Dubai is a global business hub, attracting entrepreneurs and investors from around the globe. One of the most appealing aspects of setting up a business in Dubai is the opportunity to obtain a free zone license. This license offers numerous benefits, including 100% foreign ownership, tax exemptions, and a streamlined business setup process. If you’re considering starting a business in one of Dubai’s free zones, here’s a straightforward guide on how to obtain your freezone license in Dubai.
Steps to obtain a free zone license:
Choose the right free zone: Dubai has over 30 free zones, each catering to specific industries such as technology, trade, media, and logistics. Research and select the one that aligns with your business activities and objectives.
Determine your business Activity: Each free zone has a list of permissible business activities. Clearly define your business activities to ensure compliance with the free zone regulations. This will also help you select the appropriate type of license.
Prepare required documentation: Gather the necessary documents, which typically include:
- A completed application form
- Passport copies of the shareholders and managers
- A business plan outlining your business objectives
- Proof of address (such as a utility bill)
- Any additional documents specific to the chosen free zone
Apply for the license: Submit your application along with the required documents to the free zone authority. Most free zones offer an online application process for added convenience. Pay the applicable fees, which can vary depending on the free zone and the type of license.
Receive initial approval: Once your application is reviewed and approved, you will receive an initial approval letter. This letter allows you to proceed with further requirements, such as obtaining office space.
Secure office space: In most cases, a physical office space is required to finalize the licensing process. You can choose from options like serviced offices, co-working spaces, or dedicated offices, depending on your business needs.
Complete additional formalities: Depending on the free zone, you may need to fulfill additional requirements, such as obtaining a residence visa or opening a bank account. Check with the free zone authority for specific procedures.
Receive your license: After completing all formalities, you will be issued your free zone license, allowing you to start your business operations legally in Dubai.