forming a company in a free zone is considered easier than that of the mainland. The paper work required here in free zones is minimum as ever and the duration for the completion of the company formation processes are minimal as well. Read more about Dubai free zone Business setup.
Process of company formation in Dubai free zone
- Type of Legal entity determination
- Choosing a trading name
- Applying for the license
- Getting required approvals
Type of Legal entity determination
There are 2 different types of entities you can choose from for your business activities. Here are those;
Free zone company or a free zone Limited Liability Company
Free zone establishment
The number of shareholders is that makes them both different from one another. Different free zones have their own rules and regulations on the type of legal entities. So, you must check on that of your free zone’s authority to be on the safe side.
Choosing a trading name
You should name your company after you are done with deciding the legal entity type.
You must make sure that the place you have chosen to work doesn’t prohibit a particular name you are thinking of giving to your company. If you do, you must change the name. so, before naming your country, cross-check the names that are prohibited. Furthermore, you should also check with the Department of Economic Development whether the name you have chosen for your company is already taken or not.
Requirements for the perfect trade name
- You must not be violating the morals of the country or the people of the country
- The trade name you choose must possess the legal form of the company as well
- It must not be registered by someone else previously
- It must not have a name of any religion or name that represents governing authorities or more
Apply for the license
The primary activity of your business will be the one determining your license type. There are different business licenses you can choose from for conducting different business action
The type of business license you will apply for depends on the primary activity of your business.
Choosing the office space
It is totally up to you whether you want to buy the office or get it at lease. The requirements of the office will be dependent upon the number of employees possessed by the company and the business activity as well.
Getting required approvals
Every free zone has its own free zone authority working in it. So, in order to establish a business, set up in Dubai free zone, you need to get the approval from the desired authority. You need to submit the application along with the required documents. The documents needed will be dependent up in the business activity, business type and the authority you have to work in.
So, in order to go for company formation in Dubai free zone, you must keep in mind all the necessary steps in order to start your venture in a very less period of time. For more information visit here –https://www.farahatco.net/