Starting a business in a free zone UAE is easier than a mainland company. Free zone representatives require less duration and paperwork for business setup. Here are the following steps that are needed for company formation in the Free zone.
- Identify the type of business
- Select a trading name
- Give application for trade license
- Select an office space
- Get pre-approvals and register your business
Identify the type of legal entity:
When it comes to determining the type of business set up in DMCC, there are two types of companies you can choose for your business. Free zone Limited liability (FZLLC) Free zone Company (FZ CO.) Free Zone Establishment (FZE) Every type of company is different from each other. You need to understand the difference between them before determining the sort of legal entity. Therefore, before making a decision, be sure to ask free zone authorities about the type of company they register. You can also ask them to provide you the list of companies.
Select a business name:
Once you have decided the type of legal entity for your business, the next step is to choose the trade name. Before choosing a name, be sure to check the Free zone authority or Department of Economic Development whether the considered name is registered already or not. They can provide you the list of companies’ name that helps you determine the suitable name for your business. Additionally, the Free zone also allows you to open a branch of a local or foreign company.
Apply for license:
The type of trade license depends on the business activity you choose for the company. Here is a list of business activities.
- Content production
- Educational material
- Film production
- Graphic design
- Gaming development
- Performing arts and theater
- Digital content production
- Corporate print material
- Music production and recording
Select an office space:
The next step to set up your business in a free zone is to choose the office space for your company. In a free zone; you can buy or lease the office space and requirements depend on the number of staff members and types of business activity.
Once you have chosen your office space, it is time to get pre-approval from the Department of Economic Development. After getting approval, you can run your business freely in the free zone.
Learn more here about Free zone business.