With the growing economy in UAE and infinite business opportunities, the Dubai government has introduced Dubai Free Zones. The free economic zone is often confused with offshore. It is important to understand that the UAE offshore company is a company that allows working offshore only, which is anywhere in the world except the UAE. Dubai free economic zones are zones designated by relevant authorities where companies can be 100% foreign-owned and they don’t require a 51% local partner. Companies in free zones are allowed to work in the UAE and run their operations in the free zones where the company is registered. The first free zone emerged in 1985. Today in Dubai alone there are more than 20 free zones each of them was established to serve the needs of a particular industry. 

The three major free economic zone in the UAE:

  1. Jebel Ali Free Zone:

One of the largest business communities in the region, JAFZA caters to the requirements of all companies regardless of size, industry, or sector. Business in JAFZA has a single point of contact that handles all administration, documentation, and applications, allowing companies to focus on their operations and begin their business with ease and speed. Jebel Ali Free Zone offers a wide range of facilities that are perfect for the present and flexible for future enterprises. 

The number of shareholders required in Jebel Ali Free Zone 

Jebel Ali free zone company requires between two to five shareholders.

Documents required:

  • Application form
  • Passport copies of shareholder’s management and sectary
  • Description of companies activities
  • Article of Association

Share Captial requirement:

There is no minimum share capital required for setting up a business in JAFZA

 

2. SHAMS Free Zone 

Shams Free Zone is also known as Sharjah Media City free zone. It is the newest free zone in the UAE. However, we have noticed that it’s is gaining more popularity with the investors. SHAMS free zone is the nearest to Dubai, it is located in Sharjah. Even though its called the media free zone it does not necessarily mean that they only offer media activities. Sharjah has a very broad list of activities which includes trading, professional services as well as some other holding activities. 

How to set up a business in Sharjah?

  • Deciding on the right free zone
  • Preparing a business plan
  • Choosing the company name
  • Completing the licensing process and business registrations

The details required for the company registration are:

  • Passport copy
  • Personal details

 

3. Dubai Multi Commodity Centre (DMCC)

Dubai Multi Commodity Centre (DMCC)  is by far by one of the most reputable free zones in Dubai. It is one of the best areas where you could register your company. DMCC free zone is home to the Dubai Gold and Commodities Exchange and also to the Dubai Diamond Exchange. It also accommodates tea and coffee centers, which encourages agro commodities growth. Over 14000 companies have registered in DMCC free zone. 

Setting up a company in DMCC free zone offers great investment opportunities with respect to taxes and business environment. Dubai is one of the most attractive destinations for entrepreneurs, especially in free zones like DMCC.

The Dubai Multi Commodity Centre Authority permits two types of business setup:

  • Limited Liability Company
  • Branch Company Setup

How to set up a company in Dubai Multi Commodity Centre:

  • Decide on the type of company you wish to operate your business
  • Plan the business activity that you are going to conduct
  • Obtain additional DMCC business license
  • Choosing the name of your company
  • Applying for company registration

Documents required:

  • Passport copies of the applicant
  • NOC from the UAE sponsor
  • Proof of residence
  • Business plan proposal
Set up your business in one of the best Free Economic Zone 

Today, free zones review their plan, and embrace economic changes, as a result, several free zones open their doors to multiple industries. In general, each free zone has distinguished features and may have different requirements in terms of regulations. To ensure that you choose a proper platform for your business, we recommend you consult professionals in the UAE. 

MSZ Consultancy will not only help you in choosing the right platform for your business but will also guide you in providing the perfect business solutions. 

 

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