Business Setup In Meydan Free Zone
Types of Business Licenses, Activities, and Entities Allowed in Meydan Free Zone
When applying for a business license in the MFZ, it’s important to have a carefully researched business plan that covers several aspects of your proposed company, including the business activity you’d like to conduct and the legal form you’d like your company to take. We’ll cover these aspects below:
Commercial License
Commercial licenses give you the authority to operate retail stores, import and export goods, purchase and sell real estate, and much more!
Consultancy License
A consultancy license is dedicated to businesses that sell their products or services. This includes lawyers, consultancies, and medical professionals.
Media License
A media license grants to individuals who are willing to conduct business in the media, marketing, advertising, and communication-based companies.
Activities
There are a significant number of business activities available in the Meydan free zone. These include:
Retail: Retail establishments make up a huge portion of the UAE economy.
Consultancies: Businesses that sell their consultative services are a popular option in MFZ.
Advertising: Media-based activities like advertising and marketing operate under this activity.
Communications: News companies, radio, and more fall under the banner of this business activity.
The Required Documents You'll Need to Start Your Business in the MFZ
When forming your business in the MFZ, gathering all the documents necessary to submit your application is essential. This documentation can vary depending on whether you apply as an individual or a larger company with multiple shareholders. These documents include:
For Individuals
- Signed registration and application forms
- A copy of passports and visas of the owner or manager
- An original bank reference letter and bank statements for 6 months
- Business plan
- A CV of the owner or manager
- Proof of address (This can be in the form of a utility bill)
- A notarized power of attorney, if a legal representative or agent is appointed
- Color copy of passport
- 3 trade names of the proposed company
For Companies
- Signed registration and application forms
- A three-year business plan
- An original bank reference letter and bank statements for six months
- Board of resolution appointing a manager or director
- A Memorandum of Association and Articles of Association of the parent company
- A notarized power of attorney for all shareholders
- Colored copy of passport and visa for manager or director
- 3 trade names of the proposed company
Types of Business Licenses, Activities, and Entities Allowed in Meydan Free Zone
When applying for a business license in the MFZ, it’s important to have a carefully researched business plan that covers several aspects of your proposed company, including the business activity you’d like to conduct and the legal form you’d like your company to take. We’ll cover these aspects below:
Possible Business Licenses
- Commercial License
Commercial licenses give you the authority to operate retail stores, import and export goods, purchase and sell real estate, and much more! - Consultancy License
A consultancy license is dedicated to businesses that sell their products or services. This includes lawyers, consultancies, and medical professionals. - Media License
A media license grants to individuals who are willing to conduct business in the media, marketing, advertising, and communication-based companies.
Business Activities
There are a significant number of business activities available in the Meydan free zone. These include:
1. Retail
Retail establishments make up a huge portion of the UAE economy.
2. Consultancies
Businesses that sell their consultative services are a popular option in MFZ.
3. Advertising
Media-based activities like advertising and marketing operate under this activity.
4. Communications
News companies, radio, and more fall under the banner of this business activity.
Business Entities
The legal form for your company is a massive step in the business formation process. It will single-handedly dictate how your enterprise handles its legal affairs, including profits, losses, and assets. These entities can include but are not limited to:
1. Sole Establishments:
A sole establishment is a legal entity operated by a single individual that controls all operations and bears responsibility for all profits and losses.
2. Limited Liability Company (LLC):
A limited liability company, or LLC, is a popular business form often recommended for companies aiming to sell goods within a particular jurisdiction. In the event of bankruptcy, an LLC limits the owner’s responsibility for debts accrued during the business.
3. Branch Office:
A branch office is an extension of a larger established corporation. All responsibilities for a branch will fall under the legal structure of the parent branch.
Meydan Free Zone Business Setup Cost
Forming a business in the MFZ is a more cost-efficient jurisdiction compared to other free zones. Below, we’ve broken down the fees that you’ll encounter when submitting your business license application:
Application Fee: The fee for your initial application will cost roughly AED 520.
Registration Fee: A registration fee of roughly AED 12,500.
License Fee: A licensing fee, charged per activity if you want to add more than 3 activities.
Establishment Card: An establishment card will cost AED 2,000.
Experience
MSZ Consultancy is Your One-Stop-Shop for All Things Business!
MSZ Consultancy is dedicated to being your headquarters for all your business needs. We have a comprehensive knowledge of business customs throughout the UAE and can provide thoughtful, quality consultative assistance for businesses of any size and type. Our team of experts is experienced in regional business operations’ customs, laws, and regulations. Whether you need assistance in completing Meydan free zone business setup, registering trademarks, or securing PRO services, we have the skills to help you stand above the competition!
We are proud to have helped over 3,200 happy customers find their way in the UAE business world. Regardless of whether you intend to start a new business enterprise or you’re simply renewing an existing license, we are the team to call. Choose a reputation that matters. Choose success. Choose MSZ Consultancy! Contact us today at +971 50 487 2208.
Frequently Asked Questions (FAQs)
Meydan free zone companies are eligible for any number of visas depending on the business requirements. A company can opt for a 0 visa package to any number.
There are several fees involved in the formation of the Meydan Free Zone Company. These include an application fee, registration fee, licensing fee, establishment card fee, and a refundable deposit. The pricing for these fees is noted in the previous sections of this page.
Companies enjoy a large number of benefits under the Meydan free zone. Unlike mainland and offshore business setups, these companies retain 100% of their profits, enjoy low tax responsibilities, and have the ability to access state-of-the-art office facilities. Meydan free zone companies can lease/rent physical office space outside the free zone. Meydan free zone is the only free zone in Dubai which allows the business to take the office space in the mainland.
For foreign investors, you’ll need a copy of your passport and visa, as well as several other documents which are personal profile, address proof, bank statement etc.
Businesses operating in the Meydan free zone are subject to laws set forth by the companies and licensing regulation 2022. These laws and regulations may vary based on the particular jurisdiction of the Free Zone.