5 Tips to form a company in Freezones​ - PowerPoint PPT Presentation

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5 Tips to form a company in Freezones​

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Forming a company in a freezone in Dubai is easy. The authorities of the free zone need only the bare minimum of paperwork and time. The following are some tips to forming a company in a free zone:​ – PowerPoint PPT presentation

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Title: 5 Tips to form a company in Freezones​


1
5 Tips to form a company in Freezones
  • Dubai Airport Free Zone

2
  • Forming a company in a freezone in Dubai is easy.
    The authorities of the free zone need only the
    bare minimum of paperwork and time. The following
    are some tips to forming a company in a free
    zone
  • Determine the legal entity's kind
  • Decide what kind of legal entity your company
    will be. You can form one of two types of
    businesses in a free zone 
  • Free Zone Limited Liability Company (FZ LLC) or
    Free Zone Company (FZ Co.)
  • Free Zone Establishment (FZE)The main
    distinctions are the number of shareholders and
    whether the shareholder is a natural or legal
    person. Not all free zones may accept both sorts
    of businesses. Check with individual free zone
    authorities to see what kind of businesses they
    can register. 
  • Decide on a brand name for your business  
  • You should pick a trade name when deciding on the
    legal entity that your company should be. In most
    situations, you should verify with the relevant
    free zone authority or the Department of Economic
    Development to see whether trade names are
    authorised and if the desired name has been
    registered previously. In general, the primary
    conditions for DED to accept a proposed trade
    name are that it 
  • Does not offend public morality or the country's
    public order and 
  • Is followed by the company's legal form, such as
    a corporation (LLC, FZE, DMCC, etc.)
  • It has never been registered before
  • Is suitable for the type of activity and legal
    status
  • Names of religions or governmental authorities,
    as well as names or logos of external entities,
    should not be included.

3
  • 3. Obtain a business license
  • The sort of business license you apply for is
    determined by your company's principal activity.
  • Here are some business activities that you can
    engage in freezones in Dubai.
  •  
  • Production of content 
  • Advertising 
  • Animation
  • Production of corporate films 
  • Production of corporate print materials 
  • Production of digital content (eg CGI, 3D etc)
  • Educational content material 
  • Film production 
  • Gaming development 
  • Graphic design 
  • Illustration 
  • Mobile media (eg content for interactive media
    services for mobile phones) 
  • Music production and recording 
  • Music videos (eg websites, e-books, travel
    guides, etc.)
  • Photography and videography 
  • Performing arts and theatre
  • Content creation for print (eg magazines,
    journals, periodicals, newsletters, guides, and
    handbooks, etc.)
  • Content creation for radio 
  • Other business activities include
  •  
  • Marketing Communications 
  • Marketing Communications 
  • Professional Associations (eg film, television,
    and editing services) (eg non-profit)
  • Public Relations 
  • Management of Rights 
  • Public Relations 
  • Management of Rights 
  •  
  • Publishing and broadcasting
  •  
  • Broadcast a satellite/terrestrial television
    channel 
  • Broadcast a satellite/terrestrial radio channel 
  • Publish a book 
  • Publish a magazine 
  • Publish a newspaper

4
Freelance License
  • You'd need to apply for a dissemination license
    in this situation
  •  
  • Commercial/trade 
  • Consultancy/services 
  • Industrial 
  • Educational 
  • Media 
  • eCommerce 
  • Offshore 
  • Freelancer 
  • Warehousing 
  • Manufacturing 

5
  • 4. Select an office location
  • In free zones, you may either buy or lease office
    space. The size of your office is determined by
    the number of workers and the nature of your
    firm.
  • There are three types of office packages
    available in the Dubai Airport Free Zone (DAFZA)
    Office Packages, Smart Desk Office Packages, and
    Executive Office Packages.
  • 5. Obtain pre-approvals, register your
    company, and obtain a license
  • Companies based in free zones are subject to the
    rules of the free zones in which they operate.
    You must apply with the required papers to obtain
    the appropriate permissions. The list of papers
    varies according on the sort of economic
    activity, the type of organisation, and the free
    zone authority's criteria. The processes and
    papers required for approvals are listed below as
    a basic guideline.
  • Initial acceptance
  • You must obtain first permission. You must
    supply the following information
  • An application form that has been completed 
  • A business strategy
  • A copy of your current trade license or
    certificate of registration (if you are an
    existing company, applicable for a local company
    only)
  • Specimen signatures of the company's
    shareholder/s and the designated Manager/Director
    for the new company 
  • 2 years audited financial reports for a corporate
    entity or certificate of reference from an
    individual shareholder's bank 
  • NOC from current sponsor (for individuals -
    original and notarised)

6
  • Freelancers have less paperwork to submit. To
    apply for a freelancer license, the applicant
    must submit
  • Application for registration 
  • Curriculum Vitae 
  • Letter of recommendation from a bank 
  • Registry Identification Code Form (RIC) -
    Original and notarised document Application for
    registration 
  • Registration
  • You must pay registration and license costs
    after receiving the first clearance. The cost of
    obtaining a license is determined by the type of
    license required. Then you must provide the
    following
  • Board Resolution appointing Manager/Director 
  • Board Resolution appointing Manager/Director 
  • Manager/Director is given power of attorney
    (Notarised and attested)
  • Articles of Association and Memorandum (Notarised
    and attested)
  • Manager/signature Director's on a sample
    (Notarised and attested)
  • Shareholders information 
  • Manager/Director's passport-size picture on a
    white backdrop
  • C. The process of obtaining a license and
    visa
  • The authority will create lease agreements 
  • A trade license will be given 
  • Visa processing will begin
  • It's worth noting that some actions may require
    permission from outside authorities.
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