Company Formation At Dubai Airport Free Zones
Why Setup Business At Dubai Airport FreeZones?
If you have a business or service establishment in Dubai and need it developed or renovated, Dubai’s free zones can be very beneficial. Dubai has a very conducive environment for developing and expanding businesses and services. No personal taxes are payable in Dubai, and business owners are not required to pay income tax. Other significant incentives include free electricity, free water and postal services.
Companies can start operations in Dubai without incurring any capital investment if they meet the following requirements: no trade of goods, no rental or services trade, no gaming or gambling activities and no purchase or resale transactions. The laws on company formation in the free zone differ from that of the country. To start a business in Dubai, you need a license and a registration certificate from the Dubai Industrial Property Investment Authority (IDIA). The IDIA also has the power to conduct examinations and proceedings if any company is non-operative.
Company formation in the free zones of Dubai can take up to 3 months. After this period, you will become a registered agent of the companies you wish to trade in the free zones of the Dubai International Airport. You can apply for registration at the Dubai embassy or consulate. After this, you will be responsible for registering all your employees. This procedure is similar to applying for registration in any other country.
The following important document for the operations permit application is the director’s license. The Dubai Presidency issues this license and is also required by the Dubai Commercial Zone Authority (DCZA) to operate a food business in Dubai. For companies not registered with the Dubai Commercial Zone Authority, the emirate’s Company Department can grant the license.
The next step for a company formation in the Dubai free zone is to apply for an operations permit. A new business setup requires at least a three-year operating license, a business visa and a business setup license. A new setup license can be Arranged in two ways: by presenting a certified business plan to the Dubai Supreme Court or by presenting a letter from the delegated authorities of the designated foreign country confirming the legality of the proposed operation in their territory. The fax copies of these documents are to be sent to the Companies Department of the Dubai Middle East Intelligence Office. In case of a letter from the assigned authority, the Company Department will need to process the same, but the processing time will be much shorter.
After receiving these documents and processing are complete, the applicant can expect his turn in the queue. There will be one more set of procedures for the aed business setup in Dubai – the administrative fee payment. It is due to this reason that the Company Formation Department at the Dubai airport presumes that the applicant already has an offshore company setup or a UAE national ID number. However, companies without yet received an offshore company setup or a UAE national ID number cannot expect to receive a Company Formation free zone certificate. The Company Formation free zones are awarded based on the commercial presence of the applicant in Dubai.