The business setup in Dubai has become very popular amongst investors because of its tax free regulations as well as the opportunity to own the company’s shares 100%. There is a wide list to choose from when it comes to the business activity selection and license types for Business setup companies in UAE. Regardless of which Emirates your company is registered in, you can operate from anywhere in the UAE.
There are over 40 free zones in the UAE for investors to choose from for their company registration. Depending on the type of business activity you plan to carry out under the company, there are so many alternatives to consider when it comes to the most suitable jurisdiction when it comes to the company incorporation.
Dubai free zone is one of the most popular and reputable free zones in the UAE. Let me tell you a little about some free zones in Dubai if you are looking to setup company in Dubai free zone.
Dubai Multi Commodities Center free zone (DMCC)
This free zone has a high reputation and is a very popular free zone, not just in the UAE but the rest of the world. It has won “Global free zone of the year” on 5 different occasions. It is also considered the world’s biggest free zone.
Business setup in DMCC Dubai can be completed in about 2-4 weeks, depending on the type of business activity you want to register. Your personal presence is required during the registration process to meet with the free zone authorities to verify your signature and sign the company documents. However, if you are unable to take the trip down to Dubai, you can give a Power of Attorney (PoA) who will act on your behalf and meet with DMCC officials and sign on your behalf.
DMCC free zone is one of the few free zones that is located in the middle of town. It is in the Jumeirah Lakes Towers (JLT) area in Dubai and it’s just opposite Dubai Marina. Its location is very convenient as it has both residential and commercial buildings, so you can live and work within the same vicinity.
Annual audits and capital requirements are needed for the company formation in DMCC Dubai. This share capital requirement is expected to be deposited in the company’s bank account at most 60 days after the company license has been issued. The minimum share capital is 50,000 AED. You are also required to have made payment for an office facility before your company license gets issued. You can go for a flexi desk facility which is the minimum office space, or a physical office in the JLT area.
The DMCC company formation cost is around 52,000 AED and this includes initial approval, license, establishment card, flexi desk, security deposit, registration fee, MoA & AoA.
The documents required for company formation in DMCC are :
Address, phone number and email
Utility bill as address proof
Another jurisdiction to setup company in Dubai zone is in Dubai international Financial Centre (DIFC). It comprises of 72 different countries and is considered a financial hub and has it’s own business community, independent, global financial exchange and international regulated judicial system. DIFC company formation exempts investors from paying corporate income and profit tax and offers a 50 year guarantee on it.
It is a highly regulated free zone and the average setup cost is around 78,000 AED. There is also a share capital requirement of a minimum of 50,000 AED.
When it comes to setup Company in Dubai free zone, they are usually more expensive when compared to other free zones in the Northern Emirates. An alternative to your business incorporation needs is Umm Al Quwain free zone. The registration takes 2-3 working days, can be done remotely and does not have any capital requirement or annual audit. It has a wide list of business activities to choose from and it is more pocket friendly compared to DMCC or DIFC.
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