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Dubai is well known for its rich business avenues and entrepreneurial success stories. Some of the biggest avenues for business here are the free zones. No doubt, these business-designated areas are offering an array of advantages for businessmen and entrepreneurs all over the world, especially overseas talent.
If you are reading this, you may be interested in setting up a shop in Dubai as well as a business setup in UAE free zone. And a crucial part of beginning and operating a business in Dubai is to get the appropriate licenses. Licensing can be one of the most extensive processes as well, but with the right kind of support and guidance, it need not be.
If you are looking forward to your own venture in Dubai, you might wish to give the free zones more notice. Not only that, we have come up with everything that you need to know about business licenses in the free zones in this blog.
Free zones in Dubai operate as semi-independent economic zones, offering a range of incentives to businesses. Which means that you have a better edge over building and growing your business(es). These benefits include:
The UAE boasts 40 free zones, each catering to specific industries and sectors. Each host some very well-running businesses in their respective niches, and there are more startups than we can keep up with. Some of the most prominent free zones include:
It is the largest free zone in the Middle East. JAFZA attracts global talent to Dubai for a broad range of industries, from logistics and trade to manufacturing and technology, and more. JAFZA’s proven track record with the success of businesses in multiple disciplines speaks to its reputation in business.
A global hub for financial services, DIFC offers a sophisticated regulatory framework and access to a network of financial institutions. So, if you are looking forward to setting up your finance business, you will be looking at DIFC for approvals and licensing.
One of the best parts of finance business setup in DIFC is the huge network of finance institutions that you can take advantage of to grow your business.
This free zone is a haven for media and entertainment companies, offering facilities and support services specifically tailored to their needs. It doesn’t matter what kind of media business you are into; DMC has space for you. Just get your licenses done, and you’re ready to go.
With all the pro-business regulations and advanced infrastructure, Dubai Internet City boasts a holistic hub for all IT and software enthusiasts. It is a strategic base for technology enthusiasts targeting all the emerging markets in the UAE and the neighbouring regions.
Located in the capital region of the UAE, Abu Dhabi, AGDM is a broad base-free zone that attracts business enthusiasts from different regions. Since it caters to a huge number of business niches, it can be a perfect fit for you if your business idea spans across multiple disciplines.
Entities willing to set up businesses where they can easily get office spaces at cheap rates and in luxurious spots can get their business licenses in the DMCC. DMCC-free zones are one of the most attractive locations for starting businesses in 20214.
Business entities engaged in providing professional services, consultancy services, and e-commerce services can get their businesses set up in MFZ. It is one of the most attractive free zones in the UAE. It is known for hosting the Dubai World Cup, and it provides premium infrastructural facilities to business entities.
Entities that are planning to start event management companies, tourism and hospitality businesses, marketing businesses, etc. can approach this free zone. It is located in the heart of Dubai’s well-known business district and other event centres. The Dubai international airport is also near the free zone. Hence, starting a business in this free zone in 2024 would be the best decision.
The specific application process for free zone license in Dubai may vary slightly between free zones, but broadly involves the following steps:
Research and identify the free zone that best aligns with your business activities and industry focus.
Review the available licenses offered by your chosen free zone, and then select the one that best suits your business needs. (Ascertain your business activities and operations before that.)
Choosing the right license is crucial for ensuring your business operates legally and efficiently. When you set out to obtain your license, carefully ascertain the business activities that your entrepreneurship will be engaged in, along with the regulations in your free zone.
Register your company with your respective free zone authority. This will involve submitting documents like your business plan, Memorandum of Association (MoA), and passport copies of all shareholders.
Submit a completed license application form along with the required documents and fees. This is where you are almost done with your application process.
If you plan to employ overseas talents, then you need to apply for the necessary work visas through the free zone authority or the General Directorate of Residency and Foreigners Affairs (GDRFA).
The cost of obtaining a free zone business license can vary depending on several factors, like the particular free zone you are looking forward to, the type of license you wish to avail of, any overseas talents you wish to employ, and your company structure, complexities, and all your business operations from the get-go. Now, here’s a general breakdown of some key expenses that you need to consider while applying for a business license in the Dubai free zones:
Fees associated with company registration with the free zone authority typically range from AED 1,000 to AED 3,000. Ensure that you have all your documents ready for this.
Engaging a business setup consultant can streamline the process and ensure compliance with regulations. These services typically depend on the exact firm you wish to consult. CDA is one great option when you’re looking for business setup services.
For bringing in overseas talent, costs associated with obtaining work visas vary depending on the visa type, profession, and processing speed.
Now, for operational setup, you need an office space. Rental costs for office space within the free zones will vary significantly depending on the size, location, and amenities offered.
So, look into the costs of spaces in the free zone you are aiming to build your business in. Some free zones might also require security deposits before leasing you an office space.
Dubai caters to a wide range of business models and entrepreneurs from all over the globe. If you are someone who is looking forward to setting up shop in Dubai, then it is important that you know all about the licensing processes required for the same.
By understanding the types of licenses available, the application process, and the associated costs, you can make an informed decision about establishing your company within the Dubai free zones.
By leveraging the valuable resources available and undertaking thorough research, you can navigate the process of obtaining a business license in a Dubai-free zone with confidence. As for professional help and support, you can always count on firms that specialise in licensing and business setup services for Dubai-based entrepreneurs.
It takes a village to set up a business, or at least it seems like it. If you are someone who has been looking forward to establishing your own business and growing your name in the heart of the UAE’s business hub, then you need solid professional support to navigate everything in your path.
CDA can be your trusted guide in this regard. With seasoned professionals and a client roster that speaks volumes about the right trust and guidance in the business world, CDA can help you grow your business in a much more streamlined fashion, starting with the licensing procedures right away!
Licensing and registration can seem daunting, especially with the number of documents and the long process overall. But when you have a trusted entity guiding you through all this, you can simply sit back and enjoy planning and strategizing your business plans. Leave the paperwork to the professionals.
Need a little guidance with your licensing procedures? Give us a call!
