Meydan Free Zone (MFZ) occupies the area around the prestigious racecourse in Dubai. This Free Zone is characterized by prospects in the development and the implementation of new startup projects for the formation of new business areas. It is for these reasons that it is beneficial to register a business in Meydan Free Zone. The Free Zone is centrally located in Dubai. The commercial sector of MFZ is represented by hotels, entertainment centers, sports complexes and a developed residential region. A main goal of the Meydan zone is to stimulate the entrepreneurship through low-cost startups. All this characteristics contribute to the development of promising investment relations with foreign missions in the Meydan zone.
How to set up a company in Free Zone of Meydan?
MFZ has versatile offices and warehouse centers. This Free Zone offers favorable conditions for the implementation of your business ideas. If you want to register a company in FZ in Dubai, pay attention to the Meydan zone. It has a strategic location, modern communications, a highly developed infrastructure, professional business centers. All of this implies many economic prospects for your business.
What types of licenses can be obtained to establish companies in FZ:
There are 3 types of licenses available in IPF:
1. A commercial license. Using this license, the entrepreneur is able to import/export various goods and services.
2. A consulting license. Gives the right to provide professional advice.
3. A media license. This license includes: an advertising, a marketing and public relations.
Services, that the Meydan Free Zone provides:
- trading services;
- import/export of products;
- consulting services;
- an advertising;
- a marketing;
The legal forms of companies are characteristic for the Meydan zone:
- a subsidiary company;
- a representation of a limited liability company;
Benefits for you as an entrepreneur, who decided to register a company in Meydan zone:
- 100% foreign property;
- 100% repatriation of funds;
- lack of currency barriers;
- contributes to the development of startups and small enterprises;
- no seed capital required;
- the opportunity to get all the necessary permits for the work of foreign personnel;
- lack of income and corporate tax;
How to start a business in Meydan Free Zone?
To register companies in Meydan City FZ, you need to know the procedure:
- to collect all the necessary documents;
- to provide a business plan;
- to obtain the prior approval of your business in the Immigration Department of this area;
- to sign a memorandum of association;
- to get a certificate of registration;
- to get licenses and visas;
To start a commercial activity in Meydan Free Zone, you need:
- an apply;
- to provide a package of necessary documents;
- to register a unique company name;
Then you need to meet with representatives of the relevant authorities, to register a company in Meydan. The registration process takes about 1-2 weeks. It includes:
- a registration of the Charter of the company;
- a signing a MoA and a leasing agreement;
- obtaining licenses for certain types of activities (if necessary);
To start a business in FZ, individuals must provide:
- the application for registration;
- a xerox copy of a passport and a visa holder;
- a business plan (statute of limitations no more than 3 years);
- the original letter of recommendation from the bank with a wet seal over the past 6 months;
- documents proving the owner’s address (for example, utility bill or rental);
- a xerox copy of the ID card (for non-residents of the UAE);
- a xerox copy of any existing trade license in the UAE;
- a notarized power of attorney on the transfer of representative rights to a notarized agent;
- a color copy of passport;
Companies need to provide the following documents:
- an application for registration (signed by all shareholders);
- a business plan, that was created no more than 3 years ago;
- the original bank statement for the last half of the year;
- a certificate;
- a document confirming the appointment of the director;
- a memorandum and articles of association of the parent company;
- a registration certificate;
- a color copy of passport and visa of manager/director;
- a notarized power of attorney to transfer representative rights to a third party;
- a company physical address;
Why do you need to set up a company in Meydan Free Zone?
The Meydan Free Zone in Dubai opens up a world of many offices and business centers to entrepreneurs for every taste and budget. To establish a company in Meydan FZ is beneficial for a freelance or new startup projects, as the zone offers a competitive licensing option, especially this option is promising for those businessmen, who decided to open a business in Dubai Outsourcing City. If you want to register a company in Free Zone, request for an appointment with the subject matter specialists. They will help you to set up a commercial company in Dubai and its Free Zones, and will also assist in obtaining banking, visa, legal and licensing formalities in accordance with the laws of the UAE. You will find our contact details on the website.