Setting up the business in the free zone is much easier as authorities of Free zone mainly require the minimum paperwork. Below are some important steps helpful for setting up the business in the free zone.
Type of legal entity:
Upon determining the type of legal entity on business, it is convenient to take up so that setting up 2 types of companies is much easier in the free zone.
Free Zone Establishment (FZE):
Free Zone Company (FZ Co.) also called the Free Zone Limited Liability Company is most important aspects so that it would be quite easier to handle the legality. With a number of shareholders would be a great option for the business so that you could conveniently get prominent benefits. All the free zones do not get registered based on the type of companies so that you could check documents with the individual free zone authorities on the type of company that is registered. Check Free Zone Establishment (FZE) lists along with other authorities. Dubai Multi Commodities Centre (DMCC) also allows the forming of Limited Liability Company. It also enabled entity with the single or multiple shareholders based on the subsidiary of the foreign or local company.
No minimum capital requirements are needed in the free zone business set up Dubai mainly suitable for easily bringing you complete benefits. You could also form the LLC based on minimum paid-up capital. Forming the Free Zone Establishment in the Dubai Airport Free Zone have minimum share based on the capital of the AED 1000. The minimum share capital is also mainly important for the formation of the free zone company.
Choosing Trade Name:
Getting the appropriate Trade Name for the company is much more efficient so that it is much easier to get the complete business license. When you decided on Type of legal entity for the business that could be taken on, then it is much easier to choose the best name accordingly. Check respective free zone business set up in UAEauthority as well as respective Department of Economic Development on the Trade name that is permitted. It would be known whether the intended name is already registered or not so that it would be much more efficient. Key elements mainly required for the Department of Economic Development approval for the Trade Name are
- Trade Name should not violate public order or morals of the country
- It should be followed only based on the legal form of company
- Must not be registered previously
- Compatible with required legal status and type of activity
- It should not contain the names of religion, governing authority, logos or names of any external bodies
Choosing the office space:
In fact, you could either lease or buy the office spaces in the free zones. Especially, office requirements mainly depend on the number of employees along type of business activity. You could also conveniently choose flex desk based on 20-30 sq. m., or the offices running on the multiple floors. Choosing the free zone business set up in the UAE would be a great option. Visit – https://businessetup.com/