Meydan Free Zone Company Formation

Business Setup Services |Meydan Free Zone

Meydan Free Zone (MFZ) is built near the reputable Racecourse in Dubai. The Free Zone has known a place with the most cost effective area in Abu Dhabi for startups and business formation. Meydan Free Zone development has led to a widespread commercial space which includes hotels, entertainment facilities, commercial properties, sports venue, and residential community and is located in downtown Dubai. It is a viable prospect for foreign investment in the heart of the international horse racing and the main aim of the Meydan free zone is streamlined to encourage entrepreneurs with low-cost startups to flourish. This makes the Meydan Free Zone Authority and the equestrian scene in the Middle East.

Meydan Free Zone has office spaces all over the Free Zone that inspires performance and productivity, MFZ offers the perfect setup to help you realize your business goals and gear you towards success. Meydan Dubai has a lot to offer with its strategic location, excellent connectivity, state-of-art infrastructure, world-class professional environment, and strong economic outlook If you are looking for a business set up in Dubai free zone.

Licenses Available in Meydan Free Zone

Three types of licenses available in MFZ.

1. Commercial License

With a commercial license you can do many activities like import and export, trading of various goods and services but this free zone does not have facilities for storage of goods and services yet like a warehouse.

2. Consultancy License

It allows professionals resourcing and consultancy.

3. Media License

A media gives you several rights that include services like marketing, advertisement, and communication.

Business Activities Allowed in Meydan Free Zone

  • Trading
  • Import and export of goods
  • Consultancy and professional services
  • Advertising
  • Marketing & communications

Business Entities Allowed in MFZ

There are three basic entities under which you can open a business

  • Sole Establishment
  • Limited Liability Company
  • Branch/Representative Office

Advantages of Company Setup in Meydan

  • 100% foreign ownership
  • 100% capital repatriation
  • Flexible facilities options
  • No currency restrictions
  • Ideal for Startups and SME’s
  • No capital deposit requirement
  • Conveniently hire foreign labors and employees
  • No personal income and corporate tax

How to Set Up a Business in MFZ?

The Starting process is easy and very forward in Meydan City FZ. They include the collection of required documents, preparation of business plan including financial projections and obtaining pre-approval for the business from the Free Zone immigration department, signing of Memorandum of Association and license and subsequently issuing visas and issuance of a certificate of incorporation.

The Integration of the business setup is to fill in the application form and submit the necessary documents with it. If you don’t have time for going to the authorities and do it personally you can submit the application online or via email.

  • As per the Meydan Free Zone Authorities pay the processing fee
  • Register your trade name at the register

Once all the documents and initial approvals have been processed, an appointment with the MFZ will have to be made for the registration of your free zone company. It takes around 1-2 weeks for this step to complete

Next, sign and attest Article of Association (AoA), Memorandum of Association (MoA) and leasing agreement by all shareholders in front of the MFZ officer

After everything is done all you need is to get the external approvals. There are business activities that require approvals from authorities like DIMC, RERA, etc.

Documents for business setup in MFZ

Individuals

  • Fill and sign the registration and application by the owner
  • Passport and visa copy of owner/manager
  • A business plan for 3 years
  • Six months bank statement (stamped) or Original bank reference letter
  • A CV of Owner/Manager
  • Proof of address e.g. utility bill or lease agreement of owner/manager
  • If he/she is the resident of the UAE then Copy of Emirates ID card must be provided
  • Copy of any existing UAE trade license
  • If a legal representative/agent/other person is appointed then a notarized power of attorney is required
  • Colored passport copy of authorized
  • In the registration form you need to reserve three name options

Companies

  • The form needs to be signed by all shareholders whether it is a Registration or application form available on the MFZ website or by email
  • Business plan (for a minimum of three years)
  • Six months bank statement (stamped) for the manager or Original bank reference letter
  • Good Standing Certificate
  • A Memorandum of Association and Articles of Association of the parent company
  • Certificate of Incorporation CV of Manager/Director or
  • Certificate of Registration
  • Colored Passport and Visa copy of Manager/Director
  • The notarized power of attorney for the shareholder
  • In the registration form you need to reserve three name options

Why Set Up a Company in MFZ?

Apart from the aforementioned benefits Meydan Free Zone in Dubai provides various Flexi desk options. Business formation is very easy Meydan Because the rules and regulations are smoothed by the state government. Moreover, it is an ideal location for a freelancer or small start-up as it offers a very competitive licensing option and can also be an ideal solution for those why would you not like to establish a business in the vicinity of Dubai Downtown.

BCM Corporate Services Can Help You !

1. GET A VISA WITH FLEXI-DESK:

While Dubai World Trade Centre Free Zone is home to a large number of multinational corporations, it’s also very popular with smaller businesses – and its flexi-desk package is a big reason. Flexi-desk is perfect for entrepreneurs who don’t want to commit to permanent physical office space, but still require the ad-hoc use of office equipment and facilities such as meeting rooms. But the key benefit here is that with DWTC’s flexi-desk package you can apply for multiple visas.

2. NO NEED TO COMMIT TO OFFICE SPACE:

For those who require more flexibility than a flexi-desk, Dubai World Trade Centre allows you to set up shop without committing to any office space at all – simply register your business in the free zone and work from wherever you wish. If an office is a requirement, however, DWTC has you covered here as well. Entrepreneurs have the option of taking permanent office space in DWTC’s business centre – currently located in Sheikh Rashid Tower but soon to move to brand new facilities in the coming months.

3. STRAIGHTFORWARD AND AFFORDABLE SETUP:

Whatever type of business you wish to form, Dubai World Trade Centre company setup is fast, simple and affordable. Starting a Free Zone Establishment (FZE), a Free Zone Company (FZCO) or a branch of an existing business in DWTC can be very reasonable. In fact, for the flexi-desk option it may be as low as AED 41,000. As for the process, all is taken care of through the Dubai Department of Economic Development (DED) special project counter and therefore follows the standard DED company formation process.

4. NO REQUIREMENT FOR NOC FROM A LOCAL SPONSOR:

Another reason why Dubai World Trade Centre Free Zone appeals to smaller businesses is that it does not require entrepreneurs to provide a No Objection Certificate (NOC) from a current employer. This is ideal for first time entrepreneurs wishing to set up side businesses within the free zone while still employed.

5. A VARIETY OF BUSINESS TYPES AVAILABLE:

Perhaps the biggest reason why DWTC is one of the UAE’s most bustling business hubs is that it is open to such a wide variety of businesses. Entrepreneurs wishing to set up here can select any DED listed business activity – that’s a choice of over 2,000 from industries as diverse as agriculture, construction and finance.

6. SHARE CAPITAL REQUIREMENTS:

To set up in Dubai World Trade Centre Free Zone you simply deposit AED 300,000 in paid upfront share capital and provide proof that you have done so. While this is certainly a barrier for some, it’s a relatively small cost for setting up in such a prestigious location. If you wish to set up a branch of an existing company, no share capital is required.

7. NO AUDITING OR BOOK KEEPING REQUIRED:

Anything that can lighten the administrative burden can only be a good thing. Fortunately, Dubai World Trade Centre is on hand to help. Not only is there no annual audit for DWTC businesses but there’s also no ongoing book keeping requirements.

8. EASY TO ARRANGE YOUR CORPORATE BANK ACCOUNT:

Another way DWTC can help to reduce admin is by assisting with the opening of your corporate bank account. As well as advising you on the best banks to suit your needs, Dubai World Trade Centre staff can also arrange meetings with your chosen financial institutions should you so wish.

9. EASY TO SPONSOR DEPENDANTS:

As well as making it easy to apply for your own visa, it’s also straightforward for entrepreneurs in Dubai World Trade Centre to sponsor dependants for their residence visas as well. Whether you wish to sponsor a maid, driver or family member, the process is relatively easy – entry permit, status adjustment, medical fitness test, then Emirates ID registration and visa stamping. As this is such an important process, it’s a good idea to get advice from an expert in setting up UAE free zone businesses. This ensures that before you start an application, both you and those you’re hoping to sponsor meet all of the entry criteria.

10. SET UP WITH MULTIPLE SHAREHOLDERS:

Another major draw for large businesses toward Dubai World Trade Centre is that it allows for setup with multiple shareholders – which can be individuals, corporate entities or a combination of the two. Entrepreneurs wishing to set up such a business simply need to register a Free Zone Company.

11. WORLD CLASS LOCATION AND FACILITIES:

Dubai World Trade Centre’s strategic location is yet another factor behind its tremendous popularity. Its transport links include the Dubai Metro and close proximity to Al Maktoum International Airport. Plus, at the heart of its complex is the Dubai International Convention and Exhibition Centre making DWTC the perfect home for entrepreneurs looking to network, collaborate and engage with likeminded professionals from around the world.

12. COMPETITIVE EDGE:

Dubai World Trade Centre’s location, coupled with its low setup costs can offer businesses a real competitive edge. At the heart of Dubai’s financial district, next door to Dubai International Financial Centre, DWTC offers businesses a prestigious office address without the sky-high costs usually associated with the area.

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Company Registration Service in Meydan Free Zone Know business setup cost & Package with Tariff for Meydan Free Zone. You will get Meydan Free Zone Office at affordable cost, You can see several new companies in Meydan Free Zone generating good Revenue. Read on Meydan Free Zone Jurisdiction and Benefits of setting up of company in Meydan Free Zone. We help you getting Business License in Meydan Free Zone. Rules & Regulations in Meydan Free Zone are similar to other free zones in UAE. You might have read about the activities, advantages employee benefits of Meydan Free Zone. Get a quote today and know about license fees & trade license cost towards establishment of Meydan Free Zone.

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