Are you an aspiring entrepreneur or an astute investor looking to expand your business horizons in Dubai, one of the world’s most dynamic business hubs? If so, you’re in the right place! In this comprehensive guide, we will delve into the intricacies of company formation in the Meydan Free Zone, a strategic choice for those seeking a prosperous future in the United Arab Emirates (UAE).
Meydan Free Zone is a thriving business ecosystem that offers an array of benefits and features to companies across various industries. Whether you’re considering Company Registration in Meydan Free Zone or wondering how to start a company in Meydan Free Zone, this guide will provide you with valuable insights to make an informed decision. Additionally, we’ll explain why choosing OnDemand International for your company formation needs is the smartest move you can make.
What is the Meydan Free Zone?
The Meydan Free Zone is a commercial zone in Dubai, United Arab Emirates. It is one of the most sought-after free zones in the UAE, offering a wide range of benefits to businesses, including 100% foreign ownership, 0% corporate tax, and no customs duties.
Procedure for Company Formation in the Meydan Free Zone
The Meydan Free Zone is located in Dubai, UAE, and offers a variety of business formation options, strategic location advantages, and investment incentives. Below is a general Procedure for setting up a company in the Meydan Free Zone:
Decide on Your Business Activity
- Select a Business Activity: Determine the primary activity of your business, such as trading, services, or manufacturing. Meydan Free Zone provides a diverse range of commercial activities, and it is critical to select the one that best fits your needs.
- Legal Form: Choose a legal form for your business (e.g., Free Zone Establishment (FZE), Free Zone Company (FZCO), or a branch office).
Choose a Company Name
- Select a Trade Name: Ensure the name complies with UAE naming conventions, does not contain any offensive language, and where possible, reflects the nature of the business.
- Name Approval: Get the trade name approved by the Meydan Free Zone Authority.
Submit Application and Documents
- Application Form: Complete the Meydan Free Zone company application form.
- Company/Business Plan: If necessary, create a complete business plan.
- Documentation: Prepare and submit the required documents, which typically include:
- Copies of the shareholders’ and directors’ passports.
- Passport-size colour photographs with white backgrounds.
- Application form for registration.
- Proof of trade name reservation.
- Proof of initial approval for the activities.
Legal Documentation and Approval
- Memorandum of Association (MOA): Draught and signed the Memorandum of Association (MOA) and Articles of Association (AOA) by Meydan Free Zone laws.
- Submit for Approval: Apply along with the MOA, AOA, and other required documents to the Meydan Free Zone Authority for approval.
- Compliance Checks: Undergo due diligence checks as part of the Free Zone Authority’s compliance process.
Pay Fees and Collect License
- Payment: Once your application is approved, you must pay the applicable fees. These can include:
- License fee
- Registration fee
- Office or facility lease fee
- License Issuance: After payment, the Meydan Free Zone Authority will issue your company license.
Open a Corporate Bank Account
- Bank Account: Open a corporate bank account for your company. Meydan Free Zone Authority can advise on banks that are accustomed to working with free zone companies.
- Entry Permit: Apply for an entry permit if you are not in the UAE.
- Status Adjustment: If you are in the UAE, you need to do a status adjustment.
- Medical and Emirates ID: Undergo a medical fitness test and apply for an Emirates ID.
- Visa Stamping: Get your visa stamped on your passport.
Advantages of Company Formation in the Meydan Free Zone
Some of the benefits of setting up a company in the Meydan Free Zone:
- Tax Advantages: The advantageous tax environment is one of the most persuasive reasons to pick the Meydan Free Zone. Companies registered here enjoy a 0% corporate and personal income tax rate for a period of up to 50 years, renewable for another 50 years. This generous tax exemption allows businesses to maximize profits and reinvest in growth.
- 100% Foreign Control: Foreign investors in the Meydan Free Zone can keep full ownership of their enterprises, removing the requirement for a local sponsor or partner. This level of control and autonomy is rare in many parts of the world and is a key driver for entrepreneurs and investors.
- Strategic Location: Meydan Free Zone is conveniently placed near key transit hubs such as Dubai International Airport and Jebel Ali Port. This facilitates the seamless movement of goods and people, making it an ideal choice for businesses involved in logistics and trade.
- World-Class Infrastructure: The free zone boasts state-of-the-art infrastructure, with modern office spaces, warehouses, and manufacturing facilities. The advanced facilities are designed to meet the specific needs of various industries, ensuring a conducive environment for growth and innovation.
- Diverse Business Activities: Meydan Free Zone permits a wide range of business activities, from sports and technology to media and entertainment. This diversity allows entrepreneurs to explore various sectors and tap into new opportunities.
Features of Company Registration in Meydan Free Zone
A list of features for company registration in the Meydan Free Zone are:
- Quick and Efficient Setup: Company formation in Meydan Free Zone is known for its streamlined processes. With the assistance of OnDemand International, you can have your business up and running in a matter of days, reducing bureaucratic hurdles and time-to-market.
- Flexible Office Solutions: The free zone offers flexible office solutions to accommodate businesses of all sizes. Whether you need a small office space or a large industrial unit, Meydan Free Zone has options to suit your requirements.
- Investor-Friendly Policies: The regulatory environment in Meydan Free Zone is investor-friendly, with transparent laws and regulations. This increases the trust and confidence of businesses and investors.
- Access to Skilled Workforce: Dubai is home to a diverse and skilled workforce. Companies in the Meydan Free Zone may readily tap into this talent pool to help them grow.
- Business Support Services: Meydan Free Zone offers a variety of support services, including legal and administrative support, to assist firms in navigating the hurdles of establishing and operating in the UAE.
Key Facts about Meydan Free Zone
- Established in 2015, Meydan Free Zone has quickly become a preferred destination for businesses seeking growth opportunities in Dubai.
- The free zone covers over 15 million square feet of prime commercial space.
- It offers a range of licenses, including trading, service, and industrial licenses.
- Companies in the Meydan Free Zone can operate 24/7, allowing for increased productivity and flexibility.
- The free zone’s strategic location along Sheikh Mohammed bin Rashid Al Maktoum Road provides easy access to major highways and ports.
Obtaining a UAE Residence Visa Through a Meydan Free Zone Company
If you’ve chosen a license with visa entitlement, we can assist you in obtaining a UAE residence visa. Here’s how the process works:
- Immigration Card: Once your business license is issued by Meydan Free Zone, we will apply for an immigration card, which is typically issued within two to three working days.
- UAE E-Visa: We will prepare the visa application and submit it to MFZ with the required documents. The UAE e-visa will be issued within three to five working days.
- Medical Test and Emirates ID: The visa holder will need to travel to the UAE to take a medical test and apply for the Emirates ID. Required documents include the original passport, e-visa copy, and other related documents.
- Visa Stamping and Emirates ID: Submit the necessary documents for visa stamping and Emirates ID processing. Once submitted to Meydan FZ, the visa will be stamped within one to two working days. The Emirates ID will be issued after ten days.
Why Choose OnDemand International for Company Formation?
When it comes to setting up your business in the Meydan Free Zone, partnering with the right business setup consultant is crucial. OnDemand International is your trusted ally in this journey, and here’s why:
- Expertise: With years of experience in business setup and company formation in the UAE, OnDemand International has an in-depth understanding of the local business landscape and regulatory requirements.
- Personalized Service: We offer tailored solutions to meet the unique needs of each client. From choosing the right license type to providing visa assistance, our team is committed to your success.
- Efficiency: Our simplified methods and solid contacts with government officials enable a stress-free business creation process.
- Cost-Efficiency: We provide reasonable prices without sacrificing quality, making our services accessible to organisations of all sizes.
- Compliance: We bring you up to date on the newest legislation and guarantee that your firm complies with UAE rules.
Company Formation in the Meydan Free Zone is a strategic choice for entrepreneurs and investors looking to establish a strong presence in the UAE. With its tax advantages, investor-friendly policies, and world-class infrastructure, the Meydan Free Zone provides an ideal environment for business growth.
Choosing OnDemand International as your partner for company formation ensures that you navigate the process with ease and confidence. We are dedicated to assisting you in realising the maximum potential of your business in the Meydan Free Zone.
Meydan Free Zone enables the establishment of several sorts of firms, including Free Zone Establishments (FZE), Free Zone firms (FZCO), and local and foreign subsidiaries of existing enterprises.
Yes, 100% foreign ownership of enterprises incorporated inside the Meydan Free Zone is permitted.
There are no paid-up share capital requirements for registering a company at Meydan Free Zone