How to set up a Company in Meydan Free Zone, Dubai?
Do you wish to set up a consulting or trading company in Dubai? Then you should consider setting up your company in Meydan free zone. It is a strategically located jurisdiction offering many benefits including tax, cost, and infrastructure.
Meydan free zone is an economic free zone in Dubai, strategically located near Mohammed Bin Rashid Al Maktoum City, with proximity to the Dubai Logistics Corridor. It is a cost-effective free zone in Dubai that offers efficient business start-ups in one of Dubai’s most prestigious addresses. Meydan is one of the cheapest business centers that promote low-cost start-ups and businesses. This economic free zone in Dubai houses a range of commercial developments, sports, and entertainment services, business parks, residential communities, schools, hospitals, business towers with luxury waterfront developments, and shopping destinations.
In this blog, we answer five major questions having every detail you needed to know to set up a company in this good location.
According to a business person, who plans to start a business in Meydan Free zone Dubai, the first thing one wishes to know will be the advantages or benefits the location has to offer. What are the benefits Meydan has to offer?
Meydan Free Zone is a good location for business in Dubai’s downtown with no currency restrictions. It offers 100% business ownership for expats and shareholders, and 100% capital repatriation with no capital deposit requirements. You have the facility to operate through a Flexi-desk and it is a secure regulated environment to do business. Meydan also guarantees a 50-year tax holiday on personal and corporate taxes.
What are the types of licenses Meydan Free Zone offers?
The authority of the Meydan Free zone, offers licenses for consultancy, media, and trading. The types of licenses Meydan offers are;
What all documents do we need to set up a Company in Meydan?
Setting up a business in Meydan free zone requires certain documents and it may vary as per the license type. The documents you may need are given below.
Certificate of Incorporation
Board resolution to establish a new company
Certificate of good standing and valid trade license
Board resolution giving signatory authorization or Power of attorney for the third party
And supporting documents such as;
Passport copy of the individual shareholder
Passport copy of director, Company Secretary
Passport copy and UAE visa of the General Manager
What are the Company Set up Procedures in Meydan Free Zone?
The company setup procedures in Meydan Free Zone are convenient, transparent, and streamlined. Mentioned below are the 5 steps involved in the process.
Determine the type of business activity
Fill out the application form and submit the necessary documents
Register the trade name and reserve it with the Meydan Free Zone authority
Handle business registration and licensing requirements
Get shareholders to sign the company formation documents in the presence of the Meydan Free Zone Authority officials.
How much does it cost to set up a company In Meydan Free Zone?
The expense to set up a company in Meydan free zone is low and more affordable than in other free zones. An approximate amount without additional expenses is given below.
License fee (per activity)
Additional activity if Required
The office facility in Meydan Free Zone is easy to get. In Meydan, you will get the benefit to have a virtual office facility for just AED 6000. And it is also easy to get visas if you require one for Meydan free zone business setup. However, the fee may vary according to the visa type. An emirate ID would cost approximately AED 372 and for the medical test, a normal test will be about AED 300 while a VIP test would cost AED 870.
Bizvise provides all types of assistance to help you find the right business setup in the Meydan free zone. We assist in the company registration process, opening bank accounts, meeting visa requirements, and finally acquiring your Meydan license. We also help investors to find their destiny in other free zones in Dubai as well.