Operating In Free Zones – Things You Need To Know

Does your business plan include company formation in DWC Dubai soon? If so, you’ve indeed planned well. Now that you’ve had it in mind, it is time think ahead. Since a business needs a lot of planning and thinking, there is all likelihood that you might need to have boots on ground to pay closer attention to get your free zone business established. That’s true; some deals cannot be completed on phone. While on your way to Dubai, you should discuss about your upcoming business setup in dmcc Dubai. You might also need to explore aspects of taxation and financial reports of your business. Here is more on what you should know beforehand before operating in any of Dubai’s free zones:

Getting Prepared

Now that you are geared up, it is time to place the foundation stone of your free zone company. If you are in dwc, you are required to pay around 30,000 AED. Along with the fees, you should agree and sign the terms and conditions of operating business from the free zone. You will also be required to prepare at least two sets of Memorandum of Agreement (MOA). Keep in mind that these agreements are by no means the final leg of requirements. Though once you sign the MOAs, your business is partially registered in the free zone. Still, to complete the formal procedure, you might still need to fill up applications along with your signatures. You will also be required to have a copy of your passport. Once all the documents are completed, send them over to the relevant authority in the free zone.

You Are Now A Business Holder

The final leg of business registration process will commence once you’ve submitted all the documents along with the fees. As soon as the documents reach the authorities, the process of business set up will enter in the final phase. Here, the notification of your business’s eligibility may take up to two weeks or more. The smart desk option will carry out your free zone business registration process. In case you have any queries, you can contact them on any of the numbers mentioned on their websites.

The same rules, except some minor changes here and there, apply if you want to have a business setup in DMCC Dubai.