Located within the prestigious Dubai racecourse Meydan, the Meydan Free Zone serves as one of the cost effective destinations for startups and business setup.
Located in downtown Dubai, the development of the Meydan Free Zone has resulted in a strategic free zone consisting of business properties, hotels, sports centres, entertainment centres and residential communities with skyscrapers.
Business formation in Meydan is simplified to encourage the development of low-cost start-ups and businesses. This makes the authority of the Meydan Free Zone a viable prospect of foreign investment at the heart of the Middle East international horse racing and equestrian scene.
Types of Licenses in Meydan Free Zone
There are 3 types of licenses available in MFZ:
1. Commercial License
It allows import and export, trading of various goods and services. This free zone has not yet started providing warehouse facilities.
2. Consultancy License
It allows professionals resourcing and consultancy.
3. Media License
It includes media operations like an advertisement, marketing, and communication.
Business Activities Allowed in Meydan Free Zone
- Import and export of goods
- Consultancy and professional services
- Marketing & communications
How to form a Meydan Free Zone ?
There are several steps required to form a Meydan FZ
- Submit necessary documents and application form
- Pay the processing fee
- Registration of Trade Name
- Preliminary approval and document verification (will take 1 – 2 weeks)
- Some business activities will require sanctions from various government bodies (g. RERA, DIMC and so on)
The application can be submitted through the website or by email.
An appointment will have to be made with the Meydan Free Zone for the company’s registration when the initial sanctions and all documents have been approved.
The registration process will require:
- Attested and signed Memorandum of Association (MoA), Article of Association (AoA), and leasing agreement by all investors
- Registration fee payment
Types of Business Entities Allowed in MFZ
The following types of business entities are allowed in MFZ:
- Sole Establishment (FZ)
- Limited Liability Company (LLC-FZ)
- Branch/Representative Office
Benefits of Setting up a Company in MFZ
- 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