The procedure for opening an offshore company in Dubai differs very much from the one necessary for incorporating an on-shore company. If you’re not sure at this stage which one you need, please consider the following:
Opening a Dubai free zone business is a particularly appealing option for foreigners who want to fully control their business. However, Dubai has already many free zones and several others under construction, so which free zone is the best to start a company?
Those who don’t already know, Dubai free zones are organized based on the type of activities they can accommodate. As examples we can mention:
– Dubai Internet City and Dubai Silicon Oasis are dedicated to IT activities and innovation;
– The Dubai International Financial City is the largest financial free zone in the emirate;
– Dubai International Academic City and Dubai Knowledge Village are dedicated to research and development activities;
– International Media Production Zone, Dubai Studio City, and Dubai Media City are dedicated to media activities;
– Dubai Gold and Diamond Park is a free zone dedicated to those who want to enter the jewelry industry.
Choose a free zone based on how much money you want to invest
There are a few Dubai free zones which require a specific amount of money to be deposited as a share capital or for licensing purposes. For some investors, this aspect is the most important when taking into account that one will also need to consider the company registration costs in Dubai.
Each Free Zone has its own registration requirements
Full foreign ownership is applicable in all free zones in Dubai but each free zone is authorized to impose certain requirements and limitations on the incorporation of the business. Before choosing the free zone, it is best to check all the requisites of the free economic zone you are interested in.
Verify the exact licensing requirements
There are 3 main types of licenses available in Dubai, however, the free zones can issue additional licenses based on the activities of the company you want to open. It is best to verify what the exact licensing requirements before choosing a Dubai free zone to open a company in.
