Company Setup meydan free zone

1. Company Setup in the Meydan Free Zone While setting up your business in Dubai, the most difficult challenge is to find the right place to start your company in Dubai. However, there are many reliable locations where you can set up your business but Meydan Free Zone stands out from all those areas. Meydan Free Zone was introduced in 2009 by Ruler’s Decree No. 5. It has become the perfect location to start a business in Dubai by offering a seamless startup procedure and other benefits. Do you know the best part? It is the only free zone area that is entirely digital and open 24/7. In this guide, we will explore the reasons for starting your Company in Meydan Free Zone, a step-by-step guide to setting up your Company in Meydan Free Zone, and other aspects you should know before beginning your business journey in this free zone.

2. Why should you choose Meydan Free Zone to set up your company? Currently, several people are opting for the Meydan Free Zone to set up their business. Still, some of you might be considering why the Meydan Free Zone is the perfect place for your business. If that is the case, you should read the following reasons to choose this free zone for your business:

3. Meydan Free Zone prioritizes efficiency in the process of setting up a business with straightforward procedures. The focus on the efficiency of this free zone ensures you enjoy a prompt and seamless experience. Like any other free zone in the United Arab Emirates (UAE), you are not subject to corporate, personal, or income tax (if your annual profits fall under AED 375,000) if you intend to start your business in the Meydan Free Zone. It allows you to streamline your finances and enjoy profits that might not be possible in the standard taxation regulation. Meydan Free Zone also removes capital requirements to boost your financial inclusivity. It also provides you with the option to operate your business without a physical presence to promote flexibility in the region. You can take back all your profits earned from your business in the Meydan Free Zone to your home country without restriction. As a result, the Meydan Free Zone is turning into the prime area for investors to start their companies. You can also enjoy complete ownership rights to your business in the Meydan Free Zone which promotes control and autonomy. The Meydan Free Zone is strategically located with top-class services and infrastructures. Here, you can enjoy facilities, like high-speed internet connectivity and state-of-the-art telecom support to keep your company running at its maximum potential. Types of licenses in the Meydan Free Zone Meydan Free Zone lets you obtain a business license from a broad variety of licenses. We have mentioned below some of the top licenses you can get in the Meydan Free Zone: Commercial License: Commercial License lets you conduct trading activities under the Meydan Free Zone. Industrial license: The industrial license is designed for businesses involved in producing, assembling, processing, and packaging activities in the Meydan Free Zone. Service License: The service License allows you to give services specified in your license in the Meydan Free Zone.

4. Documents needed to start your business in the Meydan Free Zone You must gather a few documents to initiate your company in the Meydan Free Zone. However, what exact documents you need to start your business depends on your company and license type, but we have mentioned some common documents to begin your company in the Meydan Free Zone below: For individual Colour passport copy Name reservation with at least three name choices A copy of your Emirates ID An existing UAE trade license copy A three-year business plan A CV of the owner or manager A passport and visa copy for either the owner or manager An original reference letter from your bank with statements reaching back at least six months Proof of address A notarized power of attorney, if you have appointed a legal representative or agent For branch company A Memorandum of Association as well as Articles of Association of your parent company A certified power of attorney for all your company’s shareholders Colored passport and visa copy for your company’s manager or director Name reservation with at least three company name options Your original or real bank reference letter and statements for six months

5. Board of resolution appointing a manager or director Signed registration and application forms A three-year business plan How to begin your company in the Meydan Free Zone You must follow these steps to Start your Company in the Meydan Free Zone:

6. 1. Choose your business activities Initially, you should select the business activities you intend to perform in your business in the Meydan Free Zone. Remember, the Meydan Free Zone allows several business activities, including trading, healthcare, logistics, and much more. Therefore, you should only select the business activity your company will engage in to ensure compliance with the licensing needs. 2. Choose a trade name After choosing the business activity, you must select a unique and fitting trade name for your company in the Meydan Free Zone. Your company name must comply with the rules set by the UAE government. You must ensure that your business name is clear and not include offensive elements to improve compliance. 3. Submit the required documents Next, you should submit the needed documents to the Meydan Free Zone Authority for initial approval. After approval, you should sign a Memorandum of Association. 4. Lease an office space After submitting your required documents, you must secure an office space in the Meydan Free Zone to start your business operation. Whether you want a flexi desk, warehouse facility, or executive office, you should select an office space tailored to your requirements. Later, you should sign the lease agreement and get the essential approvals to finalize your workspace. 5. Get the license After leasing an office space, you should submit the required documents and fees. After approval, you will obtain the trading license in the Meydan Free Zone.

7. 6. Open a corporate account After acquiring the trade license, you are allowed to apply to open your corporate bank account in any bank in Dubai or UAE. You can open your corporate bank account in 3 to 5 days. How can Flyingcolour Business Setup help you? Meydan Free Zone is among the excellent places to set up your Company. However, the path to starting your business in this free zone is a little difficult and requires expert guidance. Flyingcolour Business Setup can help you begin your business in this free zone. Our experts can guide you to the easiest path to set up your company in the Meydan Free Zone.