If you are a startup founder willing to bring your company to the UAE, Meydan Free Zone offers an ideal gateway. Located in the heart of Riyadh and Dubai, the free zone offers world-class infrastructure and a business-friendly environment, thus making it one of the most preferable locations for new businesses. The following is a step-by-step guide to walk you through everything you want to know about preparing and registering a company in Meydan Free Zone, from research to the final licensing.
Why Meydan Free Zone for Your Startup?
Let’s dive into the steps, but first, see why Meydan Free Zone is a great choice:
- Strategic location near Downtown Dubai and Dubai International Airport
- 100% foreign ownership allowed
- Zero personal and corporate tax on income
- The broad scope of business activities (over 1,500)
- No physical office space is needed for some types of licenses.
- Speedy and straightforward setup process, often in a matter of days
Startups are greatly aided by these provisions, particularly in managing costs and speeding up the process of getting started.
Step 1: Know Your Business Needs
Start with identifying the kind of business you want to establish. You can have a broad range of activities like:
- E-commerce
- Consulting
- Marketing
- IT services
- General trading
- Media production
Ensure that the business activity you choose is commensurate with your long-term goal and supported by the free zone.
Step 2: Select the Appropriate Business Activity
Meydan Free Zone offers over 1,500 licensed business activities. Your chosen activity will determine your license category, visa type, and operation scope.
- For tech startups, you can select “IT Consultancy” or “E-commerce.”
- “Management Consultancy” or “Marketing Services” would be most suitable for business services.
If unsure, Meydan Free Zone’s business consultants can help you select the best activity based on your business model.
Step 3: Select a Company Name
Your company name must comply with the UAE naming regulations. Avoid names that include offensive or religious terms. Also:
- Avoid using abbreviations of your name (e.g., “J. Smith Trading”)
- Make sure the name reflects your business activity.
- Make sure the name is available for registration.
Meydan Free Zone will check for a trade name to determine availability and hold the name.
Step 4: Establish Office Requirements
While some regions may require a physical presence, the Meydan Free Zone does not always need it. Startups can choose from:
- Flexi desk options
- Shared offices
- Private offices
- Virtual office solutions
When launching an online business, a virtual setup can reduce your overheads by a significant margin without affecting the business functionality.
Step 5: Obtain the Business License
You will formally request a license through the Meydan Free Zone portal or a licensed service agent. You will typically need:
- Owner(s) passport copy
- Passport photo
- Completed application form
- Business plan (optional in some cases)
- Confirmation of trade name reservation
Meydan Free Zone Company Setup is designed to be fast and can typically be done within 2–5 working days.
Step 6: Open a Corporate Bank Account
Once your license is released, you may open a corporate UAE-based bank account. A few banks request:
- Business License
- Emirates ID and residency visa (if necessary)
- Company documents like MOA (Memorandum of Association)
Meydan Free Zone has arrangements with big banks and can assist in opening an account on a fast-track basis for startups.
Step 7: Obtain Visas (Optional)
Depending on your office package and license, you may be eligible to submit several residency visas (for employees, family, or yourself). This involves:
- Issuance of entry permit
- Medical fitness test
- Emirates ID registration
- Stamping residency visa in passport
Meydan Free Zone allows up to 6 visa allocations, even in small packages, which is ideal for startups intending to expand quickly.
Step 8: Launch Your Business
You’re set to go once you’ve got your bank account and license in order. Whether offering consultancy, developing an app, or selling online goods, you can lawfully do business within and outside the UAE, depending on your license type.
Don’t forget to market your startup, register your domain name, and have a strong online presence. Meydan Free Zone also offers networking opportunities, which can help startups meet like-minded entrepreneurs and potential investors.
Step 9: Be Compliant
To maintain your company’s good standing, ensure to:
- Renew your license annually.
- Maintain accounting records (where required)
- Renew visas and medical checks where required.
- Pay any renewal or admin fees when due.
Compliance is convenient in Meydan Free Zone, with expert account managers to guide you throughout the year.
Conclusion
Setting up a startup in Dubai can be thrilling and profitable, especially if you choose a business-friendly hub like Meydan Free Zone. With a fast setup, affordable packages, and no physical office requirement, it has all a modern-day startup needs to get started.
By following this step-by-step guide, you’ll navigate the Meydan Free Zone Company setup process with ease and confidence. You’re establishing a technology platform company, consultancy, or online store. Still, no matter how small or big what you’re doing, Meydan Free Zone provides the ideal platform for your business to flourish in the UAE and worldwide.
Ready to take the next step? Meydan Free Zone makes it simple for startups to turn great ideas into reality without significant cost.