Meydan is one of the exceptionally evolved zones in Dubai with an elite best in class reason constructed framework. Meydan Free Zone is halfway situated, with excellent availability, and most economical alternatives to set up business in Dubai. Found close to midtown Dubai, Meydan Free Zone is the visionary thought of His Highness Sheik Mohammed Bin Rashid Al Maktoum, UAE Vice-President and Ruler of Dubai.
The Meydan Free Zone has business advancement spaces, cutting edge business parks, world-class hotels, entertainment, and amusement parks, residential villa communities, hospitals, sports center, equestrian center, and shopping destinations. It is an ideal location for startups, freelancers and small businesses with no requirement to deposit capital or produce financial statements to have accounts audited. Meydan Free zone in Dubai, UAE permits 100 percent foreign ownership, guarantees 100 percent tax exemption and places no restriction on hiring foreign labor.
How to Start Your Business in Meydan Free Zone?
Step-by-step process for registering a company in Meydan free zone:
- Submit a company formation application form, along with the required documents and the processing fee at the Free Zone Authority
- Get the trade name registered
- These would be verified, and provided a preliminary approval if everything is alright [takes 1-2 weeks]
- Certain businesses might require special approvals from government authorities like the Real Estate Regulatory Agency (RERA), etc.
Documents Required to Set Up a Business in Meydan Free Zone
- Business plan (for at least 3-year period)
- Proof of address (title deed or lease agreement)
- CV of the shareholders
- Original bank reference letter or 6-month bank statement (attested by the bank)
- Passport copies with visa page copies of the shareholders
Advantages of Setting Up a Business in Meydan Free Zone
Tasks in Meydan Free Zone are encouraged by the state legislature of the Emirate of Dubai, and the guidelines and guidelines are intended to draw in unfamiliar financial specialists and finance managers to begin organization or activities in Dubai by giving exclusions in charge, low obligations for imports/sends out. Beginning an organization in Meydan Free Zone substances you to the accompanying advantages:
- World-class Infrastructure and facilities at a premium location in Dubai
- A secure and regulated environment with round-the-clock security
- High-speed connectivity to Dubai Logistics Corridor
- Streamlined process to set up and register your business
- Effective Free Zone Establishment (FZE) and Free Zone Limited Liability Company (FZ-LLC) operating licenses
- Companies can operate 24 hours a day
- Provision of flexi-desk as well as serviced office spaces
- Guaranteed 50-year tax holiday on personal and corporate tax
- No currency restrictions or foreign exchange controls
- Lowest setup and renewal costs for businesses
- 100% repatriation of capital and profits
- 100% expat ownership
- Exemption of personal, corporate and capital taxes
- Exemption from import and export duties
- Convenience in hiring skilled foreign labor
- Residency visas for 3 years with renewal
- Foreign individual as well as corporate ownership allowed
Business Licenses in Meydan Free Zone
1. Business License
A business permit licenses tasks including exchanging, import/fare, and circulation of merchandise or administrations.
2. Counseling License
A counseling permit allows the endeavor of counseling exercises, for example, business, HR, the executives, and expert administrations.
3. Media License
A media permit allows the activity of media administrations, promoting, marking, and correspondence administrations.