Trending Topics

Meydan Free Zone Cost

Meydan Free Zone Cost, Requirements and Procedure

For every businessman and entrepreneur, the UAE is of great importance as it is considered the most suitable place for business activities. It is a land of opportunities and the preferred choice of investors and travelers. If you want to invest in the UAE, having information related to location, cost, and laws is important. 

Location matters significantly in setting up a business as it impacts various factors, such as the cost, customers, taxes, and infrastructure. Suppose you have a low budget and are worried about it. We have good news; you can choose the cheapest free zone in UAE to afford all the facilities on a tight budget.

If you are unfamiliar with the term ‘free zone’ and wondering what it means exactly, read this article to learn everything about the free zones in UAE. We’ll talk about their importance, benefits, facilities, and activities associated with them. We will talk about Meydan free zone in particular, discussing Meydan free zone cost, Meydan free zone license renewal and much more. 

What is a Free zone?

Free zones are specific zones in the UAE and Dubai that offer favorable conditions to investors. Investors prefer free zones over the mainland because they offer more opportunities and perks. These include tax exemption, easy processing, better services, more flexibility, an appealing environment, and strong infrastructure. All these conditions make them the center of attraction for businesses.  

Almost 40 plus free zones are available to startup businesses. Each zone has different rules and regulations that should be followed. You can choose any zone according to your preferences, business type, and available budget. Different categories of free zones are based on affordability, benefits, and business activities. These factors also decide the cost of setting up a business.  

Dubai Meydan Free Zone (MFZ) 

Meydan Free Zone, established in 2009, is a popular choice for entrepreneurs. It is one of the best zones in Dubai for company formation as it offers many perks to entrepreneurs who want to expand business locally and internationally.

The cherry on top is that it is located near downtown Dubai, providing easy access to important areas, services, highways, airports, and government offices. These factors make it ideal for meeting clients and transferring goods. 

MFZ Company Formation Process

The company formation process in MFZ takes 6 to 8 working days after the required documents are submitted. This process can be done through an online platform, and you do not have to visit the free zone for the visa process.

Decide Business Activities and License

MFZ allows you to choose up to 10 business activities under one license type. Out of these 10 activities, 3 are free of cost. It is recommended that you choose those activities that align with your license type. Choosing activities without proper understanding and knowledge can cause problems in company formation and opening a bank account.

Choose Legal Structure

In the business world, one of four structures can be selected to establish a business. However, in MFZ, you can only choose a branch of an already existing company or a Limited Liability Company structure.

These are easy and quick ways to form and register a business. Moreover, an LLC provides more flexibility, protection, and benefits compared to a branch option.

File the Required Documents

The third step is to submit the required documents and the application form to MFZ and other authorities. These documents include

  • Visa copies of shareholder
  • Passport of owner with six months validity
  • Contact number and email address
  • Business activities
  • Trade name confirmation

The set of documents can differ for individual shareholders, company branches, and corporate shareholders.

Obtain Your License

After submitting documents, the registration process takes 6 to 8 working days. Upon completion, you can collect the following licenses and certificates to run your business legally in MFZ.

  • Trading License
  • Articles of Association (AOA)
  • Memorandum of Association (MOA)
  • Lease Agreement

Get Establishment Card

Establishment cards are mandatory for performing business activities. It contains important business details such as trade name and visa quota.

Apply for Entry Permit

To complete the visa process, you should have an entry permit so you can complete the medical test and biometrics. If you are already in the UAE, your visa status will be changed automatically to residency from travel visa. If a permit is issued and you are outside the UAE, you must enter the UAE within 60 days to complete the visa process.

Take a Medical Test

A medical test ensures the applicant is free from contagious diseases. A medical examination usually includes a blood test and chest x-ray. In case of any disease such as hepatitis, TB, and HIV, the application might be rejected. If you test negative, you can complete the visa processing.

The number of visas depends on the package you choose for your business. Several packages allow more visas, which is suitable if you have a bidding company that demands more employees.

Keep in mind that your presence is mandatory in MFZ, as the visa process cannot be completed through an online portal or outside the country.

Collect Emirate ID

After the issuance of a visa, you can apply for an emirate ID.

Open Bank Account

The final step is to open a bank account at any bank suitable for your needs by providing the required documents. Make sure you have provided accurate information while filling out the application form.

Meydan Free Zone Cost

In Meydan free zone cost of a business license is not fixed; it varies with the number of business activities and the number of visas required. The license cost starts at AED 12500.

Zero-Visa License

This license package includes

  • 3 Business Activities: You are allowed to choose up to three types of services of your interest 
  •  Registration Fee: You do not have to pay extra charges for registration of your company in UAE
  • Flexi Desk: Office space is mandatory for free zone business. It can be a separate office or a shared working space such as a flexi desk. In this package, you get free access to a Flexi desk.

1-Visa License

The cost of one visa license is AED 14,370. This package includes a license, three business activities, setup cost, and one visa.

3-Visa License

It costs AED 18070 and is ideal for a small team. It offers 3 visas for partners and employees.

With the increase in cost, the number of activities and visa quotas also increases. If you want to choose more business activities and visas, you need to pay a higher amount.

Meydan Free Zone License Renewal

In Meydan Free zone license renewal process is simple and straightforward. The fee for renewal is the same as the fee you paid to register for the first time: AED 12,500 without any visa quota. There is no extra fee in case you need to make some amendments to your business activities.

To renew your license, you need to submit an application and required documents to the MFZ authority. Pay the renewal fee and wait for the license to be renewed to continue business activities. The license is valid for one year only.

Benefits of Meydan Free Zone

Meydan Free Zone offers unlimited benefits to investors and makes the UAE a hub of commerce and investments. Below are some glaring benefits of setting up a business in the Meydan free zone. 

  • Ownership 

If you establish a business in the Meydan free zone, you have 100% ownership. This means there is no need for a local partner, which is the most attractive benefit for entrepreneurs. However, a local partner holding 51% of your company is mandatory in other areas. 

  • Easy Processing 

The system in the Meydan free zone is efficient and offers convenient and easy processing. You can register your company and apply for a license within weeks. This easy process and hassle-free system make it a popular choice.

  • Text Exemption 

Another advantageous feature of the Meydan free zone is the tax-free system. When establishing a company, you don’t have to pay any kind of tax, whether corporate or personal. 

 

Conclusion

For entrepreneurs, the Meydan free zone is no less than a blessing. It offers notable features that are not available in any other free zone. Investors can choose any business activity based on their interests. The favorable environment, low setup cost, and easy license renewal process in MFZ are the key factors that attract everyone. Get your MFZ license and enjoy all the perks offered to investors.

Starting a business can be challenging without the guidance of professionals. Reach out to Al Riyady for assistance. Our experts can help you set up your business and obtain a UAE Golden Visa.

FAQs

Yes, everyone is allowed to establish business in MFZ. There is no restriction whether you are a local, foreign, seasonal businessman, or entrepreneur. The rules and regulations are the same for everyone and must be followed to avoid penalties and fines.

MFZ offers investors two types of licenses.

  1. Commercial license
  2. Professional License

No, opening a bank account remotely to get an MFZ license is impossible. Clients’ presence is mandatory in UAE after a permit is issued to verify clients’ identity.


Leave a Reply

Your email address will not be published. Required fields are marked *


Related Posts:

Book Your Free Consultation

Sidebar