For entrepreneurs and businesses looking to tap into the UAE’s dynamic economy, the Meydan Free Zone in Dubai is an attractive location. Known for its state-of-the-art infrastructure, strategic location, and business-friendly environment, Meydan Free Zone has emerged as a top choice for setting up a company. Whether you’re starting a new business or expanding an existing one, this free zone offers a range of benefits that make it an ideal place for various industries, including technology, media, and trade.
In this post, we will explore the process of company setup in Meydan Free Zone, the types of business licenses available, the key benefits of establishing a business in this free zone, and the associated costs.
Why Choose Meydan Free Zone for Your Business?
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Prime Location
Meydan Free Zone is located in the heart of Dubai, offering easy access to key locations like Dubai International Airport and Port Rashid. The proximity to Dubai’s central business district and major transport networks makes it an ideal location for businesses with both regional and global aspirations.
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Modern Infrastructure
The free zone is home to world-class infrastructure, including high-tech office spaces, meeting rooms, warehouses, and commercial facilities. These modern facilities make it easier for businesses to scale and operate efficiently.
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Tax Benefits and Incentives
One of the main reasons businesses choose to set up in Meydan Free Zone is the attractive tax benefits. Companies in the free zone can enjoy tax exemptions, including no corporate or personal income tax for a specified number of years, depending on the type of business and the license obtained.
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Flexibility in Business Activities
Meydan Free Zone allows companies to engage in a variety of business activities, from trading and manufacturing to services and consultancy. This flexibility makes it a suitable location for businesses across various sectors.
Types of Business Licenses in Meydan Free Zone
The following are the main types of licenses available:
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Commercial License
A commercial license is issued to businesses involved in importing, exporting, or trading goods. This type of license is suitable for businesses looking to trade in physical products, including retail or wholesale companies.
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Service License
If your business focuses on providing services—whether professional or consultancy—a service license is required. Companies in sectors such as IT, media, legal services, or business consultancy would fall under this category.
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Industrial License
Businesses involved in manufacturing, processing, or assembly activities need an industrial license. This license is typically required for businesses engaged in producing goods or raw materials.
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E-commerce License
For businesses that operate purely online, an e-commerce license is necessary. This license applies to businesses engaged in digital sales, including online stores, tech solutions, and digital marketing services.
Steps to Set Up a Company in Meydan Free Zone
Setting up a company in Meydan Free Zone is a straightforward process, thanks to the free zone’s streamlined procedures and regulatory support. Here is an overview of the steps involved:
Step 1: Choose Your Business Activity
The first step is to decide the type of business activity you wish to pursue. Your choice of business activity will determine the type of license you need to apply for.
Step 2: Select a Company Name
Once you’ve identified your business activity, you will need to choose a name for your company. The name must comply with Meydan Free Zone’s naming conventions, ensuring it is unique, professional, and does not violate any trademarks.
Step 3: Submit an Application
After selecting your business activity and company name, you can submit an application to Meydan Free Zone’s business setup department. Along with your application, you will need to provide key documentation, including passport copies of shareholders, proof of address, and details of your business plan.
Step 4: Office Space and Facility Selection
Choosing the right office space is crucial for the smooth operation of your business. Meydan Free Zone offers a range of flexible office spaces, from small shared workspaces to larger private offices. Depending on your requirements, you can choose the most appropriate facility.
Step 5: Obtain Initial Approval
Once your application is submitted, the next step is to obtain initial approval from the relevant authorities in Meydan Free Zone. This process is typically quick and hassle-free.
Step 6: Pay Fees and Finalize License
After receiving initial approval, you will need to pay the required licensing fees. These fees vary based on the type of license, office space, and number of visas required for your business. Once the fees are paid, your business license will be issued.
Benefits of Set Up a Business in Meydan
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Full Foreign Ownership
Meydan Free Zone allows 100% foreign ownership, meaning that entrepreneurs can retain full control of their businesses without the need for a local sponsor.
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Exemption from Import/Export Duties
Businesses in Meydan Free Zone benefit from duty-free import and export privileges, allowing companies to trade freely with other countries and within the UAE.
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No Currency Restrictions
There are no restrictions on currency exchange in Meydan Free Zone, making it easier for businesses to deal in multiple currencies and access international markets.
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Visa Options for Employees
Meydan Free Zone offers flexible visa options for employees, allowing companies to sponsor employees under the free zone’s visa program.
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Streamlined Government Services
The free zone’s one-stop-shop for government services ensures that businesses experience minimal delays during setup. From registration to visa processing, the process is quick and efficient.
Costs of Set up a Business in Meydan
Business License Fees: Fees start at approximately AED 15,000, depending on the type of business license and activities.
Additional Fees: There may be additional costs for permits, legal services, and other business setup-related expenses.
Conclusion
Meydan Free Zone offers a wealth of opportunities for businesses looking to set up in Dubai with minimal bureaucracy, cost-effective options, and a variety of licenses tailored to different business sectors. Whether you are an entrepreneur just starting or an established company looking to expand, the free zone provides the right infrastructure, benefits, and regulatory environment to ensure the success of your business.
