Mixing professional and commercial-free zone activities under one license
UAE offers a series of opportunities to its foreign investors. Also, the company formation in free zones can provide huge advantages as one can pursue a set of mixed activities under one license in Dubai. UAE is one of the leading business hubs in the world. The constantly evolving economy has provided businesses to grow at a higher rate and thrive in no time. This attracted a majority of global investors and entrepreneurs around the globe.
The free zone companies are liked by everyone and offer a series of benefits that incorporate company formation, no currency restriction, and exemption from corporate tax for 15 years. The rules and regulations of the free zone jurisdictions tend to stay the same. The free zone has jurisdiction in the UAE where they allow investors to pursue maximum free zone activities with one license.
What is the professional and commercial license?
There are a series of activities that can be mixed under a single license as it offers huge benefits. The free zones are favorite and stand out from the crowd that cannot be done on the mainland. Mixing of the activities under a single license saves time also it is a cost-efficient process that requires zero documentation and provides a platform to pursue different businesses under a single brand and website domain.
Benefits of forming a company in Freezone
Here are some benefits of forming the company in a free zone such as
- No requirement for the investor to submit the annual audit report.
- Users can get up to 3 years of visas for owners and employees.
- There is no requirement for an employee guarantee deposit to the free zone.
- Permission to open the virtual office.
- There is no requirement for investors to be physically present during the formation of a company.
- No NOC is required from the current visa sponsor.
Process of getting a mixed license in Dubai Freezone
- Firstly, determine the type of license and business activity.
- Choose the specific free zone that suits your business.
- Determine the type of corporate structure required for business.
Here is the type of legal structure that you can form in the free zone such as
- Free zone company limited liability company (FZC LLC)
- Free zone establishment limited liability company (FZE LLC)
- Free zone company
- Free zone establishment
- Branch company.
Application & Submission of required documents
After completing the previous steps such as
- Application
- Immigration card
- Entry permit
- Stamping, Medical Test & Emirates ID
Documents required to open a business in Dubai Freezone such as
- Passport copy
- VISA copy
- Emirates id copy (if required)
- Passport photo
- Business plan for free zones and other specified activities.
- Choose an office or virtual office depending on the free zone.
- Open a bank account.
Bottom Line
If you are looking to start a business in the free zone by mixing professional and commercial activities in one license, FlyingColour Business Setup Services can help you every step of the way and ensures the entire process runs smoothly in the UAE.
