The Meydan Free Zone is situated in the heart of Dubai, in close proximity to the city’s primary business district. It is a Free Zone in Dubai where you can start a business at a low cost. International investors flock to Meydan to set up shop and grow their companies.
Companies with lower starting capital requirements can grow more quickly in Meydan, one of the world’s most cost-effective business hubs. International horse racing and equestrian sports competitions are hosted by the Meydan Group in an effort to strengthen ties between the United Arab Emirates and the rest of the globe.
In addition to a wide range of businesses, this Free Zone in Dubai is home to a number of high-tech business parks, residential communities, schools, and hospitals as well as high-rise commercial towers with luxury waterfront buildings.
There are no taxes, no currency restrictions, and the opportunity to hire international workers, as well as high-speed internet connectivity and no duty payments on imports or exports in the Freezone.
Meydan Dubai has a lot to offer in terms of starting a business in the Dubai Free Zone because of its strategic position, excellent connections, and cutting-edge infrastructure. If you’re interested, keep reading. You’ll have an easier time starting a business if you follow the suggestions in this article.
How to Setup a Business in Meydan Free Zone?
The method for establishing a firm in the Meydan Freezone is user-friendly, open to public scrutiny, and efficient. The procedure may be broken down into simple parts, each of which is described below.
Determine the kind of commercial activity being conducted. In order to successfully apply for a trade license, you will need to have a solid understanding of how your chosen activities fit into each of these categories.
Complete the application form, and attach any supporting materials you may have.
Open an offshore bank account in Dubai
Register the business name, and place a hold on it, with the authority of the Meydan.
Take care of the registration and licensing needs of the company.
Obtain the shareholders’ signatures on the company formation forms and have them done so in the presence of the officials from the Meydan Free Zone Authority.
Documents Required for Company Formation in Meydan Free Zone
The establishment of a business in the Meydan Freezone requires the submission of certain paperwork, which may differ depending on the type of license being applied for. Following is a list of documents required:
Certificate of incorporation
Memorandum & articles of association
Resolution of Board to set up a new company
Certificate of incumbency
Copy of your Passport
Copy of your residence visa
Copy of your emirates id
Original Reference letter from Bank
Why Choose Meydan Free Zone for Setting up Your Business in UAE?
Due to its convenient location, starting a business in the Meydan Free Zone can give you a lot of big advantages. Hidden in Dubai’s commercial sector, the Meydan is excellently positioned to conduct business with Europe, Asia, and Africa’s large markets, all of which are within a few hours’ drive.
Corporate infrastructure and networking opportunities abound in the Meydan. It will offer a limited number of substantial economic incentives to the investor who establishes a business there.
In addition, the Meydan Freezone has been designed with the interests of company owners in mind. A comprehensive licensing package for business is available in Dubai’s Meydan, and it’s both affordable and convenient.
It is one of the most competitive Free Zones available to investors who want to relocate to Dubai and launch a business. There are around 1500 distinct commercial activities available to investors in Meydan.
A limited liability company license or Dubai trade license will be granted by the Free Zone to any business that wants to start a business in the country.
Advantages of Meydan Free Zone Company Formation
Following is a list of benefits that can be obtained by setting up your business with Meydan Freezone:
Downtown Dubai location that is favorable for commercial activity.
A very safe environment for conducting business.
The most cost-effective business center in a strategic location.
Dubai Logistics Corridor is close to Mohammed Bin Rashid Al Maktoum City.
Meydan Dubai Freezone is perfect for small and medium-sized businesses due to its low costs.
Ownership of one hundred percent of the company by foreigners and sole shareholders.
Possibility to carry out operations using a Flexi desk.
An environment that is safe and regulated.
50-year guaranteed tax holiday for individuals and corporations.
100 percent capital repatriation, no capital deposit requirements.
There are no monetary constraints.
Quick and simple procedures for forming companies.
Company Setup Cost in Meydan Free Zone (MFZ)?
The fee for establishing a business in the Meydan Free Zone is AED 21,020. This includes the first year’s license price and registration costs, as well as the certificate of incorporation, business name reservation, and the articles of incorporation themselves.
For visa applications, a workstation must be rented in the Free Zone. Leasing a workstation costs 6,000 AED per year. A maximum of four hours per week can be spent at this shared workstation. In order to open a file, the company must notify the appropriate immigration authorities. An establishment card can be purchased for 520 dollars.
The first year’s expenses come to AED 27,540. The annual charge for maintaining a business license is AED 15,000 in Dubai. The administrative desk rental and the annual fee for renewing the establishment card add up to AED 21,500 each year.
There are numerous licensing options available in the Meydan Free Zone that are reasonably priced for sole proprietors and small firms that are just getting started. People who want to open a business in the immediate vicinity of Dubai’s downtown area may also find this an attractive option.
The first step in starting a business is deciding on a legal structure. It will be the sole factor in determining how your company deals with legal difficulties, such as profits, losses, and assets.
1. Sole Establishment
A single person’s business is referred to as a solitary establishment. This person is in charge of every aspect of the business, and as such, he or she bears exclusive accountability for its profits and losses.
2. Limited Liability Corporation
Businesses that want to market their products in a certain geographic area are often advised to form a limited liability corporation or LLC. If the company goes bankrupt, the owner’s personal liability for the company’s debts is reduced thanks to an LLC. Learn LLC Company Formation in Dubai.
3. Branch Office
When a smaller, less well-known corporation owns a branch office, it’s considered an offshoot. The parent branch’s legal structure will contain all of a branch’s duties.
FAQs about Meydan Free Zone Company Formation
Is Meydan’s Free Zone good for Business?
Established in 2009, the Meydan Free Zone at Dubai’s Meydan Hotel is a bustling hub for entrepreneurs from the United Arab Emirates and throughout the world to launch new ventures.
If you want to impress customers, grow your business, and have fun, the Meydan Free Zone is the place for you! The zone’s attraction is enhanced by the building’s striking glass and steel facade and its proximity to the Meydan racetrack and golf club in central Dubai.
Can Free Zone Companies do business on Mainland?
A Freezone company can conduct business on the mainland by registering its branch with the Ministry of Economy and the Department of Economic Development. The subsidiary must operate in the same industry as the parent company and share its name.
What is a Free Zone license?
A license/permit is required to conduct business in Free Zone, which is known as a Free Zone license. Through Free Zone permits, enterprises of all sizes, from start-ups and small businesses to multinational corporations, can take advantage of a variety of benefits to operate in Dubai.
Setting up a business in Dubai does not have to be too complicated if you are armed with the appropriate knowledge. This is especially true when you open up a business in the Meydan Free Zone.
It is one of the best free zones in Dubai available to investors who are interested in settling down in Dubai and beginning a business there. It is also a viable option for people who want to begin their journey in close proximity to Dubai City center, the Burj Khalifa, and Downtown Dubai.
If you want information regarding other Free Zones, we suggest you check out other articles on free zones in UAE. If you want to learn more about business setup in Dubai, we have an in-depth guide for that too.
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