01 Jul Establishing a company in the Dubai Production City Free Zone
Some investors would like to know about establishing a company in the Dubai Production City Free Zone because it is known that Dubai Production City is one of the most prominent free zones in the United Arab Emirates, as it provides an integrated environment to support businesses and companies in various fields. Establishing a company in this region is considered an excellent strategic step to achieve success and growth, due to the many advantages it offers in terms of advanced infrastructure, encouraging government policies, and a distinctive strategic location. In cooperation with “Itqan” Company, investors and entrepreneurs can benefit from their extensive experience and deep knowledge of the local market and legal procedures, which facilitates the company establishment process and saves time and effort. Whether you aspire to start a new company or expand your business, Dubai Production City offers opportunities to smoothly achieve your goals. In this article, we will review the most important steps for establishing a company in the Dubai Production City Free Zone, with a focus on how to benefit from “Itqan” services to achieve the desired success.
Establishing a company in the Dubai Production City Free Zone
Steps to establish a company in the Dubai Production City Free Zone
The steps for establishing a company in the Dubai Production City Free Zone require implementing several important steps to ensure that the establishment process proceeds successfully and effectively. Here are the steps for establishing a company in the Dubai Production City Free Zone:
Study the market and develop a basic plan
- Study the local and global market to understand opportunities and challenges.
- Develop a comprehensive business plan that includes goals, strategies, and financial expectations.
- Decide on the appropriate company type, such as a sole proprietorship, joint-stock company, or limited liability company.
Determine the main activity of the company
- Determine the company’s main activity according to the permits available in the free zone.
- Choose a suitable name and check its availability to ensure it is not similar to other company names.
- Locate the company in Dubai Production City Free Zone and secure the rental contract.
Preparing documents
- Prepare the required documents: such as passport, personal photos, and legal powers of attorney.
- Submitting a registration application: Submit a registration application for the company in the Dubai Production City Free Zone and attach the required documents.
- Obtaining licenses and permits: Obtain the necessary permits and licenses to conduct commercial activity in the free zone.
- Open a bank account: Open a bank account in the name of the company and deposit the required capital.
- Recruiting employees if necessary: Start the hiring process for the employees needed to run the company.
- Compliance with legislation and controls: Ensure compliance with all local and international legislation and controls related to the company’s activity.
- Getting started: After completing all procedures and licenses, start operating the company and implementing the business plan.
Every organization must cooperate with Itqan consultants to ensure full compliance with local laws and procedures, and achieve success and sustainable growth in the Dubai Production City Free Zone.
Papers for establishing a company in the free zone
The basic documents and papers that you may need to establish a company in the Dubai Production City Free Zone include:
- Passport copy: All shareholders and authorized directors of the company need copies of their passports.
- Personal photos: Recent personal photos of both shareholders and directors.
- Powers of Attorney: If you plan to appoint a specific person to manage the company, an approved power of attorney will be required.
- Leases and real estate: If a company intends to rent office or space for their business, they will need leases and related property documents.
- Financial Documents: The free zone may require obtaining financial proof such as financial statements and audit reports to confirm the company’s ability to operate its business.
- Details of shareholders and directors: Detailed information about the major shareholders and directors of the company must be provided, including date of birth, nationality, address and contact details.
- Feasibility studies reports and practical plans: The free zone can request reports of feasibility studies and practical plans to evaluate the viability of the company and its plan for growth and expansion.
- Legal Documents and Licenses: Necessary legal documents such as certificates of incorporation and government licenses required for the business must be provided.
- Registration application forms: The required registration application forms must be submitted by the relevant authorities in the free zone.
Remember that the required documents may vary based on the type of company and its activity, and it is always advisable to check the exact requirements of the free zone and cooperate with professional legal advisors to ensure that all legal formalities are properly fulfilled.
Types of companies in the free zone
Here are the common types of companies in the free zone in the form of a table, and you can contact Itqan Company, which helps you know all the necessary details about the types of companies and how to establish them:
| Type of Company | a description |
|---|---|
| Sole proprietorship | A company owned by one individual who is solely responsible for its debts and obligations. |
| A limited liability company | The owners’ liability is divided into the company’s assets and their personal assets. |
| Shareholding company | Its shareholders own equity shares and their liability is limited to the value of these shares. |
| A limited liability company | Their owners have limited liability, but they are managed by authorized directors. |
| Private joint stock company | It is used to raise funds from specific shareholders for a specific purpose, but not in general. |
| Public company | It is considered one of the companies in which the public can participate by purchasing shares. |
| Subsidiary | It is affiliated with a parent company and works under its management, and participates in its profits and losses. |
| Joint company | It is established between two or more companies to achieve a specific goal together, and profits and losses are divided between them. |
This table can clearly detail information about the types of companies that can be established in the free zone, which helps in making the appropriate decision about the appropriate type of company for the planned business.
Advantages of establishing a company in the Dubai Production City Free Zone
Establishing a company in Dubai Production City Free Zone comes with many advantages that make it an ideal choice for entrepreneurs and investors. These advantages are:
- Advanced infrastructure: The free zone provides advanced infrastructure, such as modern and advanced transportation and communications facilities, which facilitates shipping and distribution operations and enhances communications between companies and customers.
- Government guidance and support: The free zone enjoys strong support from the local government, as it provides a range of tax and customs incentives and facilities to joining companies, which enhances its attractiveness to investors.
- Access to global markets: Thanks to its strategic location, the Dubai Free Zone gives companies easy access to regional and global markets, opening new horizons for expansion and growth.
- Flexible legislation: The free zone has flexible legislation suitable for entrepreneurship, which facilitates administrative procedures and reduces regulatory obstacles.
- Diverse commercial environment: The free zone has a great diversity in the activities of existing companies, which creates a dynamic commercial environment that allows the exchange of knowledge and experiences and enhances opportunities for cooperation and partnerships.
- Economic freedom: The free zone provides an economic environment free from restrictions and obstacles, allowing companies to compete effectively and achieve innovation and growth freely.
In short, Dubai Production City Free Zone is an ideal destination for establishing companies due to the great opportunities it provides, and the strong support it provides to investors and entrepreneurs to achieve their goals and achieve success in an innovative and dynamic business environment.
The cost of establishing a company in the free zone
The cost of establishing a company in the Dubai Production City Free Zone is affected by several factors, including the type of company, the size of the business, and the services required. In general, the cost of establishing the company can be estimated approximately as follows:
- Registration and license costs: These costs include company registration fees and government licenses required to conduct business activity in the free zone.
- Contract and rental costs: If the company needs rental contracts for offices or industrial space in the free zone, the costs will include securing these contracts and annual rentals.
- Necessary capital: The capital requirements needed to establish a company depend on its type and legal classification, and some types may require greater capital than others.
- Consulting and legal costs: You may need consulting or legal services to guide you through the process of establishing the company and securing the necessary legal procedures.
- Consulting fees: If consulting or legal services are obtained from outside firms, there may be additional consulting fees.
You should also keep in mind that costs may vary depending on free zone policies and legal changes, so it is always advisable to speak with Itqan’s specialist advisors to accurately estimate costs based on the company’s individual circumstances.
Steps to establish a company in the Dubai Production City Free Zone
How can you establish a company in the free zone ?
Establishing companies in the free zones in Dubai is much easier than establishing a company inside Dubai, as it can be 100% owned by any nationality, and the presence of a partner or sponsor who is a citizen of the UAE is not required, as the company is registered as a free zone establishment or it is a company belonging to The free zone or a branch or representative office in the free zone in Dubai. In this case, it is possible for the main company to be outside the Emirates, and it is not required to be inside the Emirates. The companies located within the free zone are regulated through the authority responsible for the free zone, which is the one that issues any licenses to the company. This depends on the location of the free zone and the activity it carries out. The type of license issued by the responsible authority varies according to the commercial activity. A company can be established in the free zone by following some steps, including:
- Choose the company’s location
- Agreeing on the trade name, as it is the name that distinguishes one company from another.
- Obtaining the company’s business license.
- Obtaining initial approval to start work.
- Commercial license registration.
- Complete the requirements for a commercial license and obtain it.
Establishing a company in the free zone
Companies wishing to establish their business in the Dubai Production City Free Zone can find an ideal environment for growth and expansion. This region is considered one of the preferred destinations for companies interested in sectors such as media and creative production, as it provides advanced infrastructure and integrated services that support production and distribution operations with high efficiency.
In cooperation with Itqan Company, investors can benefit from extensive experience and knowledge in the processes of establishing companies in the free zone. Itqan Company provides the necessary support and consultations to ensure that the establishment process is carried out efficiently in accordance with the legal requirements and legislation of the free zone.
Thanks to continuous investments in improving infrastructure and facilitating administrative procedures, Dubai Production City Free Zone is an ideal destination for companies seeking to achieve success and excellence in the world of business and creative production.
At the conclusion of our article, we talked about establishing a company in the Dubai Production City Free Zone, which is one of the important strategic steps for companies that want to grow and expand in the creative and media production sectors. In addition, this region provides advanced infrastructure and integrated services that support production operations with high efficiency, and provides… A business environment conducive to innovation and development.
With Itqan Company as a reliable consulting partner, the company establishment process can be facilitated and compliance with the legal requirements and legislation of the free zone can be ensured. Itqan Company provides the necessary support and advice to investors to ensure the success of the establishment process and starting business with confidence and sustainability.
By choosing the Dubai Production City Free Zone, companies invest in a dynamic and innovative business environment that contributes to enhancing growth and achieving success in the local and global market.
Frequently asked questions about establishing a company in the free zone
What are the main advantages of establishing a company in Dubai Production City Free Zone?
Providing advanced infrastructure. Exemption from taxes and fees on import and export. Possibility of full ownership by foreigners. Simplified and fast establishment procedures.
What are the main steps to establish a company in the free zone?
Determine the type of company and economic activity. Choose the company name and submit the application. Identify shareholders, directors and responsibilities. Submit the required documents and pay the fees.
What are the fees and costs associated with establishing a company in the free zone?
Fees and costs vary depending on the type of company, size of capital, and services required. Fees may include company licensing costs, consulting and administrative services.
Can foreigners obtain local financing to establish a company in the free zone?
Yes, foreigners can obtain local financing from approved banks and financial institutions based on their requirements and ability to pay.