Establishing a company in the studio city free zone in Dubai

Some people would like to know how to establish a company in the free zone in Dubai Studio City because it is known about the free zone that it was established in Dubai Studio City in the year 2005 by decision of the Dubai government. Dubai Studio City is an incubator for institutions and companies working in the field of artistic, media and film production, the Internet and technology. It is one of the free zones affiliated with the TECOM Group, and is located close to Dubai Airport. It hosts more than 250 companies, and employs more than 2,500 employees from more than 90 different nationalities. The Dubai Free Zone Authority offers studios multiple investment packages for them to choose from, according to what suits their budget on the one hand and their aspirations on the other hand.

Establishing a company in Studio City, Dubai

Establishing a company in Studio City, Dubai

Establishing a company in the Studio City Free Zone in Dubai provides many advantages that make it an ideal destination for investors and entrepreneurs. There are also many advantages in establishing a company in Dubai, which are as follows:

• One of the most prominent advantages is the objectivity of company registration costs and expenses
• The privacy of the location, as Dubai Studio City is located near the heart of Dubai and is about 30 minutes by car from Dubai International Airport.
• Ease of recruitment and operation because it is located near the heart of Dubai
• It is connected to a transportation network
• No restrictions on hiring and employing foreigners
• There are no restrictions on paying salaries and wages to foreign workers and employees
• There are no restrictions on transferring funds to and from the company’s account
• There are no restrictions on transferring employees’ wages and salaries outside the free zone or to their country
• No taxes on wages or salaries
• Export taxes do not exist
• No customs on import
• The company is fully owned 100% by its owners
• Freedom to sell the company
• The freedom of the company to own a property within the free zone
• Providing housing for employees and workers
• Owning cars, equipment and means of transportation
• Issuing work permits for workers and employees
• Issuing a permit or residence permit for workers or employees
• Issuing a residence permit for employees’ families
• Enrolling workers’ children in schools and universities in Dubai
• Provides medical services from international and local providers in Dubai
• It provides health insurance services from international and local service providers in Dubai.

The importance of the necessary licenses to establish a company in the free zone

The necessary licenses to establish a company in Studio City in Dubai in cooperation with Itqan Company are of utmost importance to achieving the success and sustainability of the business. These licenses ensure full compliance with local laws and regulations, allowing the company to operate confidently and legally. It also provides a safe and conducive environment for growth and innovation in the media and production sector. Cooperation with Itqan Company provides extensive experience and knowledge of the procedures for obtaining a commercial license , which facilitates the process, reduces administrative challenges, and ensures the effective acceleration of the start of commercial operations. This integration of professional support and correct licenses contributes to building a strong reputation for the company and enhances its ability to attract future investments and partnerships.

The cost of establishing a company in the free zone

Establishing a company in the Studio City Free Zone in Dubai in cooperation with Itqan Company requires taking into account several financial aspects that contribute to determining the final cost. These aspects include fees associated with issuing and renewing business licenses, and the costs of renting offices or commercial spaces suitable for the company’s activity. In addition, costs include fees for administrative and consulting services provided by Itqan to facilitate the establishment process and ensure compliance with all local laws and regulations. Cooperation with Itqan Company also includes obtaining integrated support in preparing the required documents and accelerating bureaucratic procedures, which contributes to saving time and effort and enhancing the chances of project success.

In addition, the cost can include trade name registration fees, attorney and legal services fees, and costs of obtaining the necessary approvals and permits from the relevant authorities. There may also be additional costs associated with marketing and advertising to successfully launch the company in the local market. Cooperating with Itqan Company guarantees you access to specialized advice and accurate information about all these aspects, which helps you plan effectively financially and avoid any unexpected costs. This comprehensive approach allows you to focus on developing your business and making the most of the investment opportunities that Dubai Studio City has to offer.

Steps to establish a company in the free zone

Establishing a company in the Dubai Free Zone requires following organized steps that ensure obtaining the necessary license and operating the company legally and effectively. Here are the basic steps to establish a company in the free zone:

• Choose the type of company: Select the type of company you wish to establish, whether it is a limited liability company, a branch of a foreign company, or a representative office.
• Choosing a trade name: Choose a trade name that complies with local laws and free zone rules. Make sure the name is not registered to another company.
• Submit an initial application: Submit an initial application to the competent free zone authority, including the trade name and type of proposed business activity.

Preparing and submitting the required documents

1. Passports of owners, shareholders and managers.
2. A detailed business plan explaining the company’s activity and goals.
3. Completed license application form.

• Signing the lease contract: Choose a suitable location for the company’s office or commercial space within the free zone and sign the lease contract.
• Payment of fees: Pay the fees required to obtain a commercial license, which include registration, licenses, and lease fees.
• Receiving the commercial license: After reviewing and approving the application, you will obtain the commercial license that allows you to practice commercial activity in the free zone.
• Opening a bank account: Open a bank account in the name of the company in one of the approved banks in Dubai.
• Completing residency procedures: If you plan to employ foreign employees, complete the procedures for obtaining residence visas for them in cooperation with the free zone.
• Starting operations: Once you complete all the previous steps, you can start your company’s operations in the free zone.

Following these steps carefully will ensure that your company is established in the Dubai Free Zone legally and effectively, allowing you to benefit from the many advantages that these zones offer.

Conditions for establishing a company in the free zone

Establishing a company in the Studio City Free Zone in Dubai in cooperation with Itqan Company requires compliance with a set of conditions to ensure that the process proceeds successfully and in accordance with local laws and regulations. The following are the basic conditions for establishing a company in this free zone:

• Choosing the type of company: You must specify the type of company you wish to establish, whether it is a limited liability company (FZ-LLC), a branch of a local or foreign company, or a representative office.
• Choosing a trade name: Choosing a trade name that complies with local standards and laws, and must be unique and not registered to another company.
• Submitting a business plan: Preparing and submitting a business plan that explains the business activity, goals, and services or products that the company will provide.
• Submitting legal documents: including copies of passports of shareholders and directors, recent personal photos, and the company’s articles of incorporation and articles of association.
• Signing the lease contract: Renting an office or commercial space in Studio City in Dubai and signing the lease contract with the competent authority.
• Obtaining initial approval: Submit an application to obtain initial approval from the free zone authority, which includes submitting all required documents and fulfilling the initial conditions.
• Opening a bank account: Opening a bank account in the name of the company in one of the approved banks in Dubai to manage the company’s financial affairs.
• Registration and licensing: Pay the required fees and submit all final documents to obtain a commercial license from the free zone authority.
• Compliance with laws and regulations: Compliance with all local laws and regulations related to the operation of companies in the free zone, including environmental, health and security conditions.
• Completing residency procedures: If establishing the company requires employing foreign employees, procedures for obtaining residence visas for them must be completed in cooperation with the free zone.

Cooperation with Itqan Company ensures the efficient implementation of these conditions, as Itqan provides advisory services and comprehensive support at every step of the establishment, which facilitates the process and ensures compliance with all legal and administrative requirements.

Documents necessary to establish a company in the free zone

To establish a company in the Dubai Free Zone, you must submit a set of necessary papers and documents to ensure that the procedures are completed correctly. Here is a list of required documents:

• License application form: Fill out the license application form available at the competent free zone authority.
• Passport copies: Provide copies of passports of all shareholders, directors and any authorized persons.
• Personal photo: Provide recent personal photos of all directors and shareholders.
• Business Plan: Prepare and submit a detailed business plan that explains the company’s activity, objectives, and the services or products it will provide.
• Power of Attorney: If the application is submitted by an agent, a certified power of attorney must be submitted.
• Memorandum and Articles of Association: Preparing and submitting the company’s memorandum and articles of association, which outlines the company’s structure and the rights and duties of shareholders.
• Lease Contract: A copy of the lease contract for the office or commercial space within the free zone.
• Initial approval: If there is initial approval from the competent authorities, a copy of it must be submitted.
• No Objection Certificate (NOC): In case one of the shareholders or directors is an employee of another company within the UAE, there may be a need to provide a NOC from their current employer.
• Proof of Address: Provide proof of local address (such as a utility bill or lease) to shareholders.
• Financial Details: Provide details of the company’s authorized and paid-up capital, if required by the free zone.

Requirements vary based on the type of business activity and the specific free zone, so it is necessary to contact Itqan to obtain an updated and accurate list of required papers.

Conditions for establishing a company in the free zone

Types of companies in the free zone

Here is a table showing the types of companies that can be established in the Dubai Free Zone in Studio City:

These types provide investors with various options for establishing companies according to their commercial and investment needs, while taking advantage of the advantages provided by free zones in Dubai. Contact Itqan experts to establish companies and invest in Dubai.

Advantages of establishing a company in the Studio City Free Zone in Dubai

Establishing a company in the Studio City Free Zone in Dubai provides many advantages that make it an attractive destination for investors and entrepreneurs in the field of media and production, in addition to the following advantages:

• 100% retransfer of capital and profits abroad
• 100% exemption from import and export duties
• No tax is imposed on corporate gains or personal income in most cases
• No restrictions on the use of currency
• Low cost of operations
• Pre-built offices, factories and warehouses
• Fast establishment and licensing procedures
• Single window for customs clearance; That is, multiple administrative services in one station
• Provides labor recruitment assistance and additional support services, such as sponsorship and on-site housing
• Abundant and inexpensive energy
• Excellent infrastructure, communications, and attractive work environment

At the conclusion of this article, it can be said that establishing a company in a free zone is considered a strategic and wise step for investors and entrepreneurs, as these areas provide a suitable legislative and economic environment that facilitates procedures for starting a business and encourages growth and innovation. The Dubai Free Zone provides a unique opportunity for companies to benefit from the advanced infrastructure and specialized advisory services provided by companies such as Itqan, making the incorporation process easier and more effective.

Thanks to tax breaks and flexible policies, companies in the free zone can achieve high levels of profitability and success. In addition, these regions provide a dynamic and diverse business environment, where companies can take advantage of innovations and modern technologies to excel in their markets.

Frequently asked questions about establishing a company in the free zone