Advantages of setting up in MFZ:
- Guaranteed 100% ownership of the business both for individuals and corporate entities.
- Investors are given the liberty to operate their business through a Flexi desk in Meydan free zone.
- Guaranteed 100% repatriation of invested capital and profits gained.
- Extremely efficient licensing and registration procedure for company formation.
- Lowest setup and renewal costs for free zones in Dubai.
Fee for the initial set up:
- Registration fee – AED 10,010 / (one-off payment)
- Trade License fee AED 10,010/- ( This covers one activity only) – renewable every year
- Virtual office fee AED 6,000 /- (renewable every year)
Required Documents for all shareholders are:
- Business plan (at least for 3 years).
- Original Bank reference letter or 6 months bank statements (stamped by the bank).
- Proof of Address (E.g. Lease agreement or title deed.)
- CV of the shareholders.
- Passport copies and visa page copies of the shareholders.
- 3 options for name reservation.
Minimum share Capital requirement
- AED 100,000/- Authorized capital
Forms to be submitted
- Registration & Licensing Application Form.
- Memorandum of Association (to be signed at our office).
- Articles of Association (to be signed at our office).
- Specimen signature form (to be signed at our office).
- To initiate the Free Zone Company Establishment Process, all submitted documents should be originals and attested/notarized by relevant UAE Authorities.
- There is a Flexi-desk option which gives you the option of 2 visas
- Management consultancy is the chief activity permitted
- All the activities offered to mirror the ones in the register of Department of Economic Development, Dubai, UAE
- The fee quoted above includes only government fees and does not factor consulting fees or any add-ons in terms of activities or additional facilities required.
This post first appeared on How To Start A Business Hamriyah Free Zone (HAFZA), please read the originial post: here