The UAE has undeniably made a name for itself as one of the most ideal business hubs in the world. The very reason that it offers an abundance of opportunities and benefits has made it one of the most desirable locations from around the world to start a free zone business.
Dubai, in particular, is a highly developed city with numerous benefits. These benefits range from world-class infrastructures, global connectivity, a flourishing economy, and many more. The country has also set up free zones specifically to accommodate foreign investors by providing them with various benefits for business setup.
What is a limited liability company in a free zone?
A free zone establishment (FZE) or free zone company (FZC) is a limited liability company that is formed and governed by the rules and regulations of the free zone in which it is established.
There are two company structures for free zones businesses: Free zone establishment limited liability company (FZE LLC) and free zone company limited liability company (FZCO LLC). The feature of FZ LLC is that it has a single shareholder, unlike FZCO LLC where one can have multiple shareholders.
A structure of free zone LLC in Dubai and other emirates would also mean that you could only suffer losses up to the amount that you have invested in your company and not any more than that.
It is also worth noting that both, professional and commercial trade license would mean that the free zone company’s structure would be LLC by default. However, this isn’t possible on the UAE mainland. It also helps with obtaining a credit letter with the bank in which the investor has an account
Who can obtain professional
license in a free zone?
A professional license is issued to individuals who are in the service sector. In other words, any business that would require individuals to use their energy and intellectual thoughts would need to obtain a professional license. These could include management consultancies, web design agencies, artisans, service providers, and more.
It is not mandatory for an individual to have a degree in order to obtain a professional license. However, there are exceptions such as educational sectors that may require the shareholders to have the necessary educational qualifications and additional approvals from various authorities.
Benefits of setting up an LLC
company in UAE free zone
· 100% foreign ownership
· Full repatriation of capitals and
profits
· No personal, corporate and export
duties
· Exception from all import and export
duties
· A wide range of business activities
· Various available options for office
space facilities
· UAE residence visa for 3 years
What is the process to obtain a professional license in the UAE
free zone?
In order to obtain your Dubai LLC license, you will need to go through the following process:
· Select the ideal jurisdiction for
company
· Apply for company registration
· Submit all required documents based
on the chosen free zone
· Pay the required amount for license
What are the required documents to obtain a professional license
with LLC structure in a free zone?
· Application form and certificate of
incorporation
· Passport copy of the
investor/investors
· Visa copy of the investor/investors
· Emirates ID copy (if required by the
chosen jurisdiction)
· Two colored passport sized
photographs with white background
· Along with the above, you may also
be required to submit additional documents depending upon the selected free
zone.
Which free zone is the most
ideal to start an LLC company?
If you are looking to obtain your professional license with an LLC structure in Dubai, then IFZA is one of the best options. IFZA, also known as International Free Zone Authority, has become one of the leading investment hubs in the UAE.
Some of the highlights of setting up a business in IFZA include:
· 1 free lifetime investor visa
· No requirement for the investor to
submit an annual audit report
· No paid-up share capital requirement
· Up to 3 years visa for owners and
employees
· No requirement for employee
guarantee deposit to the free zone
· Permission to have a virtual office
· No requirement of investors to be
physically present during company formation
· No NOC required from the current
visa sponsor
Obtain your professional license and start your LLC company
with Bizgate
If you want to start your free zone company with an LLC structure, now is the time to take your first step. Bizgate will help you get started and ensure that the entire process of setting up your business runs smoothly.
Our goal is to help entrepreneurs build a foundation in the UAE’s thriving economy, from start to finish.
Our expert consultants will guide you through the entire process — from registering your business and helping you understand all about free zone to getting the documentation process completed.
To get in touch with our expert business consultants, call or WhatsApp us at +971 56 220 1709.
