MEYDAN FREE ZONE COMPANY FORMATION
MEYDAN FREE ZONE COMPANY FORMATION
Meydan free zone is ideally located in the heart of Dubai, which is close to Dubai downtown. It is one of the free zones that offer cost-effective business setup solution in Dubai. Meydan free zone encourages a lot of investors from all over the world for business setup in Meydan Free Zone, It offers full free zone incentives such as 100% ownership, no taxation, no currency restrictions, possibility of hiring foreign labor, high-speed internet connectivity and no duty tax imposed on import and export. The Meydan Free Zone offers only flexi desk option, which is very convenient for those who do not require a permanent physical office for their business.
Meydan Stadium, in which Meydan Free Zone is based, is a strategic creativity of the Dubai government, which is aimed at connecting the world with the Emirate of Dubai by way of hosting international horse racing events. Moreover, the Meydan project consist of not only Meydan Stadium or Meydan Free Zone, but also includes wide range of commercial developments, sports, hotels, entertainment and fun facilities, a series of state-of-the-art business parks, hospitals, schools, residential villa communities, business towers with luxury waterfront developments and shopping destinations.
Advantages of company formation in Meydan free zone
Dubai is facilitated by the state government by easy registration of your business. Further, the new investors are also offered several benefits in this particular free zone.
* Easy to setup business in Meydan free zone
* Investors are given the permission to operate their business through a Flexi desk.
* Premium location for your business setup.
* Guaranteed 100% repatriation of invested capital and profits gained.
* Guaranteed 100% ownership of the business both for individuals and corporate entities.
* Extremely secure business environment.
* Premier location for new business locating to Dubai
* Seamless and efficient licensing and registration procedure.
* Strategic location near Mohammed Bin Rashid Al Makhtoum City, close proximity to the Dubai Logistics Corridor.
* Secure regulated environment.
* Very competent licensing and registration procedure.
License Types offered by Meydan freezone company
Meydan Freezone offers different types of activities that are grouped into commercial, consultancy or media license.
* Consulting license allow to carry on consulting activities such as Management, Business, Human resources consultancy and other professional services.
* Commercial license allows import/export, trading and distribution of different types of goods. Please note that as of now Meydan Freezone does not offer warehouse space.
* Media license includes all kinds of media, advertising and communication services.
Meydan Free Zone is an ideal solution for freelancers or small start-ups as it offers very competitive licensing options. It can also be an ideal solution for those who would like to establish a business in the vicinity of Dubai downtown.
What we offer for Meydan Free Zone company formation
* Issuing of the required license
* Permitting of legal entities
* Shareholders structure and procedure
* Guidance in the selection of your company name as there are several restrictions in Meydan free zone Dubai.
* Shares structure
* Auditing process
* Attainment of facilities
* Capital investment
* Organizational structure
* Visa matters
* State government laws and regulation in the Meydan freezone
* Driving license issuance and other such services.
All these services can be attained at a market competitive price. All you need to do is to contact us and give your input. The rest would be sorted out by our team of professional business advisors who have years of experience in dealing with such business services.
Characteristics of Meydan Free Zone Company
| Characteristics | Description |
|---|---|
| Type of licenses issued | Consultancy License, Media License, commercial license |
| Legal entities permitted | sole establishment, limited liability company, and branch of a foreign Company are allowed for Meydan freezone company |
| Directors type | Only individual director are permitted in meydan free zone company. No corporate directors allowed. |
| Shares | No bearer shares will be allowed. All shares must be fully paid when allocated. No different classes of shares allowed in Meydan free zone company. |
| Shareholders | One Shareholder minimum for a Meydan company, maximum of 7. A minimum of one director is required. You can be a partner/shareholder in multiple companies. |
| Audit | The Meydan free zone company shall appoint an auditor and file annual accounts as may be requested the authorities. |
| Share capital | The minimum share capital for a new Company and Subsidiary is AED 100,000 per company. Branches are exempt from the requirement of additional share capital. |
| Manager | Every Meydan free zone company shall have a manager who must also be under the company’s visa. It should be a natural person and his name shall be on license. |
| Presence | The shareholder has to be physically present either himself or through an attorney at the Free Zone. |
| Restrictions on name | Meydan free zone company name must end with the word “LLC-FZ” as the case may be. Location names and religious words are prohibited. |
| Visa eligibility | Meydan free zone company is eligible for 2 visas only. No Investor Visa Category Available |
| Governing law | Companies are subjected to the UAE law in general and for some specific functions law of the Emirates of Dubai. |
| Facilities offered | Meydan freezone company only operate with Flexi-desk |
| Other services | Driving License and other functions need to be applied from Dubai Government Departments. |
Documents required for Meydan free zone company setup
Individual Shareholder
* Application forms duly signed by the authorized signatory.
* 3 Year Business Plan
* Passport and visa copy of shareholders/directors/manager
* CV of shareholder (s) / directors / manager
* Original Bank reference letter or 6 month bank statement (stamped)
Corporate Shareholder
* Applications forms duly signed by the authorized signatory.
* Audited Financial Report
* Company brochure / profile
* 3 Year Business Plan
* Letter from the shareholding company for the appointment of a Manager.
* Board Resolution calling for the establishment of a Meydan Free Zone company, attachment of Specimen Signature, Passport copy & Power of Attorney for Manager, Director & Secretary.
* Certificate of Registration (or) Certificate of Incorporation (or) Certificate of Good Standing of the Mother Company, Memorandum & Articles of Association of the Parent Company. (Attested)
Documents Required For Establishing A Branch Company
* Application forms duly signed by the authorized signatory.
* Board Resolution calling for the establishment a branch in Meydan Free Zone and guarantee full financial commitment.
* Certificate of Registration (or) Certificate of Incorporation (or) Certificate of Good Standing, Memorandum & Articles of Association of the Mother Company, Attachment of Specimen Signature, Passport copy & Power of Attorney for Manager and Directors. (Attested)
* 3 Year Business Plan
* Letter from the parent company for the appointment of Manager.
* Company brochure / profile
Cost of Meydan free zone company formation
The Meydan free zone company formation cost is AED 21,020. This includes first year’s license fee, the company registration charges, certificate of incorporation, Business Name reservation, memorandum and articles of association (also if the company only has one shareholder).
In addition, a desk in the free zone needs to be rented for each visa required (a minimum of 1 desk needs to be leased). The annual fee for leasing a desk is AED 6,000. The desk is shared and can be used 4 hours a week. The company needs to open a file with the immigration department. Fee is 520 upon which an establishment card is issued.
The total 1st year’s fee is AED 27,540.
The annual fee for renewal of the trade license is AED 15,000. Together with the admin desk lease, and the annual renewal of the establishment card, the total annual charges are AED 21,500.
Meydan Free Zone currently not offering physical office. The Free Zone only promotes Flexi Desk facility in a standard cost as abow. Visa eligibility can be adjusted depending on the business plan of the company and on the approval of the authority.