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Free zone company registration

Registration in FTZ of the United Arab Emirates is most beneficial for the companies engaging in import/export that do not intend to provide services or trade within the UAE. The law of the major part of FTZs permits to register consulting and public catering companies, as well as shops, but prohibit them to carry out their activity in any other territory, except for a certain FTZ.

 

The main advantage of the state registration in any of the UAE FTZs is that the foreign investors may hold 100% share in the capital, absence of customs duties and the simplified registration system. Moreover, there is the number of FTZs allowing registering a company with the virtual office, which reduces costs at the stage of establishment. The members and employees of any companies operating in FTZs may obtain a UAE resident visa for a period of 3 year.

 

One of the disadvantageous of registration in FTZs is the common requirement to pay the whole authorized capital during the period of registration. The frozen amount is available upon obtaining a license. The companies registered in FTZs which are prohibited to carry out their activity in the UAE may find the way through involving agents, selling goods and services only in a certain FTZ or registering subdivisions in the UAE. The burden of customs clearance in importing goods or providing services in the UAE is laid on the buyer that also pays all customs duties.

 

The agent is the company wholly owned by the local citizens having the license to sell goods competing with yours and registered with the Register of Agents. The agent shall be involved in making any deals and paid a fee for each deal at a certain rate.

 

The process of registration in FTZ very similar to that in the UAE (link) is as follows: reservation of the firm name, filling the registration form, submission of documents and, if required, business plan to the respective authority, obtaining the preliminary authorization, submission of the contract of lease for office premises, evidencing the amount of the authorized capital, if required, and payment of charge for registration.

 

For more information about registration in each FTZ visit Free Trade Zone section in our web-site. Al Mubadarah Business Consulting and Development JLT provides the whole range of services related to registration and support of companies in FTZs, as well as resolution of any issues arising in the course of setting up your business in the UAE.

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