Procedure to set up a Free Zone Company (FZCO)
It’s easy to start a business with the DWTC Authority. An application and the first set of documents are submitted to start the five-step process.
1. Submit the application
2. The regulations of each individual free zone apply to businesses that have been formed there. You must apply with the required paperwork in order to receive the required approvals. Depending on the nature of the commercial activity, the type of firm, and the regulations of the free zone authorities, a different set of documents may be required.
3. Submit the final documents.
4. Obtain LEASE and LICENSE.
5. Commence operation.
How to register in FZCO, Dubai?
The DWTC free zone’s FZCO registration enables several Shareholders to establish a firm. Shareholders might range from two to ten people (people), companies (or companies), or a combination of both.
Documents Required
- DWTC Application Form
- FZCO Application Form
- An overview of the FZCO’s business activities planned as well as its industry sector Though not required, detailed business ideas are allowed.
- Passport Copies of Shareholder(s), Director(s), and General Manager.
- For UAE Residents: Copy of Emirates ID and residency visa of Shareholder(s), Director(s)
and General Manager. - No Objection Letter from a local sponsor for General Manager
After approval Submit the following Documents
- To be witnessed and signed in person at the DWTC Authority offices.
- Bank Certificate for Deposit of Share Capital in the Company’s UAE bank account.
- Memorandum and Articles of Association of FZCO.
Documents Required for non-individual shareholder
- Board or Shareholder Resolution to establish the FZCO under the DWTC Authority; appointment
of a General Manager specifying his/her level of authority; specify capital and distribution of
shares amongst shareholders; specify activities of the company. - Certified True Copy Certificate of Incorporation of Non-individual Shareholder OR Certificate
of Registration. - Memorandum and Articles of Association of Non-individual Shareholders.
What is the Capital requirement to start a company/business at FZCO?
- You can establish an FZ Co. in the Dubai Airport Free Zone with a minimum share capital of AED 1000. Each share should have a value of AED 1000.
- The required share capital to establish a free zone company in DMCC is AED 50,000 for the company and AED 10,000 for each shareholder. A firm must have a minimum of AED 1 million in share capital in order to be granted a general trading license.