A Step-by-Step Guide on Meydan Free Zone Company Formation
Meydan Free Zone (MFZ) is a vibrant and prime location with a centralized economic community. Meydan Free Zone Company formation offers efficient and seamless business startups in one of Dubai’s most prestigious addresses, based in Nad Al Sheba, near Mohammed Bin Rashid Al Maktoum City. The free zone is close to vital commercial and financial hubs and easy access to Dubai International Airport and major intersections. Meydan Free Zone offers international trading status, competitive packages and rates, and increased growth opportunities for all businesses to relocate to Dubai’s commercially dynamic city. At Bytes, we can guide you with the company setup procedures in Meydan Free Zone.
How to Start a Business in Meydan Free Zone?
Meydan Free Zone has become one of the most sought-after economic centers for company formation in Dubai and the UAE with its state-of-the-art infrastructure, strategic position, solid economic outlook, and outstanding connectivity. Enterprises wishing to establish a business presence in one of Dubai’s commercially vibrant free zones can benefit from international trading status, development, and expansion opportunities.
Steps for Starting a Business in the Meydan Free Zone
The steps for forming a Company in Meydan Free Zone are simple, open, and fast. If you are planning for a Meydan Free Zone company formation, just check out the steps or procedures mentioned below.
- Determine the business activity you are going to do.
- Fill out the application form and attach the required documents.
- Register the trade name with the Meydan Free Zone Authority and reserve it.
- The shareholders should sign the establishment forms before the Meydan Free Zone Authority.
- You will receive the business license within days.
Advantages of Business Setup in Meydan Free Zone
Let us now focus on the advantages of company formation in the Meydan free zone.
The strategic location of the Meydan Free Zone is one of its highlighted benefits. The free zone is located in the heart of the Middle East and is well-positioned to trade with Europe, Asia, and Africa. Meydan Free Zone is giving more importance to Entrepreneurs. Here are some of the benefits of forming a company in the Meydan free zone:
- 100% foreign ownership
- Easy business setup procedures
- Cost-effective company formation
- Choice of 1,500 business activities
- Dedicated customer service desk
- Infrastructure for modern communications
- No currency limits
- Secure environment
You can also be a part of a thriving community that provides a fantastic opportunity to network and cooperate.
Furthermore, Meydan Free Zone provides many world-class facilities to promote productive activities and foster business growth and a healthy lifestyle.
Different Types of Licenses in Meydan Free Zone
Consultancy License: A consulting license allows you to conduct activities such as management, business, human resource consulting, and other professional services.
Commercial License: Import/export, trading, and distribution of various goods are allowed under a commercial license. Please remember that Meydan Free zone does not currently provide warehouse space.
Media License: A media license includes all media, advertising, and communication services activities.
What are the Documents Required for Company Formation in Meydan Free Zone?
Meydan Free Zone is an excellent choice for freelancers or small businesses. The business formation in Meydan Free Zone (MFZ) is subject to specific documents, which vary depending on the license type. Here’s a quick rundown of the documents required.
Individual Shareholders:
- The authorized signatory must sign the application paperwork.
- Business plan for a minimum of 3 years.
- CV, passport, and visa copies of shareholders, directors, or managers.
- 6-month bank statement or original bank reference letter (stamped).
Corporate Shareholder:
- Signed Application forms
- Audited Financial Report
- Company brochure/profile
- Business Plan for a minimum of 3 years
- Letter from the shareholding firm requesting the hiring of a manager.
- Attachment of Specimen Signature, Passport Copy, and Power of Attorney for Manager, Director, and Secretary
For Establishing A Branch Company:
- Signed Application forms
- Attested copies of Registration Certificate (or) Certificate of Incorporation, Memorandum, and Articles of Association of the Mother Company, Attachment of Specimen Signature, Passport copy, and Power of Attorney for the Manager and Directors.
- 3-year business Plan.
- Company Brochure
Company Setup Cost in Meydan Free Zone
The cost of forming a company in the Meydan free zone depends upon the type of license and no of visas required. The company formation cost includes the first year’s license fee, company registration fees, the certificate of incorporation, the business name reservation, and the memorandum and articles of association.
In addition, for each visa, a shared desk has to be rented from the free zone. And there will be an annual fee for leasing a desk. The company must apply with the immigration department and will get charged for issuing an establishment card. To know the actual cost of starting your company in the Meydan Free Zone, please contact us and take a free consultation with our consultant.
Meydan is one of the most affordable business centers, with simplified business creation to encourage low-cost starts and business growth. To start your business in Meydan free zone, we can help you by processing your business license, visas, and other documents. Our business setup consultants are highly experienced and updated in company formation processes so we can assure a quality delivery from our side. Contact us for more information.
