How to open an onshore company in a Free Economic Zone?

How to open an onshore company in a Free Economic Zone?

Do you have the goal of doing business, both in the United Arab Emirates and beyond? Then one of the best options would be to open an onshore company in Dubai on the territory of the Free Economic Zone. This option is one of the best because you, as a foreign investor, will be entitled to 100% ownership of the company, a resident visa, saving time and effort in the process of company registration.

Onshore is very popular among foreign investors who want to open a business in Dubai or in other cities of the UAE, due to the ease of registration and 100% ownership of the company. The type of company like LLC cannot provide you with such favorable terms and flexibility of doing business.

One of the main conditions for an onshore company is the presence of a higher education from a director or a campaign manager. Onshore companies are similar to LLC companies in the process of obtaining a license. You can get a standard license quickly and without any difficulties. The add-on package is required for special activities and you will need to collect all necessary permits and then obtain a special license.

Also, another difference from LLC companies should be mentioned, which is the ease of agreeing on your company name. In the case of onshore companies, this process proceeds quickly and without any particular difficulties, but in the case of LLCs, you will have to devote more time and resources, including financial ones.

Now let's move on to 10 steps that you need to go through when opening an onshore company in the UAE:

1. Agree on the name of the company and decide on the type of activity.

2. Compare the goals and objectives of the company with the conditions of the FEZ, choose one for registration.

3. Find out from the authorities of the Free Economic Zone what type of license your company needs. Pass the stage of coordinating actions to obtain it.

4. If your company needs a standard license, then immediately proceed with the preparation of all necessary documents and start registering the company.

5. Find an office that meets the requirements, conclude a lease agreement.

6. Start a mailbox.

7. Choose a bank suitable for the conditions, open an account there, then pay the share capital.

8. Complete the last stage of registration.

9. Submit documents for obtaining an enterprise card and other documents.

10. The final step will be to prepare and apply for a residence permit for yourself, family members and employees.

The prices for opening an onshore company depend on many factors, the most important is the chosen Free Economic Zone. A full registration cycle upon receipt of a standard license can cost about $ 12,000. If you need a special license, the amount will be higher.

Do you want to open an onshore company in the UAE, but do not know where to start and how to do everything correctly? Please contact our specialists for advice.