UAE has been significantly growing in the recent year in all industries ranging from oil to finance. UAE has become one of the top business centers in the world for it has many free zones especially in Dubai.
Dubai Free Zone Company Formation comes with an ecosystem that helps businesses and private agencies grow at a substantial rate. There is a huge demand among entrepreneurs to set up a company in Dubai free zone due to the many benefits it offers to various industries like finance, housing, real-estate, IT etc.
The regions provide a cost-effective and easy company formation along with an affordable license for business in Dubai free zone. Dubai free zone company formation requires you to acquire a license from the Free Zone Authority. This license can be renewed annually.
Want to know the different types of license in Dubai Free Zone?
Different business licenses are required based on the type of business.
Here are the 6 types of license in Dubai Free zone:
1. Industrial License
This license, as the name suggests, is needed by the company involved in production or manufacturing business. Companies that are legally incorporated in industrial production outside the UAE and are within the Free Trade Zone can be given an Industrial license.
Ownership can be 100% foreign. This allows you to import raw material, carry out manufacturing processes and export finished product.
2. Trade license
This license allows firms to practice activities related to import, export, distribution and storage of items and goods. This license also allows you to sell in the UAE market but not directly. You need to appoint a distributor or an agent in order to do that.
3. Service License
This license is required by any individual who wants to establish a business in the service sector. Service License gives you permission to carry out any legal or professional service mentioned in the license. You can also conduct activities like exhibitions, cleaning services or events.
4. Logistics License
Logistics license is similar to trading license but is specific for industries under logistics district. It allows you to engage in services such as warehousing, transportation, cargo and packaging.
5. E-commerce License
The e-commerce industry has been booming all around the world. Hence, free zones offer license to entities who want to set up an online business allowing you to engage in online trade or service.
6. Freelance Permit
This permit offers you permission to practice as a freelance professional. It identifies you as a sole practitioner and allows you to conduct your business under the birth name and not your brand name.
Need a reasonable cost for license and company formation in Dubai Free zone? Xpand UAE can help you with all your business set up needs and provide pro services if you want to begin something new in Dubai Free zone company formation.