Free zone Establishment in Dubai

Requirements For Setting Up A Free Zone Establishment In The Dubai

A FZE / FZC is a company with restricted liability. In the United Arab Emirates Free Zone, not only natural persons but also juristic persons such as companies can establish FZE/FZCs. After incorporation/registration, FZE / FZCs, such as branches of local or foreign enterprises, will need to get a Free Zone License.

An FZE will be a firm with only one stakeholder. With 2 to 5 shareholders, a FZC will be a multi-shareholder business. No share may be transferred without the free zones’ prior written approval. Each year’s financial years will run from January to December, with the exception of the first year. This will then begin on the date of incorporation.

Requirements For Setting Up A Free Zone Establishment In The Dubai

The FZE / FZC Implementing Rules and Regulations must be followed by Free Zone Establishments (FZE) / Free Zone Companies (FZC). The Memorandum and Articles of Association of FZE are equivalent to the Memorandum and Articles of Association of FZC. On the other hand Articles of Association of FZC are equivalent to the Memorandum and Articles of Association of FZC.

Every year, within three months after the end of the financial year, FZE/FZE must submit audited financial statements to the UAE Free Zone Authority. For FZE / FZCs, at least two directors and a secretary are required. A single person can hold both the Director and Secretary positions.