Amak Group Business Services https://amak-group.net Wed, 24 Nov 2021 08:05:58 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.1 https://amak-group.net/wp-content/uploads/2021/08/cropped-AMAK-group-logo-3-32x32.png Amak Group Business Services https://amak-group.net 32 32 Starting a business in a free zone https://amak-group.net/2019/04/04/get-matched-with-the-perfect-free-zone/ https://amak-group.net/2019/04/04/get-matched-with-the-perfect-free-zone/#respond Thu, 04 Apr 2019 10:54:49 +0000 http://avantage.omnicom-dev.com/main-demo/?p=1

Starting a business in a free zone

This page provides information about the key steps to set up a business in a free zone from determining the type of legal entity and choosing a trade name.

Authorities regulating free zone activities

Refer to the websites of free zones and the authorities in:

Abu Dhabi

Dubai

Under Dubai Multi Commodities Centre Authority:
Others:

Sharjah

 

Ras Al Khaimah

 

Ajman

 

Umm Al Quwain

 

Fujairah

 

Special cases

Apart from the respective free zone authorities, certain industries/sectors of businesses are additionally governed by other government entities. Some of them are mentioned below.

Media

The following entities govern media organisations in the UAE:

 

Food and beverage

The following entities govern food and beverage businesses in the UAE:

Key steps to start a business

Setting up a business in a free zone is relatively easier. Free zone authorities require minimum paperwork and duration. Here are the key steps to set up a business in a free zone.

  • Determine the type of legal entity
  • Choose a trade name
  • Apply for a business licence
  • Choose an office space
  • Get pre-approvals, register your business and get your licence

Determine the type of legal entity

Determine the type of legal entity your business would take up. In a free zone, you can set up one of the two types of companies:

  • Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co.)
  • Free Zone Establishment (FZE)

The differences lie in the number of shareholders and whether the shareholder is a natural person or a legal person. All free zones might not register both types of companies. You need to check with individual free zone authorities about the type of company they can register. Refer to the list of free zones and their authorities.

 

Learn about new business setup packages in Dubai Multi Commodities Centre (DMCC).

Branches

Existing local and foreign companies may set up a branch of their company in free zones.

Capital requirement

There is no minimum capital requirement at twofour54 Abu Dhabi.

In KIZAD, you can form an LLC for which the minimum paid-up capital should be AED 150,000.

In Dubai Airport Free Zone, you can form an FZ Co. with a minimum share capital of AED 1000. Each share should be in the denomination of AED 1000.

In DMCC, the minimum share capital for forming a free zone company is AED 50,000 per company and AED 10,000 per shareholder. For a company to be issued a General Trading Licence, it should have a minimum of AED 1 million share capital.

In Hamriya Free Zone, you can form an FZE with a share capital of AED 150,000.

Choose a trade name

While you are deciding upon the type of legal entity your business should take, you should choose a trade name.

In most cases, you should check either with the respective free zone authority or the respective with the Department of Economic Development about the permitted trade names and whether the intended name has already been registered.

As per the website of twofour54, you cannot use ‘Abu Dhabi’ and/or ‘United Arab Emirates’ in the name of the FZ-LLC or the branch.

Refer to DMCC’s list of restricted trade names (PDF, 207 KB).

In general, for DED to approve the proposed trade name, the key requirements are that the trade name:

  • must not violate the public morals or the public order of the country
  • must be followed by the legal form of the company, for example (LLC, FZE, DMCC etc.)
  • has not been previously registered
  • is compatible with the required type of activity and legal status
  • should not contain names of any religion, or governing authority, nor names or logos of any external bodies.

Related links:

Apply for a business licence

The type of business licence you will apply for depends on the primary activity of your business.

Types of business activities you can conduct

In twofour54, you can carry out the following businesses:

  • Content production
  • Advertising
  • Animation
  • Corporate Film production
  • Corporate Print Material
  • Digital content production (e.g. CGI, 3D etc)
  • Educational content material
  • Film production
  • Gaming development
  • Graphic design
  • Illustration
  • Mobile media (e.g. content for interactive media services on mobile phones)
  • Music production and recording
  • Music videos
  • Online electronic content production (e.g. websites, e-books, travel guides etc.)
  • Performing arts and theatre
  • Photography/videography
  • Print content production (e.g. magazines, journals, periodicals, newsletters, guides, and handbooks etc.)
  • Radio content production
  • Script writing
  • Software development (e.g. applications)
  • Song writing and composing
  • TV production
  • Web design and development (e.g. portal, search engine, community site, web production, online library)

Other business activities

  • Branding Agency
  • Events/Festivals
  • Exhibitions/Conferences
  • Information Services (e.g. media related market research)
  • Marketing Communications
  • Media content management (e.g. digital archiving)
  • Post Production (e.g. Film, TV, editing services)
  • Professional Association (e.g. non-profit)
  • Public Relations
  • Rights Management
  • Training (media related)

Publishing and broadcasting

  • publish a book
  • publish a magazine
  • publish a newspaper
  • broadcast a satellite/terrestrial television channel
  • broadcast a satellite/terrestrial radio channel

In this case, you would need to apply for a dissemination licence.

In DMCC, you can choose from over 600 business activities ranging from over 20 sectors such as energy, commodities, gold and diamonds, technology, constructions, FMCG, healthcare, aviation, shipping, education, media, professional services, financial services and personal and community services. Refer to the list of businesses you can conduct in DMCC.

In DIFC, you can conduct financial and non-financial businesses. Financial businesses include banks, insurance, wealth management and capital markets. Non-financial businesses include retail shops, restaurants, five-star hotels, art galleries and academic institutions. Read more on the page about areas of business in DIFC.

Accordingly, some types of business licences are:

  • Commercial/trade
  • Consultancy/services
  • Industrial
  • Educational
  • Media
  • eCommerce
  • Offshore
  • Freelancer
  • Warehousing
  • Manufacturing.

Dubai Multi Commodities Centre (DMCC) allows establishing ‘single family offices’. These have the standard FZ LLC structure. They can provide services to a family member, family business, family entity (corporate structure) or family trust. It can be owned by one or more individuals or a corporate entity where all shareholders are of the same family.

Choose an office space

You can either buy or lease office spaces in free zones. Office requirements depend on the number of employees and type of business activity of your company.

In DMCC, you can choose from a flexi desk of 20-30 sq. m., a flexi office of 200-265 sq. m., or offices running through multiple floors totalling up to 2,000 sq. m. each.

In Dubai Airport Free Zone, you can choose between ‘Office Packages’, ‘Smart Desk Office Packages’ and ‘Executive Office Packages’.

Hamriyah Free Zone Authority provides over 100 executive offices suits ranging in size from 15 m2 to 42 m2 with conferencing and internet facilities.

Get pre-approvals, register your business and get your licence

Companies established in free zones are governed by the rules of the respective free zones. To get the necessary approvals, you need to apply with the documents. The list of documents varies on the type of business activity, the type of company and the requirements of the free zone authority. Below is a general guideline of steps and documents needed for approvals.

A. Initial approval

First, you need the initial approval. You are required to provide:

  • Completed application form
  • Business plan
  • Copy of existing trade licence/registration certificate (if you are an existing company, applicable for local company only)
  • Coloured passport copies of the company’s shareholder/s and the appointed Manager/Director for the new company
  • Specimen signature of the company’s shareholder/s and the appointed Manager/Director for the new company
  • 2 years’ audited financial reports for corporate entity or certificate of reference from a personal bank of the individual shareholder
  • NOC from current sponsor (for individuals)
  • Unit title deed
  • Letter of Intent
  • Registry Identification Code Form (RIC) for Manager/Director (Original and notarised)

Freelancers need to submit fewer documents. In most cases, they need to submit:

  • Application for registration
  • CV
  • Bank reference letter
  • Registry Identification Code Form (RIC) (Original and notarised)

B. Registration

After getting initial approval, you need to pay registration fees and licence fees. The fees depend on the type of licence required. Then, you need to submit:

  • Completed application for registration
  • Board Resolution appointing Manager/Director (Notarised and attested)
  • Power of Attorney given to Manager/Director (Notarised and attested)
  • Memorandum and Articles of Association (Notarised and attested)
  • Specimen signature of Manager/Director (Notarised and attested)
  • Passport-size photo of Manager/Director against white background
  • Share capital information

C. Licensing and visa process

  • Lease agreements will be prepared by the authority
  • Then trade licence will be issued
  • Visa processing will start

Note that certain activities may be subject to approval from external authorities. Refer to special cases.

]]> https://amak-group.net/2019/04/04/get-matched-with-the-perfect-free-zone/feed/ 0 Dubai Airport Free Zone https://amak-group.net/2019/03/23/dubai-airport-free-zone/ https://amak-group.net/2019/03/23/dubai-airport-free-zone/#respond Sat, 23 Mar 2019 10:27:39 +0000 http://avantage.omnicom-dev.com/marketing/?p=274 A dynamic business hub located at the very heart of global trade

Benefitting from direct access to the world’s busiest international airport, DAFZA offers the ideal gateway to the Middle East and also unrivalled connectivity to Europe, the Indian Subcontinent and the Far East.

 

DAFZA is now home to more than 1,600 registered companies and 15,000 professionals, who benefit from a business-focused regulatory and tax environment that offers total ownership, full repatriation of earnings and a range of world-class facilities.

 

Join us and make DAFZA the launch-pad for your expansion into the world’s most enterprising region.

]]> https://amak-group.net/2019/03/23/dubai-airport-free-zone/feed/ 0 Dubai Design District https://amak-group.net/2019/03/19/dubai-design-district/ https://amak-group.net/2019/03/19/dubai-design-district/#respond Tue, 19 Mar 2019 08:45:47 +0000 http://newstar.omnicom-dev.com/magazine/?p=1 The Middle East’s premier creative platform dedicated to design, fashion, architecture, art and retail

Dubai Design District (d3) is a community dedicated to the art and design industries. In line with Dubai’s position as a leading business destination, d3 serves as a vibrant innovation hub that enables both international brands and the region’s growing number of designers, creative professionals and artists to unite, create and inspire.

With state-of-the-art infrastructure designed to meet the needs of the industry and a business-friendly framework, the community offers creative talent the tools to drive innovation that permeates through various areas of Dubai’s economy, further reinforcing Dubai’s status as a UNESCO Creative City of Design.

]]> https://amak-group.net/2019/03/19/dubai-design-district/feed/ 0 Dubai Healthcare City https://amak-group.net/2019/03/04/dubai-healthcare-city/ https://amak-group.net/2019/03/04/dubai-healthcare-city/#respond Mon, 04 Mar 2019 08:36:21 +0000 http://newstar.omnicom-dev.com/magazine/?p=85 Your Health & Wellness Destination

Since its launch in 2002 by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the Dubai Healthcare City (DHCC) free zone has worked towards its vision to become an internationally recognized location of choice for quality healthcare and an integrated center of excellence for clinical and wellness services, medical education and research.

 

Dubai Healthcare City brings together core healthcare services, attracting the best in class global and regional names, as well as a network of businesses from hospitality to consultancies and retail outlets. DHCC has its independent regulatory body and facilitates end-to-end business set-up. The free zone consists of Phase 1, dedicated to healthcare and medical education, occupying 4 million square feet and Phase 2 occupies 19 million square feet with focus on healthcare and wellness with a strong residential component.

 

Accredited hospitals and clinics in the City strive to help people heal better and feel better. From global healthcare organizations to regional hospital groups, and single- and multi-specialty clinics, you can access patient-centric and evidence-based care whether you are a resident or a visitor. As we expand, residents and visitors will soon be able to experience a community that encourages healthy living and welcomes innovative concepts in healthcare and wellness from around the world.

]]> https://amak-group.net/2019/03/04/dubai-healthcare-city/feed/ 0 Dubai International Academic City https://amak-group.net/2019/03/01/dubai-international-academic-city/ https://amak-group.net/2019/03/01/dubai-international-academic-city/#respond Fri, 01 Mar 2019 14:34:09 +0000 http://newstar.omnicom-dev.com/magazine/?p=1054

The world’s largest ecosystem dedicated to higher education

Established in 2007, Dubai International Academic City aims to develop the region’s talent pool and help establish the UAE as a knowledge-based economy through the provision of multi-tiered academic institutions that are internationally accredited.

Located on a fully-appointed 18 million sq ft campus with state-of-the-art facilities, the community is home to 27 universities from nine countries including Amity University Dubai Campus, BITS Pilani Dubai Campus and The University of Manchester Middle East Centre, to name a few.

 

Dubai Free zones
]]> https://amak-group.net/2019/03/01/dubai-international-academic-city/feed/ 0 Dubai International Financial Centre https://amak-group.net/2019/02/18/dubai-international-financial-centre/ https://amak-group.net/2019/02/18/dubai-international-financial-centre/#respond Mon, 18 Feb 2019 18:02:01 +0000 http://newstar.omnicom-dev.com/magazine/?p=93 Dubai International Financial Centre – The leading global financial centre in the Middle East, Africa and South Asia

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading international financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of USD 7.7 trillion. DIFC is home to 17 of the world’s top 20 banks, 8 of the 10 leading global law firms, 3 of the top 5 insurance companies and 6 of the top 10 asset managers and more than 50% of the GCC Fintechs.

With a 16-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.

DIFC is the only free zone in Dubai with an internationally recognised, independent financial regulator and a proven judicial system with an English common law framework (as opposed to civil law and commercial in other free zones). DIFC is home to the region’s largest and comprehensive financial ecosystem of more than 25,000 professionals working across over 2,700 active registered companies – making up the largest and most diverse pool of industry talent in the region.

The Centre’s vision is to drive the future of finance. Today, it offers the most active regulatory sandbox and one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions (commercial and regulatory licensing), regulations modeled on international accepted standards, access to early and growth stage start-ups, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups. Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.

]]> https://amak-group.net/2019/02/18/dubai-international-financial-centre/feed/ 0 Dubai International Humanitarian City https://amak-group.net/2019/01/09/dubai-international-humanitarian-city/ https://amak-group.net/2019/01/09/dubai-international-humanitarian-city/#respond Wed, 09 Jan 2019 11:15:41 +0000 http://newstar.omnicom-dev.com/magazine/?p=97 The largest Humanitarian Hub in the world

The Dubai International Humanitarian City was founded in 2003 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the United Arab Emirates and Ruler of Dubai, through the merger of Dubai Aid City and Dubai Humanitarian City. The International Humanitarian City is the only non-profit, independent, humanitarian free-zone Authority hosting a community of around 80 members, comprised of UN organisations, non-profits and non-governmental organisations, in addition to commercial companies.

The International Humanitarian community in Dubai consists of about 500 people representing more than 68 nationalities. In 2011, the International Humanitarian City was relocated into its current strategic location near Al Maktoum Airport and close to Jebel Ali Port, by tripling its size from the previous 30,000 square meters to 90,000 square meters and giving members the ability to move shipments from sea to air in as little as 10 minutes.

]]> https://amak-group.net/2019/01/09/dubai-international-humanitarian-city/feed/ 0 Dubai Internet City https://amak-group.net/2019/01/03/dubai-internet-city/ https://amak-group.net/2019/01/03/dubai-internet-city/#respond Thu, 03 Jan 2019 09:49:38 +0000 http://newstar.omnicom-dev.com/magazine/?p=114 The region’s largest business community for technology

Dubai Internet City is the region’s leading tech business community and a place where innovators and entrepreneurs from all over the world work, connect and share their vision for a bold new tomorrow.

The community is home to more than 1,600 tech companies including fortune 500 and SMEs who come together to drive Dubai’s ambitious digital strategy forward. Companies such as Google, MasterCard, Microsoft and IBM, as well as homegrown startup success stories such as Careem, Souq, Yahoo! Maktoob and Property Finder are set up in Dubai Internet City.

]]> https://amak-group.net/2019/01/03/dubai-internet-city/feed/ 0 Top reasons to invest in Dubai https://amak-group.net/2018/12/23/top-reasons-to-invest-in-dubai/ https://amak-group.net/2018/12/23/top-reasons-to-invest-in-dubai/#respond Sun, 23 Dec 2018 14:44:43 +0000 http://newstar.omnicom-dev.com/magazine/?p=287

Top reasons to invest in Dubai

Resilient and Dynamic Economy

A diversified economy bolstered by strong economic fundamentals

Smart City Incubating Innovation

Enables a culture of innovation and digitization becoming home to the Middle East’s First Unicorn

Empowering Institutions

Advocates future-ready regulations and leads the region in governance, government effectiveness, and Efficiency

Connecting Worlds

Strategic Location “Where East Meets the West”, connects the world as a gateway to two-thirds of the world’s most attractive growth markets

Business Made Easy

Starting a Business In 5 Minutes and 1 Step, ranks 1st regionally and 16th globally on the ‘Ease of Doing Business’ report

Cutting-Edge Infrastructure

Boasts state-of-the-art roads, ports, and airports to serve one of the world’s busiest gateways into the region for business, commerce, and tourism.

Magnet for Talent

Boasts the highest percentage of talented foreign labor force globally with an exceptional standard of living

Outstanding Trade and Logistics

Acts as a gateway to the region and a central hub for global trade flows

100% Business Ownership

Being an attractive and dynamic business launch location, Dubai now welcomes foreign investors to fully own their mainland business, in a significant amendment to a decades-old Commercial Companies Law, stipulating that an Emirati national must be the majority shareholder with 51% of the shares, while foreign investors could only own up to 49%.

The lifting of restrictions on foreign investment ownership continues a series of measures aimed at empowering not only an investor-centric, and innovation-driven economy but also one that is responsive and agile.

Click here for a list of all business activities that are applicable for 100% foreign business ownership.

Dubai is considered the largest business city in the UAE according to the World Bank’s Ease of Doing Business Report for over 15 years, with a population of 3.4 million individuals living in the city, 16.73 million visitors, an area of 4,114 km², and an unemployment rate of 0.5%.

With a futuristic outlook, Dubai has embarked on a journey to transform its business environment and become the leading location for investors globally.

Dubai’s efforts to streamline regulation, support innovation and digitization, provide world-class logistics and infrastructure, and develop human capital have paved the way for its premier position today as the preferred destination for FDI.

Resilient and Dynamic Economy

With an aim to make the city a dynamic engine of economic growth, the strategic plans laid out by the government have enabled Dubai to become a diversified, investor-centric, and innovation-driven economy.

Ranked 1st in employment growth, 2nd in youth unemployment and employment rate, and 8th in the diversification of the economy globally, Dubai has earned a reputation for its political, social, and economic stability, making it one of the world’s most attractive places to do business. A stable macro-economic environment, sustainable economic policies, and superior growth strategies have fueled Dubai’s outstanding economic performance and diversification.

2.22%

GDP growth rate (in constant prices) in 2019

Dubai Statistics Center

 

Smart City Incubating Innovation

Enables a culture of innovation and digitization becoming a home to the Middle East’s First Unicorn.

The Government of Dubai promotes digitization and innovation through policies that cater to innovators, start-ups, incubators, and SMEs. An entrepreneur-friendly culture and a host of strategic initiatives brings together stakeholders such as policymakers, enterprises, academia, business, and the financial sector need to harness the power of digital innovation.

Dubai has led the move in cultivating a culture of innovation and digitization and its continual application and adoption by commerce and industry ecosystems.

Dubai ranks 1st in the levels of technology employed, dedicated cyber-security teams, scientific and technical employment, and internet users. As a testament to this, Microsoft and Oracle have recently opened their regional cloud data centers in Dubai.

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