After a few years serving to entrepreneurs came upon within the UAE, I will say with some confidence that the nation’s free zones are one among the most important reasons such a big amount of individuals flock here to do business. A quick scan of the key trade zone (FTZ) advantages makes it utterly clear why they're therefore common, significantly among foreign entrepreneurs. Zero corporation and private tax, 100% company possession, 100% homecoming of capital and profits, no currency restrictions, and 100% import and export tax exemption are some of the many advantages to setting up in a FTZ.What is maybe less clear to the first-time enterpriser within the UAE is sort of what quantity every area differs from succeeding. True, most supply the headline grabbing advantages listed on top of, however every additionally has several distinctive benefits that can’t be found elsewhere.
To paint a clearer image of however free zones take issue from each other, nowadays we’re progressing to verify simply one: Dubai center Media city (DMC).Located at the heart of Dubai’s vibrant business district, it’s the perfect location for organizations and individuals aiming to do business in media and communications – in the region and beyond.
So let’s take a glance at some details to assist you opt whether setting up in Dubai Media City is right for you.
- Flexi-desk option: With any company formation in Dubai, visas are always going to be a consideration and while Dubai Media City certainly delivers on this front it has to be aforementioned its flexi-desk visa choices aren't the foremost generous within the region. Allowing one visa per flexi-desk package makes the area ideal for freelancers and solo entrepreneurs – permitting them the liberty to form use of DMC’s several business facilities on an ad-hoc basis. However, it’s not the best option for those looking to employ others.
- No need of office space: For those that need to figure even a lot of flexibly than a flexi-desk, DMC permits businesses to line up while not the necessity to require office space at all. As well as having the ability to use the country as your company’s registered address, you’ll additionally get access to Dubai Media City’s Business Centre that offers visa and document process, mail assortment and distribution, and access to meeting rooms among a good vary of services. There are exceptions however. Businesses that interchange specific industries like business or different regulated activities should attack physical workplace area to line up within the country.
- Flexible registration process: Company formation in Dubai center isn't to be taken gently.The Dubai center Media city method is each versatile and thorough enough to make sure everything is in correct order once your business is up and running.DMC requires a number of documents to process a license application, including passport copies, a certificate of incorporation and a detailed business plan.It is commonplace for shareholders to be asked to attend a quick meeting with country officers too. In all, the registration method typically takes around 3 months. Having same that, there's no ‘one-size-fits-all’ application method, that the actual needs and timeframe can take issue looking on the kind of license you’re applying for, the trade you trade in and the size of your business.
- The ideal home for those within the media: because the names suggests, urban center Media city is especially enticing to those in media-related industries. And with good reason. DMC is home to a media community of over 20,000 professionals and full of networking and cooperative opportunities. The free zone also offers a prestigious workplace address and site for those wish to form a splash within the global media trade.
- Simple to get your company bank account set up: Company formation in Dubai, like anyplace else within the world brings with it an extended list of ‘to-dos’.One of the foremost necessary is guaranteeing you've got somewhere for your clients to send funds. DMC makes this specific task easy: not solely will free zone workers advise on the simplest bank to fit your wants however they’ll additionally prepare for conferences along with your chosen financial institutions if required. What’s additional, Dubai Media city is rated by UAE banks as extremely trustworthy which may solely aid a sleek account gap method.
- Set up with multiple shareholders: One factor that makes Dubai Media City particularly popular with large corporations is that it allows company formation with more than one shareholder. Newly established Free Zone Limited Liability Companies (FZ-LLCs) are allowed multiple shareholders which can be either individuals or corporate entities.