Meydan free zone company setup cost, requirements, and timeline

Small startups and entrepreneurs can turn their business idea into reality at Meydan Free zone, situated at the heart of Dubai, this free zone unlocks a contemporary and competitive economic zone. If you plan to work on some business idea without spending too much money on licensing, you can think about setting up a Meydan free zone company.

Prospr’s consultants will guide you every step of the way from finding the best business name to license acquisition and office setup. But before we do that it’s important for you to understand

Meydan free zone?

Meydan Free Zone is a business park located in Dubai, United Arab Emirates. It is a hub for international trade and investment, offering a range of benefits to companies, including tax-free operations, 100% foreign ownership, and a strategic location near Dubai International Airport. Meydan Free Zone is also home to a variety of facilities, including offices, warehouses, and retail outlets, making it an ideal location for businesses looking to establish a presence in the Middle East.

Benefits of company formation in Meydan Free zone

Here are some benefits you can achieve by opening a company in Meydan FZ.

Capital requirements: You don’t need to provide minimum capital for company setup. Besides, you can enjoy 100% repatriation of capital and profits.

100% Ownership: As far as ownership and control is concerned, foreigners will become 100 percent owner of this company. There is no need to hire a local sponsor and give your company shares to Emirati residents.

Quick bank account setup: As a foreigner, you find it tricky to continue doing financial transactions in the UAE. but once you form a company in Meydan, you can make the most of highly trusted and reliable corporate bank accounts. The best thing about setting up a company in this freezone is that you can do business not only in this zone but also outside the UAE. International transactions will be facilitated by your bank.

Physical office and presence: There is no need to have a physical office for company formation in the UAE. you can issue 10 visas on your Meydan freezone license without any kind of office. Besides, your shareholders don’t need to be physically present in the UAE.

Tax advantage: The biggest plus of setting up a company in Dubai Meydan FZ is to enjoy

0% corporate or personal income tax.
0% import or re-export duties

8 Steps to get a Meydan Free Zone company license

Here are some steps you need to take for company formation in Meydan FZ.

Step 1-Decide about your economic activities from Meydan freezone business activities list.

Step 2-Apply for Meydan trade license b providing following details about your business such as:

Proof of address
Shareholders and owner details copies of passport
Business plan

Step 4-You will pay the fee and submit your application.

Step 5- Once you get your MOFA recognized license, next thing you need do to apply for either investor visa or residency visa

Step 6-Once e-visa is issued, you need to undergo a fitness test, chest x-ray and a blood test.

Step 7-After visa approval, you will get Emirates ID.

Step 8- Open your bank account now.

Once you have Emirates ID, License and visa, you are free to sponsor your own family and dependents.

Must read: What is the cheapest trade license in UAE

Legal structure of Meydan Free Zone Company

Here are two different kinds of structure you can setup in Meydan

Limited Liability Company (FZ LLC)

You can start an LLC alone or with multiple shareholders. A shareholder could be another company or individual. Since it’s a limited liability company thereby its liability is limited to the amount invested in the company. You can start a service-based or trade LLC.

Branch/Representative Office

If you have a Meydan FZ license, you can form a branch of this company outside the Free zone area. But this branch will only do service-related business. If you set up international branches then they can’t conduct trading activities unless they are setup as limited liability companies.

Cost of business setup in Meydan free zone

If you want to start a small business in the Meydan free zone, you will need to pay AED 12,500 to get a Meydan trade license that will include three business activities. In case you want to get a Meydan visa plus license then the cost will be AED 14350. When you include six visa then the total cost will be around AED 24000.

Check : Ajman License Cost

Document requires to get emirates ID

If you want to get your emirates Id, you will provide the following documents:

Original passport of the visa holder.
Nine (9) passport sized photos of shareholder(s) with white background
Copy of e-visa issued by the free zone.
Copy of change status confirmation (if applicable)
Copy of stamped medical test result.
Copy of stamped Emirates ID application.
Copy of business license of the company.
Copy of immigration card.

Document required from Individual Shareholder(s) for company formation in Meydan Freezone

Passport copy
Passport size photo (digital)
Residence visa copy (if applicable)
Emirates ID copy (if applicable)

Document required from Corporate Shareholder(s) for company setup in Meydan Fz

Notarized Certificate of Incorporation
Notarized Certificate of Incumbency or equivalent (issued within the last 3 months)
Notarized Memorandum of Association
Notarized Board Resolution

FAQs

How long does it take to setup company in Meydan free zone Dubai

You can set up your company in this free zone as quickly as within 7 to 10 days. If you want to speed up the process, it’s always a good idea to hire business consultants and let them handle your documents and paper.

Do I need to rent an office for company formation in Meydan Freezone?

No, there is no need for an Ejari certificate to set up a new company in this area. So, you can reduce your overhead cost.

How many visas can you get with a Meydan license without an office?

If you don’t have an office, then you can issue up to 10 visas under a single license.

Do I need a local sponsor For business setup in Meydan FZ?

No, foreign nationals enjoy 100 percent ownership and don’t need to hire a local sponsor. If you are looking for the cheapest free zone in Dubai, certainly Meydan is the one you must consider.

Let Prospr setup your Meydan FZ company for you

Foreign nationals find it pretty challenging to navigate the complex regulations and laws related to business setup in Dubai. Prospr wants to take this hassle away from your life, so you can focus on your core business. Let our business consultants take care of every legal and essential matter of your company setup in Dubai Meydan free zone and start your business in Dubai in less than one month. Send your inquiries at hello@prosprplus.ae

Category: Company Formation

Samad Ahmed

Samad is a tech enthusiast dedicated to delivering socially responsible, ethical, and transparent products in the MENA region. With over a decade of business experience, he continues to support the entrepreneurial community as the owner of Prospr, a company specializing in business setup services across the UAE, particularly in Dubai.