A Guide to Meydan Free Zone | PRO Partner Group
How to set up a business in Meydan Free Zone
The United Arab Emirates has become a coveted location for businesses looking to establish a presence in the Middle East. In addition to having access to a growing $350 billion economy, businesses that operate in the UAE can enjoy proximity to other major economies across Europe, the Middle East and Asia, and benefit from financial incentives such as zero tax on income and full repatriation of business profits.
Setting up a foreign-owned business in the UAE has never been easier. As well as mainland options, the UAE boasts more than 40 economic free zones which provide supportive business communities, modern, high-tech infrastructure and competitive set up costs.
Each free zone has unique benefits, so it is important to do your research and select the free zone that is right for your business.
About the Meydan Free Zone
The Meydan Free Zone, established in 2009, is a business free zone with an enviable location and access to world class facilities. Situated in the Meydan hotel complex, close to downtown Dubai and only 15 minutes from Dubai International Airport (DXB), it is home to a premium golf course, high-end residences and the prestigious Meydan racecourse. It also offers easy access to Mohammed Bin Rashid City (also known as MBR City), a multi-use development in Dubai that offers residential housing, hotels, world-class shopping, sports facilities, art galleries, and an amusement park.
What type of businesses can be established in Meydan Free Zone?
Meydan Free Zone permits more than 2,500 business activities that are organised into three main categories — Media, Service & Consultancy, and Commercial.
● Media - This category includes service businesses such as advertising, marketing, web design, and printing.
● Service & Consultancy - Many business activities fall under this category including professional services such as business and management consulting, real estate consultancy, human resources, technical services, accounting, and bookkeeping.
● Commercial - The commercial category includes general trading, retail services, and import and export activities. It’s important to note that Meydan Free Zone does not offer any form of warehouse space for businesses that need to process or store physical products and materials.
A great benefit about the Meydan Free Zone is that businesses are permitted to operate multiple business activities under a single licence. This helps reduce the frustration and paperwork when setting up a multi-service business.
Key Benefits of Operating a Meydan Free Zone Business
● Cost-Effective Business Structures - Meydan Free Zone is one of the most cost-effective business centres in the UAE. The free zone offers low-cost application fees that are specifically designed to attract small businesses and start-ups.
● Streamlined Application Process - The Meydan Free Zone has a simple application process with quick approvals (2 to 3 weeks).
● Office Flexibility - Flexi-desks and office space are available within Meydan Free Zone. However, unlike other free zones, businesses are not required to have physical office space within the free zone. There are options available to secure virtual offices as well.
● Scalability - Meydan Free Zone provides licensing packages that are flexible and customisable to the needs of the business. This allows the business to adjust and scale easier.
● State-of-the-Art Infrastructure - Meydan Free Zone boasts cutting-edge technology and high-speed internet connectivity to help businesses operate efficiently.
How to Set Up a Business in Meydan Free Zone
Before starting your business application, you need to confirm that your business activity is permitted within Meydan Free Zone and that you meet all requirements. Next, you’ll need to gather all the appropriate documentation that will be needed to support your application. The type of documentation that you need for your Meydan Free Zone trade licence will depend on your business structure.
● Single-Member LLC - This is the easiest business structure to register in Meydan Free Zone. The only documentation you need for an LLC with an individual shareholder will be the owner’s passport and power of attorney for the person submitting the application (if applicable).
● Multi-Member LLC - Businesses with more than one shareholder will need to provide additional documentation including a certificate of incorporation, articles of association, board approval to establish a new company, and copies of existing trade licences.
● Branch - Businesses that operate elsewhere and want to establish a branch in Dubai will need to provide similar documents to a multi-member LLC. In addition, the applicant will be required to provide a certified approval letter from the board of directors authorising the new branch and a passport for the general manager who will operate the branch.
● Step 1: Complete the Online Application - Businesses can access the application online on the Meydan Free Zone website. Applicants will provide the details of their business and attach any required documents to the application.
● Step 2: Register Trade Name - Once the application is submitted, the business will need to register its trade name with the Meydan Free Zone authority. It’s important to have at least 3 different business names in mind. This will help avoid delays if one name is unacceptable or already registered by another company.
● Step 3: Pay Fees - Meydan Free Zone has a straightforward fee package structure depending on the needs of the business. The simplest package costs 12,500 AED (or $3,400 USD). However, applicants can choose higher-level packages that include one to three visas. Meydan Free Zone also offers instalment plans and discounts for multi-year business packages to help reduce the cost. Companies can use Meydan’s online calculator to help estimate their anticipated start-up costs.
How can PRO Partner Help?
It’s important to carefully work through the process of setting up your Meydan Free Zone business. Securing the wrong type of licence or failing to submit the right documents can delay the process or result in being rejected.
PRO Partner Group can advise you on the best corporate structure for your business and can liaise directly with Meydan Free Zone on your behalf to simplify and expedite the incorporation process.
If you need assistance with setting up your company in Meydan Free Zone or any other related onshore, freezone or offshore company setup, restructuring, local partner or PRO support matter in Abu Dhabi, Dubai, the wider UAE, Oman, Qatar or Saudi Arabia, then please do get in touch with us on +971 (0)4 456 1761 for Dubai or +971 (0)2 448 5120 for Abu Dhabi, email us at email@example.com or complete the contact form below and we will be delighted to assist you.