MFZ company formation process
The timeframe of business setup at the Meydan Free Zone can vary from 6 to 8 work days starting from the date of submission of all the required documents. MFZ business setup can be done remotely, visitation to the free zone for the visa process is not required.
Determine the business activities of your future company and the corresponding license type. This is a key aspect of business setup, as choosing the wrong activity and license can lead to errors during company registration, creating problems with opening a bank account or even making such opening impossible. Note that MFZ allows for up to 10 activities under a single license, 3 of them for free.
Specify the legal status of your business in the Meydan Free Zone. Available company formation types at MFZ include FZ LLC (Free Zone Limited Liability Company) or a branch of an already existing company registered in another free zone, in the Dubai mainland, or abroad.
Prepare and submit the documents required by the free zone authority together with a filled-out application, and pay the fees. MFZ requires the following document set:
- Your passport with 6 months validity
- Visa copy (if applicable)
- Passport and visa copies of shareholders
- 3 company name options according to preference
- Confirmation of business activity
- Residential address
- Mobile number
Registration can be completed remotely without your physical presence and typically takes 6-8 days. Note that individual shareholders, corporate shareholders, and company branches require different sets of documents.
Receive the license and registration documents for the company, including:
- Certificate of Incorporation
- Trade license
- Articles of Association
- Memorandum of Association
- Lease agreement
Receive the Establishment Card containing information about your company and visa quotes.
Apply for an entry permit. If you’re outside of the UAE during the processing of the entry permit, you will need to come to the country when the document is issued within 60 days to complete the medical test and biometrics for your visa. If you’re in the UAE when the entry permit is issued, a status change will be done from your previous UAE tourist/residency visa to the new one.
Undergo a medical checkup and submit documents for a residence visa. Different registration packages may provide for a varying number of visas available for owners and employees of the company. Note that at MFZ, your presence is required for visa-related procedures.
Once your visa is issued, secure your Emirates ID card.
Apply to a UAE bank to open a corporate bank account. In some cases, the bank’s approval may take a month. Once you receive your account details, you are free to start running your business.
With us you can navigate this process quickly and effortlessly. You don`t even have to arrive in Dubai — the registration procedure can be completed remotely. However, you will need to visit the UAE for medical checkups, visa formalities, and account opening.
- IFZA — International Free Zone Authority
- KIZAD — Khalifa Free Zone Abu Dhabi
- UAQ — Umm Al Quwain Free Zone
- SAIF — Sharjah Airport Free Zone
- RAKEZ — Ras Al Khaimah Economic Zone
- DMCC — Dubai Multi Commodities Centre
- DAFZ — Dubai Airport Free Zone
- SHAMS — Sharjah Media City Free Zone
- DIC — Dubai Internet City
- JAFZA — Jebel Ali Free Zone
- DWTC — Dubai World Trade Center Free Zone
- Hamriyah Free Zone
- RAK DAO — RAK Digital Assets Oasis
- DAZ - Dubai Auto Zone
- DSO — Dubai Silicon Oasis Free Zone
- TECOM — Technology Electronic Commerce and Media Group
- SPC — Sharjah Publishing City Free Zone
- DTEC — Dubai Technology Entrepreneur Center Free Zone
- DMC — Dubai Media City Free Zone
- Dubai South — Dubai South Free Zone
- Expo City — Expo City Dubai Free Zone
- AMC — Ajman Media City Free Zone
- AFZA — Ajman Free Zone
- FCC — Fujairah Creative City Free Zone
- FFZA - Fujairah Free Zone Authority
- Company Formation in DUQE Free Zone
MFZ license costs
The cost of a Meydan Free Zone license depends on the number of business activities and visa quotas and starts from AED 12,520. This license package includes 3 business activities, company registration fees, and a flexi-desk.
| TYPE OF LICENSE | COST |
|---|---|
| Zero-visa license. This package suits those who either don't need UAE residency or already have one. The price includes a license with 3 business activities, setup costs, and a flexi-desk. | 12,520 AED |
| 1-visa license. This package includes a license with 3 business activities, setup costs, a flexi-desk, and 1 visa quota. | 14,370 AED |
| 3-visa license. This package is suitable for a small team, as it allows for 3 visa quotas for your partners or employees. A great fit for a startup or family business. | 18,070 AED |
Naturally, other company formation options with increased office space, more business activities and more visa quotas will come at a higher price. The license package with the visa fees includes:
- MFZ license fees
- MFZ Establishment Card
- MFZ visa fee
- Medical checkup
- Emirates ID
Elena O.
We'll find the ideal free zone for your business
Meydan Free Zone Company Formation
CEO, Emirabiz
Andrey Ovchinnikov
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Emirabiz is an authorized partner
Is MFZ suitable for your business?
Low license and business setup costs
Fully remote company formation
Option to rent an office elsewhere outside the MFZ
Yes
- If you are planning to engage in activities related to media, consulting, professional services, or retail.
- If you are looking for a low-cost business setup solution in Dubai, as MFZ is considered the most cost-effective and affordable free zone in the emirate.
- If you want your company’s office to be positioned in the heart of Dubai with prime logistic opportunities, as MFZ occupies the premises of Meydan Hotel located near Downtown Dubai, the Dubai Logistics Corridor, and Dubai International Airport.
- If your business model does not require warehouses or industrial facilities and instead can make use of a flexi-desk, co-working space, or office.
You can also consider similar-priced free zones in Dubai, like IFZA, or company formation in other emirates, such as the UAQ Free Zone.
No
MFZ licenses and business activities
Meydan Free Zone’s business activity list includes more than 2,500 activities grouped under 3 different license types. You can choose either one or multiple activities, with up to 10 business activities, 3 of which are free, under a single business license, even without a rented office. The full activity list of MFZ can be found here.
Below you can find the categories of business licenses supported by MFZ and their descriptions.
Project Management License in Dubai
Foodstuff Trading Business in Dubai
Consultancy License in Dubai
Car Wash License
Oil trading license in the UAE
IT license in the UAE
Professional License in Dubai
Guide to opening a successful bakery business in Dubai
Cafeteria License Cost in Dubai: How Much It Costs
Media License in Dubai
Commercial Trade License in Dubai
Technical Services License in Dubai
Gold Trading License in Dubai
Open a Typing Center in Dubai
Audit and Accounting License
Gents salon license in the UAE
General trading license in Dubai
Service license in the UAE
Tourism License in Dubai
You can also engage in such business activities as light manufacturing (tailoring or textile printing) or logistics provided that you have the necessary facilities outside the territory of the Meydan Free Zone.
Elena O.
We'll find activities for your business
MFZ facilities
Meydan Free Zone offers a great selection of facilities for carrying out your business whether it is a small start-up or a large company.
Below are the accommodation options available at the Meydan Free Zone.
Flexi desk
This free zone resides within the premises of Meydan Hotel and boasts a prime location at the very heart of Dubai and in close proximity to the Downtown area. So, here you can rent an office and enjoy the views of Burj Khalifa, horse racing track, and Meydan Golf Course.
For those who don’t need this central location, MFZ allows for renting an office in any business center outside the free zone.
MFZ residence visas
MFZ visa costs
| VISA FEES | MEDICAL CHECK | EMIRATES ID | |
|---|---|---|---|
| Partner/Investor | 4,000 AED | 755 AED | 390 AED |
| Employee | 3,500 AED | 755 AED | 390 AED |
Entry permits can be processed while the applicant is outside the UAE, while the rest of the visa-related procedures require the physical presence of the applicant.
If you want to bring your family to the UAE and open dependent visas also known as family visas for them, you need to satisfy these requirements:
- Rent an apartment in UAE. The tenancy contract must be in the name of the sponsor.
- Attest the marriage certificate and birth certificate of the children in the UAE Embassy in the country of origin and in the Ministry of Foreign Affairs in the UAE.
- Translate the marriage and birth certificates into Arabic.
MFZ company license renewal
The license renewal process at the Meydan Free Zone is easy and straightforward. The price is the same as the first-year license registration cost plus additional costs (if applicable).
| FEE | COST |
|---|---|
| MFZ license renewal (for zero-visa package) | 12,520 AED |
Note that no amendment charges are applied for making changes during company renewal. To renew your MFZ business license, make sure you, submit an application form with the required documents to the free zone authorities, pay the renewal fees, and wait for your license to be renewed.
MFZ company amendments
If you want to make any changes in your company during the renewal, there are no amendment charges. Meydan Free Zone additionally charges AED 2,000 for any amendments that are not done during the license renewal. Any removal or edit of business activity is treated as a license amendment.
| SERVICE | COST |
|---|---|
| MFZ company amendment | 2,000 AED |
| Business activity removal or modification | 1,000 AED |
| Adding an extra shareholder (after exceeding the default limit of 6) | 2,000 AED per shareholder |
The list of company amendments supported by MFZ includes:
- Changing the company name
- Changing managers/shareholders
- Changing the company’s business activities
- Appointing or resigning positions
- Transferring company shares
- And others
To make changes to your company, initiate the amendment by contacting the MFZ authorities or your business setup consultant, pay the amendment fee, and wait for the amendment confirmation.
MFZ company liquidation
MFZ is one of the most affordable free zones when it comes to the cost of liquidation. They understand the importance of making the liquidation process as easy as possible. To complete the procedure, you will need to conduct a liquidation audit through an authorized UAE auditor, cancel the residency visas under the company, and pay the applicable liquidation fees.
| SERVICE | COST |
|---|---|
| MFZ company liquidation | 2,000 AED |
The liquidation procedure will be the following:
1. Provide the following mandatory documents:
- board resolution signed by the shareholders and stating the reason for the company liquidation
- deregistration documentation
- visa cancellation documentation
- copies of passports and visas for all visa holders
- audit report
2. Pay cancellation fees and settle other payments
3. After this, the process of the shareholder visa cancellation starts.
4. The deregistration letter will be sent to your e-mail confirming the cancellation of your company.
The timeframe of the company liquidation process at MFZ is around 1 month.
With us, you can navigate the liquidation process for your UAE company quickly and effortlessly, ensuring a smooth closure while saving valuable time and resources.
About MFZ
Meydan Free Zone (MFZ) is an economic free zone located in the heart of new Dubai in the Meydan area. It was established in 2009 by the Dubai Government. Positioned centrally near Mohammed Bin Rashid Al Maktoum City and the Dubai Logistics Corridor, MFZ offers a strategic location for businesses.
Its proximity to vital commercial hubs, including Dubai International Airport, along with various amenities facilities, and entertainment hubs, enhances its appeal to investors seeking prime locations for company setups.
Some of the distinct advantages of this free zone include the low license and business setup costs, remote company formation, and the option to rent an office elsewhere outside the Meydan Free Zone, which is a rare option in Dubai offering great flexibility. It also allows for up to 6 residence visas without a physical office.
If you are looking for a fast, easy, remote, and very cost-effective company setup in Dubai, you can safely choose MFZ. Otherwise, we would advise considering similar free zones in Dubai in terms of setup costs and business activities, such as IFZA, or setting up in other emirates.
FAQ
No, a personal visit to the UAE is required as per the regulations of the UAE Central Bank. Local banks require this visit to verify the client's identity.
In most cases, you can obtain a debit card for your newly opened company, especially if there is only one shareholder. However, a credit card is usually issued against a fixed deposit. As for loans, banks may consider your eligibility based on your company's operations and profits. It is recommended to apply for a loan after at least one year of company operations.
Officially, the office of a free zone company should be located within the free zone where it is registered. However, if you need an office in Dubai, you have the option to rent space in a Business Center and use it on a flexible basis. It is important to note that the minimum required space (flexi desk) in the free zone cannot be canceled.
A flexi desk is a mandatory requirement for any company eligible for resident visas. It serves as the minimum physical office space that a company with individuals under its visa must have. Additionally, a flexi desk can facilitate bank account opening as banks require evidence of a company having some form of office or physical presence.
VAT obligations depend not only on the place of registration but also on where the business activities take place. VAT becomes applicable when the taxable turnover reaches AED 375,000. If a free zone company's trading activities take place abroad, the turnover is not considered taxable as long as the transactions occur outside the UAE. However, if goods are imported to the UAE, VAT at a rate of 5% must be added to invoices and paid.
The UAE is free from personal income tax. However, there is a 5% import tax on goods brought into the country and a 5% VAT on trading or service transactions that occur within the UAE.On June 1, 2023, the UAE introduced 9% corporate tax, however, companies registered in UAE free zones may be granted corporate tax exemption if they meet the criteria for qualifying activities.
The suitability of a free zone company versus an offshore or mainland entity depends on your business model and requirements. However, a free zone setup offers advantages such as 100% foreign ownership, eligibility for resident visas, the ability to conduct business both within and outside the UAE, and greater favorability with banks compared to offshore companies. Additionally, free zones often offer a flexi desk option instead of executive offices, making it a cost-effective way to start a business without unnecessary obligations.
While we strive to make the account opening process as smooth as possible, we cannot guarantee the approval as it ultimately depends on the bank. Each case goes through several bank departments for approval, and the bank may contact you directly for clarifications. Providing a clear picture of your business to the bank increases the chances of successful account opening. We do our best to prepare you and your company for a smooth and fast account opening process.
Your company should be renewed annually, and the cost is typically lower than the initial setup cost. The renewal fees depend on your company package, and you can obtain the price by downloading the Estimate from our website. Company renewal does not require the personal presence of the owner and can be done by your agent. After renewal, the new license must be presented to the bank to extend the bank account, which is included in our renewal service.
You have multiple options for fee payment. You can make payments via bank transfer, cash, or online using a card.
Elena O.
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