3.3 Free Zone Company Formation Process

Process of Founding a Free Zone Company

Free Zone Company Formation in Three Steps. Essentially the formation of a free zone company is, in comparison with an offshore company formation, more extensive and time intensive. In order to give you an overview of the process for setting up a free zone company, we have summarised it below.

What is a Free Zone?

Step 1: Requirements for Company Formation

  1. Find the right free zone for your business. To assist you this website has information on the “Free Trade Zone Ras Al Khaimah“ and “Free Trade Zone Ajman“, as well as a page on “Free Trade Zone Locations in Comparison“.
  2. Get in touch with us via email or the online form. Provide us with your intended line of business.
  3. Based on the information we receive from you, we will put together an individualised proposal with a comprehensive offer.
  4. If you are happy with our terms and conditions, we will be pleased to proceed with the incorporation of your new company.

The time frame for the above is approx. 2 working days.

For the new setup, we will then require:

For remote setup (no presence required):

  • A notarised copy of your passport*
  • A UAE entry stamp in your passport
  • A notarised copy of a Power of Attorney (POA)
  • Original utility bill displaying/matching your current address**
  • Brief CV
  • A personal bank reference (a confirmation that you are known to your bank, that your account is in good standing etc.)

*The copies passport and POA be notarised by a consulate or embassy of the UAE. This can be any consulte or embassy of the UAE, anywhere in the world. **A utility bill can be an electricity/water/telephone bill.

If you travel to the UAE:

  • Your original passport
  • A UAE entry stamp in your passport
  • Original utility bill displaying/matching your current address
  • Brief CV
  • A personal bank reference

Once your request has been received you will receive an invoice via email. We offer the following payment options: American Express, MasterCard, PayPal, Western Union, VISA and bank transfer.

Step 2: Company Setup

Upon receipt of your payment, Privacy Management Group will prepare the setup of your free zone company. In the course of these preparations we may require some further information.

Once all required documentation has been processed, your company will be ready to commence business operations.

Lead-time required: approximately 7-10 working days

Step 3: Offices, UAE Investor Visa Application and Bank Accounts

Once the company setup procedure is complete, the lease contract for your business premises will be forwarded to you. Our team will then proceed with your investor visa application(s). Our banking specialists will arrange for the opening of business and personal bank accounts in the UAE. We are associates of several banks in the UAE. Further information on the subject of “Banking Service“ can be found under “Our Banking Service“.

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