The DWTC or the Dubai World Trade Centre offers many opportunities for businesses seeking a centrally located and cost-effective business setup option in Dubai. This free zone also provides many advantages for entrepreneurs to easily set up and expand their businesses.
Despite the advantages, many investors are reluctant to start a business in the DWTC because of the uncertainty of the legal procedures and tedious nature of the setting up process. This is why business centres like The Executive Centre, have strategically streamlined the company formation processes to assist investors in setting up a business in the DWTC Freezone within just 2 weeks. Here is how their simple business setup process works.
1. Choose a Business Activity
First, you will have to choose the business activity you wish to carry out, in order to obtain the proper license . DWTC allows for multiple business activities, so you can explore and choose from many options. Depending on your business activity, the DWTC will provide one of these four licenses; professional, commercial, general trading, and event management.
2. Choose a Company Name
Your company name will have to adhere to certain standards established by the authority. For example, it should not include blasphemous language or references to religious or political organizations. The chosen business name should also be available to be registered at the Dubai World Trade Center Free Zone.
3. Choosing A Legal Structure
Every free zone in Dubai offers a distinct set of legal structures for the investors who wish to set up a company, depending on the business activity and purposes, The DWTC offers these three legal structures,
- Free Zone Company-FZCO allows multiple shareholders. The shareholders can be 2-10 or a company or companies. This can be a combination as well.
- Free Zone Establishment- This allows for a single shareholder within the free zone. Meaning a single individual or a single company can be a shareholder of the entity in the DWTC free zone.
- Branch of Foreign Company-This allows companies outside the UAE to establish a branch in the DWTC Free Zone. The foreign branch then will be able to conduct all or some of the unique activities of the parent company.
4. Gather All the Documents and Apply for a License
The next step is applying for a license. To do this, you will first have to fill the application form and gather the documents requested in the form. During this step, you can also make a visa application.
5. Pay Fees
Once you submit the documents, you will have to pay the fees for the registration and licensing to the DWTC authority. Once the payment is made, the process will start, and the license will be approved within a few days.
With the help of the Executive Centre’s business set-up process, setting up your business is as easy as identifying your business activity and the business name. You will discuss the purposes of your business, and the consultants will carry out all the other steps and get your business set up done in just 2 weeks. You can focus on your core business activities, while they get the set-up done for you in a hassle-free manner.
As a pioneer business centre in Dubai, The Executive Centre doesn’t just limit their services to business setups alone but also provide all the support you require to operate and grow your business inside their free zone offices.