Dubai has always been a destination for any investor to invest in any area of business. Above all, free zones are a blessing for all those who wish to escape taxes. As everyone knows, each UAE Free Zone is dedicated to a specific industry. Today we will discuss one of the free zones in Dubai, the Dubai Health City Free Zone. In addition, discussion on why is it beneficial for setting up business in Dubai Free Zone.
Founded in 2002, Dubai Healthcare City has attracted world-class global and local names and a network of companies from the hospitality industry to consulting services and retail outlets. The DHCC has its supervisory authority and allows the formation of end-to-end companies. More than 100 medical facilities and 3,000 healthcare professionals have chosen Dubai Healthcare City FZ. The free zone provides experience in various fields, including health education.
Why Free Zone?
Starting a free zone business in Dubai can be a very productive venture that offers a variety of business openings and systems in the emirate. Free Zone aims to improve the universal organization by adopting 100% possession. A free zone is a geographical area within a country where goods, administrations and goods are exchanged without resistance to strict customary rules. A fact of free zone organizations in the United Arab Emirates is that World Business Center Points for organizations doing business outside the United Arab Emirates are not allowed to work in the United Arab Emirates.
The United Arab Emirates is considered a place famous for its rich trade organization and exchanges and has many international trade zones that facilitate the development of unknown speculation. DHCC offers a one-stop approach from getting your business license to obtaining a visa and work permit so you can start your business and take advantage of the free zone.
This is a winning proposal for a former stork who wants to set up an organization in the United Arab Emirates. In limited liability companies, financial specialists receive only 49% of the shares, while doing business in the free zone in the UAE does not have such restrictions. Foreign financial specialists become 100% owned by companies operating in the free zone.
How to Setup a Company in DHCC Free Zone?
The process of starting a business at DHCP is simple and easy. If you find the process daunting, you can enlist the help of a business consultant to make it run smoothly. Now let’s start the steps:
Choose Business Activity
There are many activities one can do to start a business at DHLC. They are as follows –
- Academic service provider
- Non-academic service provider
- Executive research
- Event management
- Regional headquarter
- Research and development
- Health care support
- Healthcare management
- Clinical inpatient
- Professional and management development training
- Healthcare consultancy
- Educational service provider
The business activity chosen because it makes it easier to obtain a business license.
Decide on the Corporate Structure
The company structure should choose for better clarity. There are two main types of business units:
- Free Zone Limited Liability Companies
- Branch Offices
Choose a Business License for Your Business
There are three main types of commercial licenses to register your business in Dubai and they are as follows:
- A Commercial License must be renewed every year
- A Facility License must be renewed every two years
- An Individual License for doctors and nurses must be renewed every two years
Choose a Trade Name
A company name should choose which does not resemble the name of a company incorporated in Dubai. After selecting a trading name, register it with the DHLC Free Zone Authority
Registration of Business
There are several steps in it, which are as follows:
- The signing of reservation contract and payment of administration fee and deposit of 10% of annual rent for maintenance of DHCC facilities
- Submit reservation applications and business plans and payment processing fees
- Submission of company registration documents, payment of registration and license fees
- Sign the deed of establishment and take letters from the bank and the decisions of the board of directors
- Deposit of share capital and return of proof of capital to DHCC
- Sign the lease agreement and receive the license
- As shown in step 5, the required documents are as follows:
- Specified application form for a trading license
- Deed of establishment and articles of association of the company
- The decision of the board of directors, if the shareholder is a company/photocopy of the founder’s passport, for individuals
Why Set Up a Business in DHCC Free Zone
Dubai Healthcare City is one of the most prosperous free zones in Dubai due to the incentives the government offers investors. This includes:
- Zero customs duty for goods and services
- Access to excellent healthcare professionals
- Flexible building design which suits the healthcare industry
- Zero trade barriers and quotas
- 100% foreign ownership
- 100% repatriation of capital and profits
- No currency restrictions
- Great infrastructure for setting up the business
If you have decided to set up a business in the Dubai Healthcare City Free Zone, a professional business setup consultant firm can help you with that. Their business design techniques, combined with their specialized industry knowledge and global reach, enable them to be the best in the business.