Meydan Free Zone (MFZ)

Meydan Stadium, on which the Meydan Free Zone The Meydan Free Zone is a strategic brainchild of the Dubai government of the Government of Dubai, which aims to unite the world with the Emirate of Dubai through international exhibitions and competitions.

Located in the heart of heart of Dubai, Meydan Free Zone gives its companies a distinctive advantage in global markets due to its ease of registration, advanced transport developed transport and telecommunications infrastructure, as well as a wide range of banking services. banking services.

To register a company in Meydan Free Zone, the following steps are required:

1. Define a company name to check for uniqueness (at least 3 variants):

• must not be identical or similar to the name of an existing company;
• Latin alphabet characters are allowed.
• must end in "LLC-FZ".

2. Determine the structure of the company (director, shareholders, manager).

3. Define the type of license.

There are three types of licences in the Meydan BMS:

• Professional licence - allows the holder to provide consultancy or other professional services specified in the licence.

Examples of professional licences are: management, HR consulting, business consulting, education, logistics, real estate, investment of own funds (holding), etc. A business-related licence - enables the licence holder to hold a business investment in his or her own assets (holding).

• Commercial licence - allows the holder to import, export, sell, distribute and store goods specified in the licence.

Examples of commercial licences: e-commerce. Examples of commercial licences: e-commerce, trade in a certain type of goods.

BMS Meydan, among others, provides Extended licenses (general trading)

• Media license - allows the holder to provide services related to the dissemination of information, advertising, etc.

Some licenses require the approval of the relevant regulator.

2. define the structure of the company (director, shareholders, manager).

4. Pay for the services.

5. Submit the documents for the directors / shareholders / attorneys (either originals or notarized copies):

• Internal and foreign passports;
• legalised proof of address (if no registration stamp in the internal passport);
• CV (CV);
• legalised bank reference or bank statement (not older than 6 months) with stamp;
• legalised education document (depending on the selected licence).

For the shareholders it is additionally necessary to submit:

• CV in the form of a letter: telephone number, e-mail address, residential address, country of residence, mother's name, marital status, religion, nationality;
• no legalised documents are required for the founder/shareholder of the company.

7. Prepare and submit a set of documents for company registration, sign the documents with the officers and shareholders of the company.

The following documents are prepared for submission to the registration authority:

• Application for company registration (to be signed by the shareholder);
• No Objection Letter (letter from the sponsor) - if there is a valid UAE visa issued by another company;
• Articles of Association and the Memorandum of Association;
• Business plan for the next 3 years;
• Power of attorney for the representative (if registering remotely);
• Copies of passports and CVs of the director, manager, shareholder.

8. Receive the registration documents and stamp.

Upon registration, the FEZ Administration will issue the following documents:

• Certificate of registration, indicating the number and date of registration, type of license, information about company's shareholder and shareholders' equity;
• Register of shareholders;
• License for company activity (license is valid for 1 year);
• Office rent agreement (valid for 1 year);
• Shares certificate;
• Charter and memorandum of incorporation.

A seal of the company is also issued.

The total term of the company registration in Meydan Free Zone is on the average 15 working days.

At the time of registration, an office rental agreement is drawn up between the company and BMS administration, an office rental agreement is drawn up. The address of such an office is deemed to be the registered office address of the company.

As an office BMS Meydan offers only flexi desk. This BMS does not offer real offices or warehouses.

Companies are required to have a seal.

Redomiciliation of companies to and from the UAE is permitted.

Only a natural person may act as a director. There are no residency requirements for directors.

The minimum number of directors is 1, the maximum number is 4.

Information on the directors is not publicly available publicly available.

The manager can only act as natural person. There are no residency requirements for managers.

The minimum number of managers is 1, maximum number of BMS is not set.

May coincide with director / shareholder.

Information about managers is not publicly available publicly available.

Individuals and legal entities are allowed, there are no residency requirements.

The minimum age of a shareholder is 18 years old, maximum - 60 years old.

Minimum number of shareholders - 1, maximum number - 50.

In the Meydan FEZ, there is no requirement to have local shareholder in the company structure.

Information on shareholders is not publicly available publicly available.

Although many jurisdictions are discussing the creation of a public register of beneficial owners, the UAE does not yet have one. This means that there is no public access to beneficial owner information. It is held by the registration agent. Beneficiary information can only be disclosed to regulators (e.g. during inspections for its availability) or by court order.

The standard minimum share capital of a company is in the Meydan FEZ is AED 100 000.

A company may not issue shares of different classes. All shares must be paid up when they are issued. It is also not possible to issue the issue of bearer shares is also not possible.

There is no requirement to provide proof of payment of share capital in order to register the company.