About the company
|Type of company||Free Zone Company in the Emirate of Dubai registered with the Registry of Meydan located in the district of Meydan.|
|Authorized activities||The company may engage in any activity except banking, insurance and financial activities (such as currency exchange). The management of funds for third parties is not allowed.|
Concerning the share capital
|Authorized Currencies||United Arab Emirates Dirhams (AED)|
|Minimum Capital||Min. AED 100,000|
|Maximum Capital||No Limit|
|Capital release|| It is not required to deposit the company’s capital at inception or thereafter.|
Accounting & Auditing
|Bookkeeping and annual audit of accounts||It is mandatory to maintain accounts and perform an annual audit.|
|Justifications for Expenditure and Revenue||Nothing to justify (unjustified expenses will be debited from the partner’s shareholder account)|
About the Manager
|Eligibility||Any individual or legal entity regardless the nationality. Nominee Directors are not permitted.|
|Minimum Number of Manager||One.|
Can be a person or legal entity. If legal entity, then the manager must be a natural person
|Mandatory Local Shareholder||Not required. They can reside in any country|
About the Shareholders
|Minimum Number of Shareholders||One.|
|Maximum Number of Shareholders||No Limit.|
|Eligibility||Any individual (21+ yrs) or legal entity. Any nationality. Nominee Shareholders are not permitted.|
|Mandatory Local Shareholder||Not required. Shareholder(s) can reside in any country.|
Set up timeline
The deadlines to be expected are as follows:
– 3 business days to prepare your company’s registration documents from the time we receive your payment. The signature of the documents is electronic (so there is nothing to send us by mail);
– 3 working days maximum to receive the Certificate of Registration of your company;
– Visa of residence, you have 2 possibilities:
— Case n°1: you are present in Dubai for 3 weeks (from Monday morning to Thursday evening 2 weeks later) to get your visa;
— Case 2: we file your application with the Immigration Services 3 weeks BEFORE your arrival in Dubai. You will then have to be present for only 6 working days in Dubai (from Wednesday morning to Wednesday evening of the following week) to obtain your visa (= pink sticker stuck in your passport).
– If applicable, visa for wife/husband/children: as soon as you have obtained your residence visa and you have rented/bought a property in Dubai, we will be able to apply for visas for your wife/husband and your children (see required documents on page 15).
– EmiratesID (= credit card size identity card): it is now required to make an appointment with the Authorities to do the “fingert print”. Currently the delay to get an appointment is 3 weeks. To make this appointment, you must be present in Dubai and have already completed the medical examination. It takes a maximum of 2 hours to get your fingerprints taken (we also accompany you of course). The EmiratesID will then be received at our mailbox, at least 7 working days after the fingerprinting (your presence is not required to receive it, we keep it for you of course if you are not present).
– UAE driving license (= local driving license): as soon as we receive your EmiratesID, we can accompany you to the Traffic Department in Dubai to get your UAE driving license in 2 hours on the spot (please note that you cannot drive with a foreign license as soon as you have obtained a residence visa);
– Personal bank account: as soon as your EmiratesID is obtained, we can meet the bank to open your personal bank account. It takes 5 working days to get it.
– Professional bank account, you have 2 possibilities (both are possible of course!):
– Online banking: opening possible as soon as the company is registered, it takes max. 5 days to receive your account number;
or/and (both are possible without any extra cost!)
– Local bank in Dubai: opening possible as soon as you have obtained your residence visa, it takes about 3 weeks to get your bank account number in a local bank in Dubai.
Advantages and disadvantages of Meydan
Advantages of Meydan
The advantages of MEYDAN are as follows:
- Excellent value for money (license and offices)
- Remote registration of the company
- Time limits for registering the company
- Location of the Free-zone
- Possibility to rent an office outside the Free-zone
Disadvantages of Meydan
The disadvantages of MEYDAN are the following:
- Less prestigious than other free zones
- Limited list of activities
RATES FOR THE COMPANY AND RESIDENCE VISAS
Company set up package
Here are the rates for the company:
– The disbursements (fees charged by the Authorities) include the company’s license fee (the cost of which depends on the number of eligible visas), the Dubai Government fee (Knowledge & Innovation fee of AED 20) and, from 1 visa onwards, the Establishment Card fee (company identification card which is also compulsory, of AED 2,000 in the first year and AED 2,200 per year from the second year onwards). It should be noted that the Establishment Card fee is AED 200 higher from the second year onwards (to be added to the above amounts). This fee also includes a co-working shared desk of AED 375 per year to house the company’s headquarters.
– The number of eligible visas indicated is for partners and employees only, not for their families (husband, wife, children).
– Visa fees are not included in the above rates (see Residence Packages below).
– It is possible to have up to 3 activities per license. Above 3 activities, the Registry charges AED 1000 per year for each additional activity.
– There is no additional cost if you have a consulting activity AND a merchandise selling activity within the same company.
Our packages include the following:
Company creation fees (to be paid only once when the company is created):
– Service Charge -> these are our fees (nothing to add all is included!)
– VAT and accountancy training -> we explain how VAT works and your company’s accounting obligations
– Salary Register -> establishment of the Employee Register
– Company stamp -> this is a stamp that complies with local regulations (required for opening a bank account, etc.)
– FREE assistance in opening a bank account -> we assist you in opening a bank account for your company
– FREE setup of invoicing and accounting application -> Installation and configuration of invoicing and accounting software
– FREE logo for your company -> creation of a logo for your company (which can be used for your letterhead)
Company maintenance fees (to be paid once a year, at creation and then at each renewal of the company):
– Service Charge -> these are our fees for the maintenance of the company (nothing to add all is included!)
– UNLIMITED after-sale support concerning your company in the UAE -> we provide unlimited customer support to answer all your questions
– Coordination with Accountant -> we provide a coordination service with the accountant of your foundation
– Coordination with Auditor -> we provide a coordination service with your foundation’s auditor
– Coordination with Tax Agent -> we provide a coordination service with the tax agent in charge of the VAT of your foundation
– Subscription to Merritt Updates -> legal, fiscal and social watch on the Emirates sent by email
– UNLIMITED access to Merritt.center -> all administrative, legal and accounting documents of your company in a secure customer portal
– UNLIMITED access to Merritt.guide -> all useful information concerning your company and your life in the UAE
– Maintenance of UBO Register -> this involves maintaining and updating the Register of final beneficiaries as required by the Authorities
– Correspondence address in Dubai (including UNLIMITED scan and forward of your mails and courier) -> we scan / resend your mail as soon as it arrives according to your instructions
– FREE shared telephone number in the UAE (with answering in English and Arabic) -> shared telephone number with telephone secretary in English and Arabic
– FREE domain name + WordPress pre-installed + emails -> domain name + installation of a WordPress showcase site + email addresses on a server located in Dubai
Package for the residence
Here are the rates for the residence:
– If a residence visa is applied for while in the UAE on a tourist visa, there is an additional fee of AED 1,600 to change its status to a residence visa.
– Exchange Driving License: the exchange driving license fee is to be deducted if not applicable (see list of countries available on next page).
– Medical check: the medical check fee is deducted for children under 15 years old.
– Local medical insurance is required for all residence visas (from AED 1,000 per year, contact us)
– A negative local PCR test is currently required for the Emirates ID fingerprinting appointment. Its cost is not included in the above fees.
– The visas below are automatically cancelled if the holder spends more than 6 consecutive months outside the Emirates. For AED 500 in addition, it is possible to increase this period to 12 months.
The Residence Packages are in addition to our Company Packages. They are not mandatory and can be subscribed can be subscribed whenever you want without any validity limit.
Our packages include the following:
– Residence visa (with support and assistance for all formalities) -> we assist you and carry out all the formalities for obtaining your residence visa in an air-conditioned vehicle with driver from our offices in Dubai. The person from our team who will accompany you speaks French, English and Arabic.
– EmiratesID -> we request and receive in our office your Emirates ID card (sent by Po Box by the Authorities)
– UAE driving license exchange -> in the framework of the recognition of your foreign license, we carry out all the steps to obtain it and accompany you to the traffic department for this purpose
– Assistance in opening a personal bank account -> we assist you in opening a personal bank account in Dubai
– Assistance in opening a brokerage/saving bank account -> we assist you in opening an investment account (Saxo Bank, EmiratesNBD Private Banking, etc.)
– UNLIMITED after-sale support concerning your residency in the UAE: insurances (health, home, car, travel), succession planning, etc. -> We provide unlimited after-sale support concerning your residency in the UAE: insurances (health, home, car, travel), succession planning, etc.