december 2017 · dmcc free zone – company setup proposal 1.0 why creative zone? looked after by...

Suite 1901, Level 19, Boulevard Plaza Tower 1. Sheikh Mohammed Bin Rashid Boulevard Level 19, Creative Tower, P.O. Box 4422 Downtown Dubai, P.O. Box 27363, Dubai, UAE. Fujairah, UAE.

Email:[email protected],Website:www.creativezone.ae 1

December 2017

DMCC Free Zone – Company Setup Proposal 1.0 Why CREATIVE ZONE?

Looked after by our team of experts –at CREATIVE ZONE you will be looked after by our team of 105 multilingual experts, who have been part of the UAE setup industry for over a decade, and have successfully setup over 12,000 companies since our inception in 2010.

Dedicated Account Manager and efficient PRO Services - with our dedication to personalized and efficient customer service, we will assign you an account manager as soon as you become a CREATIVE ZONE client, who will be your single point of contact and will regularly update you on the status of all your applications, and always be on hand to answer your queries. Together with our efficient team of PROs constantly striving to complete your applications in a timely fashion, we remove the stress and hassle usually associated with setting up a new company and obtaining your UAE residency visa.

Exclusive use of Prestigious Dubai Business Center - the Business Center, located in the heart of Downtown Dubai overlooking the Burj Khalifa, have an exclusive arrangement with CREATIVE ZONE, allowing you to make use of the excellent services and facilities on offer. The center is equipped with free Wi-Fi connectivity and impressive meeting rooms and free water and hot beverages in their onsite internet café and lounge, where you will be looked after by efficient support staff who will be answering your dedicated new phone number, assisting you with scanning and printing your documents and greeting your guests on arrival - giving you and your new business the prestige, credibility and helping hand it deserves.

Business Support Services of the highest caliber - at CREATIVE ZONE, we have thought of everything to help you launch and grow your new business and make it a success from the very beginning. We provide you with business cards sporting your new contact details, a domain name accompanied with a splash page and email accounts. Furthermore we hold regular networking events providing you with access to fellow CREATIVE ZONE clients and our network partners, where you will be able to explore mutual business opportunities and forge new alliances that will give your new business a valuable head start.

Access to our exclusive list of banking contacts – we will provide you access to our exclusive list of contacts with the leading banks in the UAE, who will assist opening your new company bank account in an efficient and timely fashion.

2.0 Why DMCC Free Zone? Dubai Multi Commodities Centre Authority was established in 2002 as a strategic initiative of the Government of Dubai with a mandate to provide physical, market, and financial infrastructure required to set up and operate a thriving commodities marketplace, today DMCC is officially recognized as the largest Free Zone in the United Arab Emirates with over 9,700 registered companies.

Largest Free Zone in the UAE – DMCC is the fastest growing and largest Free Zone in the UAE with over 9,700 member companies licensed across different sectors.

100% business ownership – an expat can fully own the business without a requirement of a local partner

Strategic Location – DMCC is located in the heart of new Dubai with the proximity to Jebel Ali Free Zone & Ports and the Dubai International Airports.

Flexible Office Solutions – Options for immediately available flexi desks (plug and play), serviced offices, as well as freehold & leasehold offices for retail and commercial use. Buying an office space is also allowed.

World Class Business Hub – Dubai is perfectly situated to access the world’s developing economies, which makes it the ideal location to set up and grow the business in this region.

A full range of business activity options – DMCC mirrors majority of Dubai Department of Economic Development activities from commodities to retail outlets, consultancies to beauty salons.

Networking and Training Events – Regular networking events through DMCC industry events, sector specific clubs, and informative workshops as well as Training on the latest developments in trade regulation & compliance standards.

Trading Platforms – Trading platforms such as the Dubai Gold & Commodities Exchange (DGCX), Dubai Diamond Exchange, DMCC Pearl Exchange, DMCC Tea Centre and DMCC Trade flow.

Fewer Nationality Restrictions – Lesser restrictions apply compared to other free zones in terms of ownership, visas & dependents sponsorship.



3.0 Available Business Activities

A wide range of trading, services, and industrial activities is available ranging from but not limited to:

Agriculture Fishing Mining & quarrying Manufacturing Electricity, gas & water supply Construction Trading and repairing Hotels and restaurants Transport, storage and communications Financial intermediation Education Health and social work Other community, social and personal service

4.0 Company Setup options

4.1 New Entity

Trading – allows the license holder to import and export in a specific commodity or product. Can be Commercial or General Trading.

Service – allows the holder to provide consultancies and other professional services.

4.2 Branch, Subsidiary, or Representative Office

* A Paid Up Share Capital requirement of AED 50,000 is required for New Companies & Subsidiaries. Each shareholder must contribute a minimum of AED 10,000 each thereafter. Branches are exempt from the additional share capital requirement. The share capital needs to be deposited in the company bank account within 3 weeks from the date of trade license is issued.

5.0 Creative Zone Support Services

ITEM

250 free business cards provide after the contact details are received from the client

Free domain name registration with splash page design and email account setup

Introduction to bank representative for setting up company bank account

Dedicated account manager to manage your documents and update you on the status of your applications

Free Company Stamp

Regular networking and business development sessions with fellow CREATIVE ZONE clients and our network partners

NOTE: CREATIVE ZONE’S support services are independent services provided by CREATIVE ZONE to their clients. These services are not provided by or affiliated with any particular Free Zone or type of company license; however they are mandatory requirement for all CREATIVE ZONE clients and will be renewed annually.



6.0 Pricing

Commercial Trading/Service License

Year 1 Year 2

Trade Name Reservation AED 1,015

Trade License Fee AED 20,265 AED 20,265

Registration Fee AED 9,010

Memorandum Of Association AED 2,010

Auditors Appointment Letter AED 1,000

Paid Up Share Capital Requirement

AED 50,000*

CZ Professional Fee AED 12,000 AED 10, 000

TOTAL AED 95,300** AED 30,265**

General Trading

Year 1 Year 2

Trade Name Reservation

AED 1,015

Trade License Fee

AED 50,265 AED 50,265

Registration Fee

AED 30, 010

Memorandum Of Association

AED 2, 010

Auditors Appointment Letter AED 1,000

Paid Up Share Capital Requirement

AED 50,000*

CZ Service Fee AED 12, 000 AED 10, 000

TOTAL AED 146,300** AED 60,265**

Office Options

Options Cost

Flexi Desk Part Time*** 3 visa allocation

AED 17, 610

Physical Office for Lease* Starting from AED 90+ per sq.ft

Options available to purchase or lease the office space

Note:

* If a visa is required the share capital requirement will be AED 60,000 per shareholder. * For General Trading License the minimum share capital requirement is AED 1 million. **The total cost is exclusive of flexi desk or physical office cost. ***Flexi offices and desks are subject to availability and approval from DMCC and theyrequire a 10% deposit. The flexi desk option

is not available for General Trading License. **** AED 1000 additional to the Share Capital for the Bank Share Capital Deposit Letter.



Immigration and Visa Immigration

Company Immigration Card New– Cost 590 AED+ Processing Fee AED 1000(renewable every year) – Timelines - 15 working days Renewal – Cost 610 AED + Processing Fee AED 1000

Visa (Visas are valid for 3 years) Timeline: 7 business days for entry visa and 7business days for residence visa stamping

Residency Visa (Inside Country) - 4,515 AED+ AED 3000 (refundable deposit) Residency Visa (Outside Country) - 3,315 AED+ AED 3000 (refundable deposit) CZ Service Feefor visa processing- 1,500 AED Emirates ID Card - 370 AED(payable directly to the ID Card Center) Medical - 880 AED(payable directly to the Medical Center)

If you wish to avail our Assistance for the Medical test and Emirates ID card application, we can provide this for a fee of AED 2,500. This includes the following:

Pick up and drop off from your home address, hotel, or any point in Dubai using one of our regular 4 door sedan cars. Assistance by one of our efficient Public Relations Officers to make the process as seamless as possible. Inclusive of the government costs for both the medical test and Emirates ID application. You will be assisted in doing both your medical test and Emirates ID application in Al Karama medical center all on the same day. Collection of the Medical report on your behalf (results are collected after 2 working days). Collection of the Emirates ID card on your behalf (released after 15 working days from residence visa stamping). You can also upgrade for ONLY AED 195! Ride in Style & Luxury in our Lexus VIP service! Our Senior PRO will assist you during your Medical test and Emirates ID card application for a more premium experience. (Total of AED 2,695)

Health Insurance (mandatory for all employees) – costvaries*Optional - should you not wish to exit the country and re-enter after the entry visa has been issued – please note this option is only available to those applicants on their 30 day grace period following the cancellation of their previous residency visa OR if you are in the country on a visit visa (NOT Tourist Visa) OR if you received a visa on arrival into the UAE - granted to nationals of 46 countries who don’t need to apply for a visa prior to entering the UAE

7.0 Documents and timelines 7.1 Documents Stage 1 - Requirements for Pre - Approval

1) License Application form 2) Passport Copy of all proposed company Shareholders/Director/Manager/Legal Representative/Secretary/HR Signatory 3) Emirates ID copy Shareholders/Director/Manager/Legal Representative/Secretary/HR Signatory (if applicable) 4) Visa copies of all proposed company Shareholders/Director/Manager/Legal Representative/Secretary/HR Signatory (if

applicable) 5) Know Your Client (KYC) form for each Shareholders/Director/Manager/Legal Representative/Secretary/HR Signatory 6) Letter of No Objection from existing Sponsor for each Shareholders/Director/Manager/Legal Representative/Secretary/HR

Signatory, if currently holding a UAE residence visa. 7) Business Plan (CZ will provide guidelines). 8) Proof of permanent residential address of each Shareholders/Director/Manager/Legal Representative/Secretary/HR

Signatory(utility bill not older than 6 months showing full residential address, PO Box not accepted). 9) Creative Zone Appointment Letter 10) Undertaking Letter for specific business (if applicable)

For Corporate Shareholders – The following additional documents will be required

1) Valid Certificate of Registration of the parent company or Extract from Chamber of Commerce notarized in home country, If a DMCC company is the shareholder, only copy will be required.

2) Certificate of Incumbency issued by the Company Registrar notarized (or similar document showing the company’s authorized signatories) At least one parent company document to be attested by the UAE Embassy or by Apostille, preferably the Certificate of Incumbency. If a DMCC company is the shareholder, only copy will be required.

3) Memorandum & Articles of Association of the parent company notarized in Home Country. If a DMCC company is shareholder, only copy will be required.

4) Board Resolution form the parent company authorizing the signatory to sign on behalf of the company (DMCC specific template to be used)



Pre – Approval can take approximately15 working days. The approved company name shall be reserved by DMCC (after approval) and

valid for 60 days from date of confirmation

Stage 2 - Requirements for Registration

1) Specimen signature form for each Shareholders/Director/Manager/Legal Representative/Secretary/HR Signatoryto be signed in the presence of Service Manager or duly Notarized in Home Country.

2) Shareholders Resolution to be signed in the presence of Service manager or Notarized and Attested by the UAE Embassy in Home Country or Apostilled. (DMCC specific template should be used)

3) Memorandum & Article of Association to be initialed on each page andsigned in the presence of Service Manager or notarized in Home Country. At this point; the client has to come to the Creative Zone offices for Creative Zone to witness the signing.

4) Undertaking Letter to comply with DMCC’s requirements. 5) Third party approvals from relevant Authorities, if applicable. 6) Auditor Appointment. 7) Bank account opening.

Note : Upon submission of registration requirements, DMCC shall issue the Provisional Approval and Bank letter. The provisional

Approval letter is required to sign a Lease Agreement.

Stage 3 - Requirements For Licensing

1) Valid property lease agreement covering the license validity period and Evidence of Property Ownership either a Title Deed (original to be sighted) or current dated Certificate of Ownership. Tenancy agreement to be in the exact same reserved company name, to be current –dated and valid for at least one year from the date of submission and must mention the size/area and location of the office. Or

DMCC Flexi Desk Office Contract (subject to approval)

Or

Owned Property Under the same DMCC Company Name Evidence of Property Ownership either a Title Deed (original to be sighted) or current dated Certificate of Ownership

2) Certificate of conformity (COC) & Stamped unit – fit out drawings issued by Concordia DMCC (Applies for retail DMCC Towers) Or AOFC (Annual operational fitness certificate) issued by Concordia (Applies for physical office)

3) Bank Share Capital Deposit Confirmation Letter or Bank Statement reflecting the deposit amount(If Share capital is AED 500,000 and above)

Note: All the above documents for Stage 3 must be submitted within 60 days from date of the Provisional Approval and Bank Letters

issuance. If the documents are not submitted within this time frame, the application will be terminated. No refunds will be possible at

any stage.

Stage 4 – Post License Requirements (Must be submitted within 28 days of license release)

1) Certificate of Conformity from Concordia (Not applicable for Flexi Desk or Serviced offices) Or AOFC (Annual operational fitness certificate) issued by Concordia (Applies for physical office)

2) Bank Share Capital Deposit Letter or Bank Statement reflecting the deposit amount should be submitted within 3 weeks from Licensing

3) Sample Company Letterhead with stamp with new DMCC company name 4) Share Certificate/s with company stamp 5) Letter appointing external Auditor on auditor company letterhead 6) Personal Secondment Agreement



Requirements For A Subsidiary

Stage 1 - Requirements for Pre - Approval

1) License Application form 2) Passport Copy of all proposed company Shareholders/Director/Manager/Legal Representative/Secretary/HR Signatory 3) Emirates ID copy Shareholders/Director/Manager/Legal Representative/Secretary/HR Signatory(if applicable) 4) Visa copies of all proposed company Shareholders/Director/Manager/Legal Representative/Secretary/HR Signatory(if


Signatory, if currently holding a UAE residence visa. 7) Business Plan (CZ will provide guidelines). 8) Proof of permanent residential address of each Shareholders/Director/Manager/Legal Representative/Secretary/HR

Signatory(utility bill not older than 6 months showing full residential address, PO Box not accepted). 9) Creative Zone Appointment Letter 10) Parent Company Documents – Only English Scanned Copies – Of – Certificate of Registration, The MOA, Certificate of

Incumbency, Ultimate Beneficiary Owner Form and Trade License if available. 11) Board Resolution form the parent company authorizing the signatory to sign on behalf of the company(DMCC specific

template to be used) 12) Undertaking Letter for specific business (if applicable)

Pre – Approval can take approximately 15 working days. The approved company name shall be reserved by DMCC (after approval) and

valid for 60 days from date of confirmation.

Stage 2 – Requirements for Registration

1) Specimen signature form for each Shareholders/Director/Manager/Legal Representative/Secretary/HR Signatoryto be signed in the presence of Service manager

2) Board of Resolution to be signed in the presence of Service Manager or Notarized and Attested by the UAE Embassy in Home Country or Apostille. (DMCC specific template should be used)

3) Memorandum & Article of Association to be initialed on each page and signed in the presence of Service Manager or notarized in Home Country. At this point; the client has to come to the Creative Zone offices for Creative Zone to witness the signing.

4) Valid Certificate of Registration of the parent company or Extract from Chamber of Commerce notarized in home country, If a DMCC company is setting up a DMCC Subsidiary, only copy will be required.

5) Certificate of Incumbency issued by the Company Registrar notarized (or similar document showing the company’s authorized signatories) At least one parent company document to be attested by the UAE Embassy or by Apostille, preferably the Certificate of Incumbency. If a DMCC company is setting up a DMCC Subsidiary, only copy will be required.

6) Memorandum & Articles of Association of the parent company notarized in Home Country. If a DMCC company is setting up a DMCC Subsidiary, only copy will be required.

7) Undertaking Letter to comply with DMCC’s requirements. 8) 3rd party approvals from relevant Authorities if applicable 9) Auditor Appointment letter

Upon submission of registration requirements, DMCC shall issue the Provisional Approval and Bank letter. The provisional Approval

letter is required to sign a Lease Agreement.

Stage 3 – Requirements For Licensing



Or

Owned Property Under the same DMCC Company Name Evidence of Property Ownership either a Title Deed (original to be sighted) or current dated Certificate of Ownership

2) Certificate of conformity (COC) & Stamped unit – fit out drawings issued by Concordia DMCC (Applies for retail DMCC Towers and Industrial activities only. Or



AOFC (Annual operational fitness certificate) issued by Concordia (Applies for physical office) 3) Bank Share Capital Deposit Confirmation Letter or Bank Statement reflecting the deposit amount (If Share capital is AED

500,000 and above)



any stage.


1) Certificate of Conformity from Concordia (Not applicable for Flexi Desk or Serviced offices) Or AOFC (Annual operational fitness certificate) issued by Concordia (Applies for physical office)

2) Bank Share Capital Deposit Letter or Bank Statement reflecting the deposit amount should be submitted within 3 weeks from Licensing

3) Sample Company Letterhead with stamp with new DMCC company name 4) Share Certificate/s with company stamp 5) Letter appointing external Auditor on auditor company letterhead 6) Personal Secondment Agreement

Requirements For A Branch

Stage 1 - Requirements for Pre - Approval

1) License Application form 2) Passport Copy of all proposed company Shareholders/Director/Manager/Legal Representative/Secretary/HR Signatory 3) Emirates ID copy of Shareholders/Director/Manager/Legal Representative/Secretary/HR Signatory (if applicable) 4) Visa copies of all proposed company Shareholders/Director/Manager/Legal Representative/Secretary/HR Signatory(if


Signatory, if applicable. 7) Business Plan (CZ will provide guidelines). 8) Proof of permanent residential address of each Shareholders/Director/Manager/Legal Representative/Secretary/HR

Signatory(utility bill not older than 6 months showing full residential address, PO Box not accepted). 9) Creative Zone Appointment Letter 10) Parent Company Documents – Only English Scanned Copies – Of – Certificate of Registration, The MOA, Certificate of

Incumbency, Ultimate Beneficiary Owner Form and Trade License if available. 11) Board Resolution form the parent company authorizing the signatory to sign on behalf of the company (DMCC specific

template to be used) 12) Undertaking Letter for specific business (if applicable)

Pre – Approval can take approximately 15 working days. The approved company name shall be reserved by DMCC (after approval) and

valid for 60 days from date of confirmation.

Stage 2 – Requirements for Registration

5) Specimen signature form for each Shareholders/Director/Manager/Legal Representative/Secretary/HR Signatory to be signed in the presence of Service manager

6) Board of Resolution to be signed in the presence of Service Manager or Notarized and Attested by the UAE Embassy in Home Country or Apostille. (DMCC specific template should be used)

7) Memorandum & Article of Association to be initialed on each page and signed in the presence of Service Manager or notarized in Home Country. At this point; the client has to come to the Creative Zone offices for Creative Zone to witness the signing.

8) Valid Certificate of Registration of the parent company or Extract from Chamber of Commerce notarized in home country, If a DMCC company is setting up a DMCC Subsidiary, only copy will be required.

9) Certificate of Incumbency issued by the Company Registrar notarized (or similar document showing the company’s authorized signatories) At least one parent company document to be attested by the UAE Embassy or by Apostille, preferably the Certificate of Incumbency. If a DMCC company is setting up a DMCC Subsidiary, only copy will be required.



10) Memorandum & Articles of Association of the parent company notarized in Home Country. If a DMCC company is setting up a DMCC Subsidiary, only copy will be required.

11) Undertaking Letter to comply with DMCC’s requirements. 12) 3rd party approvals from relevant Authorities if applicable 13) Auditor Appointment letter

Upon submission of registration requirements, DMCC shall issue the Provisional Approval and Bank letter. The provisional Approval

letter is required to sign a Lease Agreement.

Stage 3 – Requirements For Licensing



2) Owned Property Under the same DMCC Company Name Evidence of Property Ownership either a Title Deed (original to be sighted) or current dated Certificate of Ownership

Certificate of conformity (COC) & Stamped unit – fit out drawings issued by Concordia DMCC (Applies for retail DMCC Towers and Industrial activities only. Or AOFC (Annual operational fitness certificate) issued by Concordia (Applies for physical office)



any stage.


1) Certificate of Conformity from Concordia (Not applicable for Flexi Desk or Serviced offices) Or

AOFC (Annual operational fitness certificate) issued by Concordia (Applies for physical office) 2) Sample Company Letterhead with stamp with new DMCC company name 3) Letter appointing external Auditor on auditor company letterhead 4) Personal Secondment Agreement X2 to be initialed, signed and returned to DMCC. DMCC will stamp and return the 1st set.

7.2 Timelines

Day 1 Submit application forms along with the required documents for Pre- Approval to CREATIVE ZONE and make payment Apply for the DMCC portal login ID and Password for the establishment of a new company.

Day 4 Application for Pre-Approval is submitted- Stage 1

Day 19 Pre Approval is issued and proposed company name shall be reserved

Day 20 Client to Visit CZ office to submit & sign the documents for registration of the company – Stage 2

Day 21 Submission of documents for registration to DMCC

Day 31 Provisional approval & Bank Letter is Issued

Day 32 Submission of documents for Licensing – Stage 3



Day 40 Following documents will be released For New Company 1) Issue the Company License 2) Issue the Memorandum & Articles of Association (MOA) 3) Issue the share certificate (s) 4) Issue the Certificate of Registration 5) Issue the Personal Secondment Agreement Release quota for 1 visa (until completion of office fit –out) For Subsidiary Company 1) Issue the Company License 2) Issue the Memorandum & Articles of Association (MOA) 3) Issue the share certificate (s) 4) Issue the Certificate of Registration 5) Issue the Personal Secondment Agreement Release quota for 1 visa (until completion of office fit –out) For Branch Company 1) Issue the Company License 2) Issue the Personal Secondment Agreement

Release quota for 1 visa (until completion of office fit –out)

Day 41 Submit documents for Stage 4within 3 weeks from the date of the trade license is issued

Day 41 Apply for Establishment Card– will be issued within 15 working days

Please Note:

The above timelines correlate to working days not calendar days. The above timelines are collated based on the average processing times over the previous 3 months and hence are not exact and in

reality may be shorter or longer. Applications are submitted for processing and indicated timelines commence upon realization of payment.

The cut-off time for documents to be submitted/received, and payments to be received/realized is 1pm, anything received after this

time will be considered towards the following working day. During periods in and around Ramadan, days of mourning, Eid and other National and Religious Holidays the indicated timelines are

likely to become subject to delays.

Change of status (in/out stamp) would need to be carried out prior to proceeding for your Emirates ID Card. Should you be outside the country when the visa is issued, and are not from one of the 46 countries that are granted a visa on arrival,

and are entering the UAE on your new entry visa, which will constitute your change of status, please be sure to contact your airline prior to travelling, as many airlines will need to see a copy of your entry visa prior to travel in order to verify the sameand then upload a copy of the visa onto their system, and provide you with an ‘OK to Board’. The same would apply if you are inside the country when the visa is issued, and plan to exit the country with your visa in hand, and then re-enter the UAE by air.

Furthermore when you are entering the country on your new entry visa, please ensure you carry out your eye scan at the airport on arrival, and ensure the immigration official stamps the entry visa as well as your passport. Do NOT enter on your e-gate card.

Once you complete your change of status you will NOT be able to travel outside of the UAE until your passport has been stamped with

your residency visa. The Visa process for certain nationalities may be longer than the timelines indicated above.

Should you have a visa application under process and wish to travel in and out of the UAE, and are a national of one of the 46

countries who are granted visit visas on arrival, please contact us before re-entering the UAE, as if your visa application has cleared security approval, you may have to wait until your new employment visa has been issued and to re-enter the UAE using the same.

Please note that we are legally obliged to keep the applicant notified of all steps and progress reports concerning their visa process and release the visa and passport directly to them unless they instruct us otherwise. We will not be able to release the passport or visa to anyone else, including the company owner/s, unless expressly directed to do so by the applicant.

Important Additional Information

All procedures, timelines and costs are valid at the time of going to print, however may become subject to change without notice.

All document clearing and document processing tasks pertaining to your applications (Trade License, visas etc) are carried out by our office in Dubai.

Payments for all applications should be made to our office in Downtown, Dubai or via bank transfer, or bank deposit (cheque or cash).

Any payments received by CREATIVE ZONE towards any product or services are non-refundable unless agreed otherwise. This condition is valid even if the payment received isn’t for the full amount of the service or product subscribed for and/or the customer has yet to provide CREATIVE ZONE with all the correct documentary requirements for said product or service and/or their application is rejected by the licensing authority for any reason.



Please note the prices quoted in this proposal are specific to the products and services mentioned, they do not include any ancillary services i.e. driving license transfers, liquor license, dependents visas etc – please contact us if you would like pricing and procedures for the same.

Companies registered with DMCC Free Zone; are permitted to carry out business activities with companies within the Free Zone or with companies within other Free Zones in the UAE or with companies outside the UAE. Should the company wish to conduct business with Government entities or local companies within the UAE they should either establish a local branch office or transact through a local commercial agent.

With regard to the introduction to the bank representative by CREATIVE ZONE, this is an introductory service only and CREATIVE ZONE aren’t involved in the process beyond the introduction. After the introduction it is for the client to liaise with the bank representative directly and satisfy the requirements of the bank in order to successfully have their account opened.

In order to keep your company bank account active, you will need to visit your bank annually with your original renewed trade License and present it to the bank for sighting, this must be carried out on or before the expiry date of your current Trade License

In order to setup your company, you will need to submit entry stamps OR residency visa copies OR cancelled visa copies for all shareholders.

If any of the shareholders is an Emirati National, we will need a copy of their ‘Jinsiya’ and their Emirates ID Card

If the company you are setting up is a branch of a company or partially or fully owned by another company, at the time of opening the company bank account you will be required to submit a current attested Certificate of Incumbency and a current attested Certificate of Good Standing.

In case you are opening a branch or a company is a shareholder, it is important that one can identify the individual named beneficial owners of the parent company – companies which have multiple layers and/or are nominee companies where one is unable to identify individual named beneficial owners will be unable to open a company bank account in the UAE.

If you will be applying for visas under the company, you will need to open a company bank account and make monthly salary payments from your company bank account. All employees under the company will need to open personal bank accounts as well.

With regard to the access to our banking contacts, CREATIVE ZONE will simply provide a list of banking contacts, after which the onus is on the client to contact the banking representative directly and organize a meeting at a time and venue of the client and banking representative’s choosing. CREATIVE ZONE aren’t involved beyond providing the list of banking contacts, furthermore CREATIVE ZONE do not provide any assurances that the company bank account will be successfully opened or how long it will take for the bank account to be opened, the onus is on the client to liaise with the banking representative and satisfy the requirements and protocols of the bank in order to successfully open and maintain their company bank account. Please note that the client is not obliged to open their company bank account through our banking contacts, and is free to utilize their own banking accounts at any bank of their choosing.

You will NOT be able to open your company bank account in absentia – all relevant parties will need to be physically present in the UAE when meeting with the banker.

The application for bank account opening will not be accepted by the banks if the trade name of the company contains the word "Oil"

In case you are setting up a new company with corporate shareholder, a subsidiary or a branch, the original documents of the parent company will have to be submitted to DMCC and the documents will only be returned by DMCC after the trade license is issued.

If you are carrying more than 1 passport, please ensure you inform a CREATIVE ZONE representative of the same. Furthermore please note that you will be unable to travel on your 2nd passport (the one not submitted towards your visa process) whilst your visa application is in process.

If the shareholder and manager is not the same person than separate KYC’s should be provided for both.

Once you completed your change of status you will NOT be able to travel outside of the UAE until your passport has been stamped with your residency visa.

If you are currently in the country on a tourist visa, your employment visa won’t be issued in-country, you will have to exit the country and wait for your employment visa to be issued and then re-enter the country on that visa to complete your change of status.

We hold no responsibility for the issuance or delivery or delays related to Emirates ID Cards, or if the applicant is requested by the Emirates ID Card Authority to return to the ID Card center to redo the bio data procedure.

Payment for license will be calculated by DMCC portal based on the selections of the activities.

Hand written passports are no longer accepted, all passport copies submitted should be electronic/typed passports.

If you are a Shareholder and Manager on the license, you will not be required to provide for an attested degree for professional licenses.

Bank Share Capital Deposit Confirmation Letter for Subsidiary & Branch is required only if Share capital is AED 500,000 and above

DMCC does not offer an investor visa

Share Capital of 60k per shareholder should be deposited if a Managing Director visa is required



Maximum 6 directors, 1 Manager, 1 Legal Representative & 1 Secretary

Office Sharing is only allowed if the direct/ owners of the two companies are the same.

For employment visas health insurance is mandatory, DMCC recommends Insure Direct for the insurance and the cost is AED 750 for a quotation. However, the employers have the option to choose their own insurance provider.

Pre-approval of the license does not guarantee a visa.

The validity of visa is 1 year for the applicants above the age of 60.

Restricted activities: Publishing, Media Production, Advertising (Any activity requiring NMC Approval), Installations and Maintenance related work, Manpower, Financial Services, Legal Consultancy.

For Real Estate Activities - Can only be a branch of Dubai Mainland Company

Physical office is mandatory for all training activities

Infants are allowed to hold shares in the company

An undertaking must be signed for Marketing Management Activity for not practicing media related activities

The minimum office space required is 100 sq mtr as per DMCC regulations however for certain training facilities the size of office is subject to KHDA requirements

A holding company can hold 100% shares in subsidiary

Third Party Insurance is not required for companies on flexi desk package

For Lebanese & Syrian nationals – 3 months bank statements, Undertaking Letter stating they do not have other license, should they have another license a copy of that license will be required

Maximum of 6 activities allowed on 1 license

Any company document such as visa, immigration card, etc will be couriered by DMCC to the clients directly if they have a physical office, however if there is no one at the office they need to provide a justification letter stating the reason and they can then collect the documents from the counter. In case the company is on a flexi desk, they can directly collect the documents from the counter at DMCC.

Minimum space for physical office in the free zone is 500 sq ft and one visa is allowed per 100 sq ft.

Minimum space for serviced office in business centers would be approximately 100 sq ft and would depend on the availability in the business centers within DMCC. Maximum 4 visas will be allowed on serviced office in a business center.

If you are Schengen National and have exhausted the 90 day visit period granted by immigration, you need to exit and be out of the country for at least 90 days before you can re-enter the UAE with a tourist visa.

The words like "investment" and "financial" cannot be used in the trade name.

Annual Audit Report must be submitted at the end of every financial year of the company.

For setting up a Single Family Office the share capital remains minimum AED 50,000 however the family should provide proof minimum Liquid funds of USD 1 Million by providing a bank confirmation or auditor's report.

All business operations of the DMCC company has to be conducted within the free zone, that is the office location has to be within the boundaries of the zone in one of the commercial towers. The company cannot operate from outside the free zone unless conducting an event or marketing survey or any fieldwork with prior approval from the concerned field jurisdictions approval.

For the servant/maid /driver visa applications, the applicant will not be able to proceed for an in-country change of status if the maid/servant/driver is here in the UAE on a tourist visa. They will need to make an airport to airport transfer to complete their change of status.

The Ministry of Finance will not issue Tax Residency Certificates to Offshore Companies and Branches of Foreign Companies.

A DMCC company can conduct business with another Free Zone in UAE or with any overseas companies.

If the company has done no active business within the year and if the financial statements reflect the same, then a justification should be provided to DMCC authority on why there were no business transactions. The DMCC authority management will thereafter decide if the will allow the renewal of the license for another year. If the company continuous to have no business transactions, then DMCC authority will ask to voluntarily terminate the license.

If you have a requirement to indicate a share capital amount of more than AED 50,000, a bank confirmation letter is mandatory to be submitted at the registration stage for this to reflect on the Memorandum of Association.

The DMCC company can buy a property in its name after the license is issued on a flexi desk. DMCC will issue a No Objection Certificate addressed to the Land Department, If required



DMCC will allow to rent the flexi desk for a short term period for either 3 months, 6 moths or 9 months, however the flexi desk fees for the full year should be paid. When the contract is terminated DMCC will deduct the rent for the selected duration and will refund the balance. The duration of the flexi desk contract should be informed to Creative Zone at the time up signup so that proper arrangements can be made. In the event that the temporary arrangement for the flexi desk is not stated on the onset of the leasing, DMCC has the right to refuse a refund of any paid amount.

A dedicate PO Box will have to be applied if you have physical offices.

For certain business activities DMCC may request a specific undertaking from the shareholders of the company to not perform unrelated activities under the trade license.

All the documents for Stage 3 (licensing) must be submitted within 60 days from date of the Provisional Approval and Bank Letters issuance. If the documents are not submitted within this time frame, the application will be terminated. No refunds will be possible at any stage.

DMCC authority reserves the right to request any additional documents, information and amendments as deemed necessary in its sole discretion

We thank you for your interest in CREATIVE ZONE and look forward to seeing you soon.

CREATIVE ZONE