International Humanitarian City (IHC) was established in 2003. Since then, it became the world’s largest and busiest place for humanitarian aid. There are currently nine UN agencies, 50 nonprofit organizations (NGO), and commercial entities that are members. IHC is for aiding the people suffering from poverty. It is designed to reach out to the victims of crises.
Being a Dubai free zone authority, it can issue a license to the following: branches of international nonprofit organizations and commercial companies, subsidiaries of commercial companies, and new commercial companies.
Business setup in Dubai International Humanitarian City, like any other business setup in Dubai free zones, has its own orderly procedures to ensure a proper way of execution. Business owners are expected to adhere to this process as it is one way of being sure that your business setup company in Dubai will be finished in the right timeframe so you can start on when you have planned.
It might be simply for others, but business setup in Dubai should not be taken lightly. For this reason, certain people are there to help you on this kind of matter. They are the business setup consultants in Dubai who are willing to lend their hands to help. They are the same people who have made freezone company formation successful everytime.
With the business consultants in Dubai on your side, you can obtain the information that you need to know to weigh things regarding how to open a company in Dubai free zone. You can be financially prepared with the amount that you will have to incur for the first step of starting a business when you have the estimations of the Dubai freezone company setup cost and Dubai free zone license cost. This information can help you calculate how much you would need. To add to those estimations, having an idea about Dubai free zone company registration fees aids you even more in having a close approximation of the amount that you would need to prepare. This can be filed in your accounts as you use this as your guide on the cost that is projected to be made in the first half or the first year of your operation.
Although the company formation consultants in Dubai are available to provide you the answers to your questions about Dubai free zone company formation cost or the documents required for trade license renewal in Dubai as a future reference, this does not comprise their entire purpose. To be able to help you lighten your load, or have none at all, when it comes to handling your business setup in Dubai free zones.
Therefore, one must choose their team meticulously to ensure that there is quality in the service. With this, your free zone company setup can be done in no time at all.
The UAE is conducive to investment and business expansion. This is why business setup in Dubai free zones is notable in the country. There are a lot of locations that investors can choose from where their organization can flourish. With this, business owners who are interested in humanitarian aid, IHC is the right place to setup a non-profit organization or humanitarian-related commercial companies.
The solutions, amenities, and facilities that IHC has can definitely help these organizations to function at its best. The Dubai free zone benefits also add to the conduciveness that this zone has.
100% foreign ownership
This is one of the biggest advantages of the Dubai freezone companies. They are given 100% ownership of their own business. This is opposite to forming a company in the mainlands of the UAE wherein a local sponsor is needed to be obtained first before one can carry out a business formation in Dubai. This local sponsor will even get to have 51% of the company’s shares.
It is conveniently located at the crossroad between East, West, North, and South. With this, it can swiftly respond to disaster call. The flight time to major crisis-prone areas is 7 hours. It also has a capability of 10-minute sea-to-air logistics.
Some people perceive the implementation of value-added tax (VAT) being applied to some goods and services as quite negative as it adds to the financial burden. But there is still a bright side wherein corporate and income taxes are not required to be paid to the government. Many investors find this as a huge advantage as it is the kind of tax exemption that most of them are looking for.
Dubai freezone companies in IHC enjoy the above-mentioned benefits and also the ones that are mentioned below:
- 100% repatriation of capital and profits
- 100% free transfer of funds
- 100% exemption from import and export duties
Before going forth in forming a company, the business activities that are allowed to be conducted in the chosen location should be checked first. In IHC, nonprofit organizations and commercial companies are brought together for humanitarian purposes.
- United Nations agencies
- Specialized agencies
- Non-governmental organizations
- News, research, and educational institutions
- Manufacturers and suppliers of aid-related goods and services
- Service providers
For more than 30 years, FAR Consulting Middle East has been providing business setup services in Dubai and all over the UAE. We have all the precise information that you are looking for with regard to business setup. One of the information that we can provide is the estimated Dubai free zone company registration fees so that you can be prepared with the amount needed.
Being your company formation consultants in Dubai, we can do the services below for you for your free zone company registration Dubai:
- Applying and following up on behalf of the client until the collection of the Certificate of Business Registration (Trade License)
- Representing the client in front of the authorities
- Assisting the client in bank account opening
- Assisting the client in account opening with the Ministry of Labour
- Assisting the client in account opening with the UAE immigration
- Assisting the client in leasing a premise as an address for the business
The procedure of processing your business setup in business setup in Dubai International Humanitarian City will range from 2 to 4 weeks.
Documents Required for Dubai International Humanitarian City Company Registration
- Passport copies of the shareholders
- Passport copies and CV (resume) of the manager
- Personal information sheet of each shareholder and manager (template will be forwarded by Farhat Office & Co.)
- Proof of trade name reservation (part of the process—task of Farhat Office & Co.)
- Proof of initial approval for the activities (part of the process— task of Farhat Office & Co.
- Notarized Memorandum of Association (MOA), Article of Association (AOA) (Farhat Office & Co. will draft it for you and will assist you in order to get them notarized by a local notary public); in case the shareholders cannot appear in front of the local notary, they can appoint us (Farhat Office & Co.) as a legal representative so that we will be able to act on their behalf
- Notarized and attested Power of Attorney appointing Farhat Office & Co. as your legal representative so that they can act on your behalf/on behalf of the shareholders (template will be forwarded by Farhat Office & Co).
- Lease agreement (a document) showing a physical address for your new business—Having a physical address is mandatory for onshore business in the UAE. The minimum space required is 550 sq. ft. (around 60 sq. m). Your registration agent Farhat Office & Co. can assist you while searching for your physical address. Clients should not enter into any lease contract before we get the initially required approvals.
- Capital—we suggest a minimum authorized capital of AED 150,000 (USD 41,000 approximately). The capital structure is as follows: 51% to be registered for the name of the local citizen “partner” and 49% to be registered with the foreign partners. This formula can be changed by the Ministry of Economy upon the request of the investors, and the Ministry will look into the matter. The Ministry will assess and evaluate, and they will agree in case the business/the project will add material value to the state/country’s economy. Depositing/paying the authorized capital is not mandatory in most cases.
Additional Requirement Applicable to Corporate Shareholders (Legal Person)
- Board resolution to be resolute by the board of directors of your existing company/entity at the place of origin, expressing their intent for establishing a new setup abroad—it must be attested by the UAE Embassy (template will be forwarded by Farhat Office & Co.).
- Certificate of registration or business license or certificate of incorporation of your existing company/entity at the place of origin—it must be attested by the UAE Embassy.
- Memorandum of Association (MOA) of your existing company/entity at the place of origin—it must be attested by the UAE Embassy.
- Article of Association (AOA) (if any) of your existing company/entity at the place of origin—it must be attested and notarized by the UAE Embassy.
- There are cases that a concerned party may require documents and other requirements
- In some business activities, such as health care, law firm, education training, transportation, construction and contracting, engineering consulting, etc., no objection and permission will be required as mandatory requirements. If your business requires such pre-approvals and/or permissions, there will be an additional cost and additional professional fee for Farhat Office & Co.
Dubai International Humanitarian City Company Formation Cost:
The below table shows the estimated Dubai freezone company setup cost in Dubai International Humanitarian City, which also includes the Dubai free zone license cost. If need be, you can contact us for further clarification and information.
|Dubai Free Zone Company Formation Cost – Dubai International Humanitarian City|
Table of Estimated Government Cost and Professional Fees
|Trade License Option/Activity||Cost in USD||Cost in AED|
|Industrial License||USD 2,570||AED 9,375|
|Specific Trading||USD 2,570||AED 9,375|
|Oil & Gas||USD 3,425||AED 12,500|
|Real Estate||USD 5,135||AED 18,750|
|Aviation||USD 5,135||AED 18,750|
|General Trading License||USD 5,135||AED 18,750|
|Specific Services||USD 2,570||AED 9,375|
|Oil & Gas||USD 3,425||AED 12,500|
|Freight Forwarding||USD 2,910||AED 10,625|
|Real Estate||USD 5,135||AED 18,750|
|Aviation||USD 5,135||AED 18,750|
|Our Firm’s Professional Fees||USD 5,000||AED 18,365|
ATTENTION – NOTE