Setting Up Business in UAE While Managing a Job

Posted on 05^th, Sep 18

You have found a pain point to solve and arrived at a great business idea. Every entrepreneur’s beginning is different and yours could be at a stage where you cannot afford to quit your job to become one. But the good news is you could set up a business in Dubai or UAE while managing your job too.

UAE offers a unique and highly desirable proposition for entrepreneurs. The free trade zones offer benefits such as state-of-the-art infrastructure, tax exemption, strategic location, ease of documentation and much more. The following are a list of free zones in UAE.

List of free zones

Dubai

Free Zones in Dubai

• Dubai Airport Free Zone
• Dubai Cars and Automotive Zone
• Dubai Design District
• Dubai Flower Centre
• Dubai Gold and Diamond Park
• Dubai Healthcare City
• Dubai Industrial City
• Dubai International Academic City
• Dubai International Financial Centre
• Dubai Internet City
• Dubai Knowledge Park
• Dubai Logistics City
• Dubai Maritime City Authority
• Dubai Media City
• Dubai Multi Commodities Centre
• Dubai Outsource Zone
• Dubai Science Park
• Dubai Silicon Oasis
• Dubai Studio City
• Dubai Techno Park (New name: National Industries Complex)
• Dubai Textile City
• Energy and Environment Park
• Jebel Ali Free Zone Authority
• Jumeirah Lakes Towers Free Zone

Abu Dhabi

Free Zones in Abu Dhabi

• Abu Dhabi Global Market
• Abu Dhabi Ports Company
• Higher corporation for specialized economic zones/ ZonesCorp
• Industrial City of Abu Dhabi
• Masdar City
• TwoFour54

Sharjah

Free Zones in Sharjah

• Hamriya Free Zone Authority
• Sharjah Airport Free Zone Authority
• USA Regional Trade Center Free Zone

Fujairah

Free Zones in Fujairah

• Creative City Fujairah
• Fujairah Free Zone Authority

Ras Al Khaimah

Free Zones in Ras Al Khaimah

• RAK Investment Authority Free Zone
• RAK Maritime City
• Ras Al Khaimah Free Trade Zone
• Ras Al Khaimah Media Free Zone

Ajman and Umm Al Quwain

These emirates have one free zone authority each; Ajman Free Zone Authority and Umm Al Quwain Free Zone Authority

Setting your business in UAE:

To start a company in UAE, at least one local partner should be included. UAE law allows working professionals to set up their own business in UAE by obtaining a No Objection Certificate (NOC) from their employer. Obtaining a NOC allows you to set up your business in any part of UAE.

Procedure to get an NOC to set up a business in UAE

1. Apply for NOC through Dubai Trade Portal
2. Submit the necessary documents

• Passport copies of all partners
• A copy of company’s name reservation
• Copy of MOA(Memorandum of Association) and Articles of Association(AOA)
• Bank or cash guarantee
• Undertaking letter signed by the partner who is an UAE nationale

3. Pay the required fee

Once your request is approved, you will get a NOC approval from Department of Economic Development and stored in the current employer’s record.

Most companies are reluctant to issue a NOC to their employee. In such a case, you have the option of NOC free zones for company formation in UAE. There are 5 NOC free zones in UAE and they are

• Creative City Fujairah
• Fujairah Free Zone Authority
• Sharjah Media City Free Zone
• Umm al-Quwain Free Trade Zone
• Ajman Free Zone

If you are in Dubai with your family and your life partner is on spouse’s visa, you can start a business in UAE in her/his name appointing her/him as a partner cum managing director.

Socprollect helps start-ups to Setting Up Business In Dubai and established businesses extend an arm in UAE. Our team of experts can guide you through the process right from the visa process to stabilizing your business. In case of any assistance, reach out to us at jak@socprollect-mea.com