In one of the previous articles we’ve already said about the advantages of doing business in the free zone SAIF ZONE. Let’s talk on the issue what types of companies it is possible to register here.
- FZE (Free Zone Establishment) is an individual limited liability company created by one individual or legal entity.
- FZC (Free Zone Company) is a limited liability company created by two or more persons.
- Branch of a company registered in the UAE.
- Branch of a foreign company established outside the UAE.
What types of licenses are available:
- Trade License.
- Commercial license. It allows import, export, distribution, storage of the groups of goods specified in the license. The maximum limit is three similar product groups.
- The general trade license. A general marketing license can be obtained under the Commercial License. At the same time, it does not have a limit on the number of commodity groups.
- Service license. It allows the company to provide services specified in the license (allowed only in the SAIF ZONE).
- Production license. It allows the import of raw materials, production, processing, assembly, packaging and export of finished products.
The SAIF ZONE has introduced environmental impact assessment (EIA) standards in addition to safety measures aimed at combating pollution, for example, with air pollution, noise, etc.
In observance of standards in the areas of environmental protection and public health, it is permitted, for example, to open pharmaceutical factories.
Natural and artificial dyes can be imported into the zone. However, the import of chemical compounds containing radioactive substances is not allowed.
About authorized capital
When registering FZE or FZC, the company’s minimum authorized capital is 150,000 dirhams (41,000 USD). In case of opening a branch of a foreign or local company, there is no minimum capital requirement. The authorized capital is declared, but the payment of the authorized capital is not required.
The maximum number of employees depends on the type and size of the company’s business.
The zone SAIF ZONE can provide for hiring additional workers, messengers and technical specialists.
It should be noted, that when hiring employees, the company must arrange for them a resident UAE visa.