Business setup in KIKLABB Freezone | Documents required
KIKLABB, a newly launched Dubai government-owned endeavor issues as well as processes trade license and visas, and gives adaptable workspace choices tailored to meet the needs of every business. Customers get access to external resources including insurance and banking through KIKLABB’s network of partnerships.
The most usual selections of business people are starting sole proprietorships, corporations, partnerships, or LLCs (limited liability companies). The task is to understand each single legal structure, how it works, and then choose the one, which best addresses as well as meets the requirements and needs of the business to be set up.
- Approved company name
- Minimum one company director
- One shareholder or guarantor
- And a registered address
Various Types of Legal Structures for Businesses in Kiklabb Free Zone.
| Type of entity | Advantages | Disadvantages |
| Corporation | Owners have limited liability for debts of the business; Fringe advantages might be deducted as expenses of the corporation; Owners can split the profits of the business among owners and corporations. | Paperwork can be viewed as difficult for certain entrepreneurs; It is more expensive to make in contrast with a sole proprietorship or partnership. |
| General Partnership | It is simple as well as cheap for owners to maintain and establish; Partners or owners share the profit and loss of the business. | Partners or owners are liable personally for the debts of the business. |
| Limited Partnership | Limited partners are limited in terms of the personal liability they have on business debts because they are not participating activity towards the management of the business; The general partners can raise cash even without including outside investors for the business management. | Limited partners are liable personally for the debts of the business; Limited partnership is suited for an organization that is investing in real estate; It is costly to set up contrasted with a general partnership. |
| Sole Proprietorship | Easy and cheap with operating and creating in Dubai KIKLABB Free Zone | The business owner is liable for all debts of the business. |
| Limited Liability Company | Owners have limited liability for debts of the business when they are taking part in the management; Profit and loss might be allocated in a different way to ownership interests. | It is expensive to make a contrast with a sole partner or proprietorship. |
| Limited Liability Partnership | Mainly of interest for partners with old-line professions for example law, medicine, and accounting; Owners or partners are not liable personally for malpractice of the other partners or owners. | Dissimilar to a Limited Liability Company, the owners or partners are personally liable with the various obligations of the business to lenders, landlords, and creditors. |
What type of Business?
- Professional Services
- Commercial Services
- General Trading
How many visas?
Getting a visa has never been smooth, and KIKLABB offers a range of visa amounts. However, keep in mind that between 6-10 visas require a larger office space, not a flexi desk.
What type of workspace?
License
- Colored passport copy must be valid with 6 months
- Visa, entry stamp or cancellation page
- If the customer does not require a visa, NOC (No objection certificate) from an existing sponsor on company letterhead, signed as well as stamped by manager-in-charge must be provided
Visa
- Colored passport copy must be valid with 6 months
- Passport size picture must be with a white background
- Visa, entry stamp or cancellation page
- Valid establishment card copy
- National ID (Identity Document) from home country for Pakistani, Afghani, Irani and Iraqi nationalities
- Attested medical report for Ethiopian, Sri Lanka, and Indonesian nationalities
- Attested education certificate for customers with the title of Manager, Director, Doctor, Engineer, and Accountant as well as any Irani nationalities
Bank Account
- Trade license
- Certificate of Incorporation
- Share Certificate
- Memorandum & Articles of Association (MOA/AOA)
- Board Resolution
- Passport copy of all Ultimate Beneficiaries (UBO) – one UBO should be available to meet with the bank
- Organizational Structure of the company on official letterhead
- Lease Agreement
- The Signatory must sign passport copies for owner and shareholders (only the signatory is required to show original passport
- Visa copies of all Shareholders, Partners, and Signatories
- Owner’s Resume/CV (mandatory)
- Proof of Address (DEWA Bill, Tenancy Contract). Alternatively, if the client is a new resident, a Declaration Letter from a relative can be provided
- Business Model of the company, detailing cash flow
- Registered address, website, and line of business along with invoices,
- Agreements, CV’s and company stamp for 3 suppliers and 3 clients
However, our years of experience in business setup in the whole UAE will assuredly make this journey of setting up your business in UAE completely stress-free! MSZ corporate services provider will assist you in setup your business in KIKLABB freezone and ensure that you get the best service. Click Here to Contact MSZ or Email to info@msz.ae.