At this point of time, honestly, we are running out of words to describe Dubai! However, it’s safe to say that everyone agrees that Dubai is the “land of opportunities.” Indeed, but when we discuss opportunities, you might question what kind of opportunities we’re talking about. And what if we told you that there are countless opportunities?
Indeed, over the years, Dubai has been the city that both saved and changed lives. Thus, a business setup in Dubai is unquestionably the best method to succeed.
In this article the prominent business setup consultants Best Solution gives you a step-by-step guide to know how to set up a media company in Dubai.
Choose the Right Media Free Zone
There are many major media free zones in the UAE: Sharjah Media City (SHAMS), Dubai Media City (DMC) and Dubai Production City (DPC). Additionally, Best Solution will help you find the right free zone for your media company.
Let’s break it down, the following are the designated free zones for media companies in Dubai:
Sharjah Media City: Aka Shams is another one of the special free zones for media companies in the United Arab Emirates. And meanwhile it offers 100% foreign ownership, No corporate or personal tax. With Best Solution, a company setup at Shams is quite easy!
Dubai Production City: Tailored for film, television, and music production, DPC provides top-notch facilities like studios, production equipment, and post-production facilities.
Dubai Knowledge Park: DKP is essentially a free zone for businesses operating in the knowledge and education sectors.
Dubai South: Dubai South is a free zone that offers a variety of benefits to media companies.
Dubai Media City (DMC): Generally, offers a range of benefits like tax exemptions, repatriation of profits, and access to a skilled media workforce.
Define Your Media Company’s Activities
Before diving in, clearly outline the specific media activities your company will undertake. Make sure they align with the regulations of your chosen free zone. This is indeed essential for the company formation in dubai.
Check Eligibility Criteria
Now, let’s make sure you’re eligible to set up shop. This usually involves having a valid passport, a solid business plan, and the required share capital.
Obtain Initial Approval: Submit your application to the relevant free zone authority along with necessary documents, including a company registration form, passport copies, and a detailed business plan.
Select a Legal Structure
You should find out the most suitable legal structure for company formation in Dubai.
Time to decide on the legal structure that suits your venture – whether it’s an LLC, a Free Zone Limited Liability Company (FZ-LLC), a sole proprietorship, or a branch of an existing foreign company. Each comes with its own legal and tax implications, and everyone at Best Solution is here to guide you.
So What are the Required documents?
Application form: Complete and submit the official DMC business setup application form.
Passport copies: Provide copies of passports for all company shareholders, directors, and managers.
Visa copies: Submit copies of any applicable visas held by company representatives.
Memorandum of Association (MoA) and Articles of Association (AoA): Draft and notarize these documents, outlining the company’s structure, objectives, and governance rules.
Board resolution: Provide a board resolution authorizing the company’s formation and appointing directors and managers.
No Objection Certificate (NOC): If you have a residency visa sponsor, obtain an NOC from them confirming your eligibility to establish a business in Dubai.
Proof of share capital: Demonstrate the availability of the required share capital for your chosen business activity. Meanwhile, this may involve bank statements or deposit receipts.
Manager’s specimen signature: Provide a specimen signature of the company’s manager or authorized representative.
Lease agreement: If you have secured office space in DMC, submit a copy of the signed lease agreement.
Deposit Share Capital
Before moving forward, deposit the minimum share capital stipulated by the free zone – AED 50,000 for DMC and AED 15,000 for DPC.
Obtain Additional Permits
Depending on your media activities, you might need additional permits, like broadcasting licenses or film production permits.
Hire Employees
Time to build your dream team! Recruit the necessary staff to operate your media company effectively.
Open a Corporate Bank Account
Sort out your business finances by opening a corporate bank account. Choose a reputable bank and provide the required documents, including your trade license, certificate of incorporation, and passport copies of directors and shareholders. Best Solution will be there to assist you every step of the way.
Collect License and Certificate of Incorporation
Once approved, you’ll receive your business license Dubai through Best Solution, along with guidance on payment procedures for license fees. Collect your trade license and certificate of incorporation, marking the official start of your media company in Dubai. Anyway, keep in mind that a business license in Dubai is truly an achievement.
Why Choose the Best Solution?
When it comes to setting up and growing your business in Dubai, Best Solution is your go-to partner. Ideally the best Business setup consultants in Dubai. Not only do we assist with company setup, but also provide guidance and services tailored to your specific needs. With Best Solution, you’ve got a supportive partner at every turn.
Embark on your journey to success in the dynamic world of Dubai’s media industry with confidence. Dream about a media company set up in Dubai. Best Solution has got your back!
