Steps to start your business
Establishing a settlement in free zone is comparatively simple:
- determine the type of legal person
- choose the trade name
- apply for a commercial license
A) In a free zone, two types of companies can be established:
- Free zone limited liability company (FZ LLC) or Free zone Company (FZ Co.)
- Free zone establishment (FZE)
The minimum capital required for the establishment of the company depends on the free zone chosen and the type of business that will be conducted. This operation will be conducted together with one of our consultants who will choose the most suitable system for you.
B) Choose the trade name
In most cases it is necessary to check the permitted trade names with the respective free zone authority and check whether the chosen name has already been registered
In general, for the proposed trade name to be approved, the key requirements must be as follows:
- must not violate public morality or public order
- must not have been previously registered
- must be compatible with the type of business and legal status required
- must not contain names of religions or governmental authorities or names or logos of external organizations
C) Apply for commercial license
To establish a business in free zone, you need to apply for a license. Basically these are of four types:
- commercial
- industrial
- of services
- national industry
If a company wants to practice more activities, it will have to apply for a license for each category of activity.
Licenses are mainly of three types:
- commercial
- industrial
- of services