Business Setup
SRTIP Free Zone
Business Setup SRTIP Free Zone
Benefits of Business Setup SRTIP Free Zone
- Business setup in SRTIP free zone is cost effective
- Various type of licenses available
- Company formation in a fast tack pattern
- Availability of plots for business setup
- A handsome range of office spaces available
- Access to SRTIP innovation lounge
- Lease rates are one of the lowest
- Good option for female entrepreneurs because it has subsidized rates for them
- 100% foreign ownership
- 100% repatriation of profits
- 100% repatriation of capital
Steps of Company Formation in SRTIP Free Zone
Select the Package
Before you proceed, select the package of your choice. It is not mandatory but it is a good practice to make the right choice for you.
Apply Through the Portal
Apply through the online portal and select the options carefully. Attach the documents required for the registration of business. For a branch of a foreign or local company the notarized documents are needed.
Get Approval
As the case is submitted and if the documents are right and true then the approval is given within no time. For the companies who have shareholders all the documents are forwarded to them.
Apply for Visa
Once the registration process is complete, apply for the visa to enter the country and hold the operations of the business effectively. It is not mandatory for all because those business owners who want to run the company from outside of the UAE do not need any visa.
Open the Bank Account
The bank account is mandatory to run the business. The bank account can be opened into an accredited bank of the SRTIP zone.
License Types Available in SRTIP
Unlike Business Setup in Dubai, the business setup in SRTIP Free Zone has many options for business licenses which are under:
Industrial License
The investors who want to run an industry to manufacture, process or packaging must get the industrial license. This is because of the fact that only after getting such a license can you opt for the industrial plot in the zone.
Services License
A services license is good for all the businesses who are into the services and consultancy. Such a license is also mandatory to open up the bank in the SRTIP free zone.
Trading License
A trading license is good for the wholesalers and distributors in general trading. It is also required for the companies who want to run the business as exporters, re-exports and importers as well.
Office Spaces Availibility in SRTIP
SRTIP offers the option of business setup with office spaces. The available office space is as under:
First Step Hi-Tech Office
It is an office for startup businesses who are into the business for the last 3 years or less.
Maktabi (Co-Working Space)
It is an option which offers three desks with free internet and parking options.
SME Office
It is an office option which has an area of 20-27 sqm and it is fully furnished.
Ecosystem Office
It is an option with 50 to 80 sqm area and you are eligible for more than 10 visas.
Innovation Office
In this office option a business can get the open area space at SRTIP headquarter and rates are calculated as per the sqm.
Innovation Plot
The zone offers the plots for offices at a sqm rate.
Documents Required for company formation in SRTIP free zone
The Documents required for company formation in SRTIP free zone are as follows:
- Passport Copy (individual and shareholder)
- Visa Copy (if on a visit visa)
- Residence Visa/ Emirates ID (if already working or residing in the UAE)
- Address proof of shareholders and managers
- Passport size photo of shareholders and managers
- Memorandum of Association (for corporate shareholders)
- Article of Association (for corporate shareholders)
- Trade License (for corporate shareholders)
- Board Resolution (for corporate shareholders)
- Certificate of Incorporation (for corporate shareholders)