Business setup in Hamriyah Free Zone

Company formation in Hamriyah Free Zone

Branch of a Local / International company

Basically, whether the branch is of a local company or of an international company, no capital is required to be deposited with the bank. The following documents should be provided.

Local Company	International Company
License or Certificate of Commercial Registration from the Economic Department. (Notarized copy)	Certificate of Incorporation/Good-standing (Notarized copy)
Memorandum and Articles of Association of the company. (Notarized copy)	Memorandum and Articles of Association of the company (Notarized copy)
Board Resolution for opening a branch in Hamriyah Free Zone and to appoint the manager for the Free Zone operations (Notarized copy) with his passport copy and Power of Attorney.	Board Resolution for opening a branch in Hamriyah Free Zone and to appoint the manager for the Free Zone operations (Notarized copy) with his passport copy and Power of Attorney.
Bank’s reference letter regarding creditworthiness of the company (Original).	Bank’s reference letter regarding

Important aspects of an FZE 

Ø  An FZE / FZC will be a limited liability entity.

Ø  Not only natural persons but juristic persons like Companies can also incorporate FZE/FZCs in Hamriyah Free Zone.

Ø  FZE / FZC’s like branches of local or foreign companies will have to get a Free Zone License after incorporation/Registration.

Ø  An FZE will be sole shareholder company. An FZC will be multi Shareholder Company with 2 to 5 shareholders.

Ø  No share may be transferred without prior written approval of HFZA.

Ø  The Financial Years shall be from January to December each year, except the commencement of the first year which shall be the date of Incorporation.

Minimum Legal Requirements

Ø  Free Zone Establishments (FZE) / Free Zone Company (FZC) should abide by the FZE / FZC Implementing Rules and Regulations. FZE Implementing Rules and Regulations are equivalent to its Memorandum and Articles of Association where as FZC Implementing Rules and Regulations are equivalent to its Articles of Association.

Ø  FZE/FZE should submit its audited financial statements to Hamriyah Free Zone Authority every year within 3 months from the end of the financial year.

Ø  There should be at least 2 Directors and a Secretary for FZE / FZC's.

Ø  If a foreign national is to be appointed as a Director or Secretary, HFZA may require that such persons hold valid residence and work permit from the relevant authorities.

Ø  At least one of the Directors and the Secretary must be residents.

Ø  The offices of Director and Secretary may be held jointly by a single person.

License types

The type of License that will be issued to an applicant company will be defined by the activity the applicant company is permitted by the Hamriyah Free Zone to undertake as follows:

1. Industrial License

This license will allow the holder to import raw materials for the purpose of manufacturing, processing and/or assembly of specified products. The finished products may be exported outside the UAE. If the finished products are sold in the UAE market then the License holder will need to do this through a local distributor or a local agent.

2. Commercial License

This license will allow the holder to import, export, sell, distribute and store items specified on the license. If the finished products are sold in the UAE market then the License holder will need to do this through a local distributor or a local agent.

3. Service License

This license allows the holder to carry out the services which are specified on the license within the Hamriyah Free Zone only.

Should you require more clarification or assistance to start your business in Hamriyah Free zone please feel free to contact me on rupeshpr@hotmail.com or call me on 00971-553660266