As you seek to find the right Dubai Free Zone to serve as your basis for doing business in the UAE, there are many pieces of criteria to consider as you choose the jurisdiction that meets your needs. What are the benefits of using KIKLABB as your Free Zone base? We have all the details.
But first, what is the KIKLABB Free Zone in Dubai, UAE?
KIKLABB is a government-run Free Zone on the Mina Rashid waterfront that is a partnership of several public authorities with Tasawar Ulhaq at the helm as CEO. What government entities are part of the Free Zone? The Dubai Government, the Ports, Customs and Free Zone Corporation (PCFC), the Department of Planning and Development – Trakhees and the QE2. What does the QE2 have to do with a Free Zone, you might ask? KIKLABB’s head office is on the QE2’s Quarter Deck in the Mina Rashid Port, offering a clear differentiator from other Free Zones in Dubai.
This collection of people and entities aims to guide all its clients through the straightforward process of setting up an enterprise in the UAE through KIKLABB licencing solutions that best meet your enterprise needs. What are the trade licence options available to you? That’s precisely one of the things that make KIKLABB stand out from peer Free Zones.
Types of KIKLABB Licences
KIKLABB has the advantage of offering both Mainland and Free Zone options for those looking to pursue them. What does that mean for you? KIKLABB issues both onshore (Mainland) and Free Zone licences. A Mainland corporate structure grants you the ability to do business in the UAE and abroad, while Free Zone companies most often cannot operate within onshore Emirati territory. If you know that you want to trade in Dubai and the other Emirates, a Mainland company makes the most sense.
So, suppose you would like a Mainland company. If you’re interested in an onshore DED licence, there are three corporate structures you can choose from:
Sole Establishment
Limited Liability Company for a Single Owner (LLC-SO)
Limited Liability Company
Now, say you would like to establish a Free Zone company instead. How does that work? One of the quirks stemming from Free Zone companies is having to apply for an activity licence. That’s why knowing exactly what you want to do is so crucial because if you apply for the wrong licence, you may have to liquidate and switch over to a new Free Zone. In the case of KIKLABB, there is more flexibility rather than traditional Free Zones that cater to a specific industry.
For your new business, branch office or a local business, KIKLABB offers over 2,000 activities that cover a wide array of sectors. The licence classes for these activities are:
Commercial: This licence class covers trading services and goods.
Professional Services: This licence class covers all professional services.
E-Commerce: This licence class encompasses the trade of goods and services over the internet.
Trading: This licence covers the exchange of one type of good.
Investment: This licence class is for those seeking to form investment holding companies or provide investment services.
General Trading: This licence class covers trading multiple goods.
Some activities may have to go through different regulatory procedures for approval. Still, KIKLABB will guide you through that process should your intended operations have to jump through these additional hurdles.
Cost of KIKLABB Licence
So, how much does a KIKLABB company contract and licence cost? A KIKLABB licence starts at 18,850 AED (£3,8650.58 at the time of writing this article. We recommend checking an updated conversion to British pounds or your preferred currency). You will receive the following documents along with your trade licence in a KIKLABB Free Zone package:
Memorandum of Association
Board Resolution
Banking Letter
Lease Agreement for Banking
Establishment Card
Allocation for Visas
Workmen Compensation Insurance
What are the benefits of KIKLABB company setup?
The perks of Free Zone company formation at KIKLABB are not limited to a company with zero corporate obligations that allow for 100% foreign ownership of the entity. All Free Zone companies created at KIKLABB can have up to five shareholders. Each licence covers up to five activities in the same category, allowing for more flexibility regarding the regulatory processes and gaining approvals. What else do you get from KIKLABB?
One of the standout features of KIKLABB is the workspaces on offer. KIKLABB has a unique coworking space for members and high-tech office options as well, along with flexibility in your office arrangements. Members can access a wealth of amenities within the office packages for a high degree of comfort while you work aboard the QE2.
It’s not just state-of-the-art facilities. The Free Zone’s privileged location, apart from being on the QE2, grants you access to the port and warehouse space should you need it, allowing for improved logistics for entities requiring it to store and transport goods. And best of all, you can access no-obligation consultations as you need them, granting you the ability to make insightful decisions for your enterprise’s success. You also will not have any annual audit requirements and expert assistance throughout the entire company formation process.
Are you ready to apply for your KIKLABB trade licence?
If you’re interested in the entire virtual process to acquire your KIKLABB trade licence, our team of Free Zone experts at Europe Emirates Group will guide you through the whole process. We will ensure you find the appropriate licence class and activities that best meet your business needs as your company takes advantage of a prestigious location on the QE2. Would you like to get started? Contact us today.
Written by
Adrian Oton
CEO, Europe Emirates Group
