HomeCatalogOther Financial Service Activities, Except Insurance and Pension Funding Activities

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Meydan Free Zone logo
Company setup in Meydan, Dubai
State dutyloading
Terms days
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This company can engage in various financial service activities except insurance and pension funding, including financial leasing where the term approximately covers the expected life of the asset, and other credit granting activities primarily concerned with making loans by institutions not involved in monetary intermediation. The activity can also include e-finance, financing operations, and other financial service activities primarily concerned with distributing funds other than by making loans; own-account investment activities by venture capital companies, investment clubs, also investing in and managing commercial, industrial, agricultural, tourist, energy, health, educational, sport, water, retail trade enterprises, and in oil & natural gas projects, along with real estate development and general investments management and operation.

About the company's activities

Types of activities

For setup of a company in Meydan Free Zone in the field of other financial service activities, except insurance and pension funding activities, the following group of business activity has been chosen:

  • Other Financial Service Activities, Except Insurance And Pension Funding Activities (group 649):
    • 6490,00 - Other Financial Service Activities, Except Insurance And Pension Funding Activities;
    • 6491,00 - Financial Leasing;
    • 6491,01 - Leasing Where The Term Approximately Covers The Expected Life Of The Asset;
    • 6492,00 - Other Credit Granting;
    • 6492,01 - Financial Service Activities Primarily Concerned With Making Loans By Institutions Not Involved In Monetary Intermediation;
    • 6492,98 - E-Finance;
    • 6492,99 - Financing Operations;
    • 6499,00 - Other Financial Service Activities, Except Insurance And Pension Funding Activities, N.E.C.;
    • 6499,01 - Other Financial Service Activities Primarily Concerned With Distributing Funds Other Than By Making Loans;
    • 6499,02 - Own-Account Investment Activities, Such As By Venture Capital Companies, Investment Clubs Etc.;
    • 6499,84 - Investment In Commercial Enterprises & Management;
    • 6499,85 - Investment In Industrial Enterprises & Management; 
    • 6499,86 - Investment In Agricultural Enterprises & Management;
    • 6499,88 - Investment In Tourist Enterprises & Management; 
    • 6499,89 - Investment In Energy Enterprises & Management;
    • 6499,90 - Investment In Health Enterprises & Development; 
    • 6499,91 - Investment In Educational Enterprises & Management;
    • 6499,92 - Investment In Sport Enterprises & Management; 
    • 6499,93 - Investment Management;
    • 6499,94 - Investment In Water Enterprises & Development; 
    • 6499,95 - Investment In Retail Trade Enterprises & Management;
    • 6499,96 - Forfaiting Services; 
    • 6499,97 - Investment In Oil & Natural Gas Projects;
    • 6499,98 - Real Estate Development;
    • 6499,99 - General Investments Management & Operation.

The company can choose up to three groups of business activities under one license without additional fees.

Additional External Regulator Approvals

No additional approval is required in order to complete the registration process of the company conducting this group of business activities.

Choosing only one business activity (6491,00), (6491,01), (6492,00), (6492,01), (6492,98), (6492,99) requires an additional permit from Central Bank of the UAE (CB), (6499,93) from Securities and Commodities Authority (SCA), (6499,98) from Dubai Real Estate Regulatory Agency (RERA).

Share Capital Requirements

There is no minimum share capital requirement for Meydan FZ companies.
If the shareholder plans to obtain an investor visa, the shareholder's share in the share capital should be at least AED 50,000.

Company name requirments
  • May contain the name of a shareholder
  • Must not violate the country laws or contain words that are obscene, indecent or generally offensive
  • Must not contain the names of Allah, Buddha or God, or any other religious terminology
  • Must not be identical or similar to local/global brands or registered trademarks
  • Must not contain geographical names, such as the names of emirates, cities, countries and other landmarks
  • Must not contain the names of local/international religious, political or governmental organizations
  • Must not be identical to the names of multinational companies (companies with a website and branches in at least two other countries)
  • Must correspond to the company’s business activities
Bank Account

Entrepreneurs can open corporate accounts in traditional banks with physical branches, as well as in digital banks and payment systems.

When choosing a bank to open a corporate account, consider the following: service level, fees, available currencies, online banking performance, bank reputation, as well as other conditions that may be important for your business.

Successfully opening a corporate bank account requires a well-prepared documentation package, which may vary depending on the specific requirements of each bank. Documents submitted incorrectly or incompletely may negatively affect the bank's final decision in processing the application.

About Jurisdiction

Name and Description
  • Title: Meydan Free Zone
  • Description:

    Meydan Free Zone is a free economic zone (free zone) established in 2009 in the Emirate of Dubai, UAE. Designed to support and foster the growth of companies in trade, technology, and consulting, Meydan Free Zone offers a modern and innovative environment for entrepreneurs, startups, and international businesses.

    The free zone provides a unique business ecosystem with state-of-the-art infrastructure, including fully equipped offices, coworking spaces, and meeting facilities. Meydan Free Zone supports companies across various sectors, such as e-commerce, consulting, finance, logistics, creative industries, and technology, ensuring optimal conditions for growth and expansion. Businesses registered in Meydan Free Zone are permitted to operate both within the free zone and beyond the UAE.

    Meydan Free Zone issues the following types of business licenses:

    • Commercial (wholesale and retail trade)
    • Professional (service provision)
    • Media

    With its strategic location in the heart of Dubai and access to key transportation networks, Meydan Free Zone has become an attractive choice for businesses focused on growth and global outreach. Its modern facilities, support for startups, and opportunities for expansion provide the ideal foundation for success in one of the world's leading business hubs.

Tax regime and income management

  • The UAE has several taxes and fees that regulate the financial activities of both legal entities and individuals. Below are the main ones.

    1. Value Added Tax (VAT)

      • Since January 1, 2018, the UAE has implemented a VAT rate of 5%, which applies to most goods and services and is charged to companies operating within the country, except for those registered in designated zones.

      • A Designated Zone is a territory within a free zone that is treated as outside the UAE for tax purposes, allowing goods to be exempt from taxation, provided certain criteria are met. The main taxation rules in Designated Zones are as follows:

        • The Designated Zones are listed in the Cabinet Decision to Federal Decree-Law No. (8) of 2017 on Value Added Tax (VAT).

        • Goods moved between or within Designated Zones are not subject to tax.

        • The export and import of goods between a Designated Zone and a foreign company are also not subject to tax.

      • For local companies and those registered in Non-Designated Zones (free zones not included in the Designated Zones list), the standard tax rules set forth in the Federal Decree-Law on VAT apply.

        • Companies with an annual turnover exceeding AED 375,000 are required to register with the Federal Tax Authority (FTA) as VAT taxpayers.

        • Companies with a turnover between AED 187,500 and AED 375,000 may register on a voluntary basis.

        • Companies can offset VAT paid on purchases of goods and services (input VAT) against the VAT they collect on sales (output VAT), shifting the tax burden to the final consumer.

        • Some goods and services may be exempt from VAT or taxed at a 0% rate, such as international transportation, educational, and medical services.

    2. Corporate Tax

      • As of June 1, 2023, the UAE has introduced a corporate tax at a rate of 9%, levied on the taxable net profit of companies with income exceeding AED 375,000.

      • A 0% rate is applied to taxable income not exceeding AED 375,000.

      • Charitable, non-profit organizations and medical institutions are fully exempt from corporate tax.

    3. Excise Tax

      • Since October 1, 2017, the UAE has introduced an excise tax aimed at reducing the consumption of harmful products and funding healthcare initiatives. The tax applies to alcohol, tobacco products, and beverages containing added sugar, including energy drinks and carbonated beverages.Excise tax rates vary depending on the product category:

        • 50% on carbonated drinks (excluding mineral water)

        • 100% on tobacco products

        • 100% on energy drinks

        • 100% on electronic smoking devices and liquids used for them

        • 50% on products containing added sugar or sweeteners.

      • Companies dealing with excise goods must register with the Federal Tax Authority (FTA), submit monthly declarations, and maintain records. Excise tax is paid upon the import, production, or release of goods for consumption in the UAE.

    4. Customs Duties

      • Custom duties in the UAE are applied to most imported goods at a standard rate of 5% of the cost, insurance, and freight (CIF). Exceptions include certain categories of goods, such as medicines and food products, which may be exempt from duties or subject to a reduced rate.

      • Goods imported into UAE free zones are generally not subject to customs duties as long as they remain within these zones. However, when such goods are transferred to the UAE mainland, standard duties apply.

    5. Personal Income Tax

      • In the UAE, personal income is not subject to taxation.

      • UAE citizens and residents are exempt from paying taxes on their personal income, including salaries, interest, dividends, inheritances, gifts, luxury goods, and capital gains.

    6. Local Taxes and Fees

      • Individual emirates may impose specific local taxes and fees in line with their economic and social needs. These taxes and fees are aimed at supporting public services and implementing infrastructure projects.

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