Home Catalog Retail Sale Of Other Household Equipment In Specialized Stores

Article: 1252

Company setupRetail Sale Of Other Household Equipment In Specialized Stores

JurisdictionMeydan Free Zone

Service

Short description

This company can engage in retail sale of other household equipment in specialized stores; textiles in specialized stores; fabrics; knitting yarn; basic materials for rug, tapestry or embroidery making; textiles; haberdashery: needles, sewing thread etc.; textile trading; tents, sheds & tarpaulins trading; sewing & embroidery requisites trading; blankets, towels & linens trading; flags & flagpoles trading; threads & yarns trading; hardware, paints and glass in specialized stores; hardware; paints, varnishes and lacquers; flat glass; other building material such as bricks, wood, sanitary equipment; do-it-yourself material and equipment; lawnmowers, however operated; saunas; timber trading; cement & gypsum trading; reinforcement steel bars trading; sanitary ware trading; tanks & silos trading; electrical fittings trading; bricks trading; marble & natural stones trading; tiles & flooring materials trading; water heaters trading; false ceiling trading; cement products trading; gypsum products trading; wooden products trading; workshop hardware & tools trading; pipes & fittings trading; sand, gravel & stones trading; glass & mirrors trading; building metal products trading; wires & cables trading; fiber glass products trading; decoration materials & partitions trading; scaffolds trading; ready-mix concrete trading; fencing & barbed wire trading; special fabrics & fibers for construction trading; doors, windows & other plastic building products trading; building maquettes & models requisites trading; building & construction materials trading; paint & varnish trading; agricultural tools trading; building hardware & tools trading; metal drums & barrels trading; metal cans & containers trading; precision dies trading; traffic signs & requisites trading; metal ropes trading; cargo containers trading; pre-fabricated houses trading; swimming pools trading; ink & printing materials trading; insulation & protection materials trading; fire resistant doors trading; grease traps trading; ventilators & fans trading; tar & asphalt trading; basic steel products trading; basic non ferrous metal products trading; non-manufactured precious metal trading; crane rails & fixing accessories trading; metal alloys trading; gas cylinders trading; metal wires trading; lighting poles trading; green buildings construction materials trading; fire fighting pipes trading; fire resistant & retardant materials trading; ironmongery trading; locks & keys trading; rock wool trading; raised access computer floors trading; garbage & waste collection containers trading; plastic & nylon raw materials trading; industrial sponge trading; rubber trading; ropes, sacks & jute bags trading; paper trading; upholstery requisites trading; plastic bags & containers trading; cotton & natural fibers trading; plastic sheets trading; carpets, rugs, wall and floor coverings in specialized stores; carpets and rugs; curtains and net curtains; wallpaper and floor coverings; oriental carpets trading; curtains & upholstery fabrics trading; metal blinds trading; electrical household appliances, furniture, lighting equipment and other household articles in specialized stores; household furniture; articles for lighting; household utensils and cutlery, crockery, glassware, china and pottery; wooden, cork and wickerwork goods; household appliances; musical instruments and scores; security systems, such as locking devices, safes, and vaults, without installation or maintenance services; household articles and equipment n.e.c.; chandeliers trading; light fitting & fixtures trading; cutlery & silverware trading; household utensils trading; air-condition trading; antennas trading; ceramic & chinaware trading; cookers & cook stoves trading; refrigerators, washing machines & household electrical appliances trading; cloth hangers trading; video games consoles trading; domestic kitchen & fixture trading; sponge mattresses trading; bamboo, cane & wicker products trading; wax candles trading.

About the company's activities

Types of activities

For a setup of a company in Meydan Free Zone in the field of retail sale of other household equipment in specialized stores the following group of business activity has been chosen:

Retail Sale Of Other Household Equipment In Specialized Stores (group 475):
- 4750,00 - Retail Sale Of Other Household Equipment In Specialized Stores;
- 4751,00 - Retail Sale Of Textiles In Specialized Stores;
- 4751,01 - Retail Sale Of Fabrics;
- 4751,02 - Retail Sale Of Knitting Yarn;
- 4751,03 - Retail Sale Of Basic Materials For Rug, Tapestry Or Embroidery Making;
- 4751,04 - Retail Sale Of Textiles;
- 4751,05 - Retail Sale Of Haberdashery: Needles, Sewing Thread Etc.;
- 4751,94 - Textile Trading;
- 4751,95 - Tents , Sheds & Tarpaulins Trading;
- 4751,96 - Sewing & Embroidery Requisites Trading;
- 4751,97 - Blankets, Towels & Linens Trading;
- 4751,98 - Flags & Flagpoles Trading;
- 4751,99 - Threads & Yarns Trading;
- 4752,00 - Retail Sale Of Hardware, Paints And Glass In Specialized Stores;
- 4752,01 - Retail Sale Of Hardware;
- 4752,02 - Retail Sale Of Paints, Varnishes And Lacquers;
- 4752,03 - Retail Sale Of Flat Glass;
- 4752,04 - Retail Sale Of Other Building Material Such As Bricks, Wood, Sanitary Equipment;
- 4752,05 - Retail Sale Of Do-It-Yourself Material And Equipment;
- 4752,06 - Retail Sale Of Lawnmowers, However Operated;
- 4752,07 - Retail Sale Of Saunas;
- 4752,29 - Timber Trading;
- 4752,30 - Cement & Gypsum Trading;
- 4752,31 - Reinforcement Steel Bars Trading;
- 4752,32 - Sanitary Ware Trading;
- 4752,33 - Tanks & Silos Trading;
- 4752,34 - Electrical Fittings Trading;
- 4752,35 - Bricks Trading;
- 4752,36 - Marble & Natural Stones Trading;
- 4752,37 - Tiles & Flooring Materials Trading;
- 4752,38 - Water Heaters Trading;
- 4752,39 - False Ceiling Trading;
- 4752,40 - Cement Products Trading;
- 4752,41 - Gypsum Products Trading;
- 4752,42 - Wooden Products Trading;
- 4752,43 - Workshop Hardware & Tools Trading;
- 4752,44 - Pipes & Fittings Trading;
- 4752,45 - Sand, Gravel & Stones Trading;
- 4752,46 - Glass & Mirrors Trading;
- 4752,47 - Building Metal Products Trading;
- 4752,48 - Wires & Cables Trading;
- 4752,49 - Fiber Glass Products Trading;
- 4752,50 - Decoration Materials & Partitions Trading;
- 4752,51 - Scaffolds Trading;
- 4752,52 - Ready-Mix Concrete Trading;
- 4752,53 - Fencing & Barbed Wire Trading;
- 4752,54 - Special Fabrics & Fibers For Construction Trading;
- 4752,55 - Doors, Windows & Other Plastic Building Products Trading;
- 4752,56 - Building Maquettes & Models Requisites Trading;
- 4752,57 - Building & Construction Materials Trading;
- 4752,58 - Paint & Varnish Trading;
- 4752,59 - Agricultural Tools Trading;
- 4752,60 - Building Hardware & Tools Trading;
- 4752,61 - Metal Drums & Barrels Trading;
- 4752,62 - Metal Cans & Containers Trading;
- 4752,63 - Precision Dies Trading;
- 4752,64 - Traffic Signs & Requisites Trading;
- 4752,65 - Metal Ropes Trading;
- 4752,66 - Cargo Containers Trading;
- 4752,67 - Pre-Fabricated Houses Trading;
- 4752,68 - Swimming Pools Trading;
- 4752,69 - Ink & Printing Materials Trading;
- 4752,70 - Insulation & Protection Materials Trading;
- 4752,71 - Fire Resistant Doors Trading;
- 4752,72 - Grease Traps Trading;
- 4752,73 - Ventilators & Fans Trading;
- 4752,74 - Tar & Asphalt Trading;
- 4752,75 - Basic Steel Products Trading;
- 4752,76 - Basic Non Ferrous Metal Products Trading;
- 4752,77 - Non-Manufactured Precious Metal Trading;
- 4752,78 - Crane Rails & Fixing Accessories Trading;
- 4752,79 - Metal Alloys Trading;
- 4752,80 - Gas Cylinders Trading;
- 4752,81 - Metal Wires Trading;
- 4752,82 - Lighting Poles Trading;
- 4752,83 - Green Buildings Construction Materials Trading;
- 4752,84 - Fire Fighting Pipes Trading;
- 4752,85 - Fire Resistant & Retardant Materials Trading;
- 4752,86 - Ironmongery Trading;
- 4752,87 - Locks & Keys Trading;
- 4752,88 - Rock Wool Trading;
- 4752,89 - Raised Access Computer Floors Trading;
- 4752,90 - Garbage & Waste Collection Containers Trading;
- 4752,91 - Plastic & Nylon Raw Materials Trading;
- 4752,92 - Industrial Sponge Trading;
- 4752,93 - Rubber Trading;
- 4752,94 - Ropes, Sacks & Jute Bags Trading;
- 4752,95 - Paper Trading;
- 4752,96 - Upholstery Requisites Trading;
- 4752,97 - Plastic Bags & Containers Trading;
- 4752,98 - Cotton & Natural Fibers Trading;
- 4752,99 - Plastic Sheets Trading;
- 4753,00 - Retail Sale Of Carpets, Rugs, Wall And Floor Coverings In Specialized Stores;
- 4753,01 - Retail Sale Of Carpets And Rugs;
- 4753,02 - Retail Sale Of Curtains And Net Curtains;
- 4753,03 - Retail Sale Of Wallpaper And Floor Coverings;
- 4753,97 - Oriental Carpets Trading;
- 4753,98 - Curtains & Upholstery Fabrics Trading;
- 4753,99 - Metal Blinds Trading;
- 4759,00 - Retail Sale Of Electrical Household Appliances, Furniture, Lighting Equipment And Other Household Articles In Specialized Stores;
- 4759,01 - Retail Sale Of Household Furniture;
- 4759,02 - Retail Sale Of Articles For Lighting;
- 4759,03 - Retail Sale Of Household Utensils And Cutlery, Crockery, Glassware, China And Pottery;
- 4759,04 - Retail Sale Of Wooden, Cork And Wickerwork Goods;
- 4759,05 - Retail Sale Of Household Appliances;
- 4759,06 - Retail Sale Of Musical Instruments And Scores;
- 4759,07 - Retail Sale Of Security Systems, Such As Locking Devices, Safes, And Vaults, Without Installation Or Maintenance Services;
- 4759,08 - Retail Sale Of Household Articles And Equipment N.E.C.;
- 4759,85 - Chandeliers Trading;
- 4759,86 - Light Fitting & Fixtures Trading;
- 4759,87 - Cutlery & Silverware Trading;
- 4759,88 - Household Utensils Trading;
- 4759,89 - Air-Condition Trading;
- 4759,90 - Antennas Trading;
- 4759,91 - Ceramic & Chinaware Trading;
- 4759,92 - Cookers & Cook Stoves Trading;
- 4759,93 - Refrigerators, Washing Machines & Household Electrical Appliances Trading;
- 4759,94 - Cloth Hangers Trading;
- 4759,95 - Video Games Consoles Trading;
- 4759,96 - Domestic Kitchen & Fixture Trading;
- 4759,97 - Sponge Mattresses Trading;
- 4759,98 - Bamboo, Cane & Wicker Products Trading;
- 4759,99 - Wax Candles Trading.

The company can choose up to 3 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 (4751,04) requires an additional permit from the Dubai Municipality (DM), (4752,74) from Department of Petroleum Affairs (DOPA), (4752,77), (4752,79) from Security Industry Regulatory Agency (SIRA), (4752,80) from Supreme Council of Energy (SCOE), (4759,90) from Telecommunications And Digital Government Regulatory Authority (TDRA).

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:
  - 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.
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:
  - 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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