10 steps to incorporating in Hamriyah in 2021
- Prior to Hamriyah FZC incorporation, our Client i) settles Healy Consultants’ engagement fees ii) signs our Client Engagement letter and iii) provides us the due diligence documents including a) copies of valid passports for all shareholders and directors b) proof of address and c) certificate of bank account;
- Healy Consultants drafts a detailed project plan, detailing the engagement specifics including i) name reservation ii) work permit application submission iii) type of FZC license requested and iv) type of space needed for the project (unbuilt land, office space and/or industrial space). The plan will furthermore map out, week by week, each step to engagement completion, optimising transparency and setting Client expectations;
- Next, Healy Consultants will assist our Client with i) drafting the company’s memorandum of association according to the template required by the Hamriyah Free Zone Authority and ii) preparing a business feasibility plan (at least 2 pages long);
- Healy Consultants will then prepare and submit, on behalf of our Client, i) a FZC registration application and ii) a business licence application to the HFZ Authority for prior approval of the project;
- Once prior approval for company incorporation in Hamriyah is obtained, Healy Consultants’ banking team assists our Clients open a corporate account with in the UAE. Our Client will deposit the company’s share capital into the bank account, with the minimum requirement of at least US$41,000. The bank will then directly provide our Client with a certificate of deposit;
- Healy Consultants assists our Client with obtaining all the legal documentation requested to obtain final approval from the HFZ Authority, including i) bank’s certificate of deposit and ii) certificate of payment of the 1st year for all land and facilities rented by our Client within the zone;
- Once final approval is granted by the HFZ Authority, Healy Consultants provide our Client with a certificate of incorporation and notifies the FZC Register of commencement of operations;
- All FZCs are required to appoint 1 resident director and 1 resident company secretary, who can be a single individual. If these roles are assumed by foreigners, Healy Consultants will collect due diligence documents from each candidate and applies for work permits with the Human Resource Department of the HFZ Authority;
- If required, Healy Consultants will assist our Client with activating the internet banking facility for the UAE corporate bank account;
- Following engagement completion, Healy Consultants couriers a company kit folder to our Client’s preferred international address, containing the following corporate documents including original corporate documents, unopened bank correspondence and a Client feedback survey to assess our Hamriyah company incorporation services.
Frequently asked questions
How much time is required to establish a new business in Hamriyah?It takes on an average 17 weeks to complete business setup in Hamriyah Free Zone.