Business Setup In KIKLABB Free Zone

Benefits of Setting up a Company in KIKLABB

Setting up a company in KIKLABB comes with a slew of benefits for investors. The Free Zone is 15 minutes from downtown, less than 15 minutes from Dubai International Airport, and surrounded by all the amenities needed to get the business moving.

Queen Elizabeth 2 (QE2) cruise is docked at Mina Rashid, which is considered as Dubai’s newest waterfront destination, and the neighbourhood boasts of rich maritime heritage. The Port Rashid area is poised for major redevelopments plans and the QE2 will be the focus of AED 25 billion mega residential and commercial project to come up at the Port Rashid. The QE2 authorities have recently stated that more rooms of the ship will be opened soon. As of now only 240 rooms of the QE2 is open but the cruise liner has a total of 1000 rooms.

• Sponsor-free 100% ownership
• 3-year visa duration
• Availability of Virtual license
• Operate across all free zones
• KIKLABB full-service advantage
• Co-working Spaces and Flexi Desks
• Government-owned entity for ease of the process
• License flexibility: not limited to any specific sector
• Dedicated account manager for all licensees
• Assistance in opening a bank account with Mashreq Bank (optional)

Features of KIKLABB Co-working Spaces & How to Avail the Services?

In recent years, Dubai has seen an upsurge in the demand for co-working spaces. According to the data by Colliers, there are more than 650,000 square feet of flexible and co-working space in Dubai which are spread across 53 locations. The supply of co-working spaces in Dubai is likely to grow with at least 320,000 to 530,000 sq ft by the end of 2020. Both new market entrants and existing players are likely to contribute to this trend. The data also predicts that flexible workspace will account for over 60% of the total office demand in GCC by 2025.

The following are the types of flexible workspaces offered by the KIKLABB:

a) Private Offices

KIKLABB has around 50 private office spaces that are available on a weekly, monthly and yearly basis. The offices are of state-of-the-art quality and are highly spacious. The private offices are available from AED 475 per week from AED 95 per day.

b) Co-working & Flexi Desk

Around 100 co-working spaces and 75 Flexi desks are currently available at KIKLABB. Businesses can rent the facilities by the day, week, or month. The package for the Flexi space starts forms AED 95 per day. Businesses get different options to choose from the right co-working facility that fits their ventures:

c) Common Area

The common area is Flexi space and the package starts from AED 95 per day.

d) Lounging Booth

Lounging Booth at KIKLABB is a dedicated desk, which is available in standard, premium, and premium plus rates.

Documents Required To Start a Company in KIKLABB Free Zone

1. For License

• Coloured passport copy with 6 months validity
• Visa, Entry stamp, and/or cancellation page (whichever is applicable)
• In the event, the client has a UAE Employment Visa, NOC from the existing sponsor on company letterhead, signed and stamped by manager-in-charge must be provided

2. For Visa

• Coloured passport copy with 6 months validity
• Latest passport size photo with white background
• Visa, Entry stamp, and/or cancellation page (whichever is applicable)
• Valid Establishment Card copy
• A national ID from home country for Pakistani, Afghan, Irani and Iraqi Nationalities
• Attested Medical Report for Ethiopian, Sri Lankan, and Indonesian Nationalities
• Attested Education Certificate for clients with the title of Manager, Director, Engineer, Doctor and Accountant as well as any Irani nationalities

3. For Bank Account

• Trade License
• Certificate of Incorporation
• Share Certificate
• Memorandum & Articles of Association (MOA/AOA)
• Board Resolution
• Passport copy of all Ultimate Beneficiaries (UBO) – one UBO should be available to meet with the bank
• Organisational Structure of the company on official letterhead
• Lease Agreement
• The signatory must sign passport copies for owner and shareholders (only the signatory is required to show original passport
• Visa copies of all Shareholders, Partners, and Signatories
• Owner’s Resume/CV (mandatory)
• Proof of Address (DEWA Bill, Tenancy Contract). Alternatively, in the event, the client is a new resident, a Declaration Letter from a relative can be provided
• Business Model of the company, detailing cashflow
• Registered address, website, and line of business along with invoices, agreements, CV’s and company stamp for 3 suppliers and 3 clients

Most Significant Business Activities Permitted in KIKLABB

The Free Zone allows company formation with the license issued by the Port, Customs and Free Zone Corporation (PCFC). KIKLABB offers professional, Commercial and Industrial licenses for company formation. The major activities covered under these licenses are as follows:

• Accounting & Auditing
• Agriculture
• Cargo & Freight-forwarding
• Construction
• Consulting
• E-commerce
• Educational Institutions
• Event Organizers
• Financial Institution
• General Trading
• Health Care
• Insurance
• Law
• Manufacturing
• Media & Entertainment

However, it is important to note that a Free Zone Company can trade in the local market (UAE) only if they appoint an agent and pay 5% customs duty. A Free zone Company with a Consultancy License is not permitted to work outside the free zone. However, they can serve their clients within the free zone and outside the UAE.

Business Setup Consultants in KIBLABB Freezones

Jitendra Business Consultants (JBC) is a revered name among the entrepreneurs and investors in Dubai, UAE. JBC has established itself as an undeniable force by providing thousands of clients with unbiased consultation on UAE company formation. JBC’s team of highly qualified business setup consultants is best known for providing end-to-end solutions to companies for all the processes including from initial approval to obtaining a certificate of incorporation.

JBC recommends KIKLABB as an ideal Free Zone for setting up businesses owing to a variety of reasons including the easy license process, unique location in a ship, and innovative facilities like co-working spaces and Flexi desks.