Natural Person FZ LLC

Dear Potential Business Partner,

Thank you for choosing IMPZ as the home for your new business. The following information is meant to serve as your guide to registering a company with us. Your Sales and Business Development Manager would have already explained the various options you have with regards to the legal frame for your new entity. 

In this registration pack you will find information pertaining to each type of entity that includes the following:

• Check list of legal documents required
• Helpful hints for ensuing your legal documents are in order

IMPZ also recommends that you take the time to do the following prior to registering your new entity:

• Consult a local lawyer who can give you valuable information on your rights & obligations once you have registered a company with us
• Contact a local bank of your choice to enquire about their requirements for opening a corporate account 
• Read the TECOM licensing regulations (http://www.tecom.ae/law/index.htm)
• Read the TECOM private companies law (http://www.tecom.ae/law/index.htm)
• Read the IMPZ general lease terms and conditions

Finally, we would like to draw your attention to the following:

• Your  Sales and Business Development Manager will be your point of contact through this process
• The Registration Department has the right to ask for additional documentation / attestation if they consider necessary
• We will deliver specified actions within the defined thresholds
• Your Sales Manager will call you on the day your documents are ready so that you can agree on a collection time. Visiting our offices without an appointment will not speed up the process

The registration process for a Free Zone Limited Liability Company generally takes 12 working days to complete and is detailed below; your availability (in Dubai) is required throughout the registration of your new company.  The process is detailed below for your reference.

The documents required for the registration of your new company are listed on the following page.  Please note that we can not accept an incomplete file for registration.  The Authority reserves the right to ask for additional documentation / authentication as deemed necessary.

Step One:  Hand over of Legal Documents
The Sales Manager handling your account will receive your registration documents and review them with you against the checklist to ensure that your file is complete. 

Step Two:  Review of Legal Documents
Your file is reviewed by our Registration team; they ensure that the information pertaining to the shareholders and the new company are in order. The review process takes up to 4 working days.  It is at this stage that your file is either accepted or returned with a request for additional information.   On day 4, your RSM will advise you as to the status of your file.

Step Three:  Signing of A/M of Association & Issuance of Bank Introduction letter
Following the acceptance of your file, we require 4 working days to prepare your legal documents. On day 4, all shareholders will need to come in to sign the Articles & Memorandum of Association.  You will then be given a bank introduction letter from IMPZ and your attested resolution to facilitate the opening of your corporate account.

At this stage in the process you will need to make a down payment towards your office premises equal to 34% of the annual rent and make payment in full for your trade license and company registration.

Step Four:  Capital Deposit
The bank introduction letter is valid for 10 days, within this time you will need to open your corporate account and deposit the capital as per the resolution.  Once you have made the deposit your bank will provide you with a letter confirming the details of the deposit and your new corporate account.  The original letter needs to be returned to your IMPZ Regional Sales Manager.

Step Five:  Issuance of Legal Documents & Trade License
Upon receipt of capital deposit bank letter, our Registration department will issue your legal documents and trade license.  This requires 4 working days.  Once ready, you will be asked to come in and sign your lease and collect a photocopy of your license.  This should be given to your bank so that they will release funds and enable you to issue checks to IMPZ for the remainder of your lease period.  Upon the receipt of your checks IMPZ will release all legal documents.

The registration of a Free Zone Limited Liability Company requires that the legal documents submitted meet the criteria detailed below.  By ensuring that your legal documents comply with our requirements, you allow us to serve you more efficiently.

1. Application for Registration – this form should be typed
   So as to avoid delays in processing, please ensure that all names mentioned on this form are as they appear in the passports and on all other legal documents being submitted.
2. Original Resolution ( or ) – on plain paper, in duplicate stating the following:
   • Calling for the establishment of a FZ LLC in International Media Production Zone.
   • Appointing Manager and assigning Power of Attorney for Manager and Directors (if applicable)

     (please state the Manager’s full name as in the passport, nationality and passport number). If the Power of Attorney is a separate document it should be Notarized and Legalized.

   • Indicating paid up capital and the share allocation between the shareholders
   • Appointment of Directors (if applicable)

   If this Resolution is not signed in the presence of IMPZ Representative it must be Notarized. The Resolution must be in English or Arabic, or legally translated into either English or Arabic.
   Please ensure that names appearing in the Resolution are as they appear in the Application for Registration and in the respective passport.
   A specimen resolution is available for your use.

3. Valid passport copy (send as electronic copies) - must be clear/ complete and passports should be valid for a minimum of 6 months.
   • of the Manager
   • of the Shareholders & Directors
   • of the Negotiator / Legal Representative if applicable

   In the event that the manager holds a UAE residence visa, a letter of no objection from the existing sponsor of the Manager is required.  The letter of no objection must be signed by the sponsor or his duly empowered signatory.

4. CV’s and Original Bank Reference Letter Bank for each Shareholder confirming the following:
   • Type of account & how long the account has been active
   • That the account has been conducted to the banks satisfaction

   This letter must bear the stamp of the Bank.  This letter should be issued for your personal account, not a company account on which you have signing authority.  Bank statements are not required nor will they substitute for this letter.

5. Specimen signature - A specimen signature form is provided
   • of the Manager
   • of the Shareholders / Directors
   • of the Negotiator / Legal Representative if applicable

      Please ensure that all names are as they appear in the passport.

6. Application for License – form is available