The UAE is revolutionizing its business landscape with new initiatives aimed at simplifying company formation and licensing. A prime example is the launch of ‘Fawri’ by Meydan Free Zone, a service that promises to issue complete business licenses in a remarkable 60 minutes, significantly boosting entrepreneurial efficiency and making Dubai an even more attractive global business hub.
Unprecedented Speed In Business Licensing
Meydan Free Zone has introduced ‘Fawri’, an innovative digital platform designed to drastically reduce the time it takes to obtain a business license in Dubai. This service allows solo entrepreneurs to secure all necessary legal documents, including the business license, certificate of formation, share register, memorandum and articles of association, and lease agreement, within an hour.
Mohammad Bin Humaidan Al Falasi, Strategic Director of Free Zone Licensing at Meydan Free Zone, emphasized that Fawri is a testament to their commitment to making the entrepreneurial journey swift and clear. This initiative sets a new standard for business setup in the UAE, focusing on digital, founder-first, and globally competitive solutions. Once licensed, entrepreneurs can immediately proceed with visa applications and corporate bank account setups through Meydan Free Zone’s integrated digital ecosystem, enabling same-day operational readiness.
Key Features Of Fawri
- Rapid Licensing: Obtain a complete business license in just 60 minutes.
- Comprehensive Documentation: Receive all core legal documents simultaneously.
- Broad Activity Scope: Available for over 1,800 approved business activities across diverse sectors like e-commerce, consulting, trading, education, and fintech.
- Flexible Activity Grouping: Combine up to three activity groups under one license.
- Transparent Pricing: Priced at AED 15,000 with no hidden fees, including one complimentary amendment in the first year.
- Favorable Ownership Terms: Offers 100% foreign ownership, zero paid-up capital requirements, and full repatriation of capital and profits.
- Office Space Flexibility: Freedom to lease office space anywhere in Dubai with DET approval.
- Money-Back Guarantee: Backed by a time-bound money-back guarantee, a first in the region.
Driving Digital Transformation And Entrepreneurship
The introduction of Fawri underscores Meydan Free Zone’s dedication to digital transformation and fostering founder-led businesses. By streamlining the licensing process, the UAE aims to solidify Dubai’s position as a premier destination for global entrepreneurship. This move is expected to attract more international businesses and talent, further boosting the region’s economic growth and innovation.
