CONNECTING YOU TO OPPORTUNITY
Business set up consultancy Creative Zone has become something of a staple for new business owners coming to the UAE.
Since its launch back in 2010, Creative Zone has set up over 45,000 businesses, including bigwigs like Hyundai and Whirlpool, to the region’s most successful start-ups and SMEs like Entertainer, Ekar, Fruitful Day, Rely OnNutec, amongst others.
The company’s intelligible ecosystem developed over the years is devised to eliminate entrepreneurs’ pain points experienced by them during the set up and post set up phase.
For example, one of the things that entrepreneurs struggle with the most is opening a bank account. Companies have to submit an exhaustive list of documents like an office lease, MOA, business plan, share capital, legal structure, and other complex paperwork, and even after that, there is no guarantee that the account will be opened. Creative Zone’s concierge department has bank experts who will prepare all documents and liaise with banks on your behalf so that instead of months, the process will take only a couple of weeks.
With the upcoming corporate tax in 2023, Creative Zone has already put in force a fully functional infrastructure to assist companies to make sense of the new tax laws and assist them when the time comes. Compliance regulations such as filling the Economic Substance Regulation and submitting the Ultimate Beneficiary Owner (UBO) form are crucial for businesses, and non-compliance can lead to fines of up to 50,000 AED. Creative Zone Tax and Accounting assess which entities and activities are within the scope of the revised economic substance rules and/or whether the entity can benefit from any of the exemptions in the Regulations. This is a critical step for all businesses to determine what to notify the Regulatory Authorities and what economic substance requirements need to be met.
Similarly, for registering UBOs, the company prepare registers of the UBOs, Partners / Shareholders and Nominee Directors / Managers (if applicable) in accordance with the resolution, arrange to file with the authorities, maintain the relevant registers on an ongoing basis and inform the relevant authority of any changes or amendments to the information provided.
Many new businesses are conservative with their marketing and media needs, especially in the beginning. Creative Zone’s Media and Marketing wing help to define the brand identity for start-ups, and build meaningful content and communications for the target segment. Right from logo design to the website, Creative Zone helps start-ups launch their brand from day 1.
Keeping the services aside, the company has lived to its character by creating a homegrown accelerator and incubator, Startup X and the women-centric programme She Leads. Late last year two winners were awarded a combined total of AED 200,000 worth of business support services through the programme.
To know more about Creative Zone visit https://www.creativezone.ae/ or call 800 LICENSE
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