Dubai Internet City Company Formation

Business Setup Services | Dubai Internet City Free Zone

Dubai internet city established in the year 1999 in the heart of the Dubai free zone is the largest Information and Communications Technology business park in the entire Middle East and Northern Africa. DIC is the typical provider of a tactical and economic platform for ICT companies that are trying to find their share in the market, and with the introduction of the new system in 2013 for tech start-ups in Dubai and new entrepreneurs, it has witnessed a great boom. Located 25 kilometres from Dubai, the free zone is strategically great for attracting dynamic IT international communities to set up their operations in DIC.

Dubai has world class infrastructure and great facilities and a business friendly environment, flexible legal structure, and an affable ecosystem for global and regional companies and entrepreneurs to set up their IT firms in the UAE, DIC is a domicile for many global ICT companies, including Microsoft, Oracle, HP, IBM, Dell, Siemens, Canon, Logica, Sony Ericsson, Schlumberger, Cisco, as well as many of the small and medium-sized businesses and entrepreneurial ventures.

Why did you need to setup business in Dubai Internet City?

Dubai government has put the initiative to make it a global center for the world and one of the initiatives is to make Dubai Internet City into a global hub for innovation and knowledge and the same places are being Knowledge Village and Dubai Media City.

DIC is the perfect place for IT business setup as it offers the best technology start-up ecosystem and has all the elements of the ICT value chain. Vigorous IT infrastructure, an extensive talent pool of skilled &multi lingual staff, tranquil landscape, state-of-the-art offices, excellent retail services, residences & hotels, and 24 hour security ensures that this Dubai internet City is free zone with a strategic place for over 2 billion people around the world contributing towards a GDP of $6.7 trillion.

The advantages of setting up a business in this Dubai free zone

  • 100% exemption from personal and corporate income taxes for 50 years
  • 100% foreign ownership
  • 100% repatriation of profits
  • 100% exemption from customs duty
  • Communications infrastructure based on next-generation technologies
  • Presence of star hotels, and retail chains, 24-hour medical help and security and access to advanced fitness, banking, and ATM facilities
  • Dynamic international community
  • World class business conference facilities, infrastructure, and commercial office setup apt for technology companies
  • High speed and Digital voice data services offered at competitive rates
  • Opportunities for business interaction, networking and market development
  • Reasonable operating costs
  • Dynamic international community

Legal Entities in DIC

The company that have a business located in the mainland UAE is not allowed to do business outside the free zone although companies have been provided with ample resources to start their venture in DIC.

1. Limited Liability Company

Limited liability company is a company that has limited liability and can be owned by 1 to 50 individuals or corporate shareholders with a minimum share value of AED 1,000 and a minimum investment of AED 50,000.

2. Branch of a UAE Company

In order to open a branch of a UAE company you need a UAE resident. It doesn’t have any capitalization requirements.

3. Foreign Company

A branch of a foreign company in DIC can be formed by an applicant who is a foreign national, and such a company doesn’t have any capitalization requirement.

Business Licenses in Dubai Internet City

DIC allows all types of businesses to be set up in the free zone, but these are the most prominent licenses:

1. Software License

A software license in DIC is for any activity related to developing, installing and/or modifying software products of the company or of a third party.

2. Telecommunication and Network

This license must be obtained for any activity related to developing, installing, modifying, and/or operating networks or providing relevant services designed for operating network-based applications or services for self or for third parties.

3. E commerce

An e-commerce license is required for any activity related to individual services and products to third parties through electronic media such as an internet search engine, portal, website, social media, etc. for the purpose of selling goods and services.

4. IT Service

An IT service license encompasses any activity related to developing and/or providing standardized repeatable IT-based services, which may also include security solutions, localization, training, and corporate learning.

5. Internet and Multimedia

This license should be procured for any activity related to developing and/or distributing internet or multimedia content.

The Process of Starting a Business in Dubai Internet City

You need to follow the following steps in order to start a company in Dubai Internet City

  • Fill a business license application along with the proposed business plan and passport photocopies of all shareholders, managers, and directors to the Free Zone Authority and submit it.
  • Your application will be reviewed by the DIC and grant a provisional approval letter to the applicant with a checklist of required legal documents.
  • The provisional approval letter must be accepted by the applicant, signed, stamped and sent back to DIC.
  • Submit all legal documents within 15 working days from the acceptance of the Provisional Approval Letter.
  • DIC will review the legal documents, send the applicant a Customer Confirmation Letter and check if the required office space is available.
  • The applicant must return a signed and duly stamped Customer Confirmation Letter to the DIC.
  • After receiving the Customer Confirmation Letter the DIC will issue an invoice for an initial payment.
  • Personnel Sponsorship Agreement will be issued by the Dubai Internet City and office space Lease Agreement after receiving the initial payment.
  • After receiving the signed and stamped Lease and Personnel Sponsorship Agreement. A trade license is issued by the DIC allowing the company to start trading.
  • DIC will issue the invoice for outstanding lease rental amount payable in two instalments after issuing the trade license (33% first instalment payable after 4 months from the initial payment date, and 33% second instalment payable after 4 months from the date of payment of the first instalment).
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1. OFFICE AND VISA OPTIONS:

For entrepreneurs wishing to work flexibly out of DIC, the flexi-desk package is the ideal solution. This allows business owners to make use of office facilities such as desk space, meeting rooms, reception cover and call screening on an ad-hoc basis without the need to commit to physical office space. While the facilities are undoubtedly first class, at AED 25,000 it’s true that DIC’s flexi-package is slightly higher than others in the region. For those looking for more than one visa, or who wish to set up a physical presence in the free zone, DIC also offers the opportunity to apply for one visa per eight square metres of office space.

2. ROBUST SETUP PROCESS:

Perhaps unsurprisingly given the stature of many businesses that set up here, Dubai Internet City’s registration process is both comprehensive and robust. Entrepreneurs are required to provide a detailed business plan along with a certificate of incorporation and passport copies for all shareholders. From start to finish, the registration usually takes no longer than one month and you’ll only be required to visit the free zone once – to sign your application documents in front of the relevant authorities.

3. HOME TO A VARIETY OF ICT BUSINESSES:

Perhaps the biggest factor behind DIC’s popularity is that the free zone is open to a broad array of tech businesses. Dubai Internet City welcomes companies across the full spectrum of ICT and online industries, including software, hardware and digital marketing companies. Facebook, Google, Microsoft and IBM are just some of the prestigious organisations that call the free zone home.

4. EASY TO ARRANGE YOUR CORPORATE BANK ACCOUNT:

A hugely important task that is often not taken into consideration when setting up a company in the UAE is ensuring you get your corporate bank account open in time. Fortunately, DIC’s helpful staff are on hand to make sure this stage of the process runs smoothly. As well as advising you on the best banks to suit your needs, DIC can also arrange meetings with your chosen financial institutions should you so wish. What’s more, the Dubai Internet City’s robust setup procedures make it well trusted by both local and international banks.

5. SPONSOR DEPENDANTS WITH EASE:

As well as offering a straightforward process for applying for your own visa, Dubai Internet City makes it easy to obtain visas for your dependants as well. Providing you meet the salary requirements, you’ll be able to sponsor staff and/or family members when making their visa applications. Whether you require a visa for a spouse, child, maid or driver, the process is four straightforward stages: entry permit, status adjustment, a medical fitness test, then Emirates ID registration and visa stamping. As this is such an important process, it’s a good idea to get advice from an expert in setting up UAE free zone businesses – to ensure that before starting an application, both you and those you are hoping to sponsor meet the entry criteria.

6. SET UP WITH MULTIPLE SHAREHOLDERS:

Dubai Internet City is particularly popular among large multinational organisations as it allows for company formation with more than one shareholder. Companies setting up in the free zone are allowed multiple shareholders – both individuals and corporates.

7. WORK ALONGSIDE INDUSTRY GIANTS:

While Dubai Internet City may be slightly more expensive in terms of setup and running costs compared to others in the region, it is the place to be for businesses that want to make their name in the tech industry. DIC is the premier address for IT companies in Dubai, offering the opportunity to work alongside tech giants and Fortune 500 companies such as Microsoft, IBM, Dell and Cisco.

8. LOCATION, LOCATION, LOCATION:

DIC’s location is also a huge part of its appeal. Centrally located in Dubai, the free zone is just off one of the city’s main highways – Sheikh Zayed Road – making travel in and around the Emirates a breeze. Dubai Internet City is also within easy reach of several major ports and both Dubai International Airport and Al Maktoum International Airport, ideal for business travel and trade. Finally, for those that don’t intend to move too far from the free zones, DIC is well stocked with amenities: home to over 80 restaurants, alongside banking, courier and many other business facilities.

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Company Registration Service in Dubai Internet City Free Zone Know business setup cost & Package with Tariff for Dubai Internet City Free Zone. You will get Dubai Internet City Free Zone Office at affordable cost, You can see several new companies in Dubai Internet City Free Zone generating good Revenue. Read on Dubai Internet City Free Zone Jurisdiction and Benefits of setting up of company in Dubai Internet City Free Zone. We help you getting Business License in Dubai Internet City Free Zone. Rules & Regulations in Dubai Internet City Free Zone are similar to other free zones in UAE. You might have read about the activities, advantages employee benefits of Dubai Internet City Free Zone. Get a quote today and know about license fees & trade license cost towards establishment of Dubai Internet City Free Zone.

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