Look around, and you’ll find technology enhancing every aspect of life, making it more comfortable and enjoyable. Dubai recognizes the invaluable contribution of tech and IT businesses in shaping this transformation. Dubai Internet City (DIC), established in 2000, stands as the region’s premier innovation and tech hub, embodying Dubai’s vision of transitioning into a knowledge-based economy. DIC fosters a thriving ecosystem, supporting both emerging startups and established technology giants like Facebook, LinkedIn, and Microsoft. With over 1,700 businesses, DIC is the MENA region’s largest ICT hub, empowering SMEs and attracting global ICT leaders to Dubai.
For businessmen who need to have a Company Formation in Dubai Internet City, there are decisions that speculators can look over Free Zone Limited Liability Company (FZ-LLC), Branch of a Foreign/UAE Company, and Freelancer. Beside that TECOM media city has points of interest available for businessmen.
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Why Dubai Internet City for Business Setup?
Dubai Internet City (DIC) stands out as the premier destination for establishing IT companies in Dubai. Here’s why:
Largest ICT Hub:
DIC is the MENA region’s largest ICT hub, offering unparalleled opportunities for growth and innovation.
Full Foreign Ownership:
Enjoy 100% foreign ownership of your business, empowering you to maintain complete control over your venture.
Tax Benefits:
Benefit from zero personal, income, and corporate taxes, along with no currency restrictions and unrestricted repatriation of capital and profits.
Cutting-Edge Infrastructure:
Access world-class communications infrastructure and innovative technologies, including Metro Ethernet environments and high-speed data services.
Networking Opportunities:
Join a dynamic international community, fostering networking and collaboration with industry peers and experts.
Market Development:
DIC provides opportunities for market development and expansion, with access to knowledgeable workers and prompt immigration processes.
Legal Framework:
Operate within a robust legal framework conducive to business, ensuring the protection of properties and assets.
Flexible Workspace:
Choose from a range of commercial offices, business centers, and conference facilities tailored to your needs.
Easy Formation:
Experience easy and swift business formation processes, supported by DIC’s efficient services and support.
Affordable Options:
Access freehold offices for sale or lease at moderate rates, providing flexibility and affordability for businesses of all sizes.
Trade License Types in Dubai Internet City
In Dubai Internet City, businesses have multiple trade license types to choose from:
Software:
Allows for the development, installation, and/or modification of software products, either proprietary or third-party, as a business venture.
Telecommunication & Network:
Covers activities related to the development, installation, modification, and/or operation of networks or delivery of related services aimed at operating network-based applications or services for the company or third parties.
E-Commerce:
Enables businesses to offer individual products and services to third parties through electronic media such as websites, social media platforms, and internet search engines, facilitating sales activities.
IT Service:
Pertains to activities associated with the development and/or provision of standardized, repeatable IT-based services, which may include localization, security solutions, corporate learning, and training.
Internet & Multimedia:
Authorizes the holder to engage in activities related to the development and/or distribution of multimedia or internet content, including the distribution of goods or services through the internet.
How to form a company in Dubai Internet City?
Setting up a company in Dubai Internet City involves a straightforward process:
- Acquire a Trade License: Obtain the necessary trade license from the Dubai Creative Clusters Authority (DCCA), which governs DIC. You can establish either a Free Zone Limited Liability Company (FZ-LLC) or a branch of a foreign company.
- Initial Approval: Submit required documents to the DIC Authority for initial approval:
- License Application
- Detailed Business Plan
- Intended business activity/ies
- Passport copies, CVs, and contact details of Shareholders, Directors, and Managers
- Power of Attorney (if applicable)
Note: The company name must end with “FZ-LLC” and cannot include certain terms like “co,” “ltd,” or “limited.”
- Submit Application for Trade License: After receiving initial approval, submit the application for the trade license. Provide a letter of undertaking signed by shareholders and additional required documents:
- Attested Resolution of Incorporation of FZ-LLC
- Original notarized copy of Registration Identification Code (RIC) Form for shareholders, directors, and managers
- Bank reference letter for shareholders
- Proof of share capital
- NOC for the Manager from the current UAE sponsor
- Additional Documents for Corporate Shareholders: If shareholders are corporate entities, additional documents are required, such as Company Incorporation Certificate, Certificate of Continuity, MOA, and AOA of the Parent Company.
- License Issuance: The DIC Authority reviews the application and typically issues the license within one to two weeks.
- Visa Process and Bank Account Opening: Once you have the trade license, proceed with the visa process for employees and open a corporate bank account.
This structured process ensures a smooth and efficient setup of your business in Dubai Internet City.
Dubai Internet City Business Setup
albeit very similar with another business setup in Dubai free zones, is done through a deliberate procedure that is normal by this Dubai free zone authority to be trailed by business proprietors so their Dubai Internet City company development will be finished by the period.
It isn’t surely fitting that one should treat business setup in Dubai as a basic assignment. The handling of TECOM registration and licensing, discovering the TECOM permit expenses, and guaranteeing that Dubai Freezone company setup cost is accurately determined—these are not effectively done.
This is the reason company development experts in Dubai exist. These individuals are the reasons why UAE and Dubai Freezone organizations were effectively established in the nation.
The information that you will most likely acquire from business specialists in Dubai are ensured to enable you to settle on significant things before you at last step forward towards conducting a business setup in Dubai Internet City.
For further information and assistance on how to Company Formation in Dubai Internet City (DIC). To Speak with our Experienced Business Consultants for further information and assistance, call us at +971582595164. Send a WhatsApp Message for Chat Query on +971 582595164 or email us at info@companysetup.ae.
