Dubai Internet City (DIC)is a huge techno-hub established in 2000. With over 24,000+ professionals, it is home to 160+ nationalities. Also, there are 12 innovation centres. It offers a perfect business environment for more than 1600 companies. It is an excellent choice for setting-up business for all Information, Communication, and Technology Companies. DIC provides a cost-effective base for all ICT companies so that they can explore all business opportunities.
Types of Licenses available at DIC
Choose the right legal structure at Dubai Internet City
1. Free Zone Limited Liability Company
It is an independent legal entity.
2. Branch office of a UAE Company
It’s a branch office of an existing UAE company, and it does not have a separate legal entity.
3. Branch office of a Foreign Company
The branch office of a foreign company can be formed with no minimum share capital prerequisites.
4. Freelance Permit
It gives an individual the liberty to operate as a freelance professional.
Benefits of Dubai Internet City Business Set-up:
- 0% personal income tax
- 0% corporate tax
- 100% foreign ownership
- 24*7 visa service
- 24*7 security service
- 100% repatriation of capital and profits
- IT infrastructure is highly advanced
- Straightforward registration process
- No customs duty for goods and services
- The legal framework is simple
- Strategic Location
- Fantastic road and metro connectivity
Offerings of Dubai Internet City
1. Commercial Spaces
The office spaces are strategically located and are adaptable to the needs of every business. Some features offered are:
– Prototyping labs
– Retail and event venues
– Innovation Centres
With over 24,000+ professionals working together, it is just the right place if you wish to grow your retail business.
3. In5 Centres
It is an innovation platform for all start-ups and entrepreneurs.
4. Co-working Spaces
They minimize the investment by offering Flexi desks and private offices. Both executive offices and executive desks are available.
The Freelance facilities are provided in three industries- Tech, Media, and Education. It is a simple process of applying and then signing and payment and then finally obtaining the freelance permit. The documents required for securing the permit:
– Application Form
– Passport Copy
– Visa Copy
– NOC of the sponsor (if GoFreelance permit is being applied for without visa)
– Bank Reference Letter
– Portfolio or Sample of Work (this is for Media sector only)
– Credentials and Certificates for the Education sector only
6. Light Industrial Units
They are strategically located and multi-purpose.
It offers multi-purpose warehouses at strategic locations, which aid in logistics. It has excellent infrastructure and grade-a build standards. Some other features of the warehouses are:
– Internal Light Fitting
– 24*7 security
– Amazing fire protection systems
– On-site parking and loading area
– 5000-11000 sq. ft.
Other facilities that can be availed:
1. Innovation Centres- They are created by the partner companies to foster innovation.
2. Venues- There are multiple venues available perfectly suitable for all cultural, social, and corporate events. Various concerts, festivals and award shows can also be conducted.
3. Retail and Dining
6. Hotels- All types of luxury and business hotels are available to stay in close proximity.
The various business activities permitted in DIC
DIC Business Activities
1. Internet and Multimedia
2. Software- development, modification, installation
3. Telecommunications and Network
4. IT Service- development and provision of IT services
Dubai Internet City Company Formation and Registration Process
DIC Business Setup step-by-step procedures
1. Submission of application and all the required documents
2. Sending all the legal documents for checking
3. Signature and return of Customer Confirmation Letter and making the concerned payments
4. In the case of FZ-LLC, signing of Articles of Association and Memorandum of Association, collection of Bank Introduction Letter, and attested resolution
5. In the case of FZ-LLC, a bank account needs to be opened, and share capital needs to be deposited
6. The signing of the Lease Agreement and Personal Sponsorship Agreement and then collection of the license
Documents required for Dubai Internet City Company Formation
Documentation at DIC
|Individual Shareholder||Corporate Shareholder||Some licensing regulations|
|Application for Registration||Application for Registration||All the business activities being undertaken must be in compliance with Dubai Technology and Media Free Zone Licensing Regulations.|
|Personal KYC||Corporate KYC which should be duly attested from the UAE Embassy||Licenses are only valid for the business activities that are undertaken within DIC.|
|A Board Resolution which calls for the establishment of the company||Board Resolution which calls for the establishment of the entity||The clients have to lease a DIC facility.|
|Letter from the bank which gives confirmation of the deposit of share capital||Corporate Documents of the Parent Company such as Certificate of Incorporation, Memorandum of Association and Articles of Association||The licenses and permits are valid for a year and are renewable annually.|
|Other routine documentation such as application forms, specimen signatures, and others||Other routine documentation such as application forms, specimen signatures, and others|
Frequently Asked Questions
Dubai Internet City
The minimum paid-up capital requirement for FZ-LLC is AED 10000, and there’s no minimum capital requirement if one is starting a branch of an existing UAE/foreign company.
Yes, subject to approval by Dubai Development Authority (DDA), a license from another free zone in UAE can be transferred to DIC.
Yes, one needs to maintain 80 sq. ft. of space per employee.
On submission of all the required documents and payment of fees, the license is issued in 48 hours. Each license is valid for a year and renewable thereafter.
N R Doshi & Partners make it easy for you to setup a business in Dubai. We are one of the leading business setup companies in UAE. We offer comprehensive company formation services to help investors establish their business in the UAE in a hassle-free way.