Connecting Markets Business Setup Benefits in Dubai Internet City
Introduction
Dubai Internet City (DIC) gives a learning economy ecosystem system intended to help the business improvement of information and communications technology (ICT) organizations. It is the Middle East’s greatest ICT foundation, worked inside a facilitated free trade zone. DIC is a key base for organizations focusing on developing markets in an immense district stretching out from the Middle East to the Indian subcontinent, and from Africa to the CIS nations, covering 2 billion individuals with a GDP of $6.7 trillion. Business setup in Dubai Internet City Freezone is providing huge opportunities for businessmen.
Numerous small and medium enterprises and entrepreneurial endeavors are also present at Dubai Internet city free zone. The ICT bunch in Dubai Internet City contains organizations from different segments: programming improvement, business administrations, ecommerce, consultancy and sales and marketing.
DIC gives an environment that draws in many components of the value of chain for an ICT business. What’s more, it has created programs that can be utilized by the ICT people group to investigate and extend channel and business improvement openings. DIC gives a cost-effective base to ICT organizations to investigate business openings in the regional market. This office empowers organizations to direct the feasibility studies assess future potential and scout for new business or community oriented ventures and work nearby existing and future endeavors working inside DIC without making a substantial large investment.
Dubai Internet City (DIC) works in the Technology and Media Free Zone and is one of the biggest information innovation parks announced as a free zone by the Dubai Government. Dubai Internet City (DIC) Free Zone is also the largest and major information and communications technology (ICT) and internet communications, technology network in the Middle East and North African region. Dubai Internet City Free Zone was made in 2000 and is currently home to a portion of the biggest multinationals in the world. The DIC was additionally the first free zone to build up the idea of Business Park that also gives accommodation to employees in the IT sector in Dubai. The DIC Free Zone is advanced as the ideal place for foreign and international financial investors tending to rising worldwide markets.
The following ventures get benefits, motivations and support from the regulating authority in the Dubai Internet City Free Zone.
- Civil companies
- Investors setting up IT companies
- Companies involved in the business of network and telecommunications industry
- Companies and businesses engaged in tourism industry
- companies engaged in consultancy services
- Businesses engaged in property management
Requirements for establishing Dubai Internet City Free Zone Company
People willing to invest and setup an organization in the Dubai Internet City Free Zone are required to submit a share capital of 50,000 AED. The company should likewise have no less than one director and also need to open a bank account with a local bank in Dubai, UAE. The accompanying stride will be to draft the articles of relationship for the new organization and submit them with the Dubai Internet City Free Zone governing authorities. The investor will then be required to apply for the business licenses one wish to conduct. The following records must be submitted with the authorities:
- Submit a business and financial plan to DIC authorities
- Submit report and documents of the key activity the company will perform
- Passport copies of shareholders and directors
It may take about four weeks for all formalities to be completed after that a business license will be issued to a company or individual.
Legal structures of DIC
When setting up a company in Dubai Internet City free zone, investor may choose from two different types of legal structures available under the DIC rules and regulations.
- A Branch
- A free zone limited liability company
Branch:
A branch in Dubai Internet city is considered as dependent office of a local or foreign company, and it does not require a minimum share capital at the time of formation or incorporation.
Free zone limited liability company:
A free zone limited Liability Company which can have a minimum of one shareholder and a maximum of 50 individuals or corporate shareholders. Also, it requires a minimum share capital of AED 50,000 for incorporation.
Benefits of Dubai Internet City Free Zone
Here are some of the benefits of Dubai Internet city free zone company incorporation:
- 50 year of exemption on personal, income and corporate taxes
- DIC company formation allows 100% foreign ownership
- DIC business setup allows full repatriation of profits and capital gains
- It offers multi-cultural environment
- It provides access to dynamic international community
- DIC company provides opportunities for networking
- DIC company provides opportunities of market development
- DIC provides state of the art communications infrastructure and innovative technologies
- DIC provides high speed data services/Internet connectivity at competitive rates
- DIC company formation offers commercial offices
- DIC has the facility of Business Centers (Executive Desk and Executive Office)
- DIC has the facility of modern conference rooms
- Simple and easy company formation process
Business setup in Dubai Internet City Freezone is now easy with MSZ corporate services provider. Our business setup consultants are ready to assist you to start your business in Dubai Internet City Free Zone. Got questions? Click Here to Contact MSZ or Email to info@msz.ae