Dubai Internet City DIC Free zone Business Setup Guide
If you are a business person who would like to set up his own company in Dubai, then this guide is for you. This free zone business establishment guide for Dubai internet city will help you understand the free zone procedure in Dubai. These step-by-step guides can be useful for anyone looking to start up their own business in Dubai. The basic information on how to set up a company in Dubai along with information on Dubai business visa, trade license, company formation process in UAE, and the required documents are listed here.
Why Dubai Internet City DIC For Business?
Dubai Internet City is one such free zone, located in the heart of the city. It was founded in 2000 and has since become the largest technology hub in the Middle East—and one of the most important worldwide. There are over 100 companies based here now, including Microsoft, IBM, Oracle, Cisco Systems, HPE (Hewlett-Packard), Symantec, Oracle, and many others! The zone also offers financial services like banking and insurance to support businesses as they grow. The Dubai Internet City(DIC)Free zone offers a variety of benefits to businesses looking to set up shop there, including:
- Dubai Internet City is the biggest ICT hub in the MENA region. It provides companies with a tax-free environment and has an existing infrastructure geared towards information technology companies. DIC has freehold offices for sale and leases at competitive rates.
- No personal income tax – You do not need to pay any personal income tax when operating your business from Dubai Internet City (DIC). This makes it one of the most tax-friendly destinations in the Middle East.
- No corporate income tax – As long as you operate within the confines of Dubai Internet City (DIC), you do not need to pay any corporate income tax on profits earned through your business.
- No customs duties – Goods imported into Dubai Internet City (DIC) do not attract any customs duties, which makes it easy for businesses.
- DIC also has flexible office solutions to suit any business needs – from dedicated offices to fully furnished serviced suites. These flexible office solutions(Business centers, commercial offices, and conference facilities) are available on a short or long-term basis with flexible rental terms
- No restrictions on residence visas for foreign employees. and the Immigration process for free zone visas can start immediately.
- DIC is home to some of the most innovative, creative, and exciting companies in the world. As a member, you will benefit from networking with fellow members and access to business events, seminars, and workshops that will help you grow your business. also, it offers its members access to an extensive network of banks, insurance companies, shipping lines, and freight forwarders, which provide an exceptional range of services at competitive rates.
- The ability to set up as an international business without being subject to local laws, and can own 100 foreign ownership.
- There are many legal structures to choose from. such as a Limited Liability Company, Can work as a freelance with a freelance permit, and can open a branch of foreign UAE companies.
What are the various Licenses in DIC and its business activities:
DIC is a subsidiary of the Dubai Chamber of Commerce and Industry. DIC’s main focus is on e-commerce, IT, and telecoms. There are several different types of licenses available:
- A Free Zone License allows you to operate in a free zone area outside of Dubai but within the UAE.
- A multimedia license allows companies to broadcast content online via websites, social media accounts, and mobile applications.
- IT services license allows companies to provide IT support such as maintenance, installation, and training for computers, laptops, and mobile devices.
- A telecommunication network license allows companies to provide telecommunications services such as voice calls, SMS messages, and data transmission through fixed lines or wireless networks
- Data management services – This includes hosting and cloud services, which are available through cloud hosting providers such as Amazon Web Services, Microsoft Azure, or Google Cloud Platform.
- Consultancy License – The DIC works with companies to help them find suitable office space and provides advisory services on how best to set up operations within the zone.
- Retail License or General Trading License or eCommerce License – Customers can sell their products through online marketplaces such as eBay or Etsy, while also offering them through physical stores located within the free zone itself.
- Restaurant – Customers can open restaurants within their offices or use catering services from companies.
Documents required for setting up a business in Dubai internet city free zone:
- Rental Agreement
- Power of attorney agreement – is represented by a local sponsor.
- Passport copy
- passport size photocopies
- Trade name approval copy
- Initial approvals from Freezone authority copy
- Notarized board resolutions -it is required when in case of shareholders involves in the new setup
- Memorandum of association
- Shareholders passport copies
- Bank statement with capital investment
How we can help you in open a company in DIC:
At Legal House Dubai, We offer registration of companies, formation of companies, and registration of branches in the Dubai Internet City Free Zone. We will help you get started with all the legal formalities required for setting up a business here. We take care of all formalities including obtaining licenses and approvals from government agencies, forming of company and registering it with the Dubai Chamber of Commerce & Industry (DCCI), opening a bank account, and much more listed below.
- Obtaining Initial approval from Dubai internet city free zone authority.
- Document submission to get a trade license
- Drafting legal Documents or commercial contracts(POA, MOA, NOC letters, etc.). and if needed we also do notary public attestation.
- Trade name registration
- Establishment card
- Business and Legal Consulting
- Visa Assitance
The Dubai internet city free zone license cost depends on the registering fee, type of business /company, business activity, Freelance permit, Office space, Residency Visa, Commercial contracts, and approvals. If you have any requirements you can feel free to contact us at any time. we are happy to help you.