Business Setup in Dubai Internet City Free Zone
The TECOM invested Dubai Internet City (DIC) Free Zone is the leading information and communications technology hub in the Middle East and North African region. The free zone was built to focus on the development of the tech ecosystem and communications sector. Company formation in Dubai Internet City offers its business members a world-class infrastructure and an exceptional community.
Formed in the year 2000 and home to some of the world-renowned companies like Microsoft, Oracle, HP, Dell, Nokia, Samsung, and more, DIC has easily become a hub for IT-related businesses in the UAE. DIC free zone has opened doors allowing international businesses looking for a sustainable and profiting spot for settlement in emerging indigenous markets.
Dubai Internet City is a member of Dubai Holding subsidiary TECOM Investments. DIC is catering to dynamic start-ups that can drive innovation and reflect the vision and mission of Dubai. DIC continues to thrive in IT-related services and only keeps developing further, enabling companies to establish themselves in such lucrative markets.
The strategic location of DIC is one of its major appeals. Located at the centre of Dubai, the free zone has easy access to Sheikh Zayed Road, making the commute much more convenient and enables you to travel to other key points in Dubai much faster. DIC also offers countless amenities with over 80 restaurants, banking, and other business facilities.
Benefits of company formation in Dubai Internet City:
- 100% foreign ownership
- No personal, income, or corporate taxes for 50 years
- Full repatriation of capital and profits
- Ample opportunities for market development
- Digital voice and high-speed data services offered at affordable rates
- Modern communications infrastructure on new innovative technologies
- Commercial offices, business centres, and conference facilities
- Protection of properties and assets
Types of legal entities in DIC:
Business formation in DIC free zone would not enable you to conduct business on mainland. However, the authorities have in place several amenities to ensure the smoothest business setup processes for entrepreneurs and investors. There are various entities that can legally be registered in DIC free zone:
- Free Zone Limited Liability Company (FZ-LLC)
- Branch of a UAE company
- Branch of a foreign company
Business activities permitted in DIC:
DIC aims to open doors for startups and already established companies to venture into becoming a global high-tech company in the region. Hence, all activities allowed by the DIC authorities are IT-related.
- IT services
- Consultancy
- E-Commerce
- Multimedia development and distribution
- Software development, installation, and modifications
DIC license:
When setting up a company in DIC, you will have to pay a one-time fee of AED 3,520. You will be required to pay a license fee of AED 15,020 annually as per the Dubai Internet City. You will also need to acquire a rental agreement which will cost you anywhere between AED 25,000 – AED 120,000 approximately per year depending on your requirements.
It takes less than a week to obtain your license and register your business in Dubai Internet City. You will need to renew the license every year. Any delay in the renewal of your license past the expiry date will result in a fine.
DIC authorities allow all kinds of businesses to be formed but the most prominent licenses issued to entrepreneurs are:
- Software License
- Telecommunications and Networking License
- E-Commerce
- IT Service
- Internet and Multimedia
DIC visa:
There are two types of office spaces you can choose between for your business in DIC free zone.
- Business centre
Shared desk (2 visa eligibility)
Exclusive desk (2 visa eligibility)
2-seater office (3 visa eligibility)
3-seater office (4 visa eligibility)
4-seater office (5 visa eligibility)
2. Commercial space
The cost depends on the location which ranges between AED 175 – AED 190 per sq. ft
You are eligible for one visa every 80 sq. ft (minimum office space available is 700 sq. ft)
Be a part of this innovative city with Shuraa Business Setup. To know more about Dubai Internet City or for queries with regards to company formation in Dubai free zones, contact Shuraa today! Shuraa is a business setup company that provides you with Dubai company registration, business licenses, PRO services, and more. Shuraa offers solutions for your business-related needs with regards to company formation in the UAE.