BUSINESS SETUP in Dubai knowledge village

Launched in 2003, Dubai Knowledge Village (DKV) free zone is a part of the Technology, Electronic, Commerce and Media (TECOM) group. It is also commonly known as Dubai Knowledge Park (DKP). The jurisdiction is the world’s only free zone that caters exclusively to sectors. Additionally, this includes human resources management, educational universities, training institutes, and more.

Knowledge Park in Dubai is an ideal place for free zone company formation as it gives prominence to the vision of a new Dubai ahead of Expo 2020. Moreover, the DKV free zone defines the key concept of Dubai’s knowledge-based economy.

Dubai Knowledge Village business setup requires companies to take approval from Authority of Dubai technology and media free zone. Furthermore, the shareholders of the company can be either individuals or corporate entities.

DKV free zone business setup in Dubai is ideal for international institutions, foreign universities, training programs and HR consultancies. The big names in the region include Institute of Management Technology (IMT), Esmod, Heriot-Watt University, Manipal Dubai, and over 450 other business partners.

Business structures permitted in Dubai Knowledge Village free zone

• Free Zone Limited Liability Company (FZ-LLC)
• Branch company

Advantages of business setup in Dubai Knowledge Village

Dubai Knowledge Village business setup provides efficient perspective and detailed insights on human resources. The skill-centric strategy has encouraged industry leaders to participate in this one-of-a-kind free zone business setup. Furthermore, the main aim of the free zone is to develop and grow Dubai’s talent pool as well as establish the UAE as a knowledge-based economy. There are various benefits of setting up a company in DKV free zone, these are as follows:

• 100% foreign ownership
• No personal, income, or corporate taxes
• Dynamic international community
• Full repatriation of capital and profits
• Strategic location boosting opportunities
• Simple and quick set up process

Licenses offered 

Establishments based in Knowledge Village in Dubai are licensed and registered by Dubai Creative Clusters Authority (DCCA). The process of obtaining a license from Dubai Knowledge Village free zone can take up anywhere between 4-6 weeks. DKV free zone issues specific kinds of licenses, these include the following:

• Commercial license
• Professional license
• Freelance permit

Dubai Knowledge Village license renewal

The renewal process of businesses in Dubai Knowledge Village free zone is a highly cost-effective and simple process. You will have to submit an audit report starting from the second renewal of your company on an annual basis.

Moreover, in order to complete the process of renewal for your company, you will need to pay the renewal fee and submit the signed lease agreement for your facility. Additionally, an advantage is that your physical presence in the UAE isn’t required for renewal and can be completed through an agent.

Business liquidation in Dubai Knowledge Village

Similar to renewal, company liquidation also does not need the physical presence of the owner and can be accomplished through an agent. However, it is a requirement to pay a government fee to complete the liquidation process.

Company liquidation takes about 1 month to be completed and involves the following steps:

• Cancellation of visas
• Termination of the lease agreement
• Closure of bank account

Be a part of the DKV free zone and embark on a new age of fostering knowledge, innovation and creative thinking. To find out more about various company formation options in Dubai Knowledge Village free zone, contact Shuraa – one of the best business setup companies in Dubai. Shuraa helps solve your business-related queries and also offers you solutions best suited to your company formation in the UAE.

Frequently asked questions about Dubai Knowledge Village free zone