Company Formation in Dubai Media City
Company formation in Dubai Media City – start your business in Dubai Media City free zone without any hassle and hidden cost. Contact Shuraa Business Setup for more details.
Dubai Media City (DMC) is a thriving commercial space initiated by the Technology, Electronic, Commerce and Media (TECOM) Group. The Media Cluster is the largest hub steadfast on escalating the growth of the media industry in the region. Dubai Media City was established in 2001 and has more than 4,500 companies. Soon after, DMC has established itself as the region’s leading media hub.
DMC free zone is one of the main reasons for Dubai being named “The Capital of Arab Media”. Business setup in Dubai Media City free zone offers a strong demand for quality, affordable settings with international standards, outstanding administrative measures and swift governmental procedures. The DMC free zone determines its ongoing support for developing and nurturing media industries.
Moreover, this free zone encourages the development and progression of its business partners emphasizing Dubai’s apparition of becoming a knowledge-based economy. This makes DMC among the best options for business setup in Dubai free zone.
Adhering to the needs of the business partners, DMC provides state-of-the-art infrastructure, with facilities in real estate such as business centres, boutique offices, and various choices in commercial space. Further, the Dubai Media City exhibits an environment of collective interaction and liberty to the media establishments the area houses.
Global media giants and SME’s including ventures have joined this unique community – making it an ideal space for sectors related to broadcasting, media & marketing services, publishing, music, film, new media, leisure & entertainment, information agencies and more. Also, DMC accentuates an ecosystem of networking, events, mass medium ideas, hospitality and such other sectors.
Advantages of company formation in Dubai Media City
Dubai is undeniably one of the most in-demand locations when it comes to setting up a business. Additionally, the media industry is thriving and continues to grow as days progress. Which makes it one of the ideal places for setting up a business. Some other advantages of setting up a business in Dubai Media City free zone include:
- 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
- International community and collaboration opportunities
Steps to start a business in Dubai Media City
- Submission of the application form
- Submission of all the necessary documents required by DMC free zone authorities
- Issuance of e-agreement
- Sign e-agreement and share capital letter
- Issuance of e-license
In order to start your business in the free zone, the following documents need to be submitted:
- License application form
- Proof of share capital of AED 50,000
- Business Plan
- NOC (applicable only for UAE residents)
- Emirates ID (applicable only for UAE residents)
- Visa Copy
- Passport Copy
- Passport Photo
Legal structures permitted by DMC authorities
- Free Zone Establishment (FZE)
- Limited Liability Company (FZ LLC)
- Free Zone Company (FZC)
- Branch Company
Activities permitted in Dubai Media City
As the name of the free zone suggests, most of the activities permitted by the DMC authorities fall in the media category. Dubai Media City is also known to be one of the most credible media communities in the UAE. The free zone issues professional license to entrepreneurs and is open to a broad range of media-related activities including:
- Media and marketing services
- Event management
- Web design
- Media consultancy
- Brand consultancy
- Social media
- Media support services
- New media
DMC is also one of the few free zones in the UAE that offer freelancer permits.
Dubai Media City license renewal
The renewal process of businesses in Dubai Media City free zone is a highly cost-effective and simple process. You will be required to submit an audit report starting from the second renewal of your company on an annual basis.
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. 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 Media City
Similar to renewal, company liquidation also does not need the physical presence of the owner and can be accomplished through an agent. You will be required to pay the government fee to complete the process of liquidation.
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
Start the process of company formation in Dubai Media City to make a mark in the media industry with Shuraa — one of the best business setup companies in Dubai. Shuraa helps solve your business-related queries and offers you solutions best suited to your company formation in the UAE.
Frequently asked questions about Dubai Media City Free Zone
Free zone jurisdictions do not permit companies registered under free zone authorities to do business on mainland. Most trading companies in free zones are completely restricted from doing business on Dubai Mainland. However, certain professional activities are given leeway.
Yes, you can renew your license remotely using a registered agent with just an authorization letter and renewal fees.
The processing time to start your business and obtain your license in Dubai Media City free zone is about 2-4 weeks.
No, you have 100 % ownership and do not require to have a local partner to start your company.
It is not possible to transfer your company from one free zone to another. You can, however, set up a branch of your existing company in a different free zone.
If you want to have your company in a different free zone, you will be required to liquidate your company in the current free zone and then open your company in a different free zone.