The Dubai Science Park (DSP) is also known as the Dubai Biotechnology and Research Park (DuBiotech). The free zone was established in 2005 with the goal to accommodate companies that encourage the biotechnological sectors and pharmaceutical industry in the country.
DSP was developed by the TECOM group. The Dubai Science Park free zone is the only commercial jurisdiction in the world to offer companies and industries dedicated to life science.
With a vision to establish a knowledge-based economy, the DSP free zone provides a unique business environment with specialised infrastructure, supportive facilities, expansion and variation in the capital movement.
Encouraging scientific entrepreneurship, the Dubai Science Park free zone assists in creating alliances and affiliation with renowned specialised hospitals, science-related institutes and more. This develops a regulatory chain of science sectors – providing a platform to multinational companies and SMEs fostering an environment that accentuates innovation, knowledge-based economy and research.
Dubai Science Park free zone is a genuine life science hub. Moreover, in future, the UAE anticipates encouraging local manufacturers to produce drugs and bio-science related inventions here instead of relying on imports – while some of the industries at DSP have already initiated this attempt. This makes a significant endorsement of the facilities at the Park and also portrays Dubai as an epicentre of life science.
The various legal entities in DSP are as follows:
The jurisdiction is one of a kind and offers entrepreneurs the opportunity to venture into the world of life science. This also comes with plenty of benefits for entrepreneurs who want to set up a business in DSP free zone. There benefits are:
The various licenses provided by DSP authorities are:
The cost of obtaining a license in Dubai Science Park is approximately AED 15,000.
Some of the business activities permitted in DSP free zone are:
The various facilities offered in Dubai Science Park are as follows:
The renewal process of businesses in DSP 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.
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 a government fee to complete the liquidation process.
Company liquidation takes about 1 month to be completed and involves the following steps:
To find out more about various options to set up your business in Dubai Science Park, contact 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.
To get started on your business journey and find out more, contact our expert consultants at +97144081900 or send a WhatsApp message on +971507775554. You can also drop in an email at [email protected] and get your queries answered in no time.
The difference between free zone and mainland is that companies incorporated on mainland are licensed by the Department of Economic Development (DED) in the emirate where it has been formed. Mainland companies can also conduct their business locally and internationally without any restrictions.
On the other hand, free zone companies are incorporated and licensed by the jurisdictions where the company is formed. They have their own set of rules and regulations. They can conduct business anywhere in the UAE free zones and/or internationally. However, business to business activities can be conducted anywhere within the UAE.
Yes, you can renew your license remotely using a registered agent with just an authorization letter and renewal fees.
It takes less than a week to get your license to start your business in DSP.
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.
Free zone companies are permitted to open their branch companies on mainland. In order to accomplish this, the investor needs to register his branch using the same trade name with the Department of Economic Development (DED) and Ministry of Economy. The branch company can be solely owned by the free zone entity.