Are you considering starting a new company setup in Dubai free zone? No matter how new or experienced, everyone in business can find their home at Dubai Internet City (DIC). Dubai Internet City Freezone is the biggest Information and Communication Technology area in the Middle East. Its objective is to encourage innovation, teamwork, and growth among businesses. So, let’s learn about how you can set up company in Dubai Internet City and its benefits.
What Is Dubai Internet City (DIC), UAE?
The Dubai government founded Dubai Internet City (DIC) as part of TECOM Group to create an ideal setting for businesses and entrepreneurs in digital markets. As part of the Dubai Technology Entrepreneur Campus (DTEC) and running under the Dubai Development Authority (DDA), DIC makes IT, software development, AI, blockchain, and telecom companies eligible for tax-free status, 100% foreign ownership, and an easy process to set up a freezone company.
In addition to its state-of-the-art infrastructure and skilled workforce, Dubai Internet City’s convenient location in Dubai helps the UAE realise its global digital and innovation-focused vision.
Why It Is Beneficial to Start a Company in Dubai Internet City Free Zone?
Company formation in Dubai Internet City has several advantages:
- Unique Tech Ecosystem: Being in DIC is unlike an office park because it brings together large tech companies, business growth, incubators, and VCs, helping them find easy partnerships.
- Access to Government-Driven Programs: Companies that are members of DIC can benefit from programs like Smart Dubai, Dubai Future Accelerators, and Dubai 10X, which provide early opportunities.
- Niche Licensing for Technology Industries: DIC free zone authority issues business licenses that fit IT services, e-commerce, blockchain, AI, and cloud computing, making sure your business follows the necessary rules at all times.
- Infrastructure for Tech Scale-Ups: Thanks to fully equipped coworking, research labs, and data centre options, DIC enables tech firms to avoid the difficulties of scaling up.
- Access to Knowledge and Talent Hubs: DIC businesses are located near famous universities and coding schools in Dubai Knowledge Park, making it easier for them to find local and international tech experts.
- Regional Thinking Involvement: DIC organises leading conferences, hackathons, and networking events, making it well-known and active in the industry.
- Tax Savings: If your business setup in Dubai Internet City earns more than 3.67 AED* in profits, you can save on personal tax.
- Straightforward Business Setup Process: The formalities involved in forming a company in DIC are quick and easy. The process of company registration normally takes one week to complete. Moreover, you can take help from a business setup consultant like Xpert Advisory. We have helped many business owners establish their businesses in Dubai.
- Pro-Business Policies: Dubai Internet City offers flexible options for starting a business in this free zone.
- Full Ownership: You are the full owner of your company if you set up a company in Dubai Internet City. Your company can transfer every dollar of profit back to its owner.
- Trade Currency: Currency is available and can be used freely within the free zone of DIC. It allows businesses to operate with companies in any part of the world.
What Type of Business Licenses are Available in Dubai Internet City?
Various business activities in Dubai Internet City are supported by licenses that are available for specific purposes.
- Commercial License: Needed for import, export, or selling and distributing goods.
- Service License: For any business that provides consultancy, IT support, marketing, or advertising services.
- Industrial License: Used for companies in light manufacturing and other industrial activities.
- Freelance Permit: This is for anyone who wants to work independently as a sole entrepreneur or freelancer.
- Specialised Licenses: Created to accommodate the software, internet, multimedia, telecommunications, IT services, data centre, advertising and communication, media and marketing services, gaming and e-sports, and e-commerce sectors.
Documentation You Need to Set Up Company in Dubai Internet City
The following are the important documents you need for establishing a business in Dubai Internet City:
For People Applying On Their Own
- Official lease document for an approved office in Dubai Internet City
- Notarised Power of Attorney (for those choosing a local representative)
- A personal information sheet has been completed for the applicant and all shareholders and managers.
- The regime also requires copies of the applicant’s or shareholders’ passports.
- Applicant’s resume/CV
- Authority from the DIC is needed for the business’s initial plans.
- Approval of the trade name’s certificate
- The investment must be at least AED 50,000*.
- Any further papers the registrar may need
For Companies Considering Shareholder-based Corporate Applicants
- A fully notarised business license or incorporation certificate that was issued to the company by the UAE Embassy in its original country
- A board resolution, notarised by the board, indicating the new business structure in Dubai
- Providing the physical address of the business that exists
- A Memorandum or Articles of Association that have been notarised for the present company
- Signing a lease for business space in Dubai Internet City
- Each designated manager must provide copies of their passports and their CVs.
- The holder information sheets for shareholders and managers are complete.
- DIC gave approvals to start the process and provide the trade name.
- A minimum capital investment of AED 50,000* is required.
- Any more documents as needed
For Branches of Foreign Companies
- Duplicate passport pages of shareholders
- CV and passport for the manager chosen for the branch
- Filled out all the personal information sheets.
- Certificates verifying the approval of a company’s trade name and initial activities
- Validated Memorandum or Articles of Association for the first company
- Resolution approved by a notary for setting up the branch
- A certificate of registration and good standing for the parent company, notarised by the UAE Embassy
- Aside from the main documents, additional documents are handed in as needed.
Steps for Business Setup in Dubai Internet City
Dubai Internet City company formation must follow a set of clear steps to make sure it is legal and set up efficiently. Here’s how you can go through the DIC free zone company formation smoothly:
1. List All of Your Business Activities
First, select from a wide range of business activities your company will perform, which will show what kind of license you require. Picking the wrong license type during business registration might cause complications and influence the issuance of a bank account and visa for all team members.
2. Choose the Right Type of Legal Structure
Decide on the type of legal entity your business should be when operating in DIC. These main options are:
- FZ-LLC (Free Zone Limited Liability Company) – A form selected by individuals and corporations setting up new companies.
- Branch Office – Intended for companies that exist in the UAE or elsewhere and wish to be located in DIC.
3. Attach All Necessary Documents to Your Application
Submit the required documents together with your completed business application. Be sure to talk to the experts and give them all the documents that the registration authorities need.
4. Receive License and Company Documents
With an approved application, you will be sent the main company documents as well.
- Certificate of formation
- Business license
- Share certificate
- The Memorandum & Articles of Association
- Contract for office lease
- Supported business plan
5. Get Your Establishment Card
Fill out the application for your establishment card and collect it to see your company’s data and the quota for visas allowed. This part of the procedure usually takes 3 to 5 days.
6. Request an Entry Permit to Visit the City
Those outside the UAE have 60 days from the date their visa is issued to go through the medical checks and biometric scans. If you’re currently in the UAE, your visa status will change with a simple status update process. Your application will be processed in about 5–7 days, depending on the number of requests in the system.
7. Sign Up for the Complete Medical and Emirates ID System
Complete a medical exam and provide all required documents to get your residence visa in the UAE. You will be required to give biometric details for your Emirates ID as well. Normally, the surgery can be completed in one day per procedure.
8. Get Your Emirates ID
If your biometrics are accepted, your Emirates ID will be prepared and sent to you within 5–7 working days.
9. Bank Account for Company Formation
Once everything for your company incorporation and visa is sorted, you may apply for a corporate bank account in the UAE. Once your account is set up, you’re all set for company formation in DIC.
Final Words
If you wish to set up company in Dubai Internet City, it gives you access to unique benefits and the possibilities offered by the region’s expanding digital economy. Because of its advanced system and simple method for starting up, DIC makes it easy for startups, SMEs and multinational companies to expand operations and take advantage of tax benefits, full foreign ownership and connections to international markets. You can start a business in Dubai in AI, cybersecurity, blockchain or digital media at Dubai Internet City, where sustainable growth and important innovations are easy to achieve.
So, have you decided to launch your digital business in Dubai Internet City? Contact Xpert Advisory to gain insights regarding different factors related to the process and get expert assistance with company formation!
FAQs
Are Companies In the DIC Freezone Permitted to Engage in International Business?
Dubai Internet City free zone companies are allowed to participate in international business dealings with clients in other countries. Still, these activities are regulated by relevant rules and require licensing.
What Types of Business Activities In Dubai Internet City Free Zone are Not Allowed?
Banking, insurance and retail operations are not allowed in the free zone.
How Much Time Will It Take to Obtain My License and Register My Business In DIC?
You will be able to get your license and register your business in Dubai Internet City in less than one week. The license must be renewed annually. If your license is not renewed by the expiry date, you will be fined.
