Dubai Internet City
Dubai Internet City (DIC) is a member of the Dubai Holding subsidiary TECOM Investments. Dubai Internet City was founded in October 1999 and opened its doors in October 2000. As of today, Dubai Internet City is one of the leading technology businesses and community hubs around the globe that caters to high-tech corporations and dynamic start-ups which reflect the vision of Dubai. The DIC directory has evolved to become a mega-hub for global high-tech companies in the regions. While continuing to attract global brands, the Dubai Internet City maps out support for startups and aspiring entrepreneurs that can drive innovation. After all, the Dubai Internet City is home to the in 5 innovation centers, a world-leading tech startup accelerator. With WIS Consultancy, you can now get your tech startup or business in the Dubai Internet City building to leverage on the various infrastructure and support facilities available!
Dubai Internet City (DIC) is the largest ICT hub in the Middle East and North Africa region. The free zone caters to businesses of all sizes, from solo entrepreneurs to multi-national Fortune 500 companies.
DIC spans 1.5m sqft and is home to 10,000+ workers at more than 1,400 companies including prestigious names such as Facebook, Google, and Microsoft.
ADVANTAGES OF BUSINESS SETUP IN Dubai Internet City (DIC)
- 100% ownership
- 100% exemption from customs duty
- Capital Mobility- Easy Licensing- Cyber Regulations
- Protection of IP
- 0% corporate or personal income tax
- No currency restrictions
- State-of-the-art offices
- excellent retail services
- 24- hour security
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TYPES OF LEGAL ENTITIES FOR COMPANY SETUP IN DUBAI INTERNET CITY
The following entities can be legally registered in DIC:
- Free Zone Limited Liability Company (FZ-LLC)
A limited liability company in a free zone can be owned by 1 to 50 individuals or corporate shareholders with a minimum share value of AED 1,000 and a minimum share capital investment of AED 50,000.
- Branch of a UAE Company
This refers to a branch by an applicant who is a UAE resident. It doesn’t have any capitalization requirement.
- Branch of a Foreign Company
A branch of a foreign company in DIC can be formed by an applicant who is a foreign national, and such a company doesn’t have any capitalization requirement.
TYPES OF LICENSE IN Dubai Internet City (DIC)
Software: activities related to developing, installing, and/or modifying software products of the company or of a third party.
E-Commerce: activities related to individual services and products to third parties through electronic media such as an internet search engine, portal, website, social media, etc. for the purpose of facilitating sales activities.
Internet and Multimedia: activities related to developing and/or distributing internet or multimedia content. Other activities may include distributing goods or services via the internet, such as by providing an online platform and acting as an intermediary between multiple companies or multiple individuals.
Additional activities may include providing different applications through a network.
Telecommunication and Network: activities related to developing, installing, modifying, and/or operating networks or providing relevant services designed for operating network-based applications or services for self or for third parties.
IT Service: activities related to developing and/or providing standardized repeatable IT-based services, which may also include security solutions, localization, training, and corporate learning.
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Setting up a company in Dubai Internet City
So, if you’re interested in setting up in a UAE-free zone and are considering your options, here is everything you need to know to decide whether Dubai Internet City is right for you.
- Office and visa options: For entrepreneurs wishing to work flexibly out of DIC, the flexi-desk package is the ideal solution. This allows business owners to make use of office facilities such as desk space, meeting rooms, reception cover and call screening on an ad-hoc basis without the need to commit to physical office space. While the facilities are undoubtedly first class, at AED 25,000 it’s true that DIC’s flexi-package is slightly higher than others in the region. For those looking for more than one visa, or who wish to set up a physical presence in the free zone, DIC also offers the opportunity to apply for one visa per eight square metres of office space.
- Robust setup process: Perhaps unsurprisingly given the stature of many businesses that set up here, Dubai Internet City’s registration process is both comprehensive and robust. Entrepreneurs are required to provide a detailed business plan along with a certificate of incorporation and passport copies for all shareholders. From start to finish, the registration usually takes no longer than one month and you’ll only be required to visit the free zone once – to sign your application documents in front of the relevant authorities.
- Home to a variety of ICT businesses: Perhaps the biggest factor behind DIC’s popularity is that the free zone is open to a broad array of tech businesses. Dubai Internet City welcomes companies across the full spectrum of ICT and online industries, including software, hardware and digital marketing companies. Facebook, Google, Microsoft and IBM are just some of the prestigious organizations that call the free zone home.
- Easy to arrange your corporate bank account: A hugely important task that is often not taken into consideration when setting up a company in the UAE is ensuring you get your corporate bank account open in time. Fortunately, DIC’s helpful staff are on hand to make sure this stage of the process runs smoothly. As well as advising you on the best banks to suit your needs, DIC can also arrange meetings with your chosen financial institutions should you so wish. What’s more, the Dubai Internet City’s robust setup procedures make it well trusted by both local and international banks.
- Sponsor dependants with ease: As well as offering a straightforward process for applying for your own visa, Dubai Internet City makes it easy to obtain visas for your dependants as well. Providing you meet the salary requirements, you’ll be able to sponsor staff and/or family members when making their visa applications. Whether you require a visa for a spouse, child, maid or driver, the process is four straightforward stages: entry permit, status adjustment, a medical fitness test, then Emirates ID registration and visa stamping. As this is such an important process, it’s a good idea to get advice from an expert in setting up UAE free zone businesses – to ensure that before starting an application, both you and those you are hoping to sponsor meet the entry criteria.
- Set up with multiple shareholders: Dubai Internet City is particularly popular among large multinational organisations as it allows for company formation with more than one shareholder. Companies setting up in the free zone are allowed multiple shareholders – both individuals and corporates.
- Work alongside industry giants: While Dubai Internet City may be slightly more expensive in terms of setup and running costs compared to others in the region, it is the place to be for businesses that want to make their name in the tech industry. DIC is the premier address for IT companies in Dubai, offering the opportunity to work alongside tech giants and Fortune 500 companies such as Microsoft, IBM, Dell and Cisco.
- Location, location, location: DIC’s location is also a huge part of its appeal. Centrally located in Dubai, the free zone is just off one of the city’s main highways – Sheikh Zayed Road – making travel in and around the Emirates a breeze. Dubai Internet City is also within easy reach of several major ports and both Dubai International Airport and Al Maktoum International Airport, ideal for business travel and trade. Finally, for those that don’t intend to move too far from the free zones, DIC is well stocked with amenities: home to over 80 restaurants, alongside banking, courier and many other business facilities.
Setting up a UAE free zone company
So you’re sold on the benefits of setting up your business in Dubai Internet City – what next? There are a number of steps that need to be undertaken, some complex, some less so. Usually, the first thing to do is choose your business activity. From here you can decide on your company name, complete and file your registration paperwork with the relevant authorities, open a bank account, and apply for any visas that may be required.
However, the specifics of this process will depend largely on the type of license you are applying for and the kind of business you wish to run. That’s why before starting any of these steps, the first port of call should always be to a company setup expert who will guide you through every part of the application, ultimately ensuring the entire process requires little more than a few hours of your time.
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