The Dubai Internet City has made its place in the Dubai marketing industry. It is the IT hub and has advanced itself in the industry. It has been one of the most preferred locations for businesses and provides them with an opportunity to get exposure to the Asian and international market.
The strategic location of the free zone is one of the major reasons why people from all over the world plan to invest here. There are companies from all over the world who have set up here. Setups from sectors like Internet, E-commerce, multimedia, consultancy, etc are prominent here.
Read this blog to know more about the Dubai Internet city Free Zone
What are the advantages of starting a business in Dubai Internet City Free Zone?
There are many advantages to starting a business in the Dubai Free Zone. Some of the major advantages are-
- 100% ownership of the company as an expat
- 100% repatriation of the funds and profits of the company
- No income tax
- Exemption from corporate tax for specified years
- No restrictions of currency
- Cyber security
- International community
- Setup in the most renowned IT hub
- Strategic location
- Access to the Middle East and international market
Types of companies that can be opened in the free zone
The types of legal entities that can be opened in a free zone are-
- FZ LLC
- Branch of a foreign company
- Branch of a UAE company
How to set up a company in the Dubai Internet City Free zone?
There are a few easy steps that can be followed to set up a company in the Dubai Internet City Free zone. These steps are as follows-
- Select the legal entity of your company – Select the legal entity of your company. This decides the number of shareholders and the other rules and regulations of the company.
- Choose a trade name for your company- Select the most appropriate trade name for your company. Keep in mind that this name will be the identity of your company.
- Apply for your company’s licence- Apply for your company’s licence after deciding the trade activity. Different activities may require different licences.
- Open a corporate bank account- A corporate bank account is one of the most essential steps to ensure that the funds of your company are well managed.
- Choose your office space- Choose an office space that will be best suited for your business needs.
- Submit the application- Submit the application to the concerned authorities and take all the necessary approvals.
- Pay the required fees- Pay all the required fees for your business setup and licence.
- Collect your licence- Collect your licence once all the approvals have been taken and done.
What are the most prevalent licence types for business setup in Dubai Internet City Free Zone?
The most famous business licence for business setup in Dubai Internet City Free Zone are the following-
- Software development licence
- Telecommunications and networking
- IT services
- E commerce licence
- Broadcasting licence
- Management licence
- Entertainment licence
- News agency licence
What are the required documents for business licences in the DIC?
The required documents for business licences in the DIC are the following –
- Passport copies
- 2 Passport photographs
- Memorandum of association
- Power of attorney if applicable
- Applicant’s CV
- Business plan
- Any other necessary documents for company setup
How much does setting up a company in DIC cost?
Setting up a company in DIC costs differently depending on various variables. These variables are dependent on your personal and company’s requirements. It is however difficult to figure out the exact cost of your company’s setup. This is why entrepreneurs are advised to take help from business setup consultants in the UAE. You can also enter your details in the RadiantBiz cost calculator. This way you can get to know the exact cost of your business setup and plan your budget accordingly.
How can RadiantBiz help you in setting up your business in DIC?
RadiantBiz is a team of business consultants in Dubai with years of experience. We bring you the best options for your business and help you stay within your budget. Our experts provide you with customised plans for your business setup to help you succeed. Choose what’s right for your business with RadiantBiz. Contact us today to get started now.