What is Dubai Media City All About?
The Dubai Media City (DMC) stands with the words of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, when he said: “If knowledge is power, then the media that brings it to us is the source of that power.”
Launched in January 2001, it has helped in establishing the Emirate of Dubai as a media hub in the country.
With its aura of vibrancy, businesses that are focused on media, advertising, and communication find their place in this location. The dynamic atmosphere that it gives to the businesses that are established in DMC make it unique and a sought-after location by investors coming into the country.
Just last September of 2017, news broke out that DMC has made it into the list of Knight Frank’s Global Cities report. The free zone is just behind Brooklyn, New York and South Lake Union of Seattle with an average rent of $43.55 per square foot. There have been offices created because of the demand for spaces in the DMC. This has helped them to be included in the list.
Why Do Investors Setup Their Tech Companies in Dubai Media City?
Aside from the advantages that are discussed below, there are other reasons why investors find DMC the perfect place for their companies and their needs.
Dubai has industry-specific free zones, and one of them is DMC. As a free zone is focused on one industry, it is able to cater and supply the needs of a company, offering the perfect infrastructures and facilities fit for that certain industry.
For this reason, a first-class ecosystem, atmosphere, environment, and system await investors who are looking to establish businesses that concentrate on all kinds of media (publishing, film, advertising, broadcasting, music, etc.).
The platform that DMC provides to businesses hoping to grow in the media industry is helpful in setting a stage for their products and services. Just some of the big names that trust DMC are CNN, BBC, Forbes, MBC, Sony, Bertelsmann, and others.
Benefits that You Can Take Advantage of in DMC
Just like other free zones in the UAE, a business set up in Dubai Media City would mean obtaining a list of advantages. Many investors catering to the media industry have chosen DMC for the following below:
DMC is known to be a media hub that offers an environment solely dedicated to media and specific subcategories to that where like-minded people with their companies can come together and collaborate for a common goal.
There is an advanced technology that comes with choosing DMC. For an instance, the high-speed date, Metro Ethernet environment, digital voice services, and other technical facilities help in the growth of the companies.
One of the best benefits that can be gained by having a business set up in Dubai free zones is 100% ownership of your business. This is because business setup in UAE mainlands means you need to find a local sponsor who will then have 51% of your company.
Others that are listed in the core benefits are 0% personal income tax and corporate tax for at least 50 years, no currency restrictions, no restriction on hiring foreign employees, 0% customs duties on import and/or re-export of goods and services, and no need of minimum capital investment.
Most free zones are known to have a smooth and quick processing in their location, and DMC is not exempted from that. The simplified processing of papers with 24-hour visa service adds to the reasons why business owners look for DMC as their target location.
Consultants to Help Your Business Setup in Dubai Media City
The experience of FAR – Consulting Middle East that spans more than 30 years is one of the reasons why we are one of the leading business setup consultants in Dubai. Every dilemma imaginable has been dealt with our firm, and every business setup in any location is achievable for us. We simply know how to manage any service you need from us and fix any problem you present to us.
With our trustworthy consultants to guide you, we can provide the right information that you need to know with regard to business setup in Dubai free zones and anywhere in the UAE. We can present you the pros and cons of choosing certain places and advise you on which one best suits the nature of your business.
For more information about the business set up in Dubai Media City or if you have any question with regard to business setup in general, you can contact us and book a consultation. Our consultants will entertain any question you throw at them.