Company formation in Dubai Academic free zone is an opportunity for business-oriented entities and also holds a special place for companies in education and knowledge development sector. The main purpose of Dubai Academic City is to develop the Emirates’ workforce and set up the grounds for a knowledge-based economy. Business Setup in Dubai International Academic City offers facilities for students such as free visa and tax-free business. DIAC is having a view of providing even better developed service to the national and international students with various institutions from all over the world. Step by step procedure start a business in DIAC are as follows
- Selecting a legal structure
The procedures to start a business in Dubai international academic city begins with selecting the legal structure of the company. Types of legal entities allowed in DIAC are as follows:
- Free zone company (FZCO): this type of company is similar to limited company that operates within the free zones. Shareholders may be individuals or corporate entities.
- Branch setup: Existing companies can establish a branch of a parent company in DIAC
- Submit the application:
filling up the application of business set up by attaching the required documents and submit it for initial approval from relevant authorities.
- Submit the legal documents
submit all the legal documents regarding the company for registration process. documents such as
- Company registration application
- Personal details of shareholder
- Original memorandum and articles of association
- Registration and license fee
- Proof of share capital
- Sign and return the customer confirmation letter:
sign and retune the customer verification and market payments to the required person in DIAC.
- Sign memorandum and articles of association:
sign all the important documents regarding the company to proceed with the further process.
- Deposit the share capital
open a bank amount in the name of the company, deposit share CapitaLand take proof of the capital letter to DIAC.
- Sign the lease and personal sponsorship agreement
Sign the leasing agreement and personal sponsorship agreement from the taco leasing department and collect the license for the business activity. The exact procedures for business set up in free zones in mentioned in The Official Portal of Dubai Development Authority (DDA)
Activities permitted in DIAC
- Higher education
- Online university
- Boarding school
- Educational services
Business Setup Consultants in UAE
To avail the above-mentioned benefits, you may approach a business consultant so that you can focus solely the business activities of the company. So, if you are looking forward to setting up the business in DIAC consult FAR Consulting Middle East. We commit to take care of all the formalities in your company formation process and shall be happy to assist you. For further queries do contact us.