Business Setup In Dubai Internet City (DIC)
Business Formation in Dubai Internet City (DIC)
Although founded in 1999, the Dubai Internet City Free Zone (DIC) didn’t open its doors until the year 2000. It is considered to be a huge technology hub where business owners who are looking to connect and share their vision with others establish their business.
Currently, the big global companies that are situated in DIC are Microsoft, Oracle, HP, IBM, Cisco, Canon, Dell, among many others. There are various industries that are located in DIC, including sales and marketing, ecommerce, and software development.
For businessmen who want to have a business setup in Dubai Internet City, there are choices that investors can choose from: Free Zone Limited Liability Company (FZ-LLC), Branch of a Foreign/UAE Company, and Freelancer. Aside from that TECOM media city has advantages in store for businessmen.
Dubai Internet City business setup, although quite similar with other business setup in Dubai free zones, is done through a systematic process that is expected by this Dubai free zone authority to be followed by business owners so their Dubai Internet City company formation will be done according to the timeframe.
It is not indeed advisable that one should treat business setup in Dubai as a simple task. The processing of TECOM registration and licensing, finding out the TECOM license fees, and ensuring that Dubai freezone company setup cost is correctly calculated—all of these are not easily done. This is why company formation consultants in Dubai exist. These people are the reasons why UAE and Dubai freezone companies were successfully established in the country.
The information that you will be able to obtain from business consultants in Dubai are guaranteed to help you decide on important things before you finally take a step forward towards conducting a business setup in Dubai Internet City. Since they are knowledgeable on the details about business setup, you can use the information about the estimated Dubai free zone license cost and Dubai free zone company formation cost to make a budget plan so you will be financially prepared for the first step of starting an organization. It further helps when you are aware of the Dubai free zone company registration fees so that it will bring you to the closest figure to ensure even more that you are financially prepared. You can file all these information for your future reference and for forecasting.
There are business setup consultants in Dubai for TECOM free zone who are willing to answers to your questions, Dubai Internet City setup cost or documents required for trade license renewal in Dubai (lest you need it in the future). However, it should not be forgotten that they are reached by your side to fully take care of your Dubai Internet City business setup. They will ensure that you have all prepared, such as the amount of your Dubai Internet City license fees, before you open a company in Dubai free zone.
Because of this, it should be noted that the best team should take care of your affairs since it will either lead you to boon or prosper when it comes to Dubai Internet City company formation.
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Following industries you can setup in DIC
We covers all the following industries, even if your industry not in list you can consult with us we can help you setup.
Benefits of Business Setup in Dubai Internet City (DIC)
TECOM media city is in demand when it comes to business owners who are looking to be one of the Dubai free zone companies in the said location. Since more and more investors enter the UAE with a plan to conduct a business formation in Dubai or anywhere in the country, it is indeed seen that the UAE’s rising business setup in Dubai free zones indicate that the nation is known to be a good place for investment and expansion.
A lot of businessmen are looking at TECOM free zone not just because of its competitive Dubai free zone company formation cost. The advantages that can be gained in this zone ensure that the clients are well treated with the best facilities and solutions that will certainly meet their companies’ needs and requirements.
- 100% foreign ownership
- Low-cost operations
- Excellent infrastructure
- Excellent support services
- 100% repatriation of capital/profits
- No currency restrictions
- Tax exemption
Business Setup Requirements & Procedure
Documents Required for Company Formation in Dubai Internet City – TECOM Registration and Licensing
- Application form (our firm’s task)
- Letter of Intent (our firm’s task)
- Your existing company brochure (if available)
- Annual financial report or shareholder(s)’ 6-month bank statement (not applicable for new registration)
- Copy of the manager’s passport and CV
- Copy of shareholder(s)’ passport and CV
- Original (not a copy) bank reference letter (for each shareholder)
- No objection letter by the current sponsor, for the manager (if a resident of UAE and a UAE employment visa-holder)
- Initial approval(s) from the third authority(s) in case your business activities required such approvals, e.g., media, IT, pharmaceutical
- Business plan (we offer business-plan-writing services)
- A legal representative (negotiator)
Additional Documents Required for a Corporate Shareholder and for Branch
- Attested and notarized Memorandum of Association/Article of Association—it must be attested from the UAE Embassy at the place of origin.
- Board resolution to be resolute by the board of directors of your existing company/entity at the place of origin, expressing the intent of establishing a new setup abroad—it must be attested and notarized by the UAE Embassy (template will be forwarded by our firm).
- Certificate of registration (if applicable) of your existing company/entity, license, or certificate of incorporation of your existing company/entity attested and notarized by the UAE Embassy
The procedure of processing your business setup in business setup in DIC will range from 2 to 4 weeks.
Support Services Offered in DIC
FAR Consulting Middle East is one of the leading consulting companies in Dubai that deal with corporate business services Dubai. We assist people who have questions on how to open a business in Dubai.
We can provide the following services when you let us handle your affairs when it comes to company setup in Dubai:
- Applying and following up on behalf of the client until the collection of the Certificate of Business Registration (Trade License)
- Representing the client in front of the authorities
- Assisting the client in bank account opening
- Assisting the client in account opening with the Ministry of Labour
- Assisting the client in account opening with the UAE immigration
- Assisting the client in leasing a premise as an address for the business
Business Setup Cost in Dubai Internet City (DIC)
The Dubai Internet City is known for its competitive market for businesses dealing in the IT sector. The professionals of Farahat & Co have more than 10 years of experience in business setup, and can provide business development advice along with assistance in the process of company formation. The fee table below represents the estimated cost for business setup in Dubai Internet City. Please do contact us for more information on company formation in UAE.
Cost for Business setup in Dubai Internet City (DIC)
Business Registration and Licensing Cost Fees Registration Fee AED 3,500.00 Knowledge Fee & Innovation Fee AED 20.00 Cost by Trade Licence Type (Select one of the following) Service License Fee (Starting from) AED 15,000.00 Freelance Permit AED 7,500.00 Local Branch Company Registration (Starting from) AED 15,000.00 Foreign Branch Company Registration (Starting from) AED 15,000.00 Additional Fees for Business Registration Fee for Any Additional Activity (if applicable) AED 10,000.00 Establishment Online Application (Starting from) AED 10,000.00 Chamber of Commerce Fees AED 2,200.00 Visa Processing Cost Bank Guarantee / Employee Visa deposit AED 2,500.00 Employment/Residence Visa (Select one of the following) Employment / Residence Visa – In Country (Starting from) AED 4,140.00 Employment / Residence Visa – Out of the Country (Starting from) AED 2,720.00 Postal Services Cost Empost Representative Card AED 300.00 P.O.BOX Services Fee (Select one of the following) PO Box Light (Starting from) AED 1,170.00 PO Box Standard (Starting from) AED 2,020.00 Ezimail Bronze (Starting from) AED 3,770.00 Ezimail Silver (Starting from) AED 6,270.00 Ezimail Gold AED 12,270.00