Business Setup In Dubai Knowledge Village (DKV)

INTRODUCTION

Dubai Knowledge Park (DKP) was established in 2003. It is a TECOM free zone, being under the TECOM group. Businessmen who are looking to establish a human resource management or an institution find that a business setup in Dubai Knowledge Village is beneficial to them since this is the only free zone in the world that is designed and made to cater for those kinds of activity. It was founded to hone the talents in the country and have the nation progressed as a knowledge-based economy.

The DKP is a unique business hub as the Dubai freezone companies there are open to offer programmes in Human Resource Management (HRM) and others. It is indeed an education free zone because students who finish the program will obtain diplomas and certificates. The latter is of the highest caliber from the excellent business partners of DKP.

DKP has solutions and support that meet the needs of businessmen who are looking to carry out a business setup in Dubai Knowledge Park. This TECOM free zone has the proper infrastructure and facilities that meet the requirements of the investors who want to conduct a business setup in Dubai Free Zones that are education-related and helps in learning. business setup in Dubai Knowledge Park can be carried out with the business owners having three formation types: Free Zone Limited Liability Company (FZ-LLC), Branch of a Foreign/UAE Company, and Freelancer.

Business setup in Dubai Knowledge Village, like any other free zones, has a procedure that investors should follow to conduct a business setup in Dubai free zones. Since Dubai free zone company formation is not an easy task to handle, business setup consultants in Dubai are advised to be reached by your side. Admittedly, almost every single business setup in Dubai free zones was made possible through the help of the firms that offer business setup services in Dubai. This is for the reason that business consultants in Dubai can provide you the information that you need before you finally decide which location you should choose for your business setup company in Dubai. They will prepare you before you take the first step. It is essential that you are aware of the Dubai free zone license cost for financial planning and even Dubai free zone company registration fees as an additional information for your plan for the first few months or even for the first year of your operation. In addition to the advantages that you gain with having company formation consultants in Dubai, you can pose your own questions that you need answers to, such as TECOM registration and licensing for you to know everything about this certain free zone, TECOM license fees and other free zones’ fees so you can weigh things, documents required for trade license renewal in Dubai for your future reference, etc. Before you decide to go through with business setup in UAE Free Zones, they will ensure that you are fully informed about Dubai free zone authority in the country. The main benefit that you will gain from getting in contact with company formation consultants in Dubai is that they will be the one to ensure that your business formation in Dubai comes to fruition. The right people whom you have on your side can handle your affairs with regard to free zone company setup and makes things easily done.

BENEFITS

Business setup is a known venture that is taken by business owners around the world. Investors who open a company in Dubai free zones are the ones who find the UAE to be a good investment for them.

Dubai free zone company registration in this location happens because there is an increasing number of businessmen who have looking for the exact free zone that they’ve been looking for. In turn, it’s been a good support to the economy of the UAE

One of the benefits of this location is the Dubai freezone company setup cost. Another Dubai free zone benefits that it offers are as follows:

100% foreign ownership

When a business setup is carried out in the mainlands anywhere in the UAE, a local sponsor is required. This local sponsor takes 51% of the shares of the company that will be established. However, if it is a freezone company formation, the investor can have 100% ownership of their own business and not need a local sponsor.

Tax exemption

Even if the value-added tax (VAT) has been implemented and applied to some goods and services, two more important taxes are not mandated by the government, however, to be paid: corporate and income taxes. For businessmen who are looking for this tax exemptions, being in the free zone is the right place for them.

There are a lot more that DKP has to offer. The following additional benefits are listed below for you to see:

• 100% repatriation of capital/profits
• No currency restrictions
• Low-cost of operations
• Excellent infrastructure
• Excellent support services

BUSINESS ACTIVITIES

There are thousands of business activities that business owners are allowed to conduct when they are looking to setting up a business in Dubai Mainland. There are not many limitations when it comes to setting up your business with your chosen activity, giving business owners a wide room in choosing what activity they’d like to have. This gives diversity to the Dubai economy when people can establish a business with their chosen activity without any limitations.

SUPPORT SERVICE

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

TIMELINE/PROCEDURE

After that your application is approved the authority will issue an initial approval for your business, and after that you will :

1.    Choose a ready fitted office space from (DKV) selection that’s the most appropriate size and layout for your business requirements.

2.    OR decide whether you’ll require (DKV) regulated contractors for fit-out service for your office, or if you’ll be doing that independently.

Then, once the office is finalized:

1.    Lease agreement will be prepared

2.    Office keys can be collected.

After thats, we will start the preparation of the legal documents and summation

When all the above is complete, your business license will then be issued along with the share capital certificate if the capital paid in full

The procedure of processing your company formation in Dubai Airport Free Zone will range from 2 to 4 weeks.

REQUIREMENTS

Requirements for Dubai Knowledge Park TECOM Registration and Licensing

• Proof of tradename reservation (our firm’s task)
• Proof of initial approval for the activities (our firm’s task)
• Passport copies of the shareholders
• Passport copy and CV (resume) of the manager
• Personal information sheet of each shareholder and manager (template will be forwarded by our firm)
• Lease agreement (documents)—having a physical address for your business/office is mandatory in the UAE. The rent in average within the free zone area is USD 25 up to USD 45 per sq. ft. (USD 225 up to USD 400 per sq. m.). Our firm can assist you while searching for your physical address. You can learn more about leasing and rental cost here. (This item will be required only after we obtain the initial approval from the authority.)
• Notarized and attested Power of Attorney appointing our firm as your legal representative, so that we can act on your behalf and/or on behalf of the shareholders (template will be forwarded by our firm).
• There are some activities which might require third-party/authority pre-approval—accordingly, additional cost and professional fees might be applicable.
• Also during the process, the authorities might require a few other documents.

Additional Documents Required for a Corporate Shareholder

• Attested and notarized Memorandum of Association/Article of Association—it must be attested from the UAE Embassy at the place of origin
• Board resolution must 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 must be attested and notarized by the UAE Embassy

FEES

Dubai Knowledge Villiage Free Zone License Cost:

The below table shows the estimated cost of business setup in Dubai Knowledge Village, which also includes Dubai free zone license cost. If need be, you can contact us for further clarification and information.

RELATED SERVICES

Besides our job of helping you with your company setup in Dubai, we have more services that we can offer to help you to start your company:

• Applying and obtaining of work permit
• Drafting of labour contract
• Employment visa and residency services
• Medical check-up (required for the residency services)
• Emirates ID card services
• Driving license services for UAE residents
• Wages, salaries, and WPS services (payroll services)
• Housing and accommodation services
• Relocation services for employees and business owners
• Document notarization and attestation services
• Legal translation services
• Custom account opening services
• VAT registration services
• VAT accounting and filling services
• Accounting and bookkeeping services
• Financial audit services
• Official third-party approvals for regulated business services
• Secretarial and management services
• Legal drafting
• LLC memorandum drafting and attestation
• Lawyer services
• Existing business amendment services
• Trademark registration services
• Will drafting and attestation services

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