Business Setup In Dubai National Industries Park Free Zone
Business Formation in Dubai National Industries Park Free Zone
Dubai National Industries Park (NIP), previously known as Dubai Techno Park, fast tracks the expansion and growth of the region’s industrial sector for its cost-efficient facilities, including warehouses, workshops, factories, manufacturing plants, commercial office spaces, logistics solutions, open storage yards, retail showrooms, and labor villages. The sought-after industrial complex caters to light and heavy manufacturing companies dealing with food and beverage, mineral products, chemicals, mechanical equipment, machinery, logistics, base metals, and transportation equipment and parts.
As with all free trade zones in the UAE, the district offers several advantages for business setup, including:
- Capital and income repatriation to parent companies (for foreign subsidiaries in the free zone)
- Lenient tax policies for imports of raw materials, equipment, and machinery for production
- Tariff-free access to Gulf Cooperation Council and Middle East and North Africa (MENA) markets (as stipulated in the UAE Free Trade Agreement)
- Well-structured business environment
- No red tape or unwarranted bureaucracies
- Availability of skilled, multi-lingual employees
For a successful setup of your business venture, seek FAR Consulting Middle East’s assistance. The firm’s business setup specialists can provide expert guidance in undertaking the crucial steps for company formation, which are as follows:
Business setup plan
Prior to starting a business setup process, you first need to assess whether you can legally establish a business presence in Dubai National Industries Park. For this stage, our experts will check if you are eligible for an investor or residence visa and help you evaluate the likelihood of your proposed business to get the approval from the Dubai NIP Authority.
Business legal structure
There are two kinds of companies that are allowed to be formed in the district: Free Zone Limited Liability Company (LLC) and Branch of a Foreign or UAE Company. Shareholders of an LLC in the economic zone can be corporates or individuals, and the company must have a director. The capital requirement for the company is set at a minimum of AED 50,000.
A foreign/UAE company branch, on the other hand, can conduct the same activities as its parent company that’s established and registered in jurisdictions other than Dubai National Industries Park. There is no minimum capital required for the setup of such kind of legal business entity.
Types of Licenses
As we’ve handled thousands of company formations in a span of three decades, our experts can help obtain the licenses and permits required by regulatory bodies to operate in the district. There are four different kinds of business licenses issued by NIP Authority and they are as follows:
- Industrial license – a prominent type of license issued in NIP, an industrial license allows the holder to carry out production and/or manufacturing processes, including textile manufacturing, manufacturing of equipment and engines, casting of metals, paper manufacturing, and manufacture/refinery of petroleum products;
- Service license – a firm providing services such as consulting, auditing, accounting, and management may operate in DIC with a service license;
- Trading license –buying and selling of goods can be carried out with a trading license, but storage and warehousing are also permitted under the same license;
- Commercial license – for carrying out commercial activities within the district including import, export, and sale of electronic gadgets/products, real estate, and construction materials.
For a license to be issued, our business setup team will help you obtain, draft, and/or submit the necessary requirements, including the following:
- Application form with all correct entries (company name is mentioned in both Arabic and English);
- Lease agreement/contract for the registered address of the company;
- Permit issued by authorities for the use of commercial space, warehouse and/or plant;
- Receipt of fee payment for issuance of licensing;
- For manufacturing, report containing factory’s plans, purpose of factory opening, and complete data on production cost, capital, production tools, and financing for factory acquisition;
- Copies of identification documents for non-citizens;
- Feasibility study;
- Partnership contract (for a partnership firm);
- Balance sheet
Trade name registration
We’ll allow our team to reserve a name for your business, as needed. Also, our business setup consultants provide support in terms of the selection of a company name as there are certain stipulations that require adherence when setting up a business in the UAE, including Dubai National Industries Park. Lastly, we’ll help ensure your trade/company name doesn’t breach intellectual property rights.
Dubai National Industries Park offers companies an industrial complex that promotes innovation, production, logistics, education, and an array of state-of-the-art facilities. The economic zone is especially attractive for investors and corporations targeting global market penetration.
FAR Consulting Middle East has experts that will assist you on all aspects of company formation in the free trade zone, ensuring your business licensing, registration, banking, leasing, visa, VAT registration, taxation, and accounting are all handled by skilled professionals. Our experience in dealing with authorities can speed up the process of business setup in Dubai National Industries Park.
Contact us today, so we can book a free consultation for you with our business setup consultants!
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Following industries you can setup in DNIP Free Zone
We covers all the following industries, even if your industry not in list you can consult with us we can help you setup.
Business Setup Requirements & Procedure
The documents required for company registration and to operate in Dubai National Industries Park include:
- Letter of intent
- Application form
- Certificate of registration
- Board resolution expressing intent of opening a branch in the free trade zone (for foreign/local parent companies)
- Memorandum of Association or Article of Association duly attested and notarized
- Initial Approvals from concerned authorities, depending on business activities or industry e.g. pharmaceuticals, oil and gas
The process of Dubai National Industries Park takes approximately two to four weeks to complete with the assistance of FAR Consulting Middle East’s business setup team.
- The procedure of processing the company setup would range from 2 to 4 weeks.
Support Services Offered in Dubai National Industries Park
For business setup in Dubai National Industries Park, companies have to go through an extensive process for its completion. Our team’s collective experience on free zone company formation in UAE not only increase the likelihood of a swift incorporation or registration, but also help ensure the task is done in the most cost-effective way possible. Our business setup service for Dubai National Industries Park includes:
- Business setup consultation
- Expert guidance on selection of kind of legal business entity to establish
- Trade name and mark selection, reservation, registration, and protection
- Review, compilation, and submission of necessary legal documentation
- Opening of company bank account
- Visa processing
- Accounting and bookkeeping (addt’l fees required)
- Tax consulting (addt’l fees required)
Business Setup Cost in Dubai National Industries Park
Farahat & Co has a dexterous business development team that can help in the process of business setup of industries in the National Industries Park. The below fee table represents an estimation of the costs for setting up a business in NIP. Please do contact us for more information on company formation in Dubai.
Cost for Business setup in Dubai National Industries Park (NIP)
Business Registration and Licensing Cost Fees Application Fee AED 525.00 Knowledge Fee & Innovation Fee AED 20.00 Registration Fee (Starting from) AED 5,000.00 Specimen Signature AED 100.00 Board Resolution AED 200.00 Cost by Trade Licence Type (Select one of the following) Commercial License Fee (Starting from) AED 5,500.00 Setting up a branch office (Starting from) AED 5,500.00 Setting up a Branch of a Foreign Company (Starting from) AED 5,500.00 Additional Fees for Business Registration Miscellaneous Fees (Electricity & Water connection; Telephone and Fax connection; Name Plate and Office Locks) AED 1,500.00 Establishment Online Application AED 2,500.00 Computer Immigration Card AED 2,000.00 Chamber of Commerce Fees AED 2,200.00 Visa Processing Cost Bank Guarantee / Employee Visa deposit 1.5% of basic salary + one-way ticket Emirates ID Application and Medical Test AED 1,240.00 Employment / Residence Visa (Select one of the following) Employment / Residence Visa – In Country AED 4,809.00 Employment / Residence Visa – Out of the Country AED 4,021.00