Dubai Techno Park or National Industries Park (NIP) is one of the Economic Zones World (EZW)’s subsidiaries. It serves as the science and technology place that was formed for the purpose of trading and manufacturing for the diversification of the UAE economy. It aims to be the lead for new technologies’ research and development.
For those interested to conduct a business setup in Dubai Techno Park, there are choices for types of companies that they can choose from: limited liability companies, sole establishments, civil companies, and branch offices. This location is especially a right choice for businessmen who are looking to establish a company that focuses on the fields of applied science and technology.
Since Dubai TechnoPark free zone aims to have advanced organizations to be in one place together, sharing knowledge through research of new technologies, this will open opportunities to investors as well.
Business setup in Dubai Techno Park, much like other business setup in Dubai free zones, follows a system of procedures that ensure the proper and hassle-free processing. This Dubai free zone authority expects companies to follow their procedures as doing so would increase the possibility of being done on or even before the time frame.
Some people perceive business setup in Dubai as quite simple, but it is not so. There are people that investors are advised to be reached out because they are knowledgeable about business setup in UAE free zones, and these people are the company formation consultants in Dubai. They are the same people who have made UAE and Dubai freezone companies to be successfully founded.
Advices can be given by business consultants in Dubai before businessmen can even decide finally on how they’re going to set up a business and in which location. It helps when you are aware of the estimated Dubai free zone company formation cost and Dubai free zone license cost since it will give you an idea just how much you should prepare for the first step of establishing your business. Moreover, to add to the calculation to have the closer estimation, they can also provide you the Dubai free zone company registration fees. This information can then be filed for future reference on the amount that needs to be incurred in establishing your business and to make it function effectively. You can make your forecasts on which quarter of what year you can gain back the said amount.
Even if at the start, business setup consultants in Dubai only give you the information that you need, that is not the only purpose why they are around in the industry. They do not simply provide the details on Dubai freezone company setup cost and the documents required for trade license renewal in Dubai, in case you feel you need it now for your future plans. They are around to help you out on your business setup in Dubai Technology Park. They will be the ones to ensure that you do not have too much burden so they will provide their services to make sure that the procedures are followed thoroughly.
In light of this, choosing the right team is important because your business setup in Dubai Techno Park is on their hands. With the right people, you can be sure that your timeframe is followed.
The rising business setup in Dubai free zones is an indicator that the UAE is seen to be an ideal location for investment and expansion of business. This is why Dubai freezone companies are also increasing because of the advantages that investors gain from them.
Businessmen who are looking to be part of a science and research location wherein big companies are placed together in one place can take a look at Dubai Techno Park because it offers solutions and facilities that meet the industry’s requirements.
People who are planning to open a company in Dubai free zone will enjoy the Dubai free zone benefits below if they choose Dubai Techno Park as their destination.
100% foreign ownership
One of the huge advantages that free zone company setup brings to investors is the 100% ownership. Because a local sponsor is needed in the UAE mainlands before one can conduct a business formation in Dubai, this is considered a very good deal.
The Dubai TechnoPark is located right between a seaport and an international airport, making it the only one in the country. It is at the west of JAFZA, hence, it is indeed near the Jebel Ali Port.
The implementation of the value-added tax (VAT) should not be seen as a negativity altogether. One should look at the brighter side that the income and corporate taxes are not required by the government to be paid. Many business owners look for this kind of tax exemption, and choosing a free zone will give them just that.
The DTP has more benefits that it offers and they are listed below:
- 100% import and export tax exemptions
- 100% repatriation of capital and profits
- No corporate taxes for 15 years
- Allowed to open bank account in Dubai
Businessmen should be aware of the allowed activities in the chosen location before going forth with the plan of carrying out a freezone company formation. The business activities in DTP are mostly for companies that are centered on life sciences, sustainable industrial development, environmental resource management, alternative energy, etc.
For more than 30 years, FAR – Farhat Office & Co. has been providing business setup services in Dubai and all over the UAE. We have all the precise information that you are looking for with regard to business setup. One of the information that we can provide is the estimated Dubai free zone company registration fees so that you can be prepared with the amount needed.
Being your company formation consultants in Dubai, we can do the services below for you for your free zone company registration 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
The procedure of processing your business setup in Dubai Free Zones (Dubai Techno Park) will range from 2 to 4 weeks.
Requirements for Business Setup in Dubai Technology Park
- Passport copies of the shareholders
- Passport copies and CV (resume) of the manager
- Personal information sheet of each shareholder and manager (template will be forwarded by Farhat Office & Co.)
- Proof of trade name reservation (part of the process—task of Farhat Office & Co.)
- Proof of initial approval for the activities (part of the process—task of Farhat Office & Co.
- Notarized Memorandum of Association (MOA), Article of Association (AOA) (Farhat Office & Co. will draft it for you and will assist you in order to get them notarized by a local notary public); in case the shareholders cannot appear in front of the local notary, they can appoint us (Farhat Office & Co.) as a legal representative so that we will be able to act on their behalf
- Notarized and attested Power of Attorney appointing Farhat Office & Co. as your legal representative so that they can act on your behalf/on behalf of the shareholders (template will be forwarded by Farhat Office & Co).
- Lease agreement (a document) showing a physical address for your new business—Having a physical address is mandatory for onshore business in the UAE. The minimum space required is 550 sq. ft. (around 60 sq. m). Your registration agent Farhat Office & Co. can assist you while searching for your physical address. Clients should not enter in any lease contract before we get the initial required approvals.
- Capital—we suggest a minimum authorized capital of AED 150,000 (USD 41,000 approximately). The capital structure is as follows: 51% to be registered for the name of the local citizen “partner” and 49% to be registered for the foreign partners. This formula can be changed by the Ministry of Economy upon the request of the investors, and the Ministry will look into the matter. The Ministry will assess and evaluate, and they will agree in case the business/the project will add material value to the state/country’s economy. Depositing/paying the authorized capital is not mandatory in most cases.
Additional Requirement Applicable for Corporate Shareholders (Legal Person)
- Board resolution to be resolute by the board of directors of your existing company/entity at the place of origin, expressing their intent for establishing a new setup abroad—it must be attested by the UAE Embassy (template will be forwarded by Farhat Office & Co.).
- Certificate of registration or business license or certificate of incorporation of your existing company/entity at the place of origin—it must be attested by the UAE Embassy.
- Memorandum of Association (MOA) of your existing company/entity at the place of origin—it must be attested by the UAE Embassy.
- Article of Association (AOA) (if any) of your existing company/entity at the place of origin—it must be attested and notarized by the UAE Embassy.
- There are cases that a concerned party may require documents and other requirements
- In some business activities, such as health care, law firm, education training, transportation, construction and contracting, engineering consulting, etc., no objection and permission will be required as mandatory requirements. If your business requires such pre-approvals and/or permissions, there will be an additional cost and additional professional fee for Farhat Office & Co.
Dubai Company Registration Cost:
The below table shows the estimated Dubai freezone company setup cost in Dubai Techno Park, which also includes the Dubai free zone license cost. If need be, you can contact us for further clarification and information.
|Dubai Free Zone Company Formation Cost – Dubai Techno Park|
Table of Estimated Government Cost and Professional Fees
|Trade License Option/Activity||Cost in USD||Cost in AED|
|Industrial License||USD 2,570||AED 9,375|
|Specific Trading||USD 2,570||AED 9,375|
|Oil & Gas||USD 3,425||AED 12,500|
|Real Estate||USD 5,135||AED 18,750|
|Aviation||USD 5,135||AED 18,750|
|General Trading License||USD 5,135||AED 18,750|
|Specific Services||USD 2,570||AED 9,375|
|Oil & Gas||USD 3,425||AED 12,500|
|Freight Forwarding||USD 2,910||AED 10,625|
|Real Estate||USD 5,135||AED 18,750|
|Aviation||USD 5,135||AED 18,750|
|Our Firm’s Professional Fees||USD 5,000||AED 18,365|
ATTENTION – NOTE