Dubai Internet City (DIC) operates in the Technology and Media Free Zone and is one of the largest information technology parks declared as a free zone by the Dubai Government. Dubai Internet City Free Zone is also the largest ICT (internet, communication and technology) network in the Middle East and North Africa. Dubai Internet City Free Zone was created in 2000 and is now home to some of the largest multinationals in the world. The DIC was also the first free zone to develop the concept of business park that also provides accommodation to employees in the IT sector in Dubai. The DIC Free Zone is promoted as the perfect place for foreign investors addressing emerging global markets. The following industries benefit from incentives and support from the authorities in the Dubai Internet City Free Zone:
In terms of taxation, companies in the Dubai Internet City Free Zone have the following benefits:
Moreover, full foreign company ownership is allowed in the Dubai Internet City Free Zone. The registration procedure is quite simple due to the Dubai Companies Act provisions.
Investors wanting to set up a company in the Dubai Internet City Free Zone are required to deposit a share capital of 50,000 AED. The company must also have at least one director and open a bank account with a local bank. The following step will be to draft the articles of association for the new company and submit them with the Dubai Internet City Free Zone authorities. The investor will then be required to apply for the appropriate business license. The following documents must be submitted with the authorities:
It takes about four weeks for all formalities to be completed and the business license to be issued.
For additional information about company registration, we invite you to contact our company incorporation agents in Dubai.