COMPANY FORMATION IN DUBAI INTERNET CITY (DIC) - ACE Tax Consultant

COMPANY FORMATION IN DUBAI INTERNET CITY (DIC)

The largest Information and Communications Technology cluster in the Middle East and North Africa

Dubai Internet city company Formation, Business Setup in DIC

Start the company formation process right away in Dubai Internet City and take advantage of the hassle-free registration. Contact AceTax today for more data about permit, visa, and other corporate administrations.

The most important information and communications technology center in the Middle East and North Africa is Dubai Internet City (DIC), an investment in TECOM. The purpose of the free zone was to promote the growth of the communications and technology industries. Dubai Internet City also provides its members with a world-class infrastructure and an exceptional business community when it comes to company formation.

Dubai Internet City is a member of TECOM Investments, a subsidiary of Dubai Holding. It serves dynamic start-ups that are capable of driving innovation and expressing Dubai’s vision and mission. Companies can now establish themselves in such lucrative markets thanks to the jurisdiction’s continued growth and success in IT-related services.

DIC, which was founded in 2002, is home to Microsoft, Oracle, HP, Dell, Nokia, and Samsung, among other well-known brands. In addition, it has provided opportunities for international businesses seeking a sustainable and profitable location to establish themselves in emerging indigenous markets.

One of its main draws is DIC’s central location. The free zone, which is in the center of Dubai, makes it easy to get to Sheikh Zayed Road, making it much easier to commute. As a result, you can get to other important parts of the city much faster. In addition, DIC has over 80 restaurants, banking, and other business facilities, providing a wealth of amenities.

Benefits of business setup in Dubai Internet City

In Dubai Internet City, company formation focuses on creating an environment that encourages innovation and provides opportunities for networking. The DIC free zone is a center for innovation with a mission to advance science, education, new media, and technology. In addition, the DIC free zone fosters talent and creativity by supporting startup businesses.

Some of the benefits of starting a company in DIC free zone include:

  • 100% foreign ownership
  • No personal, income, or corporate taxes for 50 years
  • Full repatriation of capital and profits
  • Ample opportunities for market development
  • Affordable digital voice and high-speed data services
  • Modern communications infrastructure with new innovative technologies
  • Commercial offices, business centres, and conference facilities
  • Protection of properties and assets

Types of legal entities in DIC

Entrepreneurs are unable to conduct business on the mainland if they establish a business in a DIC free zone. However, the authorities have put in place a number of amenities to ensure that investors and entrepreneurs can set up businesses in the most efficient manner possible. There are a number of legal entities that can register in a DIC free zone, including:

  • Free Zone Limited Liability Company (FZ-LLC)
  • Branch of a UAE company
  • Branch of a foreign company
DSO free zone facilities

The free zone offers various kinds of facilities for business setup. These include:

  • Premium Industrial Units
  • Warehouses
  • Office Spaces
  • Work Stations (subject to availability)

Business activities permitted in DIC

The mission of DIC is to facilitate the expansion of established businesses as well as new startups into global high-tech companies. As a result, all activities that are permitted by DIC authorities are IT-related.

  • IT services
  • Consultancy
  • E-commerce
  • Multimedia development and distribution
    Software development, installation, and modifications

Licenses offered by DIC free zone

DIC authorities issues various kinds of licenses. However, the most prominent licenses issued to entrepreneurs are:

  • Software
  • Telecommunications and networking
  • E-commerce
  • IT service
  • Internet and multimedia

Dubai Internet City license costs start approximately from AED 15,000.

DIC free zone license renewal

The recharging system of organizations in DIC is exceptionally practical and straightforward. Your Dubai Internet City free zone license can be renewed without the need for an annual audit report.

You will need to pay the renewal fee and submit your facility’s signed lease agreement to renew your company’s license. Additionally, having a company in DIC makes it possible to renew without having to be physically present in the UAE; this can be accomplished through an agent.


Business liquidation in DIC free zone

Company liquidation, like renewal, does not require the owner’s physical presence and can be carried out through an agent. You will, be that as it may, be expected to pay the public authority charge to finish the course of liquidation.

Company liquidation takes about one month and involves the following steps:

  • Cancellation of visas
  • Termination of lease agreement
  • Closure of bank account
  • Clearance from customs, if your business was involved in trading

Be a part of this innovative city with AceTax Consultants. To know more about Dubai Internet City license costs, procedures, and more, contact us today!

You can get Dubai company registration, business licenses, PRO services, and more from AceTax Consultants. In addition, we provide solutions for your company formation in the UAE-related requirements.

Contact our knowledgeable consultants at +971 553 810 715 or send a WhatsApp message to +91-9899795588 to begin your business journey and learn more. You can also send an email to info@acetaxuae.com to get answers to your questions quickly.

Frequently Asked Questions for Dubai Silicon Oasis Free Zone

Can I renew my license without being in Dubai?
Yes, you can pay the renewal fees and renew your license remotely by using a registered agent and an authorization letter.
It takes less than a week to get your license to start your business in the IFZA free zone.
No, you have 100 % ownership and do not require to have a local partner to start your company.

Your business cannot be moved from one free zone to another. However, you can open a branch of your current business in a different free zone.

If you want your business to be in a different free zone, you will have to close it down in the current zone and start it up in a different free zone.

It is possible to transfer a license from another UAE free zone to DIC. However, in order to transfer your license to DIC, you will need approval from the Dubai Development Authority (DDA).
Yes, most businesses in the United Arab Emirates require office space. There are different choices and bundles that accompany picking the right office for the perfect add up to suit your organization.