Dubai Internet City (DIC) Business Setup: Dubai Free Zone Company Setup
- License cost from 15,020 AED
- Company formation takes 4-6 weeks
- Residence visas for 2 years
About DIC
One of the largest technology and information hubs in the MENA and Middle East region is Dubai Internet City. It was established in 1999 and has attracted over 1,600 companies since then, including Google, Oracle, Microsoft, and Visa. It is managed by TECOM, or Technology Electronic Commerce and Media Group, which falls under Dubai Holding.
As implied by the name Dubai Internet City, this free zone is a safe haven for all IT companies, from start-ups to huge multinationals. Companies can showcase their services and products and increase their engagement with the world’s leading technological corporations.
Choose if Dubai Internet City (DIC) business setup is the right choice for you
— Yes If
- You are looking for a solution for a business in a renowned and established place like Dubai. DIC is the most significant communication and information technology hub in the Middle East and the North Africa (MENA) region.
- Your business is tech-related or media-related. DIC focuses on sectors such as telecommunications, multi-media, IT, etc.
- You are an independent specialist specializing in tech or a freelancer; DICC offers freelance permits with quotes for a single visa.
- You prefer a free zone with highly developed infrastructure and a variety of amenities and facilities, from commercial spaces to offices in business centers to venues for events of all sizes.
- If you belong to high-risk nationalities such as Syria, Turkey, Iran, Iraq, or Lebanon, you are less likely to encounter issues while applying for a residence visa in a DIC-free zone or opening bank accounts.
Alternatively, you can consider other free zones, such as Dubai Silicon Oasis or Dubai Media City, as these are also based in sectors such as IT and media.
— No If
- You want a Dubai DIC business setup, but DIC needs your personal presence to form your company. We suggest other alternatives, such as IFZA or Ajman Digital Media City.
Process of Company Formation in DIC
The process of company formation in DIC has to be carried out personally by you. You might get assistance from your business consultants in Dubai. The physical presence of the shareholders is necessary for the license registration process.
You are required to sign the company document once the license registration process has been completed and collect the keys from your office in the free zone.
This process takes 4-6 weeks to complete. You are required to lease an office facility for company registration in DIC. The smallest office you can lease is a hot desk, which allows up to one residence visa.
Step 1: Choose your type of business activity and license
You must determine the business activity in which your future company will be involved and the corresponding license type. This is a vital step for a successful Dubai Free Zone company setup since choosing the wrong license type and activity can cause mistakes during the company’s registration.
This can also lead to problems obtaining residency visas for your employees and yourself or opening a bank account.
Step 2: Determination of the legal entity of your business
You need to specify the legal status of your business in the Internet City of Dubai. Companies available for company formation include a branch of an existing company and an FZ-LLC, a free zone limited liability company.
Step 3: Preparation of all related documents
Submission of all related documents, along with the application form, after their appropriate preparation. For an FZ-LLC company formation, DIC requires the following related documents, such as:
- Personal bank statement of three months (mainly needed for Syrian and Lebanese individuals)
- Business plan
- Passport
The following set of documents is needed for the registration of a company under the DIC:
- Proof of physical address for a foreign entity
- Certificate of good standing for entities belonging to foreign countries (with proper notarization from the UAE embassy in the respective country)
- Certificate of registration for the foreign entity (with appropriate notarization from the UAE embassy in the respective country)
- Board resolution (with proper notarization of the UAE embassy in the respective country)
- Articles of association and Memorandum (notarized by the home country UAE embassy)
- Company profile
- Business plan
- Business activities
- Document containing trade name for foreign entities
- Emirates ID
- CV for general manager
- Email address (general manager and shareholders)
- Address (shareholders and general manager)
- Mobile number (general manager and shareholders)
- Passport-sized photographs
- Scanned passport copies (general manager and shareholders)
The DIC business license is issued in 48 hours. The pre-approval period in the company formation process is about 5-7 working days. The lease paper is issued in 3-4 weeks. All the registration fees must be cleared in this step.
Step 4: Collection of the registration documents and license
The documents you would be collecting would include:
- Lease agreement
- Share Certificate
- Articles of Association
- Business License
- Certificate of incorporation
- Business plan
Step 5: Securing your establishment card
The establishment card will contain all information about your company, along with visa quotes. It will take 3-5 days to issue the card.
Step 6: Application for an entry permit
If you are absent from the UAE during the processing of the entry permit, you will need to come to the country when the document is issued within the next 60 days to complete the biometrics and medical test for the visa.
If you’re in the UAE when the permit is issued, your status will change from your previous residency visa for a UAE tourist visa to the new one. The process of issuance of the entry permit takes about five to seven days.
Step 7: Submission of visa documents after taking the medical test
Undergo a medical checkup and submit all necessary documents for the residency visa. Different registration packages may make various visas available for company employees and owners. The medical test and biometrics scanning take one day each.
Step 8: Collection of your Emirates ID
Once your visa has been issued, you must secure your Emirates ID card. The issuance process takes 5-7 working days after you submit your biometrics.
Step 9: Opening of a bank account
Apply to any bank in the UAE to open a corporate bank account. Once you have received the account details, you will be free to run your business.
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Sheikh Zayed Road Dubai, United Arab Emirates P.O. Box 27614.
Get In touch
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info@jsbincorporation.com
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DIC Cost of License
| Fee | Amount | Comment |
|---|---|---|
|
Registration fee |
AED 3,520/- |
One-time fee |
|
Visa fee |
– AED 3,320 (if the person is outside UAE) – AED 4,750 (if the person is inside UAE) *Health insurance is mandatory to apply for a visa. |
Valid for 2 years
Includes: Visa, Medical, and EID |
|
Visa security deposit |
AED 2,500/person |
Refundable upon visa cancellation |
|
Establishment Card |
AED 2,000 |
Valid for 1 year |
|
Share capital—not applicable for branch setup |
AED 10,000 |
Varies on the activity which will be approved (share capital has been waived off) |
Dedication to tech companies is mainly noticed in Dubai Internet City. This provides an inclusive platform for multinational corporations, entrepreneurs, and startups. The DIC’s business activities list is quite vast.
Business setup in UAE free zones pays heed to various sectors of activities such as internet-based solutions, multimedia, telecommunications, IT consultancy, data centers, and software development. A description of the different activities in the DIC along with their description is given in the list below:
Software
This is for organizations and business people who support, modify, and develop various software products.
Multimedia and Internet
This category is for organizations and entrepreneurs who are engaged in the distribution and development of multimedia or internet services and content such as videos, music, video games, community and social media platforms, search engines, etc.
Network and Telecommunication
This category is for businesses and businessmen engaged in the modification, development, and operational support of networks, along with services related to networks such as online conferencing, cybersecurity systems, mobile infrastructure, telecom, satellite, etc.
IT Services
This category is for businesses and businessmen who provide IT services such as integrating IT products, IT consultancy, big data analytics, etc.
Data centre
For organizations and entrepreneurs engaged in disaster recovery solutions, distribution, processing, and data hosting provisions.
Freelancer
For organizations and entrepreneurs engaged in freelancing with the ability to rent a hot desk and apply for a visa quota.
Also mentioned above, freelance professionals are catered to by the DIC, offering a specific permit for freelancers. This permit allows you to function under your original name instead of your brand name. This will enable you to prove yourself as an expert in your field.
DIC Facilities
Dubai Internet City offers various facilities for businesses of all sizes. These include warehouses, light industrial units, D/quarters, In5 centres, retail spaces, and commercial spaces.
Renting a premise is mandatory if you wish to open a company in this free zone. The size and kind of your business influence the type of space you rent.
This lease is subject to 5% VAT. An additional security deposit of 5,000 AED is necessary for renting a desk space, while a private quarter needs 10,000 AED as a security deposit.
| Type of Facility | Annual rent, AED | Number of Visas |
|---|---|---|
DIC Business CENTRE |
|
|
|
2-seater office |
72,000 |
3 |
|
3-seater office |
96,000 |
4 |
|
4-seater office |
120,000 |
5 |
D/QUARTERS |
|
|
|
Hot desk |
AED 12,000 + 5% VAT |
1 |
|
Dedicated desk |
AED 36,000 + 5% VAT |
2 |
Note:
*Lease is subject to 5% VAT + AED 204.00 Ejari
* It is required to submit copies of valid insurance policies for third-party liability.
As a part of the TECOM group, DIC offers various venues for events of all sizes. Whether you are planning a conference, a gala, a meeting, a brand activation, an exhibition, or a concert, you will find the right venue of your choice. The available venues are given below:
Amphitheaters: The Dubai Knowledge Park Auditorium is a space that is versatile in nature and hence can be used for various purposes such as training, corporate events, and conferences.
Conference and auditorium facilities: The Dubai Knowledge Park Auditorium has 275 seats, along with meeting rooms and conference halls equipped with all the latest technology. This makes them the perfect venue for training, workshops, business meetings, and conferences.
Outdoor spaces: TECOM offers a variety of brand activations, exhibitions, and events. These spaces include gardens, courtyards, and lakeside locations.
Studios and sound stages: Dubai Studio City is a location that is vital as a filming location. Multipurpose studios are offers that can be used for various purposes, such as product launches, fashion shows, gala dinners, and events.
Commercial Office Lease Rates:
| Office Type | Location | Smallest Unit Size | Rate | Office Condition | Visa Eligibility |
|---|---|---|---|---|---|
|
Commercial Office |
Dubai Internet City |
720 sq. ft. |
AED 190.00/sq. ft. |
CAT A |
1 visa per 60 sq. ft. |
Residence Visas in DIC
By opening a company in DIC, you, your dependents, and your personnel are entitled to resident visas. DIC offers various visa packages based on the type of office space chosen. Once the business license of the organization is issued, the resident visa procedure is pretty straightforward and includes:
- Emirates ID
- Medical Checkup
- Status adjustment
- Entry permit
- Establishment card of the company
All visas allocated through DIC are valid for up to 2 years. The company’s license needs to be renewed annually to keep the residence visa’s validity intact. The visa holder must visit the country every 6 months to keep the visa valid.
The following documents are required to sponsor your dependent’s visas:
- Contract of tenancy in a UAE apartment
- The birth certificate of your child (if any) is legally translated to Arabic and attested by the Ministry of Foreign Affairs.
- Marriage certificate legally translated to Arabic and attested by the Ministry of Foreign Affairs.
License renewal of your company in DIC
A renewal is required every year for any company in the DIC. The process includes:
- Renewal of the license
- Renewal of the office lease
Certain costs of your company will be repeated in the process of license renewal, such as the office license fees and rent. The company’s annual financial audit must also be carried out.
To renew your business license, an application form with all related documents must be submitted to the free zone authorities. The renewed lease agreement must be signed by you, followed by the payment of the fees. Then, you need to wait for your license to be renewed.
If you are absent from Dubai, your representative can handle the company renewal process. After your license renewals, you must inform your bank about your license extension. To do this, you must bring your license to any branch of your bank.
Company liquidation in DIC
If you wish to cancel your license and deregister your company at any time, you need to approach the free zone authorities. Your company’s shareholders should provide a notice of termination and appoint a liquidator to follow through with the process.
The following steps must be followed for company liquidation:
- Provision of the following documents:
- Audit report
- Auditor liquidation certificate
- Business License
- All incorporation documents
- De-registration documentation
- Board resolution signed by shareholders (stating the reason for liquidation of the company)
- Settlement of all payments, including payment of the cancellation fees. The liquidation process is initiated after this.
- All immigration-related documents, including all residence visas, must be cancelled.
- You will receive corresponding documents once the liquidation process is completed.
If you don’t renew or cancel your license, it becomes non-operational. In such a case, the authorities will start the process of liquidating your company automatically. Upon the company’s deregistration, you will receive all your refundable deposits.
Conclusion
JSB Incorporation helps you set up your business organization in Dubai. We provide services that assist you in forming, running, and scaling up your business in the UAE.
If you’re looking for a business setup solution for your company in Dubai, JSB Incorporation is here to help. We are a consultancy specializing in business setup for fast, efficient, and safe company formation in Dubai over 24 low, tax-free jurisdictions: IFZA, JAFZA, and MCC. Contact us today to learn more.
FAQs
As per the regulations of the UAE Central Bank, a personal visit to the UAE is required. However, some banks allow remote account opening.
If only one shareholder exists, you can quickly obtain a debit card for your newly opened company. A fixed deposit is necessary to get a credit card. Based on the profits and operations of the company, the bank decides whether your company is eligible for a loan or not.
Any business eligible for resident visas must have a flex desk. It is the bare minimum of physical office space required of a business that employs people under its visa.
VAT obligations depend upon the location of business activity and the registration location. When the taxable turnover hits AED 375,000, VAT is applied.
The country is free from personal income tax. However, there is a 5% import tax on goods brought into the country and a 5% VAT on trading or service transactions in the UAE.
Don't miss out on this limited-time opportunity!
We'd Love To Hear From You
contact us
Find us Here
Office No 20, 4th Floor, Al Moosa Tower 2,
Sheikh Zayed Road Dubai, United Arab Emirates P.O. Box 27614.
Get In touch
+971 4 824 4842
info@jsbincorporation.com