Dubai International Academic City Free Zone (DIAC), situated close to Al Ruwayyah, is the world’s largest Free Zone dedicated solely to education. Tecom Investments began building Dubai Academic City in 2007, with the main purpose of supporting professional advancement in the Emirati labor force and providing the groundwork for a knowledge-based economy.
The Dubai International Academic Metropolis is the United Arab Emirates’ first private multi-university city. As a result, it is a one-of-a-kind academic city. It provides a comprehensive range of educational services. A variety of support organizations, as well as 27 educational institutions, including three innovation centers, are housed in the Dubai Academic Free Zone.
The formation of a firm in the Dubai Academic Free Zone is an opportunity for firms with a commercial orientation, and it plays a special and essential role for businesses with interests in education and knowledge development.
Business setup in Dubai International Academic City offers students a range of benefits, including free visas and tax-free enterprises.
Here is a step-by-step guide on how to set up a business in Dubai International Academic City Free Zone.
How to Setup Business in DIAC Free Zone?
Following is a step-by-step procedure of how to Start a business in Dubai International Academic City:
Step :1 – Complete the application form for the company, then send it in for preliminary approval.
Step :2 – Send in the required paperwork so that the firm may be officially registered.
Step :3 – In addition to making payment, please sign and send the customer confirmation letter.
Step :4 – Deposit the share capital, and sign the Memorandum and Articles of Association (MAA).
Step :5 – Agree to the terms of the lease and the staff sponsorship programme.
Requirements for Company Formation in DIAC Freezone
Following is a list of documents required for Company Formation in Dubai International Academic City:
Company registration application
Proof of share capital
Registration fee and license fee
Details of the shareholder(s)Original Memorandum and Articles of Association (MAA)Board resolution
Passport copy and specimen signature of the manager and the director(s)
No-Objection Certificate (NOC) from the residency visa sponsor
Benefits of Business Setup in DIAC Free Zone
The area offers a unique cluster environment in which businesses from different sectors share a work campus that is exclusively devoted to the sector in concern. In this location, the businesses are able to efficiently communicate and engage with one another. Moreover, other benefits are as follows:
Positioning in Dubai is strategic. Because of its location, it is convenient for traveling to any part of Dubai.
Exemption from 100 percent of taxes and customs duties.
Complete ownership by a foreign entity.
Repatriation in its entirety of both capital and earnings.
A swift immigration mechanism that makes skilled workers available.
A one-stop-shop for any and all of the government’s services.
An academic setting of the highest caliber for the institutions.
Students are provided with access to some of the most advanced and well-appointed facilities in the GCC region.
Fully digital application procedure.
It is the perfect location for both living and working since it is a residential neighborhood with retail businesses.
Ideal setting for both academic pursuits and commercial endeavors.
Flexible solutions for business partners.
Cost to Setup Business in DIAC Freezone
In order to start up a Free Zone limited liability company in Dubai Academic City, the minimum share capital required is 20,000 AED. On the other hand, there are no minimum share capital requirements in place for setting up branch offices.
Facilities Available in DIAC Freezone
The integrated facilities and welcoming atmosphere of Dubai International Academic City have elevated it to the position of the most sought-after academic center in the region.
Here’s how the Dubai International Academic City free zone facilitates entrepreneurs:
1. Commercial Spaces
Select from a range of commercial spaces and campuses that are well-located and custom-built, and that offers a dynamic atmosphere for learning and growth.
2. Coworking Spaces
Offers access to coworking spaces. D/Quarters is a one-of-a-kind co-working space that provides a collaborative environment for independent thinkers and game changers to thrive. D/Quarters is the most recent addition to TECOM Group’s extensive product portfolio. Also checkout the best coworking spaces in Dubai
In5 nurtures ideas and businesses to the next stage of growth through its creative spaces, training and mentorship programs, networking events, and access to investors. Students, entrepreneurs, and startups can benefit and thrive from in5 Centers’ offerings, which include a business incubation programme, an annual membership, and venue and equipment rental.
4. Freelance Community
As a member of the GoFreelance community, freelancers gain access to exclusive opportunities to find and bid on projects, as well as expand their network, via Marketplace – an online platform designed to help you.
5. Retail Business
Discover a wide range of retail spaces that serve over 27,000 students and academics, including restaurants, cafes, snack bars, and more.
Best Businesses to Start in DIAC Free Zone
When it comes to educational facilities, Dubai International Academic City is unrivaled as the world’s biggest Free Zone. Having so many international campuses, Dubai International Academic City continues to be a popular destination for international investors.
Following is a list of the best business opportunities available in the Dubai International Academic City Free Zone:
Dubai International Academic City, the largest free zone devoted to education in the world, was established close to Al Ruwayyah. Dubai Academic City was created by Tecom Investments in 2007 with the primary goals of developing the workforce in the United Arab Emirates and laying the foundation for a knowledge-based economy.
The first free zone devoted to higher education is Dubai Academic City. Around 25,000 foreign students attend classes in Dubai Academic City, which is home to numerous international branch businesses. In the Academic City, there are more than 400 higher education programmes offered to students.
25 international academic institutions are located in Dubai Academic City, which spans an area of 18 million square kilometers. When launching a business in Dubai Academic City, foreign investors will gain from professional and educated staff in addition to other benefits found in other free zones. For 50 years, businesspeople will be permitted to establish corporations with 100% foreign ownership and 100% tax exemptions from personal income and corporate taxes.
Do I need to have a local sponsor to start my business in DIAC?
No, you can start your business in DIAC without the requirement of a local sponsor.
How much time does it take to start a business in DIAC?
It takes around 3-4 weeks to set up a business in Dubai International Academic City Free Zone.
How much investment is required to start a business in DIAC?
The minimum share capital for establishing a free zone limited liability company in Dubai Academic City is 50,000 AED, but there are no minimum capital requirements for setting up branch offices. Individuals may also apply for freelance permits if they establish sole traders in Dubai Academic City.
Can I Transfer my company from one Free Zone to another in the UAE?
It will not be permitted for you to move your business to another Free Zone. You are nonetheless permitted to establish a branch of your current firm in a Free Zone of your choosing.
How can Airzone help you set up your Business in DIAC Free Zone?
If you need help getting started in the Dubai International Academic City free zone, reach out to us at Airzone. Airzone can assist you in getting your business off the ground if you’re planning to launch one in Dubai.
You can get assistance from our dependable partners in Dubai and obtain the necessary trade licenses. We’ll put you in touch with the appropriate experts to handle anything from visa applications to crucial administrative tasks while you concentrate on growing your business.
At DIAC Freezone, our advisory partners can walk our clients through each stage of the company formation process and provide them with complete guidance.
So, if you want to start a business in Dubai, now is the time!
In case you need help setting up a business in the country, we have a detailed guide on how to set up a business in Dubai. With a thorough understanding of the UAE’s business scene, you should be well prepared to establish a company in the country. If you need information regarding free zones, we also have detailed articles on UAE Free Zone.
DIAC Business Setup Costs
Calculate Company Formation Costs for Dubai International Academic City