The DIC Free Zone (Dubai Internet City), located in the Technology and Media Free Zone, is one of the world’s largest information technology parks.
Since its establishment in 2000, the Dubai Internet City Free Zone has hosted some of the world’s most successful multinational firms. As the largest ICT infrastructure ever established inside a free zone, Dubai Internet City (DIC) was founded and developed to support information and communications technology (ICT) businesses.
Setting up a business in Dubai Internet City Free Zone is a great way to take advantage of the many benefits that this area has to offer. Whether you’re looking to start a new business or relocate an existing one, DICFZ offers a number of advantages including 100% foreign ownership, no corporate taxes, and easy access to global markets. Here’s how you can set up business in Dubai Internet City Free Zone.
Advantages of Registering a Business in the DIC Free Zone
Establishing a company in Dubai Internet City Free Zone has the goal of creating an environment that fosters innovation and networking. It’s a place where new ideas can be developed in the fields of technology, media, education, and science. When new company endeavors are supported, it provides an ideal atmosphere for the development of new talent and creative thinking.
Among the advantages of establishing a business in a DIC-free zone are:
- 100% foreign ownership
- No personal, income, or corporate taxes for 50 years
- Easy licensing
- Full repatriation of capital and profits
- Modern communications infrastructure on new innovative technologies
- Protection of properties and assets
- Metro Ethernet environment
- 24-hour security
- Capital mobility
- Dynamic international community
- Networking opportunities
- Dual licensing opportunities
- Abundant opportunities for market development
- Affordable digital voice and high-speed data services
- Facilities for commercial offices, business centers, and conferences, as well as sophisticated communication infrastructure based on cutting-edge technology
Company Set Up Cost in DIC Free Zone
Free Zone Company Registration Process requires a one-time payment of AED 3,520. Additional costs include a leasing arrangement, which can cost between 25,000 and 120,000 AED a year, depending on your needs.
All types of enterprises can be established with the approval of the DIC, although the most well-known licenses given to business owners are:
- Internet and Multimedia
- Telecommunication and Network
- IT services
- E-Commerce License
Documents Required in Setting up a Company in DIC
The following are the requirements for free zone company formation in DIC:
- Copies of the founders’ passports.
- Copy of the directors’ and managers’ passports.
- The representative’s legal information.
- An application for a license.
At any time during the process of company formation in Dubai DIC, the authority in charge of providing licenses may decide at their discretion that further documents are required.
The Infrastructure of Business in DIC
DIC is home to a variety of businesses, from small startups to large multinationals. The city’s infrastructure supports these businesses and helps them to thrive.
- Offices for conducting business
- Executive Desks and Executive Offices at Business Centers
- Facilities for Conferences
- Star Hotels, Fitness Centers, Dining and Shopping, Banking & ATM, Medical, Security, and Public Safety are all included in the amenities.
How to Set up Business in DIC Free Zone?
These measures must be followed in order to establish your business in a DIC-free zone.
Send the necessary paperwork with your application for first approval:
- Business strategy
- Copies of the manager’s, directors’, and shareholders’ passports.
The application and supporting documentation will be examined by the Dubai Internet City Authority, which will then give preliminary permission. They will also provide a list of the paperwork required for business registration.
It would be beneficial if you signed and stamped the provisional license to indicate that you accepted it. You must then return it to the appropriate authority.
You must deliver the DIC’s list of required documents for registering your firm before the next 15 days.
The Customer Confirmation Letter will then be sent to you by DIC after it has reviewed and accepted your paperwork.
Get the letter signed, stamped, and returned to the authorities as soon as you have the confirmation.
Following receipt of your letter, the DIC will generate an invoice for the initial payment.
DIC will provide a Personnel Sponsorship Agreement and an office space Lease Agreement following the initial payment.
You will receive the business license after you sign, date, and send back the agreement.
You can start your business in earnest after completing this phase.
License Options and Cost in DIC
Setting up a business in Dubai Internet City (DIC) is very easy. You just need to pay a yearly license cost of AED 15,020 in accordance with Dubai Internet City requirements. The additional cost per part is AED 10,010.
A software license is required for any operation that involves developing, installing, or altering software products owned by the company or a third party.
An IT service license covers any activity connected to the creation and/or provision of standardized repeatable IT-based services. This may also include security solutions, localization, training, and corporate learning, among others.
Internet and Multimedia
Providing an online platform and acting as an intermediary between many organizations or numerous individuals are examples of additional activities that could be carried out in conjunction with distributing goods and services through the internet. Additionally, the DIC promotes additional investors in other areas, including hotel and leisure, property management, consultancies, and general service providers.
An e-commerce license is required for any activity that involves selling goods and services via electronic media, such as an internet search engine, portal, website, social media, etc.
Telecommunication and Networking License
Before beginning any project involving the building, installation, modification, or operation of networks, as well as the provision of appropriate services for the operation of network-based applications or services, it is necessary to get a telecommunications and network license.
Facilities in DIC
A wide range of commercial facilities, services, and other amenities are available at the business set up at DIC to meet the diverse needs of the modern commercial sector.
- The Dubai Internet City Metro Station is consistently ranked as one of the busiest stations in the entire UAE. As a result, those who work in DIC are able to commute more easily.
- Good schools are available in the vicinity.
- Innovation centers
- Venues for events
- Retail and dining
- Fitness facilities
- Healthcare facilities
- Luxury hotels
- in5 Tech, a business incubator in Dubai Internet City, offers a wide range of services to entrepreneurs and startups, including access to cutting-edge specialized facilities.
- In Dubai Internet City’s real estate market, both apartments and hotel apartments can be rented out. There are a broad variety of apartment sizes and floor plans to choose from at DIC, and each unit has a different number of bedrooms. Sizes range from studios to three-bedroom units.
Activities in DIC
All activities allowed by the DIC authorities are IT-related
- IT services
- Advertising & Communication
- Media and Marketing Services
- New Media
- Media Association (Non-Profit) and others.
- Multimedia development and distribution
- Event Management
- Software development, installation, and modifications.
Can I be the 100% owner of the company in DIC?
Yes. Because of an amendment to UAE law, international investors now have full ownership rights in Dubai Internet City businesses.
Can I operate my business in other free zones after getting a license from DIC?
You are not permitted to establish a branch of a company that already operates in one free zone in another free zone. However, you can open a new free zone company in another free zone with the same name and conduct the same business as long as you obtain a NOC from the old firm allowing you to use the name.
Can I transfer my license from another free zone in the UAE to Dubai Internet City?
Yes, it is possible to transfer a license from another free zone in the UAE to Dubai Internet City. However, in order to transfer your license to DIC, you will first need to obtain approval from the Dubai Development Authority (DDA).
Setting up a business in Dubai Internet City Free Zone is a great way to get started in the UAE market. There are several benefits to setting up your business in this zone, including 100% foreign ownership, no corporate or personal income tax, and easy access to local and international markets.
You can set up business in Dubai Internet City Free Zone in as little as a few days, and the process is relatively simple. The Dubai Internet City Free Zone Authority offers a wide range of services to help you get started, including licensing, company formation, and banking.