No, Dubai Knowledge Park lets foreign investors own 100% of the companies without needing a local sponsor.
In 2003, Dubai Knowledge Park (DKP), formerly known as Dubai Knowledge Village, was founded. This free zone, which is a part of the renowned TECOM Group, aims to expand the UAE’s talent pool and advertise the region’s knowledge-based economy.
The DKP Free Zone seeks to expand the area’s talent pool and transform the UAE into a knowledge-based nation. It is a special hub that provides the greatest variety of HRM, consulting, training, and personal development programs. High-caliber degrees and certifications are given to students by reputable Business Partners.
Full foreign ownership and tax advantages are two of the perks that foreign investors value most when starting a firm in the Dubai Knowledge Village Free Zone.
With cutting-edge infrastructure and unbeatable international connectivity, it’s easy to see why this development is quickly becoming one of the most popular destinations for entrepreneurs hoping to succeed on the world stage. In this guide, we’ll explore everything that setting up in DKP entails — from top advantages and resources to cost considerations and permits — so read on!
How to Setup Business in Dubai Knowledge Park Free Zone?
The simple and uncomplicated stages for company setup in Dubai Knowledge Park Free Zone are as follows:
Step 01 – Select the Business category
Entrepreneurs must select one of the following company kinds to register a firm in the Dubai Knowledge Park Free Zone.
- LLC having a shareholder who is a corporation.
- with a natural person and a business entity as shareholders.
- LLC having a shareholder who is a natural person.
Step 02 – Choose the type of license you need
Which license is necessary for company registration at Dubai Knowledge Park depends on your business activity. The different licensing kinds that are available in DKP Free Zone are listed below:
- Service License
- Trading License
Step 03 – Send in the application
The business owner must fill up the application form, provide the essential documentation, and pay the required fees. After you get your trade license, you can apply to open a corporate bank account.
Dubai Knowledge Park Company Formation Requirements
Dubai Knowledge Park’s website offers a simple form for submitting a business plan and requesting a license and a list of additional prerequisites. The procedure is quick and straightforward, and it may be finished online. You may always get help from the DKP business development team if you need it or need help deciding how to proceed. Dubai Knowledge Park stands out among the other free zones in Dubai because of all of these conveniences.
Here are some of the documents you’ll need to provide to establish a company in DKP:
• The application for company registration.
• The original articles of incorporation and memorandum.
• A board decision.
• A copy of the director’s and manager’s passports and their sample signatures.
• Evidence of equity.
• License and registration fees.
• The sponsor of the residency visa’s No Objection Certificate.
• The Gulf Standardization Organization’s Certificate of Authorization.
• A contract for the transfer of personnel.
The establishment of a business requires the signing of further documents. The documents at dispute include the Office Lease, Articles of Association, Memorandum of Association, License, and Certificate of Incorporation.
License Options in Dubai Knowledge Park Free Zone
At DKP, one may select commercial, services, and independent licenses. The following are some examples of the numerous legal structures that are available:
1. Limited Liability Company for a Free Zone
It must be an owned business or a separate legal entity and need at least one director.
2. A branch of a UAE business
It carries out parent company functions without establishing a distinct legal organization.
3. A foreign company’s regional office
It is 51% locally owned and has no minimum share capital requirements.
4. Permit for Freelancing
This allows someone the freedom to work independently as a professional.
Cost to Setup Business in Dubai Knowledge Park Free Zone
In Dubai Knowledge Park, starting a business is simple and requires little paperwork. Starting at AED 100,000, the cost to establish a firm covers everything from pre-approvals through company registration and license acquisition. These costs, however, frequently fluctuate depending on the organization and the processes designed for it.
| Business plan approval charge | AED 2,000 |
| Registration fee | AED 3,510 |
| License fee | AED 15,010 |
| Office rent (37 sq.m.) | AED 74,000 |
| Total | AED 94,520 |
Benefits of Setting up a Business in Dubai Knowledge Park Free Zone
Because Dubai Knowledge Park is a free zone, all companies operating there are excluded from standard tax regulations and can work independently of local sponsors. Businesses may choose from a range of top-notch amenities in free zones like Dubai Knowledge Park, including:
- 100% foreign ownership
- Complete exclusion from all taxes and duties
- 100% repatriation of earnings and capital
- Visa issuance and a simple, quick incorporation process
Facilities Available in Dubai Knowledge Park Free Zone
Dubai Knowledge Park Free Zone goes above and above by offering reliable business services and a support structure. Here are some of the notable facilities offered by DKP:
1. Dubai Knowledge Park Business Centre
The Dubai Knowledge Park Free Zone Business Centre provides goods and services to various commercial clients and organizations. These consist of the following:
A hot desk is a shared office area that may hold several clients simultaneously. These are perfect for independent contractors who want a formal business setting.
- Open offices
- Executive suites
- Executive offices
2. Business Offices
Dubai Knowledge Park’s biggest clients use commercial offices, including Palladium, Gallup, Hewitt, Towers Watson, and Hays. These office spaces at DKP are available for rent to companies. Companies can subsequently furnish them as necessary to meet their specific business needs.
DKP’s services go beyond merely giving you a place to house your business. It offers its partners extra advantages in company growth, corporate support, and marketing.
For example, through “AXS,” company owners in Dubai Knowledge Park may get specialized assistance in starting their enterprises and utilizing government resources. Whether you need help obtaining NOCs and permissions with the visa application procedure, “AXS” can help.
Furthermore, TECOM’s in5 offers new business and start-up owners a healthy ecosystem for growth. With the specialized design, media-related resources, and technology, emerging firms are fostered here.
Best Businesses to Start in Dubai Knowledge Park Free Zone
Here is the list of business activities allowed in Dubai Knowledge Park Free Zone.
- Consultancy
- Academics
- Technical training
- NGO
- E-commerce
- Printing
- Information and Communication Technologies (ICT)
- Educational consulting
- Accounting
- Retail
Alternative Dubai Knowledge Park Free Zones
- Dubai Media City Free Zone
- JlT free zone
- Dubai Internet City free zone
- Dubai South free zone
- Dubai Airport Free Zone
- Dubai Silicon Oasis Free Zone
- Dubai Science Park free zone
- Dubai Production City Free Zone
- Dubai CommerCity Free Zone
Business Activities Allowed & Restricted in Dubai Knowledge Park
Even though residing in the UAE can benefit your career, some activities can lead to trouble. Therefore, understanding the activities that are allowed or prohibited is crucial so you can abide by the law of the land.
Allowed Business Activities:
- Computer Training
- Freelancers and Association (Non-Profit Organizations)
- Language Training
- Assessment & Testing
- Fine Arts Training
- Content Development
- Tutoring Services
- Technical & Occupational Skill
- Professional & Management Development Training
- Exe. Search Research & Development
- Child Skills Development Training/ Human Resources Consultancy
Restricted Business Activities:
- Sale of alcohol and manufacturing commodities and semi-finished items made with pork.
- Prostitution and illicit trade in narcotics
- Products and services include publishing and distributing pornographic periodicals, films, and strip clubs
- Gambling, lotteries, casinos, and internet gaming ventures
FAQs About Business Setup in Dubai Knowledge Park Free Zone
Do I need a Local Partner to Start My Company in Dubai Knowledge Park?
Can a Foreigner Start a Business in Dubai Knowledge Park?
Yes, a foreigner can quickly start a business in Dubai Knowledge Park.
How Many Days Would It Take To Get My License for My Business in Dubai Knowledge Park?
It might take three days to several weeks to get a trade license in Dubai.
What is Dubai Knowledge Park Free Zone?
Dubai Knowledge Park is home to businesses involved in executive search, human resource management, recruiting, consulting, and training for the workplace.
In 2003, Dubai Knowledge Park (DKP), previously known as Dubai Knowledge Village, was founded. This free zone, a part of the famous TECOM Group, aims to expand the UAE’s talent pool and advertise the region’s knowledge-based economy.
The top academic and professional programs in human resources (HRM), consulting, personal development, and training are all offered at DKP, a one-of-a-kind learning hub. The top colleges and educational institutions in Dubai Knowledge Park provide graduate credentials and internationally recognized degrees.
The Knowledge Village, originally known as the Dubai Knowledge Park, consists of many blocks. Some of the largest businesses and colleges in Dubai are housed in these buildings. In addition, the Dubai Knowledge Park is home to several well-known companies, including Stanton Chase, Cisco, and others.
How Airzone Can Help You Setup a Business in Dubai Knowledge Park Free Zone?
Consider that you are a driven entrepreneur seeking to establish a new company in UAE jurisdictions like Dubai Knowledge Park. In such a situation, Airzone provides you with all the knowledge and support required to help you get acquainted with the region and its governmental processes.
We offer thorough information regarding business registering, obtaining a free zone trade license, choosing the best site, and obtaining a UAE visa in our guides.
Additionally, we can assist you in locating trustworthy business consultancy and company formation service providers across several UAE states. In the past, our partner company formation service providers have helped top-tier global companies and SMBs establish operations in the UAE’s mainland and free zones.
If you want to save money and simplify establishing your business at Dubai Knowledge Park, feel free to contact Airzone.
Remember that we offer thorough guides if you wish to start your own business in Dubai. For additional details on free zones and other locations ideal for launching new businesses, we encourage you to read some of our other articles.