DUBAI INTERNET CITY FREE ZONE (ONSHORE) COMPANY

START YOUR NEW DUBAI INTERNET CITY FREE ZONE COMPANY

Our Promise

  • Deliver your Dubai Internet City Free Zone Company in 5-15 Days
  • Open a bank account with e-banking and credit card
  • Secure your tax optimisation
  • Value for money services, no hidden costs
  • Full confidentiality
  • Prompt, professional and personal service at all times
Register your company

 

A HIGHLIGHT OF DUBAI INTERNET CITY FREE ZONE (ONSHORE) COMPANY

Dubai Internet City Free Zone UAEDubai Technology & Media Free Zone Authority (DTMFZA) is mainly tasked with overseeing the establishment and registration of companies that intend to operate in Dubai Internet City.

DIC (Dubai Internet City) prides in being the largest ICT (Information, Communications and Technology) hub in the Middle East as well as in North Africa. From 2000, DIC has played a very strategic role in ensuring that it is able to develop a successful technology organizations’ ecosystem. In addition to this it has also played a very vocal role in enhancing Dubai’s vision into an economy that has its base on knowledge.DIC pays host to over 500 Fortune companies and multinationals with the inclusion of global players such as Facebook and LinkedIn. Further, it also hosts some of the most dynamic and vibrant technology SME’s (Small Medium Enterprises’) and all ICT value chain start-ups.

DIC enables easy extensive multi-lingual talent pool access with the ready availability of a wide variety of skills and industry competence. What’s more important is that is that DIC also provides top mark facilities that include state of the art offices, 24 hour security, hotel and other retail services, an efficient IT infrastructure and an economically viable environment for business thriving.

LICENSE TYPES

Commercial /Trading: Holders permitted to undertake imports and exports among other transactions.

Services: IT services, multimedia and internet, activities & projects associated with developing, installing, and or modification of software products.

Freelance permits: opportunities of operating as freelance professionals.

REGISTRATION FORMS

Free Zone Liability Company (FZ-LLC): a FZL-LLC is established as a separate legal entity with its shareholders as entities and or individuals. Each FZ-LLC requires having a minimum of one director with the minimum share capital being AED50, 000.

Branch of an already existing UAE or foreign company: A branch of a UAE or foreign company is not considered as a legal separate entity from its parent company but as a place of business that constitutes a legally department of the parent company. The business is required to conduct some or all of its operation inherent in the parent company’s business. No share capital requirement.

 

KEY BENEFITS

  • Full 50 years exemption from personal income tax;
  • Full 50 years exemption from corporate tax;
  • Full foreign ownership;
  • Full profits repatriation;
  • Metro Ethernet environment;
  • Vibrant international community;
  • Business interaction and networking opportunities;
  • Channel and market development opportunities;
  • Highly defined communications infrastructure with their concept being based on next-generation technological advancements;
  • Affordable digital voice and fast data services;
  • Confidentiality as no requirement on disclosing records.
 

DIC TAXES

Companies in DIC enjoy a whole range of free zone benefits that include the exemption of corporate and income tax for 50 years. This edges out as the main reason why DIC is economically attractive for most investors to invest in.

 

DUBAI INTERNET CITY FREE ZONE COMPANY CORPORATE AND LEGAL FEATURES

COMPANY NAME

You should provide a list of preferred company names for approval purposes. Usually, the authority strives to reserve the first choice.

DIRECTOR

At least one director / manager and no maximum (only individuals allowed but not corporate).

SHAREHOLDER

At least one shareholder and a maximum of five (can either be an individual or corporate).

SHARE CAPITAL

Minimum share capital is AED 50,000 per each shareholder. The share capital should be deposited in the company’s bank account. Additionally, proof of the deposit should be forwarded to the authority before the issuance of the license.

OFFICES

It is required that the company should rent a facility and proof of this renting forwarded to the authority before being issued with the license.

TRADE LICENSE

The validity of the trade license stands at one year after which it should be renewed before the expiry date of the current license or within 30 days after the expiry.

AUDIT

Financial audits should be done annually but as of now, there is no provision that requires for the filing of the audit. Usually the reporting period is one year but companies are free to nominate their own reporting dates which should not be less than 6 months or more than 18 months.

 

VISA APPLICATIONS

The number of visas that your company is eligible for is mainly dependent on the office size of your company. By approximation, one visa per 10 square meters is available and this is assessed separately by the authority .In addition to this, the assessment is dependent on the business activities being carried out. Usually, the whole process takes about 4-7 working days but the duration is not fixed as there are approvals that need to be done by the Immigration Department.

 

IMPORTANT INFORMATION

  • If you wish to directly trade within the United Arab Emirates (through a free zone company) there are two options that you can use. Firstly, you can either trade directly with an LLC company that has been issued with an import/export license. Second, you can strike a deal with a logistics company that will clear your goods and have them delivered to the mainland. It is important to note that a free zone company may not directly sell its goods (retail) to the local market.
  • Service companies with the intentions of providing services to a company that is not within the free zone, the general rule provides that services must be offered within the free zone. In addition to this, there are specific exceptions such as recruitment services that provide for more strict rules.
  • Free zone license holders are allowed to import goods and equipments from any foreign nation thereof without paying custom duties. Custom duty only applies when goods are moved out the free zone. However, it is important to note there are several warehousing facilities that offer storage services for companies that intend to re-export their goods. When storing these goods, the companies are required to pay a deposit equal to the custom duty but upon re-export of the goods, the deposit is refunded.
  • Custom duty for most goods and products is usually calculated on the CIF value at a 5% rate .Alcohol/ liquor imports are subjected to 50% custom duty on their CIF value while tobacco products are subjected to 100% custom duty of their CIF value. Foodstuffs and pharmaceuticals are duty free and are not subjected to any custom duty whatsoever.
  • Documents required by customs are such as goods declaration, certificate of origin, bill of lading and invoice copies. As customs requirements keep changing, there may be other additional documents required. Visit www.dubaicustoms.gov.ae to be updated on the changing nature of customs.