LET US SHOW YOU THE WAY ... TO THE TOP
Dubai Knowledge Village edges out as a one of a kind business hub that offers exclusive business opportunities.
These opportunities are such as Human Resource Management Consultation, Personal Development Programs and Training on a picturesque 1km long location in the center of Dubai.
DTMFZA (Dubai Technology & Media Free Zone Authority) is tasked with the establishment and registration of companies in DKV. This Knowledge Village is a member of the amazing TECOM Investment Education Cluster.
DKV is strategically located in the central part of Dubai, next to Dubai Internet City and Dubai Media City. DKV takes pride as being the only free zone in the world that is dedicated to Human Resource Management and outstanding learning excellence. DKV was established back in 2003 as part of TECOM Investments and aims at developing the region’s talent pool and establish the United Arab Emirates as an economy based on knowledge. DKV has more than 500 business partners and aims at establishing itself as a center of excellence for professional development and a trusted business partner.
Commercial: Commercial developer.
Services: Human resource trading and development, online training and development and human resource consultancy.
Freelance permits: freelance professional operation.
Free Zone Liability Company (FZ-LLCA, FZLLC): established as a separate legal entity with its shareholders being individuals and or entities. Each FZ-LLC should have a minimum of one director.
Branch of an already existing Foreign or UAE based company: A branch of a foreign or a UAE company is not considered as a legal entity separate from the parent company but considered as a place of business that constitutes a legal dependent of the parent company. The branch is required to conduct some or all of its operation in relation to the parent company’s business. The parent company needs to have been in operation for not less than 2 years. There is no share capital requirement.
Freelancer: The Freelancer Permit allows holders to operate as freelance professionals. This is by conducting business in the freelancer’s birth name instead of a brand name.
Companies located in DKV enjoy very exclusive benefits that include the exemption from corporate and income tax for 50 years. This edges out as a key attraction benefit that persuades investors to establish their business facilities in DKV.
The Company should provide a list of preferred names for approval by the authority. Mostly, the authority confines itself to reserving the first choice name.
At least one director/ manager required and only individuals are allowed.
At least one shareholder (individual or corporate).
It is required that the share capital should be deposited in the bank account of the company and proof of the deposit should be forwarded to the reference before obtaining the trade license. After the business plan and application form documents are submitted, the authority identifies the minimum share capital payable.
It is required for the company to rent a facility and forward proof of the same to the authority so as to be issued with the trading license.
The validity of the trade license is one year after which the license requires to be renewed before the expiry date or within 30 days after the expiry date.
An annual finance audit requires to be conducted by there is no requirement that provides for the filing of the same. Reporting date is usually one year but a company can nominate its own date as long as it’s not less than 6 months or more than 18 months.
The size of the office that a company takes is the main determining factor as far as the number of visas that a company is eligible for is concerned. Basically, one visa requires about 10 square meters and the issuance of visas is assessed on a case by case basis and is dependent on the business activities being undertaken. The issuance of visas takes about 4-7 working days but may change due to approvals by the immigration department.