Freezone Company Setup in Dubai Internet City

Dubai Internet City Freezone (DIC) has carved a niche for itself in advancing its tech ecosystem and communication sector globally. DIC was founded in October 1999 as a member of Dubai Holding Subsidiary TECOM Investments. In October 2000, DIC opened its doors for various business ventures. Since then, DIC has been serving as an excellent platform for Information and Communication Technology (ICT) companies to gain exposure in the Middle East and International markets.

Being located in the heart of Dubai, Dubai Internet City Freezone (DIC) is a particularly appealing place for setting up your business. Easy accessibility to Sheikh Zayad Road and other thrust areas in Dubai coupled with its business-friendly environment are alluring entrepreneurs across the world to start their business in Dubai Internet Freezone. With constant efforts and coherent usage of innovative techniques, DIC has emerged as a promising tech hub where the skills of entrepreneurs can be enhanced in different realms. For instance, the in5 innovation centers in Dubai Internet City Freezone (DIC) is a well-known tech startup accelerator that provides creative spaces, mentorship, and training programs to meet your business goals and to provide ideas to iron out the problems in the process of your business growth. Thus, a business set up in Dubai Internet Freezone is a lucrative chance to grow your business internationally and establish a reputed brand name.

Dubai Internet City Freezone is home to numerous global brands as well as small and large-scale organizations. The companies functioning in Dubai Internet Freezone are from the following sectors

• Software development
• Ecommerce
• Internet and Multimedia
• Business services
• Consultancy
• Sales and Marketing

Advantages of Business Setup in Dubai Internet City Freezone

The networking opportunities, incredible tax system, and drastic development in the infrastructure facilities are calling investors across the world to set up their business in Dubai Internet City Freezone. Here are some key advantages that you will enjoy when you start your business in DIC.

• 100% foreign ownership
• Specified for Information and Communication technology companies
• Full freedom to repatriate capital and profits
• Exempted from corporate income for 50 years
• Exempted from personal income for 50 years (guaranteed by law)
• Offers commercial space as per your requirements
• Offers Digital voice and high-speed data services at an affordable price
• The largest commercial IP Telephony network in the world is owned by DIC
• Metro Ethernet broadband infrastructure
• Dynamic international community
• Market development opportunities
• Cyber regulations & protection of IP
• No currency restrictions
• 24-hour security

Rent an office in Dubai Internet Freezone City

• Commercial Spaces- These include innovation centers, prototyping labs, retail, and event venues, etc.
• D/ Quarters- Provides a co-working space that creates a collaborative environment. Office, desk, and open quarters are the different choices for you.
• In5 Centres- Their services comprise a business incubation program, an annual membership as well as venues and equipment hire, allowing the shortlisted students, entrepreneurs, and startups to succeed.

Types of Legal Entities in Dubai Internet City Freezone

1. Free Zone Limited Liability Company (FZ-LLC)
   • Owned by 1 to 50 members that can be either individuals or corporate shareholders
2. Branch of a Foreign Company
   • The applicant should be a foreign national corporate person
   • Such companies have no capitalization requirements.
3. Branch of a UAE Company
   • The applicant should be a UAE-registered corporate person
   • Such companies have no capitalization requirements

Types of Licenses Required for doing business in Dubai Internet City Freezone

The following are the most common licenses in Dubai Internet City Freezone

• Software License- A software license is given to activities such as developing new brand software, installing, operating, and/or modifying parts of software for meeting the company’s profitable objectives.
• Telecommunication and Network- This license is issued to business activities relating to developing, installing, and modifying networks as well as providing similarly designed services for operating network-based applications or services for self or for third parties.
• IT Service- This license comprises providing standardized repeatable IT-based services that include security solutions, training, localization, translation, and corporate learning.
• E-Commerce- An e-commerce license is needed to conduct activities relating to the selling of individual services and products to third parties through electronic media like an internet search engine, website, portal, social media, and so on.
• Internet and Multimedia- This license is provided for any activities involving the creation and distribution of the internet or distributing other multimedia content or services through the internet such as presenting an online platform or acting as an intermediary between various companies or individuals.

The validity of the license is one year and should be renewed annually. If you fail to renew the license before the expiry date, the authorities will impose a penalty for the same. The companies registered in the Dubai Internet City Freezone are bound to submit audit reports annually.

How to set up a business in Dubai Internet City Freezone?

Follow the steps given below to set up your business in Dubai Internet Freezone

• Determine the type of legal entity
• Select the Company’s name
• Apply for a business license
• Open Bank Account
• Choose an office space
• Submit your application
• complete the required paperwork and payment
• Get approval and collect your license along with all the necessary documents

With the support of a professional firm, the business set up in Dubai Internet City Freezone can be completed within a few days.

HLB HAMT to Assist

Do you want to set up your business in Dubai Internet City Freezone?

Don’t get grey about the procedures. We are available to support you and direct you in the proper way. Our expert team will listen to your requirements and suggest ideas that address all your concerns. Our team of experienced professionals is always vigilant in conducting the business licensing process without any hurdles. Contact us for a free consultation.

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