The process of business setup in Dubai Design District allows foreign entrepreneurs to have direct access to a community of established designers, creative artists, trendsetters and innovative in the field of design. Established in 2013, the free zone took no time to grow into Middle East’s No 1 hub for design, fashion, and culture. In a nutshell, Dubai Design District free zone can be described as an interactive ecosystem that nurtures emerging creatives and provides a platform for entrepreneurs to innovate the concepts of designing.
Dubai Design District is the ideal free zone for innovative design professionals and investors as it offers a wide range of activities, unique trade licenses, cost-effective office spaces and commercial spaces, and access to events such as the Dubai Design Week, Sole DXB. The company incorporation process is straightforward and can be completed in a few steps. The licensing process can be made faster by applying through business setup consultants in Dubai. More details on company formation in Dubai Design District are stated in this article.
Regulatory Structure of Dubai Design District
Dubai Design District free zone is a product of the Tecom Group that manages a cluster of creative and media free zone clusters in the emirate. However, the free zone is regulated by the Dubai Development Authority (DDA). DDA issues the free zone’s implementing regulations apart from controlling critical regulatory aspects like license issuance, license renewal, operations and company liquidation in Dubai Design District. Consult with business setup consultants in Dubai to navigate DDA’s rules.
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Permitted Business Activities in Dubai Design District
Choosing the right activity is a critical aspect of business setup in Dubai as it may have an impact on the company’s operations. Dubai Design District offers a diverse range of lucrative activities that will help the investors establish their presence in the Middle East market. It is also advisable to seek the assistance of business setup consultants in Dubai to choose the right activity. Here is a list of some of the top design-related activities permitted in Dubai Design District:
- Interior, Furniture and Objects
- Ancillary Services
- Beauty Care
- Marketing Services
- Event Management
Types of Legal Entities in Dubai Design District
Foreign investors need to decide the number of shareholders before initiating the process of business setup in the Dubai Design District. It’s a critical process as the number of shareholders determines the type of legal entity, they can incorporate in the Dubai Design District. If the legal structure appears to be confusing, investors can consult with the best business setup consultants in Dubai. See the list of entities below before finalising a legal structure for the proposed company:
Free Zone Limited Liability Company
A Free Zone Limited Liability Company (FZ LLC) can be incorporated in Dubai Design District with at least two shareholders. Investors relying upon business setup services in Dubai can make FZ LLC formation easier.
Branch of a Foreign Company
Companies registered outside the UAE can establish their branch office within Dubai Design District. The foreign branch office is not an independent legal entity and should carry out all or some of the activities of its parent company.
Branch of a Local UAE Company
Any UAE registered company can incorporate a branch office within Dubai Design District. However, the activities of the Dubai Design District branch must match the activities of the parent company. Branch company formation can be made simple with the assistance of business setup consultants in Dubai.
Freelancing has been a profitable activity in Dubai for the last few years. However, it has emerged as a Sunrise Sector in the post-pandemic era. Freelancing in Dubai Design District allows individuals to carry out business activities under their birth names instead of a company name. Obtaining a freelance permit in Dubai Design District is a cost-effective and flexible option for designers and other creative professionals.
Process of Business Setup in Dubai Design District
The process of business setup in Dubai Design District is pretty straightforward once the investors get a grasp over the licenses, activities, legal structure, and documentation. Availing business setup services in Dubai will help foreign investors to simplify the licensing process. Strictly follow the below steps to seamlessly incorporate a company in Dubai Design District:
- Choose an activity
- Identify an appropriate legal structure
- Select a company name
- Submit application
- Sign lease agreement
- Submit documents
- Receive trade license
- Open a corporate bank account
Benefits of Business Setup in Dubai Design District Free Zone
The environment of business setup in Dubai Design District is conducive to such as fashion, design, retail, luxury and hospitality. By registering a company with Dubai Design District, foreign investors are entitled to the following benefits:
- 100% ownership
- 100% repatriation of capital & profit
- No corporate tax or personal income tax
- Strategic location
- Excellent connectivity through land, sea and air
- Modern infrastructure and world-class facilities
- Access to workshops and major events
- Ability to network & collaborate with industry professionals
- Flexible mode of working in modern coworking spaces
- Mentorship for startups
- Investor-friendly regulations
Facilities Available in Dubai Design District
Facilities available for business setup in Dubai Design District are created to suit the needs of design startups, freelancers and big companies. Choosing the right facility is critical for investors as the wrong type of office spaces or commercial spaces would affect the daily operations of the company. It is advisable to seek the advice of business setup consultants in Dubai before choosing a facility. Stated below is a list of facilities available in Dubai Design District:
Coworking Spaces in Dubai Design District provides the investors with all the right tools and resources to keep the entrepreneurs and their team productive. The coworking spaces in Dubai Design District come with high-speed internet, 24*7 building access, meeting rooms, fun areas, pantry services etc.
Dubai Design District offers commercial spaces that boast superior standards and the option to maintain exposed ceilings and ‘raw’ features. Commercial spaces in Dubai Design District come with features such as LEED Certified & Grade-A buildings, basement storage space, multiple retail, wellness and F&B options etc.
In5Design is an innovation centre created for aspiring creative talents in the field of design. Located at the heart of the Dubai Design District, the In5Design centre provides a creative workspace and a one-of-a-kind prototyping lab for designers.
Retail spaces in Dubai Design District offers opportunities to relax, unwind and get fit. Investors and creative professionals can shop, dine, experience contemporary art and design, enjoy amazing events at the retail spaces. It comes with a range of design-led boutiques, showrooms, galleries, restaurants, cafés, gyms, shops, beauty salons etc.
Compliance in Dubai Design District
Businesses in Dubai Design District are bound by certain critical compliance requirements such as Economic Substance Regulations (ESR), Ultimate Beneficial Ownership (UBO) and Anti-Money Laundering and Combatting Financing of Terrorism (AML-CFT). Even companies under liquidation in Dubai Design District are required to meet such requirements. Non-compliance will lead to hefty penalties, but business setup consultants can help the business owners comply with the regulations.
Choose Bespoke Business Setup Services in Dubai, UAE
Even though the process of business setup in the Dubai Design District is straightforward, investors may encounter many roadblocks while applying for a trade license. Most of the obstacles stem from a lack of proper knowledge about UAE laws and regulations. Availing business setup services in Dubai can reduce such critical impediments. Jitendra Business Consultants (JBC) is one of the leading business setup consultants in Dubai providing bespoke company formation services.
JBC has a team of business setup advisers well-versed in UAE Immigration & labour laws. We help investors to solve complex tasks such as choosing business activities, determining appropriate legal structures, drafting legal documents, applying for visas, opening bank accounts etc. Our services also cover regulatory requirements such as ESR, UBO and AML-CFT. JBC helps entrepreneurs to set up a business quickly, enabling them to be operational as soon as possible.