Managed by the Tecom Group, Dubai Industrial City is a premium free zone established to bolster the growth of the industrial sector in the UAE. Dubai Industrial City was established in 2004 with an ambitious aim to become the preferred manufacturing and logistic hub in the Middle East region. The landscape of business setup in Dubai Industrial City is highly conducive to manufacturing and logistic businesses as the free zone offers the best infrastructure, facilities, and services to carry out industrial activities.
Dubai Industrial City mainly attracts investors from the light and medium manufacturing sectors with a special focus on food and beverage, base metals, transport equipment and parts, machinery and mechanical equipment, workshops, logistics, chemicals, and mineral products. The free zone is now home to more than 700 companies, which shows Dubai Industrial City’s attractiveness among foreign entrepreneurs. Business set up consultants in Dubai can help foreign investors to navigate the complexities of the licensing process. Read ahead to know further about the process of business setup in Dubai Industrial City.
Types of Legal Entities in Dubai Industrial City
Foreign investors must choose an appropriate legal structure to set up a business in Dubai Industrial City. The legal structure is determined by the number of shareholders and the nature of the business. Entrepreneurs can seek the assistance of business setup consultants in Dubai to determine the legal structure. Here is a list of legal entities recognised by Dubai Industrial City:
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Free Zone Limited Liability Company
A Free Zone Limited Liability Company (FZ-LLC) can be set up with at least two shareholders. However, the number of shareholders should not exceed 50.
Companies incorporated in the UAE can set up a branch in Dubai Industrial City. Not only the local companies, but foreign companies can also set up their branches in Dubai Industrial City. However, the activities of the branch must be consistent with that of the parent company.
Types of Licenses Permitted in Dubai Industrial City
Entrepreneurs need to identify the right licenses that match with their activity before initiating the process of business setup in Dubai Industrial City. Choosing the wrong license may detail the entire business plan. Dubai Industrial City offers a wide range of trade licenses for foreign investors. They are,
A trading license authorised activities such as buying and selling of goods and storage.
An Industrial License in Dubai Industrial City permits activities such as manufacturing.
Investors need to obtain a Service License in Dubai Industrial City to carry out professional services such as consulting, accounting etc.
Core Industrial Zones in Dubai Industrial City
Dubai Industrial City is the preferred free zone for investors targeting global markets. To provide the best environment of business setup for manufacturers, the free zone has built six industrial zones such as,
- Food and Beverage Zone
- Transport Equipment and Parts Zone
- Machinery and Equipment Zone
- Mineral Products Zone
- Base Metal Zone
- Chemicals Zone
Facilities in Dubai Industrial City
Investors often check the facilities offered by a free zone before setting up a business there. Entrepreneurs choose a free zone based on the facilities they are being offered. Facilities in Dubai Industrial City are world-class, designed to enhance industrial businesses. Investors can seek the assistance of business setup consultants in Dubai to choose the free zone facilities. Check out the following infrastructure facilities provided by Dubai Industrial City free zone:
- Industrial land
- Worker’s accommodation
- Commercial spaces
- Open yards
Benefits of Business Setup in Dubai Industrial City
It is imperative for foreign investors to know why they should form a company in Dubai Industrial City. By registering a company in Dubai Industrial City, investors are entitled to the following benefits:
- 100% foreign ownership
- Strategic location near Al Maktoum airport and Jebel Ali port
- Easy and convenient access to global markets through land, sea and air
- Complete repatriation of profits and capital
- No corporate tax and income tax
- Flexible incorporation procedure
- State of the art infrastructure
- Availability of pre-built warehouses
- No bureaucratic red tape to obtain licenses
- Easy availability skilled workforce
- Support to obtain visas
- Easy to open a corporate bank account
Process of Business Setup in Dubai Industrial City
Dubai Industrial City offers a flexible and easy licensing procedure for foreign investors. A company can be set up in Dubai Industrial City in the following steps:
- Choose a business activity
- Determine the legal structure
- Select a company name
- Lease a space
- Submit the documents
- Receive the license
- Apply for a UAE residence visa
- Open a bank account
Compliance Requirements in Dubai Industrial City
Companies incorporated in Dubai Industrial City must meet regulatory requirements such as Ultimate Beneficial Ownership (UBO), Economic Substance Regulations (ESR), and Anti-Money Laundering and Combatting Financing of Terrorism ( AML-CFT). While all the companies are required to meet their UBO obligations, entities must assess whether they fall within the scope of ESR & AML-CFT. Business owners can avail themselves of business setup services in Dubai to assess their ESR, AML-CFT obligations.
Choose the Best Business Setup Services in Dubai
Even though the process of business setup in Dubai Industrial City is simple, foreign investors still need the advice of experienced professionals. Complex procedures such as selecting the right legal structure, applying for a visa and opening bank accounts are not easy. A wrong decision may delay the process of company formation in Dubai Industrial City. Such complexities can be navigated by accessing the best business setup services in Dubai.
Jitendra Business Consultants (JBC) is currently the leading provider of business setup services in Dubai. We are a team of business setup consultants in Dubai with more than 20 years of experience. We have a team of business setup advisers in Dubai who are well-versed in UAE immigration laws and labour laws. Our bespoke services include PRO services, document drafting and translation, assistance in bank account opening, visa processing etc. JBC also provides value-added services including accounting, auditing, trademark registration, VAT registration etc. We also help investors to navigate compliance requirements related to UBO, ESR & AML-CFT laws. Consult with our business registration specialists to know further about company formation in Dubai Industrial City.