Dubai Internet City Free Zone plays a crucial role in the growth and development of Information and Communications Technology (ICT) companies in the Middle East region. The free zone was established in 1999 but opened its door for company formation in 2000. From then on, the free zone has served as a blessing for ICT investors who longed for a flexible process of business setup in Dubai. The environment of business setup in Dubai Internet City offers a knowledge-based ecosystem for ICT companies and entrepreneurs.
Dubai Internet City Free Zone is regulated by the Dubai Development Authority (DDA), which issues the licenses for the companies. Foreign investors who wish to set up a company in Dubai Internet City must know about the rules and regulations set out by the DDA. However, consulting with the best business setup consultants in Dubai is a viable solution to navigate the DDA’s regulatory regime.
Here is an in-depth insight into the licenses, facilities and benefits associated with company formation in Dubai Internet City. Read on.
Business Activities in Dubai Internet City
Dubai Internet City offers a diverse range of activities, especially the activities related to advance technology. Some of the activities available for business setup in Dubai Internet City are as follows:
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- Internet and Multimedia
- Telecommunication & Network
- It Services
- Digital Marketing
- Gaming & E-sports
- Digital and Interactive Game Development
- Gaming Publishers
- E-sports Events
This is not an extensive list of business activities in Dubai Internet City. The free zone also allows sub-activities such as consultancy services, developer, customer, support service provider etc. Consult with business setup consultants in Dubai to know about the complete list of business activities in the free zone.
Types of Companies in Dubai Internet City Free Zone
Before planning to apply for a license in Dubai Internet City, the investors should understand the legal structures permitted in the free zone. The following are some of the activities permitted in Dubai Internet City Free Zone:
1. Free Zone Limited Liability Company
The free zone limited liability company (FZ-LLC) is the most preferred type of legal structure in Dubai Internet City. The FZ-LLC allows the companies to have a natural person as a shareholder in the company. Apart from that, the companies can have a mix of natural persons and corporate groups as shareholders or corporate shareholders alone.
2. Branch of Foreign & UAE Companies
Companies operating in both the UAE and outside the UAE can establish their branch offices in Dubai Internet City free zone. However, the activities of the parent company and the branch should match.
Individuals who want to be their own boss can obtain a freelance permit in Dubai Internet City. Business setup consultants in Dubai can help the investors obtain a freelancer permit without any hassle.
Facilities Available in Dubai Internet City
Having a prestigious address is one of the vital aspects of deciding the success of a business. The facility where the business is located influences the customer’s or investor’s perspective about the company. Furthermore, the office or commercial space should be spacious enough to meet the requirements of the company. Fortunately, the commercial or office spaces in Dubai Internet City offer the investors adequate facilities to meet their business requirements. Dubai Internet City offers the following facilities for investors:
Innovation Hub in Dubai Internet City
The Innovation Hub in Dubai Internet City is composed of commercial, retail and event spaces. The 1.8-million-square-foot Hub will enhance the growth of entrepreneurs, innovators and businesses.
Co-working Spaces in Dubai Internet City
The sophisticated co-working spaces in Dubai Internet City will allow the entrepreneurs to start the business at affordable costs. The Flexi-desks come in at a ready-to-move-in condition. Private offices are available for bigger companies with more employees.
Retail Spaces in Dubai Internet City
The free zone has ample spaces for retail businesses. Since Dubai Internet City is home to a vibrant community of 24,000 plus professionals, setting up a retail business is highly profitable.
In5 Centres in Dubai Internet City
Dubai Internet City Free Zone has special spaces for innovative start-ups called h In5. It offers creative spaces, training and mentorship programmes, networking events and access to investors etc.
Benefits of Setting up a Business in Dubai Internet City
By Setting up a business in Dubai Internet City, the investors are exposed to the following benefits
1. Robust setup process
Companies incorporated in the free zone attest that they had an easy time setting up a business in Dubai Internet Free Zone. There is nothing surprising in such testimonials as the process of business setup in Dubai Internet City is rather straightforward. Entrepreneurs just need to submit the business plan and relevant documents to obtain a license from Dubai Internet City Free Zone. The registration process can be completed within not less than a month. However, the time to register the company can be reduced further by applying for a license through business setup consultants in Dubai.
2. Home to a number of ICT companies
The process of business setup in Dubai Internet City maintains huge popularity among foreign investors as the free zone offers a wide range of business activities. The free zone is open to companies engaged in almost all the ICT activities such as software, hardware and digital marketing. This is the reason why all the major ICT stalwarts such as Facebook, Google, Microsoft and IBM are made the decision to call Dubai Internet City their home in the UAE. Consult with business setup consultants in Dubai to select the right business activities.
3. Easy to open bank accounts
Opening a bank account in Dubai or the UAE is one of the most important tasks for businesses. However, the process has been riddled with some due diligence challenges since the introduction of Anti-money Laundering (AML) laws in the UAE. However, the reputation of Dubai Internet City will come in handy for the investors while opening a bank account in the UAE. The free zone staff will help the entrepreneurs navigate the process of bank account opening in Dubai. International banks trust the free zone, and it will make things easier for foreign investors. Furthermore, business setup experts in Dubai can help entrepreneurs open bank accounts without any hassle.
4. Sponsor dependants with ease
Dubai Internet Free Zone provides foreign investors with a simple process of obtaining a UAE visa for the investors. Apart from that, the free zone assists the entrepreneurs to sponsor their staff, family members, maid, drivers etc., in filing visa applications. Sponsoring of dependents include mandatory steps such as entry permit, status adjustment, a medical fitness test, Emirates ID registration and visa stamping. These are complicated processes, but businesses in Dubai Internet City can navigate them easily. Furthermore, business setup consultants in Dubai can offer their PRO services to sponsor the dependents of investors.
5. Strategic Location
Dubai Internet City is favoured by foreign investors due to its strategic location. The free zone is strategically located at the heart of Dubai. Companies can have a prestigious address as the free zone is located at Sheikh Zayed Road, which is one of the main highways in Dubai. The free zone is also close to many major ports and International airports such as Dubai International Airport and Al Maktoum International Airport.
Avail of the Best Business Setup Services in Dubai, UAE
The process of business setup in Dubai Internet City will be smooth if the investors comply with all the regulations set out by the DDA. New entrepreneurs often struggle to ensure compliance with the laws and regulations governing company formation in Dubai. However, consulting with the best business setup consultants in Dubai, such as Jitendra Business Consultants (JBC), is the most viable way to navigate such complex requirements.
JBC is known for providing the best business setup services in Dubai so that foreign investors can navigate the challenges of company formation easily. We help the foreign investors by assisting in the selection of activities, bank account opening, visa processing, selection of office spaces, drafting of documents and providing PRO services. As a result, foreign investors can avail of our business formation services to quickly establish their presence in the region.