Established in 2003, Dubai Production City is one of the prominent media-related free zone clusters managed by the TECOM Group. The regulations, licensing and the process of business setup in Dubai Production City are being controlled and regulated by the Dubai Development Authority (DDA). The free zone is conceived as a world-class hub for lucrative business activities such as media production, printing, publishing packaging etc.
By setting up a business in Dubai Production City, foreign investors get direct access to the free zone’s state-of-the-art infrastructure, business-friendly environment, retail and residential developments, and the opportunity to be part of a vibrant community of entrepreneurs, investors, freelancers and media professionals. Over the years, the free zone has achieved rapid growth and managed to maintain a good reputation among international investors. Dubai Production City is now home to over 220 reputed companies (Sony, Xerox, DG World etc) and 6,800 talented professionals.
Investors attracted by the unparalleled benefits of the free zone can seek help from business setup consultants in Dubai to obtain a trade license. Read ahead to know further about opening a company in Dubai Production City.
Types of Legal Entities in Dubai Production City
Investors should determine the type of company that fits their activity and shareholding structure before starting the procedure of business setup in Dubai Production City. Based on the number of shareholders, the following legal entities can be incorporated in Dubai Production City:
1. Free Zone Limited Liability Company
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A Free Zone Limited Liability Company (FZ-LLC) can be established in Dubai Production City with at least two shareholders. The shareholders can be individuals, corporate entities or a mix of the two. Business setup advisers in Dubai can assist foreign entrepreneurs to set up an FZ-LLC.
2. Branch of a Foreign Company
Companies incorporated in a country outside the UAE can leverage the free zone’s benefits by setting up a branch in Dubai Production City. The business activities of the branch should mirror the activities undertaken by the parent company. Approach business setup consultants in Dubai for a hassle-free branch company formation.
3. Branch of a Local Company
Not only foreign entities but UAE-based companies are also allowed to open a branch office within Dubai Production City Free Zone. A branch office is legally dependent on its parent company and must carry out all or some of the activities of its parent entity.
4. Freelance Permit
Freelance permits in Dubai Production City are issued to individuals who wish to carry out their work independently. In recent times, especially after the pandemic, freelancing activities have gained more demand from across the world. The popularity of remote work opportunities has also enhanced the demand for freelancers.
Activities Permitted in Dubai Production City
Every investor selects a free zone in Dubai based on the activities permitted by the free zone authority. The DDA permits a wide range of business activities to be carried out within Dubai Production City. Business setup consultants in Dubai can provide advice on the selection of business activities. The following activities are permitted in Dubai Production City:
- Printing & Packaging Machinery
- Printing Consumables
- Printing Press
- Signage & Exhibition
- Publishing Support Services
- Promotional Services
- General Warehousing
Process of Business Setup in Dubai Production City
Foreign investors need not encounter any bureaucratic red tape while setting up a business in any of the UAE free zones. The same is true with the process of business setup in Dubai Production City as DDA’s regulations are straightforward and flexible. For faster complete incorporation, investors can consult with business setup consultants in Dubai as well. However, the following steps must be executed to open a business in Dubai Production City:
- Choose an activity permitted by DDA
- Identify an appropriate legal structure
- Select a name for the proposed company
- Lease an office space/facility
- Submit documents and pay the fee
- Receive a trade license
- Apply for a visa
- Open a bank account
Documents Required for Company Formation in Dubai Production City
Foreign investors choose free zones for business setup in Dubai as they offer a less stringent licensing process. Even then, they must provide all the mandatory documents requested by the free zone authority. Inaccurate or inadequate documentation will lead to unnecessary delays in the process. Stated below are some of the major documents required for company formation in Dubai Production City:
- Application form
- Business plan
- Passport copies of shareholders
- NOC from current sponsor (if applicable)
- Original bank reference letters for each shareholder
- Attested and notarised Memorandum of Association/Article of Association
- Attested and notarised Board resolution
Location & Infrastructure Overview of Dubai Production City
Dubai Production City is strategically located at the juncture between the spinal highway Sheikh Mohammed Bin Zayed Road (E11), and Al Khail Road. This strategic location is highly advantageous in the terms of connectivity as there is only a 35-minute drive to the Dubai international airport (tastes route) and a little over one hour to Abu Dhabi, the capital city.
The free zone is built as a mixed-use 43 million square foot development that is home to both commercial and residential buildings. Dubai Production City houses robust warehouses and office structures, as residential buildings. Moreover, flexible co-working spaces are available for SMEs, startups and freelancers. Business setup consultants in Dubai can offer more insights on facilities in Dubai Production City.
Benefits of Business Setup in Dubai Production City
A foreign investor setting eyes on a free zone would first check the key benefits it offers. Entrepreneurs will be more interested in benefits related to location, facilities, tax, ownership structure etc. Based on such parameters, the benefits of business setup in Dubai Production City are summarised as follows:
- 100% foreign ownership
- 100% repatriation of capital & profits
- Zero corporate tax and personal income tax
- Strategic location
- Excellent connectivity to all trading hubs in the region
- World-class infrastructure
- High-end technology use
- Wide range of facilities including Flexi-desks, fully fitted offices and warehouses
Compliance Requirements in Dubai Production City
Investors should assess their compliance requirements related to Ultimate Beneficial Ownership (UBO), Economic Substance Regulation (ESR) and Anti-Money Laundering & Combating Financing of Terrorism (AML-CFT) while setting up a business in Dubai Production City. Failing to meet such legal compliance requirements in Dubai Production City will lead to hefty penalties.
Other consequences such as suspension of trade license and sharing of information with foreign competent authority are also likely depending on the violation committed by the companies. A company that has applied for liquidation in Dubai Production City is also required to assess its compliance status. Investors having access to business setup services in Dubai can easily ensure compliance with ESR, UBO and AML-CFT.
Avail of the Best Business Setup Services in Dubai, UAE
Foreign investors who are new to the environment of business setup in Dubai often get perplexed by the laws and regulations. Even though the process of business setup in Dubai Production City is flexible, having access to bespoke business setup services will help entrepreneurs to expedite the procedures and ensure legal compliance. Jitendra Business Consultants (JBC) is a leading provider of businesses setup services in Dubai that can help entrepreneurs to simplify the incorporation process.
JBC is one of the leading business setup consultants in Dubai, with more than 20 years of experience. We have a team of highly qualified business setup advisers who can help foreign investors to navigate the challenges of UAE laws and immigration laws. Our bespoke services include PRO services, document drafting and legal translation, and compliance services such as ESR, UBO, and AML-CFT. Call us today to ensure a seamless company formation experience in Dubai.