Dubai International Academic City (DIAC) is a free zone specifically designed to support the growth of the educational sector in the region. The landscape of business setup in Dubai is ideal for companies involved in the education sector due to benefits such as 100% foreign ownership, modern facilities, strategic location and the availability of all types of business support services under one roof. However, you need to meet certain conditions and requirements to set up a business in DIAC and leverage these benefits.
Foreign entrepreneurs may find such regulations complex but business setup consultants in Dubai can help them easily navigate the requirements. Here is a glimpse into the features and benefits of company formation in Dubai International Academic City:
Activities Permitted in Dubai International Academic City
As the name suggests, the DIAC free zone promotes the registration of educational companies in Dubai. The activities permitted in the free zone are related to the key segments of the higher education industry. Selecting an activity is a key step in the process of company formation in Dubai and hence we have listed below the core business activities permitted in DIAC free zone:
- Higher Education Provider
- Non-Academic Services Provider
- Educational Support Services
- Early Learning Centre
Types of Legal Entities in Dubai International Academic City
You need to select a legal structure while registering a company with the DIAC Authority. The legal structure is determined based on the number of shareholders. You can incorporate a company in DIAC as a Free Zone Limited Liability Company (FZ LLC), the branch office of a local company or the branch office of a foreign company. DIAC also allows individuals to carry out educational activities under a freelancer permit. Company setup consultants in Dubai can advise you on the type of companies you can open in DIAC free zone.
Facilities in Dubai International Academic City
The type of facility you choose has a critical role in the success of your business. Choosing the wrong facility can affect the growth of a company in the future. DIAC offers modern infrastructure and world-class facilities for educational entrepreneurs to set up a business in Dubai. DIAC offers facilities such as land plots, commercial floor space, hot desks, and executive desks.
Compliance Requirements in Dubai International Academic City
Companies registered with DIAC are required to comply with a series of regulatory requirements such as Ultimate Beneficial Ownership (UBO), Economic Substance Regulations (ESR) and Anti-Money Laundering & Combatting Financing of Terrorism (AML-CFT). Compliance failure will result in hefty penalties and reputation damage. You can seek the advice of business setup consultants in Dubai to avoid such unforeseen events.
How to Setup a Business in Dubai International Academic City?
The process of company formation in DIAC is simple and can be completed in a few steps. However, you can avail of the best business setup services in Dubai to expedite the licensing procedures. The process of company incorporation in DIAC can be completed in the following steps:
- Select a business activity
- Determine the legal structure
- Reserve a tradename
- Submit the application form
- Sign the lease agreement
- Receive the license
- Apply for visas
- Open a bank account
Benefits of Business Setup in Dubai International Academic City
Company registration in DIAC provides the following benefits to foreign investors:
- 100% foreign ownership
- 100% repatriation of profits
- No import and export duties
- Low operational costs
- Strategic location
- World-class office spaces
- Easy to obtain a visa for students, staff, and faculties
Get the Best Business Setup Services in Dubai, UAE
The process of business setup in Dubai International Academic City comes with benefits such as strategic location, excellent connectivity, robust infrastructure etc. However, availing of bespoke business setup services in Dubai from Jitendra Business Consultants (JBC) can make the process easier. Applying business setup consultants in Dubai such as JBC is the best way to accurately select activities, determine an appropriate legal structure and properly draft the legal documents. JBC’s bespoke company setup services in Dubai also include visa processing, assistance in bank account opening, and compliance services such as ESR, UBO, and AML-CFT.