Initiating the process of business setup in Dubai Media City free zone allows foreign investors to be part of the leading media hub in the Middle East. You can apply for a license in the free zone through business setup consultants in Dubai to speed up the company formation process. The free zone comes with a wide range of benefits including a premium address, strategic location, limited liability for professional services, 100% ownership, availability of all services under one roof, and easy connectivity through land, air and sea.
Company formation in Dubai Media City is ideal for publishing, broadcasting, online media, advertising agencies, production houses, newsgroups etc. Moreover, Dubai Media City’s freelance permit allows individuals to practice lucrative media-related activities without company sponsorship. If any of these benefits appeal to you, then read ahead to know more about starting a business in Dubai Media City.
What Are the Activities Permitted in Dubai Media City?
Dubai Media City permits a diverse range of business activities under relevant trade licenses. The free zone is operated by the Tecom Group but is being regulated by the Dubai Development Authority (DDA). Obtaining a trade license in Dubai Media City allows you to carry out the following activities (remember, this is not a comprehensive list but you can get the full list of activities by consulting with the business setup consultants in Dubai):
- Media & Marketing Services
- Business & Information Services
- New Media & Media Support Service
- Event & Leisure
- Consultancy and Retail
- Media and Marketing Consultancy
- Advertising and Communication
What Types of Facilities Can You Get in Dubai Media City?
The regulations of business setup in Dubai Media City allow you to access certain robust facilities at affordable costs. Selecting the right facility can be a complex process but it can be navigated easily with the help of business setup consultants in Dubai. You can obtain the following types of facilities in Dubai Media City:
- Commercial spaces
- Coworking spaces named D/Quarters
- Boutique studios
- Sound stages & studios
- Auditorium for conferences and corporate events
How to Set Up a Business in Dubai Media City?
The process of business setup in Dubai Media City is fairly straightforward and can be completed in a few weeks. You can avoid unnecessary delays and inaccurate documentation by applying through business setup consultants in Dubai. You can open a company in Dubai Media City through the following steps:
- Select a business activity
- Name your company in Dubai Media City
- Determine the number of shareholders
- Submit the properly filled application form
- Submit all the documents and wait for DDA approval
- Sign the Memorandum of Association (MoA) in the presence of shareholders
- Sign the lease agreement and receive the trade license
What Documents Must Be Submitted?
Proper documentation is the key to quickly obtaining a business license in Dubai Media City. Inaccurate or inadequate documentation can delay the process of business setup in Dubai Media City. The company formation process can be made risk-free by applying through the best business setup consultants in Dubai. You need to be ready with the following documents before applying for a license in Dubai Media City:
- Business plan
- Colour copy of the passport of the manager/director/legal representative
- Original MOA and AOA
- Board Resolution
- NOC from residency visa sponsor
- Proof of share capital
- Managers’ specimen signature
- Registration and License fee
What Compliance Requirements You Must Meet in Dubai Media City?
Companies operating in Dubai Media City need to comply with the latest regulations set out by the UAE government. These regulations include Ultimate Beneficial Ownership (UBO), Economic Substance Regulation (ESR) and Anti-Money Laundering and Combatting the Financing of Terrorism (AML-CFT). It is advisable to seek the help of business setup consultants in Dubai to meet such requirements as non-compliance may lead to hefty penalties. Remember that even companies undergoing liquidation in Dubai Media City are required to check their compliance status to avoid penalties.
Applicability of Corporate Tax in Dubai Media City
Subject to a few conditions, UAE Freezones will continue to benefit from tax relief despite Corporate Tax having been implemented from 1st June 2023. Consult with business setup consultants in Dubai for more information.
What is the Benefit of Opening a Company in Dubai Media City?
The process of company formation in Dubai Media City offers a host of benefits to foreign investors. Some of those benefits are listed below:
- Opportunity to be part of a thriving community of freelancers, startups and large media businesses
- Access to highly developed media infrastructure
- Ability to work in a distinctive cluster ecosystem
- Integrated coworking spaces
- Premium address
- The easy company formation procedure
- Full control over the company with 100% ownership
Consult with the Leading Business Setup Consultants in Dubai
Due to the easy business setup procedure and world-class infrastructure, foreign investors seeking to set up a media business in Dubai must consider Dubai Media City as their first choice. Right from choosing the business activity to securing a trade license, there are a host of processes involved that can be made easier with the help of the best business setup consultants in Dubai. Having an experienced business setup adviser like Jitendra Business Consultants (JBC) provides the entrepreneurs with the benefits of legal know-how, market knowledge, and assistance in dealing with the authorities.
JBC has a team of highly qualified business setup consultants in Dubai, UAE, well-versed in labour laws, immigration laws and the free zone regulations. JBC helps the investors draft the MoA and provides help with visa processing, bank account opening etc. With JBC by the side, company formation in Dubai Media City becomes easy. Thereby the investors can achieve their business goals.