Free zone is a particular geographical area in the emirate where 100% foreign ownership is allowed. Free zones do not require partnership with a UAE citizen or with a local service agent.
Dubai Internet City (DIC) is a free zone with a strong focus on Information Technologies. DIC operates under umbrella of Dubai Holding and Tecom Investments.
Dubai Internet City became a base for Fortune 500 companies, including Facebook and LinkedIn, as well as it welcomed a whole range of dynamically developing start-ups.
Dubai Internet City supports young talents, therefore, free zone established an Innovation center “In5 innovation Hub” and a business center “First Steps”.
DIC is best suited for companies which business is related to Information Technologies.
It is important to mention that the area of the free zone is very limited geographically, as such, Dubai Internet City started offering its member companies offices in Dubai Outsource Zone. In general, one can rent in DIC a workstation, furnished executive office or an unfurnished commercial space of a big size. Therefore, it is highly recommended before any registration to enquire about availability of a suitable lease option.
minimum share capital requirement amounts to AED 50,000 (USD 13,698). Share capital needs to be deposited into company’s bank account.
1 year only, as in any other emirate, after which the license needs to be renewed.
DIC requires all companies registered in the free zone to submit audit reports on an annual basis.
Company’s license should be renewed before expiry date to avoid payment of late renewal penalties.
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