Dubai Internet City (DIC)

  • Founded in:  2000
  • Location:  DUBAI FREE ZONES
  • Time for registration: 20 – 25 days
  • Types of licenses: trading, service, professional, freelance
  • Types of companies:  a new company, branch, subsidiary
  • Share capital:  minimum share capital is USD 13,698 (AED 50,000)

BRIEF OVERVIEW OF DUBAI INTERNET CITY (DIC)

Dubai Internet City (DIC) was founded in 2000 aimed to create a common ground for all information and communication technology (“ICT”) companies. Dubai Internet City is a hub built in a free trade zone area under the umbrella of TECOM Investments Holding, which also incorporates Dubai Media City and Knowledge Village all within close proximity to each other. The three are part of Dubai government’s initiatives to make it the global hub for knowledge and innovation.

The free zone is now home to over 1,600 companies, with some world- renowned IT manufacturing brands permanently making it their base and some others establishing their regional offices in the area. These include some of Fortune 500 companies, SMEs, startups and entrepreneurs.

Dubai Internet City has now become the center stage for the IT industry. Thanks to Dubai’s strategic location, the region is now accessible to all corners of the earth. DIC has a very promising, young and talented pool of professionals in the areas of technology and communications and continues to attract a multitude of talents from all over the world.

The Dubai Internet City Free Zone in the last few years has developed into one of the most favorite spots for international businesses looking for a sustainable and profitable spot for settlement in the emerging indigenous market. DIC has great facilities and world-class infrastructure, an investor-friendly environment, flexible legal structure and an affable ecosystem for global and regional companies and entrepreneurs.

TYPES OF LEGAL ENTITIES FOR COMPANY SETUP IN DUBAI INTERNET CITY

The following entities can be legally registered in DIC:

1. Free Zone Limited Liability Company (FZ-LLC)

A limited liability company in a free zone can be owned by 1 to 50 individuals or corporate shareholders with a minimum share value of AED 1,000 and a minimum share capital investment of AED 50,000.

2. Branch of a UAE Company

This refers to a branch by an applicant who is a UAE resident. It doesn’t have any capitalization requirement.

3. Branch of a Foreign Company

A branch of a foreign company in DIC can be formed by an applicant who is a foreign national, and such a company doesn’t have any capitalization requirement.

Business Licenses in Dubai Internet City

Here are the most common licenses in DIC Free Zone.

Commercial license.

It is suitable for businesses engaged in trading activities. It allows companies to do import and export activities within Dubai Internet City and the UAE.

Service license.

It is required for businesses providing services, such as IT and software support, consultancy and marketing.

Industrial license.

It is suitable for businesses engaged in light manufacturing or industrial activities. Under this license, companies in Dubai Internet City are allowed to establish manufacturing facilities and carry out industrial activities.

Freelance permit.

Dubai Internet City also offers a freelance permit for individual entrepreneurs providing them with an opportunity to work as freelancers.

PERMITTED BUSINESS ACTIVITIES IN DUBAI INTERNET CITY

-Software Development

-Telecommunications and Networking

-E-Commerce Services

-IT Solutions Provision

-Internet and Multimedia Services

BENEFITS OF BUSINESS SETUP IN DUBAI INTERNET CITY

-100% ownership

-100% exemption from customs duty

-Capital Repatriation

-Easy Licensing

-Cyber Regulations

-Protection of IP

-0% corporate or personal income tax

-No currency restrictions

-State-of-the-art offices

-Excellent retail services

-24- hour security

REQUIREMENTS FOR DUBAI INTERNET CITY COMPANY FORMATION

-Initial approval of intended activities from DIC Free Zone Authority

-Trade name approval

-Share Capital of AED 50,000 deposited into a corporate bank account

-Any additional documents requested by the registrar

RESIDENCE VISA OPTIONS

Setting up a company in the DIC Free Zone entitles foreign businessmen to obtain a UAE residency visa that can be renewed/prolonged as the company continues its operations. Here are a few options available.

Type of residence visa

Visa Cost (AED)

Dubai Internet City - 2 Year Visa - Outside UAE

3,276.00

Dubai Internet City - 1 Year Visa - Inside UAE

4,568.00

Dubai Internet City - 2 Year Visa - Inside UAE

5,019.00

 

FACTS YOU SHOULD KNOW ABOUT Dubai Internet City (DIC)

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COSTS OF BUSINESS SETUP

Dubai Internet City (DIC)
  •  
  • Business plan approval chargeAED 2,000 / USD 548
  • Registration feeAED 3,510 / USD 962
  • License feeAED 15,010 / USD 4,112
  • Workstation rentalAED 35,000 / USD 9,590
  • TOTALAED 55,520 / USD 15,210

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