Dubai Internet City Business Setup | Dubai Internet City Free Zone

Dubai Internet City DIC

Home > Dubai Internet City DIC

DIC

Dubai Internet City DIC

Dubai Internet City free zone is a technology business park in Dubai, United Arab Emirates, established to foster the growth of information and communication technology (ICT) companies. DIC offers numerous benefits to companies operating within its boundaries. It is situated in the city’s Jebel Ali area, near Dubai Marina and the Palm Jumeirah. The strategic location makes it easily accessible from various parts of Dubai and the wider UAE.

DIC primarily caters to businesses in the information and communication technology (ICT) sector. However there are various IT-related business activities that can be conducted in Dubai Internet City are diverse. They are as follows:

Software Development

DIC is home to numerous software development companies, ranging from startups to established software firms.

IT Services

Businesses that offer a wide range of IT services, including IT consulting, system integration, and managed IT services, can thrive in DIC.

Telecommunications

Telecommunications companies, including those involved in network infrastructure and service providers, find DIC an attractive location.

E-commerce

E-commerce companies and online retailers often choose DIC due to its favorable business environment and logistics infrastructure.

Digital Marketing

Digital marketing agencies, SEO firms, and online advertising companies can operate effectively in DIC.

Cybersecurity

Given the increasing importance of cybersecurity, DIC hosts various cybersecurity companies and startups.

Mobile App Development

Companies specializing in mobile app development and mobile solutions can set up shop in DIC.

Web Development and Design

Web development and design agencies are prevalent in DIC, serving clients both locally and internationally.

Data Centers

Data center operators and cloud service providers establish a presence in DIC to serve the region’s growing demand for data hosting and cloud services.

Tech Startups

DIC has a thriving ecosystem for technology startups, with support for incubators and accelerators to help new businesses get off the ground.

Consulting Services

Companies offering IT consulting, business consulting, and management consulting services operate in DIC.

Education and Training

Education and training institutions focused on technology and IT-related courses are present in the area.

Media and Entertainment

Some media and entertainment companies with a focus on digital content and technology are based in DIC.

The specific types of businesses that operate in DIC can vary widely, from large multinational corporations to small startups. DIC provides a business-friendly environment and infrastructure that supports technology companies’ growth and development.

Benefits of establishing in Business Setup in Dubai Internet City

Tax Advantages : DIC offers tax-free benefits, including no personal income or corporate taxes.
100% Foreign Ownership : Companies can have full foreign ownership in DIC.
State-of-the-Art Infrastructure : Access to top-notch facilities and technology infrastructure.
Business Ecosystem : A supportive environment with networking opportunities.
Visa Services : Convenient visa services for employees and their families.
Legal and Regulatory Support : A comprehensive legal framework for business operations.
Proximity to Markets : Access to Middle East, North Africa, and South Asia markets.
Quality of Life : High-quality living standards and amenities in Dubai.
Diverse Talent Pool : Access to a multicultural talent pool.

Process of Company Formation in Dubai Internet City

Company formation in Dubai Internet City (DIC) involves several steps. Here’s a general procedure for setting up a company in DIC:

Business Plan : Begin by developing a detailed business plan outlining your company’s activities, financial projections, and business goals.
Select your Business Activity : Determine the specific business activities your company will engage in and ensure they are permissible within DIC.
Legal Structure : Select the appropriate legal structure for your company, such as a Free Zone Limited Liability Company (FZ-LLC) or a branch of an existing company.
Trade Name Reservation : Choose a unique trade name for your company and have it approved by the DIC authorities.
License Application : Submit a license application to the Dubai Technology and Media Free Zone Authority (DTMFZA) along with the required documents. This typically includes the business plan, passport copies of shareholders and managers, and a no-objection certificate if applicable.
Office Space : Arrange for suitable office space within DIC. The size of the office space may depend on the number of employees and the type of business activity.
Memorandum of Association (MOA) : Draft and sign the Memorandum of Association and other relevant legal documents. These documents will define the structure and operation of the company.
Legal Formalities : Complete any additional legal formalities required by the DIC authorities, such as obtaining approvals, permits, and clearances.
License Issuance : Once all documents and payments are in order, the DIC authorities will issue the business license.
Bank Account : Open a corporate bank account in a local or international bank. The minimum capital requirement, if any, will depend on the type of license and business activity.
Visa Process : Apply for visas for the company’s employees, shareholders, and their dependents. The number of visas granted will depend on the office space leased.
Immigration and Labor Cards : Obtain immigration and labor cards for employees to legally work in Dubai.
Submit Required Documents : Submit the necessary documents, such as passport copies and photographs, to the relevant authorities for visa processing.
Annual Compliance : Ensure compliance with annual requirements, including license renewal, audits, and financial reporting.

It’s essential to note that specific requirements and procedures may vary depending on the type of business, the number of shareholders, and other factors. Working with a business consultant like us at Corpin Consultants can help navigate the process efficiently, as they can provide guidance on the exact requirements and assist with the paperwork. Additionally, the regulations and requirements may change, so it’s important to consult with the Dubai Internet City authorities for the most up-to-date information and guidance.

Documentation needed for business setup in Dubai internet city free zone

To set up a company in Dubai Internet City (DIC), you will need various documents and paperwork. Here’s a concise list of the documentation required:

Business Plan : A detailed blueprint of your company’s objectives and operations.
Trade Name Approval : Confirmation of your chosen business name’s uniqueness.
Passport Copies : Copies of passports of shareholders and managers.
No-Objection Certificate (NOC) : If applicable, a NOC from the sponsor or employer.
Memorandum of Association (MOA) : A legal document outlining the company’s structure and operations.
Office Space Agreement : Proof of leased office space within DIC.
Legal Approvals and Permits : Any necessary clearances or approvals for specific business activities.
License Application Forms : Properly filled and signed application forms.
Bank Reference Letter : A reference letter from a bank, confirming your financial stability.
Bank Account Details : Information about the corporate bank account opened for the company.
Visa Application Documents : Passport copies, photographs, and relevant forms for visa applications.
Immigration and Labor Cards : Documents related to employee immigration and labor cards.

It’s important to ensure that all documents are accurately prepared and submitted in compliance with DIC and UAE regulations to facilitate a smooth company formation process. Please note that requirements may change over time, so consulting with DIC authorities or a professional business setup service is advisable for the most up-to-date information and assistance.

In total, the entire process to set up a company in DIC can typically take around 6 to 12 weeks, but this timeline can vary. It’s important to keep in mind that specific factors, such as the completeness of documentation, government processing times, and any unforeseen delays, can influence the overall duration.

How Corpin Consultants can help entrepreneurs set up a business in Dubai Internet City (DIC)?

At Corpin Consultants, we possess extensive knowledge of the local business landscape in Dubai Internet City. We understand the ins and outs of DIC regulations and procedures, and we’re here to guide you every step of the way. We offer valuable insights into the most suitable legal structure for your business, whether it’s a Free Zone Limited Liability Company (FZ-LLC), branch, or representative office.

We assist you in preparing and organizing all necessary documentation to ensure it complies with DIC and UAE government requirements. Additionally, we work closely with you to choose a unique and suitable trade name for your business and navigate the trade name approval process.

At Corpin Consultants, we take charge of the licensing process, handling everything from the initial application to the issuance of your business license. Our team ensures all legal approvals and permits are secured promptly, reducing delays in your business setup.

Our team will guide you through the visa application process for both yourself and your employees. This includes obtaining entry permits, managing visa stamping, and facilitating labor card issuance, all of which are essential steps in the setup process.

We assist you in opening a corporate bank account, ensuring you meet the financial requirements for business setup. Our experts also make certain that your business remains compliant with all relevant legal and regulatory requirements.

Our goal is to expedite the setup process, potentially reducing the time needed for company formation in DIC. We also advise you on cost-effective strategies, helping you optimize your expenses during this critical phase.

We have established networks and contacts within DIC, which we gladly leverage to provide you with valuable connections for potential partnerships, suppliers, or customers. These local connections can be immensely beneficial for your business.

At Corpin Consultants, we are committed to ensuring a smooth and successful business setup experience for entrepreneurs in Dubai Internet City. Your business goals become our goals, and we work diligently to make your entrepreneurial journey in DIC a successful one.