Dubai Internet City Free zone (DIC) Company Formation

Business setup in DIC Free zone

The Dubai Internet City Free Zone (DIC) is a leading technology hub in the UAE and information and communications center in the North African and Middle East region. Thanks to its innovative facilities and its outstanding development with its tech ecosystem, businesses that belong to the technology and IT sectors can find in this place a strategic location to conduct business.

Foreign investors consider the Company Formation in Dubai Internet City Free zone (DIC) with the aim to take advantage of its state-of-the-art infrastructure and great business community.

Forming a company in DIC

Incorporating a company in the Dubai internet city Free Zone can be a wise decision for business owners and startups that want to obtain the many benefits of innovative and leading place in the technology sector.

The incorporation process is pretty simple and businesses can establish their solid presence in DIC in no time. First, it’s necessary to select the preferred business activity, the trade name and the legal structure for the company. Then, it’s important to gather the documentation and obtain the approval. The final step is to pay the fees for registration and licensing and collect the business license.

The documents that you need to incorporate a business in DIC are the following:

• Application form for company registration
• Passport copy for each shareholder
• AOA and MOA
• Bank introduction letter
• Business plan
• Lease contract

DIC Business Activities

To carry out the Business Setup in Dubai Internet City Free zone (DIC) you must select one of the permitted business activities. Startups and large corporations in the tech sector that want to start their operations in DIC must work in the IT-related sector, and the activities allowed are the following:

• E commerce license
• IT services and consultancy
• Software development
• Installation and modification of software products
• Network and telecommunication activities
• Distribution and development of multimedia content
• Provision of network applications
• IT training services

In addition, DIC also allows the following activities:

• Consultancy: accountants, lawyers, etc.
• General service providers in areas such as travel, insurance and more
• Property management
• Hotels and leisure

Business Licenses for DIC

The Dubai Internet City Free zone (DIC) Company Setup involves getting the business license that suits the activities that the company is going to perform in this place. IN this regard, the DIC Authority offers the following types of business licenses:

• Software License: businesses that want to develop, install or modify software products and any other related activity should get the Software License.
• Telecommunications and Networking License: this license is aimed for companies that carry out activities such as development, installation, operation and other related task related to network-based services or applications
• E-commerce License: the E-commerce License is aimed for businesses that want to carry out commercial activities online.
• IT Service License: businesses that offer professional service in the IT sector should obtain the IT Service License.
• Internet and Multimedia License: this license is aimed for companies that carry out activities such as distribution of goods using internet, provide network application, and develop internet or multimedia content and other related activity.

Benefits of doing business in DIC

• Foreign investors can have 100% ownership of their business
• There’s no corporate, personal and income taxes
• 100% repatriation of capital and profits
• Access to outstanding services such as high-speed data and digital voice
• Innovative and modern infrastructure and access to excellent technologies
• Access to countless amenities and business facilities
• Business in technology sector can thrive and develop their operations in this tech hub
• Access to a highly lucrative market
• Strategic location at the center of Dubai

Business entities in DIC

Investors have to select the business activity and business license for their company, and in addition, they should also choose among the several legal structures available for their companies.

Start your Business in Dubai Internet City Free zone (DIC) by selecting one of the following business entities:

• Free Zone Limited Liability Company (FZ-LLC): an FZ-LLC can be formed with shareholders that are either individuals or corporations. It should have at least one director and the minimum capital is of AED 50,000
• Branch company: a foreign or UAE company can establish a branch in DIC as long as it complies with the regulations, which is to conduct the business activity that the parent company carries out. There’s not a minimum capital requirement.

DIC License costs

Businesses that want to operate legally in DIC should pay the fees for the Dubai internet city license cost and registration so the Authority can issue the proper business license.

• Company set up cost: starts from AED 3,520 and it’s a one-time fee.
• License fee: starts from AED 15,000. The license is valid for one year and then you have to pay the renewal.
• Rental agreement: renting an office in DIC ranges from AED 25,000 to AED 120,000 depending on which kind of physical office you want for your business.

Obtaining your business license in DIC may take less than seven days, and once you’ve collected your license you can start your operations.

DIC Innovative Facilities

DIC offers several options regarding facilities and physical spaces where business can carry out their operations smoothly and comfortably. Thanks to its innovative and modern facilities, any business can boost its operations in DIC.

Some of the most notable facilities in DIC are the following:

• Offices: modern and fully furnished offices, as well as shared office spaces, so investors can choose the best option for them.
• Plots of land: investors can lease or purchase a plot of land that already has its provisions so they can build commercial offices, hotels or any other.
• First Steps Business Center: this place provides fully furnished office spaces with a great location and flexible leasing options. In the First Step Business Center you can find Executive Offices and Executive Desks (Hot Desks)
• Conference rooms: with its modern conference facilities, investors and business owners can hosts meetings, provide training, and carry out seminars thanks to its presentation equipment available.
• Others: in DIC you can find restaurants, shops, hotels, gyms, and more.