Business Setup in Dubai Internet City (DIC) Free Zone

1. Protection of assets and properties
2. Contemporary offices
3. 100% foreign ownership
4. Modern communication systems equipped with the latest technologies
5. Complete exemption from customs fees
6. Easy to get a license
7. Services for high-speed internet and digital voice are available at pocket-friendly prices
8. Capital mobility
9. Permission to conduct multiple activities under one license
10. Plenty of room for market development
11. Outstanding retail services
12. Cyber regulations
13. 50 years of no corporation or individual income tax
14. No limits on currencies
15. conference facilities, conference facilities, and business centers
16. 24/7 security
17. 100% repatriation of all capital and profits
18. Protection of IP
19. DIC caters to businesses of all sizes offering commercial office units and flexi-desk packages
20. A huge number of business activities

DIC Visa According to Office Space Types

Dubai internet city offers two different types of office space for your company to choose from.

Commercial Space

1. One visa is offered for every 80 square feet. The smallest possible office space that can avail is 700 square feet.
2. The price of commercial space is between AED 175 and AED 190 per square foot but varies depending on location.

Business Center

1. 2 visas are allowed for an exclusive desk
2. 2 visas are allowed for a shared desk
3. 3 visas are allowed for a 2-seater office
4. 4 visas are allowed for a 3-seater office
5. 5 visas are allowed for a 4-seater office

Types of Legal Entities Allowed in DIC Free Zone

Due to restrictions on conducting business outside the free zone, Dubai Internet City is cut off from the mainland UAE. However, companies have been given enough amenities to launch their venture in DIC. The following entities may legitimately register with DIC:

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

One to fifty corporate shareholders or individuals are allowed to own a limited liability company in a free zone with a minimum share capital investment of AED 50,000 and a minimum share price of AED 1,000.

2. Branch of a UAE Company

This is a reference to a branch by an individual who resides in the UAE. There is no requirement for capitalization.

3. Branch of a Foreign Company

An applicant who is a foreign national can establish a branch of a foreign company in the DIC. There is no capitalization requirement for such an entity.

Business Activities Permitted in Dubai Internet City

The Dubai Internet City Free Zone (DIC) is open to a variety of professional, commercial, and financial business activities. Some of the most opted choices are as follows:

Multimedia Development and Distribution

It covers business activities like providing an online platform or serving as a middleman between different businesses or people that include the production and distribution of multimedia content or services via the internet.

IT Services

Any business activity involving the creation and/or provision of standardized, repeatable IT-based services is referred to as an IT service. Additionally, training, security solutions, localization, and corporate learning are also included in this category.

E-commerce

It covers business activities related to offering certain services and goods for sale to third parties over electronic platforms including online portals, search engines, social media, websites, and so forth.

Internet and Network Services

Any business activity involving the creation and distribution of online or multimedia content falls under this department. Distributing goods or services online, offering an online platform, or serving as a middleman between various people or businesses are examples of additional business operations.

Telecommunication

This covers business activities associated with creating, setting up, adjusting, developing, and/or running networks, as well as offering related services designed for using network-based services or programs for one’s own benefit or that of others.

Software

This includes any work done on the development, installation, and modification of software designed for the businesses or any third party.

Required Documents to Set Up a Company in DIC

The documentation required for Dubai internet city company formation depends on the type of business setup you choose. However, in general, the following list of documents is required for submission:

1. Original bank reference letter – for all shareholders
2. Visit visa
3. Passport copies of the founders
4. Minimum 5 trade names
5. Business plan
6. MOA and Articles of Incorporation of company
7. Details of the legal representative
8. Company application form
9. No objection letter for the manager by the current sponsor (if a UAE employment visa-holder and a resident of UAE)
10. Letter of Intent
11. Individual share certificates for all shareholders
12. Copy of passports of managers, directors, and shareholders
13. Lease contract
14. A filled license application form

Process of Company Formation in Dubai Internet City

To form a company in Dubai Internet City free zone, follow the following steps:

Step 1. Application Form

Send the Free Zone Authority a business license application, copies of all shareholders’, managers’, and directors’ passports, and the planned business plan.

Step 2. Choose License and Business Activity

Then you need to choose the right license, type of company, and business activity.

Step 3. Get Initial Approval

After reviewing the application, the DIC Authority will send the applicant a provisional approval letter along with a list of the necessary legal documents. Accepting a letter of provisional approval, the applicant must then sign, stamp, and return it to DIC.

Step 4. Documentation

Within 15 working days of the Provisional Approval Letter’s acceptance, submit all legal documents. Remember that different legal documents are required depending on whether the applicant is an individual, a corporate entity, or a branch of a UAE or foreign company.

Step 5. Get Further Approval

The applicant must provide the DIC with a Customer Confirmation Letter that is signed and properly stamped.

Then, DIC will check the submitted legal documents, send a Customer Confirmation Letter to the applicant and verify if the required office space is available. The applicant must provide the DIC with a Customer Confirmation Letter that is properly stamped and signed.

Step 6. Pay the Fee

Once DIC gets the Customer Confirmation Letter, they will send out an invoice for the initial payment. It includes 34% rental amount of the total annual lease and the registration and license fee.

Step 7. Company Registration

At last, after receiving the initial payment, the DIC will issue an office space Lease Agreement and Personnel Sponsorship Agreement. Then the applicant will sign and stamp the Lease Agreement and Personnel Sponsorship Agreement and send it back to the DIC.

After getting the signed and stamped Lease Agreement and Personnel Sponsorship Agreement, DIC will provide a trade license allowing the applicant’s business to begin trade.

Rent an Office in Dubai Internet City

In5 Centres

Their services include

1. The rental of spaces and equipment to help startups, entrepreneurs, and shortlisted students succeed
2. A business incubation program
3. An annual membership

Commercial Spaces

These are

1. Event spaces
2. Innovation centers
3. Retail stores
4. Prototyping facilities, among others.

D/Quarters

They tend to create a collaborative environment by offering a co-working place. You have a few options, including

1. Office
2. Desk
3. Open quarters

Types of Business Activities Allowed in DIC Free Zone

Dubai Internet City authorities allow various activities that are mainly IT-related, including the following:

1. Software modifications, development, and installation
2. IT services
3. Multimedia distribution and development
4. E-Commerce
5. Consultancy
6. Media Association (Non-Profit) and others
7. Advertising & communication
8. Media and marketing services
9. Event management

Dubai Internet City Licenses

All types of businesses can be established with the approval of the DIC, but the most common licenses are given to business owners of the following businesses:

1. Internet and multimedia
2. Software
3. E-Commerce
4. Telecommunications and Networking
5. IT Service

Some of the free zone license types you can select from are as follows:

Industrial Licence

1. A Dubai Internet City industrial license is required for businesses that produce goods in the region. Several warehouses are available here as well, allowing you to store your products after production in a secure location.
2. You must choose the Dubai Internet City neighborhood where your business will be located after choosing the suitable business license in the Dubai Internet City free zone.

Trading Licence or Commercial Licence

1. You are permitted to import and export items with a trading or commercial license. Companies with commercial licenses are permitted to import, export, keep, and store items locally in the DIC. For a company that wishes to practice retail operations, this is the ideal license.

E-Commerce License

1. An E-commerce license is required for businesses that do online or offline e-commerce business.

Service Licence or Professional Licence

1. A Dubai Internet City professional license is required if you intend to launch a firm that offers services to Dubai Internet City companies but is not engaged in the import or export of products. IT companies, consulting companies, marketing or advertising agencies, and other companies are examples of approved business activities under this license.

Facilities Available in Dubai Internet City Free Zone

The business setup at DIC offers a wide variety of commercial facilities, services, and other amenities to fulfill the various needs of the modern commercial sector.

Some of the top-notch facilities to avail in the DIC are:

1. One of the busiest metro stations in the entire United Arab Emirates is the Dubai Internet City Station. People who work at DIC can commute more easily using this facility.
2. Good schools are present around the area
3. in5 Tech is a business incubator
4. Innovation centers
5. Luxury hotels
6. Venues for events
7. Fitness facilities
8. Retail and dining
9. Top-quality healthcare facilities

Both residential apartments and hotel apartments are available for rent on the real estate market in Dubai Internet City. At DIC, there are numerous sizes and floor plans to pick from, and every flat has numerous bedrooms. Sizes vary from studios to three bedrooms.

Transportation

The Dubai Metro passes through Dubai Internet City, making commuting simple. It is simple to go here and there in the area because the Dubai Marina tram travels from Jumeirah Beach Residence to Dubai Marina. Taxis can be used at any time of day or night, and it only takes 25 minutes to go to Dubai International Airport.

Dubai Internet City Zones

The Dubai Internet City is divided into three primary zones. They are each perfect for a particular kind of business.

Technology Park

Businesses engaged in the media, telecommunications, and technology sectors should settle down here as it is best suited for them.

Marketing Square

Businesses that provide marketing, advertising, and PR services can be found at Marketing Square.

Creative Cluster

It is the best place for doing business related to the entertainment industry, design, and content creation.

Successful Businesses in Dubai Internet City Free Zone

Many prosperous companies have chosen to form their companies in Dubai Internet City. Your business will have access to a variety of information and resources because it is home to businesses from all over the world. Several well-known companies doing business in Dubai Internet City are as follows:

1. Siemens Dubai Office
2. Facebook Dubai Office
3. Microsoft Dubai Office
4. Google Dubai Office
5. Oracle Dubai Office