Business Setup in Dubai Internet City (DIC)

 

Dubai Internet City (DIC) is a hub of IT in UAE. The DIC offers several incentives to companies including 100% foreign ownership along with taxation and also other benefits.

Some of the benefits of company setup in DIC are following below.

• Flexible office solutions
• 100% foreign ownership
• Full repatriation of capital and profits
• Excellent infrastructure and also support services
• No currency restrictions

Dubai Internet City (DIC) Business Sectors

 

Following is the main sectors that qualify a company to be part of DIC.

1. Regional Headquarters
2. Web-based
3. Software Development
4. Information Technology
5. Consultancy
6. Business Services

Legal entity

• The Branch of a foreign or UAE based company.
• New Incorporation of a Free Zone Limited Liability Company (FZ-LLC) with corporate shareholders or individual shareholders.

Business Activities available in DIC

Following is the business activities available in DIC

• Software
• E-commerce
• The Internet and Multimedia
• Telecommunication and Network
• IT Service

Following are the required documents for business setup in Dubai Internet City (DIC)

For a branch of the Foreign Companies

• Certificate of Registration of the Parent Company (notarized and attested)
• Certificate of Good Standing of the parent Company
• Memorandum of Association and also Articles of Association of the Parent Company (notarized and attested).
• Board Resolution (notarized and attested)
• Valid Passport copy of Manager and also the Specimen Signature for the Manager
• NOC from the current sponsor in the UAE of the Manager (if applicable)

For a branch of the UAE Companies

• Copy of valid Trade License.
• Copy of the Commercial Registration.
• Memorandum of Association and also Articles of Association of the Parent Company (notarized and attested).
• Board Resolution (notarized and attested)
• Valid Passport copy of Manager
• NOC from the current sponsor in the UAE of the Manager (if applicable)
• Specimen Signature for the Manager

Following are the step by step Procedures to setup company in DIC

Step 1: Submit the completed application for License form along with Required documents.

Step 2: 

Once all the required documents are received, DIC begins an internal evaluation process. After approval of the application, a Provisional Approval letter is sent to the applicant.

Step 3: 

You have to sign and stamp the Provisional Approval Letter and also submit it to DIC.

Step 4:

Then you have to submit the Legal Documents.

Step 5: Customer Confirmation Letter

Then the Customer Confirmation Letter (CCL) is forwarded to the applicant after submission of all legal documents requested by DIC.

The Customer Confirmation Letter (CCL) includes Company details, Details of allocated office, Payment details, Payment due date and also the Approved activity.

Step 6:

The applicant should sign and stamp the Customer Confirmation Letter (CCL) and also return this to DIC.

Step 7:

Lease Agreement and also the Personnel Sponsorship Agreement (PSA)

Step 8:

The Business Partner receives the Trade license after signing the Lease Agreement and also the PSA.

If you are the owner of an ICT company and want to setup a company in the UAE then the best place to setup your business is the Dubai Internet City. For further information contact us: +971589827842 or Email us: info@mszconsultancy.com