IT company formation in UAE
Are you a foreign investor or an entrepreneur who is keen on starting a business in information technology in UAE?
Then, Dubai being home to many free zones which accommodate the requirements of an IT company, make it an ideal destination for an IT venture, nonetheless, you have to abide by the rules and regulations laid out by the country.
Appropriate free zones to set up a company in the information technology sector in Dubai; are Dubai internet city, Dubai Knowledge Village, and Dubai Outsource Zone.
Types of license: Commercial license and also Professional license
The development of Dubai free zones allows the formation of IT companies in dedicated free trade zones in the emirate, such as Dubai Media City, Dubai Internet City or Dubai silicon oasis which is considered the UAE’s “Silicon Valley”.
Similarly, the formation of onshore IT companies i.e., mainland companies with a professional license can be registered with the department of economic development Dubai, there are two types of licenses under mainland.
1. Professional – which is a software house
2. Commercial – Trading IT Equipment’s – Free zone IT companies
In order to obtain this type of license, you must register with the Dubai Technology and Media Free Zone Authority (TECOM), DMCC, and also Dubai world center
Required Documents include:
Required documents that have to be submitted to the Department of Economic Development (DED); to obtain the license
1. Passport copies of the applicant
2. Local service agent /local partner’s passport copy
3. Emirates ID copy of local service agent
4. Unfiled identity number of partners – immigration form
5. Manager of the company must have bachelor’s degree in IT and 3 years of experience in the same field (In case of a professional license)
6. Tenancy contract
7. Copy of the local partner naturalization book
8. If holding a resident visa then no objection letter from the current sponsor
9. Signed Partnership agreement in front of a notary