If you're considering establishing your company in Dubai Industrial City (DIC), you're tapping into a vibrant ecosystem strategically aligned with global markets. DIC, officially established in 2015 but conceptualized in 2004, spans a massive 52,025,703 square meters, accommodating over 200 thriving enterprises. This dynamic industrial hub boasts specialized zones, including a robust food and beverage hub, a non-precious metals and transportation sector, state-of-the-art warehouses, expansive conservation areas, advanced logistics, and educational facilities.
Advantages of choosing DIC in 2023
Opting for DIC as your company's cornerstone in 2023 offers a multitude of advantages, including:
- Full foreign ownership: Enjoy complete ownership of your venture.
- Repatriation of capital and profits: Seamlessly manage your financial flow.
- Taxation benefits: Thrive in a tax-efficient environment with no personal or corporate income taxes.
- Duty txemptions: Benefit from duty exemptions on machinery, equipment, and raw materials.
- Strategic market access: Leverage Dubai's strategic location for duty-free access to GCC and MENA markets, contributing to substantial local value addition.
- Ample expansion opportunities: Grow your business within DIC's fertile environment for innovation and expansion.
- Cutting-edge IT infrastructure: Utilize DIC's world-class IP telephony network for technological advancement.
- Diverse business clusters: Network with major corporations, fostering business diversity and international opportunities.
- Flexible business regulations: Navigate a flexible regulatory landscape, minimizing administrative obstacles.
- Streamlined company establishment: Access vital amenities conveniently under one roof during the registering company in DIC.
- Skilled workforce: Benefit from a skilled and multilingual workforce, enhancing operational efficiency.
Initiating a company in DIC and license selection
Entrepreneurs can choose from four business licenses based on their operations:
- Trading license: Engage in buying, selling, and storage related to trade.
- Service license: Offer services such as accounting, auditing, consulting, and management.
- Commercial license: Participate in various commercial activities.
- Industrial license: Drive manufacturing operations.
Legal entity options
Choose from the following legal entity options:
- Free Zone Limited Liability Company (FZ LLC): Minimum capital requirement of 85,155 euros; founder can be an individual or legal entity.
- Branch: Operate as a subsidiary of the parent company with no minimum capital requirement.
Timeline for establishing a business in DIC
While the registration process timeline varies, here's a general overview:
- Application and document submission: Provide application, business plan, and documentation (a few weeks).
- Document review and approval: Authorities review documents and plans (2-4 weeks).
- Confirmation and payment: Execute confirmation letter, make payments (2-4 weeks).
- Preparation of legal documents: Prepare Articles of Association, Memorandum of Association, etc. (2-4 weeks).
- Bank account and capital deposit: Open corporate bank account in DIC, deposit share capital (1-3 weeks).
- Finalization of registration: Authorities finalize registration and issue business license (2-4 weeks).
- Lease agreement and office setup: Finalize lease, set up office space (2-4 weeks).
- Receiving business license and commencement: Receive business license, begin operations.
Dubai Industrial City stands out with its unique mixed-use concept, diverse business activities, and strategic location. When navigating company registration, enlist the expertise of seasoned specialists like YB Case for a smooth process. Embrace the opportunity to pioneer your enterprise within DIC's thriving ecosystem.