In 2004, the authorities of Dubai decided to create Dubai Silicon Oasis Authority (DSOA). This FZ is fully state-owned, aimed at promoting modern industrial technologies. Entrepreneurs, who want to register a company in DSOA, as well as those already working in this FZ, discover a package of benefits for this economic zone. DSOA is a technology park offering modern platform.
DSOA is divided into 5 main zones: the manufacturing, a trading, an educational, a residential and public facilities. The attention of entrepreneurs, who want to establish a business in Dubai SOA must be attracted by a high-tech ecosystem to advance innovation. Park has medium and small enterprises, large organizations, an incubation center, educational institutions, hospitals and offices for buying and renting, as well as sports complexes. Also in the DSOA at a high level of development are infrastructure, venture capital funds, public services.
To start an entrepreneurship in Silicon Oasis is promising from the point of view of safety and a high level of highway development.
What legal forms are available to set up firms in Silicone Oasis FZ:
- A branch. It can be established by both a local company and a foreign company in the UAE. The activities of the branch should correspond to the activities of the parent company.
- A creation of a Free Zone (FZE) - these are legal entities with one shareholder (individual/legal entity).
- Free Zone Company (FZCO). This type of company implies the presence of two or more shareholders (individual/legal entity).
You can obtain licenses in Dubai SOA:
- A trading: intended for registered persons and applies to import/export of goods, according to the license.
- For services applies to those types of services, that are indicated in it, only for registered persons.
- A manufacturing: this type gives permission to a registered person to produce, process, import raw materials and export finished products.
To get special licenses at DSOA:
- The Business License helps start-up entrepreneurs to start a business in DSO Authority with support services.
- Business Permit: firms, who work in DSOA administrative area may receive special permission from the DED (Dubai Department of Economics).
- The possibility of 100% ownership of a foreign company;
- Tax benefits;
- No fees;
- Low cost;
- An inexpensive electricity;
- No import/export charges;
- Free hiring of expatriates;
- A lot of office premises for rent and purchase;
- No currency control.
Opening a business in Dubai Silicon Oasis is a fairly promising solution. However, given the features of the registration process, those planning to operate in the UAE may need expert assistance in setting up a company in Dubai Silicon Oasis.
More details, you can find out from YB Case employees by phone numbers indicated on the website or by filling out a special form.