25

Jun

COMPANY REGISTRATION IN DUBAI INTERNET CITY

By PBSolutions
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Dubai Internet City first opened its doors in 2000 and is located on Sheikh Zayed Road south of Downtown Dubai city. Dubai Internet City (DIC) is created by the government of Dubai as a free zone to be an information technology park and a vital strategic base for organizations focusing on emerging markets in the region. It has now developed into the biggest Information and Communication Technology (ICT) Business Park in North Africa and the Middle East, the). DIC not only fosters Fortune 500 companies but also empowers SME’s and brings in leaders of global ICT to Dubai. There are currently more than 1,700 businesses in DIC in all sizes.

Dubai Internet City hosts global and regional companies and offers them with a community that pulls in all the component of the ICT value chain and supports the development and growth of IT and Telecoms as well as providing them with all the benefits that come with incorporating a business in a Free zone. Some of the benefits of DIC are 100% foreign ownership; very minimal taxation and customs streamlining

Business Formation in Dubai Internet City

There are two types of licenses for commercial operations
1. Free Zone Limited Liability Company (FZ-LLC)
2. Branch of a foreign company

Business activities allowed in Dubai Internet City include:

• Adapt, develop and install software products (could be the company’s own products or a third party)
• Creating and spreading multimedia and internet content
• Offer applications that enable a more effective form of networking, better online platforms and interaction between companies or individuals
Operating, developing, installing, modifying network-based applications and services
• IT based services like Security solutions, Localization, training, manufacturing, direct trading of physical products cannot be provided in the UAE market

Required Documents:

The documents needed for setting up a Free Zone Limited Liability Company (FZ-LLC) in Dubai Internet City for an Individual applicant are:

• The applicant’s passport copy
• Their C.V or resume
• Evidence of the business’s physical address (certified lease agreement)
• Proof of 3 proposed trade names to be submitted for approval
• A form to be filled by the applicant, shareholders or managers regrading personal information
• There should be a notarized Power of Attorney appointing the agent if a local representative is used
• The registrar may ask for some additional documents
• Capital Investment for Dubai Internet City is AED 50,000 (US$ 13,698)

For a shareholder based corporate applicant, the documents required are:

• A notarized certificate of registration for the existing company
• Documents of the existing business’ physical address
• A notarized Memorandum of Association or Articles of Association for the existing company
• Physical address of the new company (lease agreement of the approved offices
• The elected manager’s passport and C.V copy
• Shareholders passport copy
• Personal information form from any shareholder or manager
• Proof of trade name
• Any other documents needed by the register
• A board resolution from the existing company board of directors expressing intent to establish the new set up abroad. This must be notarized by the UAE Embassy in the origin country.
• Capital investment is AED 50,000 (US$ 13,698)

Requirements for a branch of a foreign company

Documents needed are really similar to a shareholder based corporate. The additional documents required are:

• The parent company’s certificate of registration (needs to be notarized by the UAE Embassy in the origin country)
• A certificate of good standing that will is issued by the registrar of companies in the origin country and approved by the UAE Embassy
• Documents that describe the company’s profile
• The parent company’s physical address
• DIC has no minimum investment requirement for Branch Offices of foreign companies

Requirements for establishing a branch of a local company in DIC

The requirements depend on whether or not the applicant is an individual or a corporate entity.
For corporate entity, the requirements are (in addition to the shareholder based requirements mentioned above):

• Notarized Memorandum of Association for the parent company
• Notarized Articles of Association for the parent company
• Trade license of the main company or certificate of registration

certificate for Chamber of Commerce

• No minimum investment needed for Branch Offices of local companies

For individual applicants the requirements are:

• Personal information of the application
• V and passport copies
• Trade name proof
• Parent business’ physical address
• Lease agreement that helps establish physical address of the branch of the local company
evidence of the initial approval for the activities for starting the new branch
• Notarized Memorandum of Association and/or Articles of Association for the existing main branch
• Certificate of incorporation or license of the existing company
• Certificate of the existing company’s registration
• No minimum investment requirement for Branch Offices of local companies

How we can help?

Peninsula Business Solutions (PBS) can help facilitate the business formation process for not only in Dubai Internet City, but in all the UAE Free Zones. The requirements necessary to incorporate a business in a Free Zone can be very intimidating which is why PBS will make sure that all the documents are completed and processed properly to ensure that clients are able to effectively set up their business in Dubai Internet City.

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