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Dubai Internet City

Dubai Internet City

The Dubai Internet City is the specialized area, established at the initiative of the Government of the Emirate at the beginning of 1999. As the jurisdiction, the Dubai Internet City has the special economic status, and is included in the large-scale project on modernization and development of communication and information technologies in the Middle East. This FTZ is the part of the Tick free economic zone.

The Dubai Internet City Trade Zone is located southward of the central part of the modern megalopolis, which allows to use the urban transport infrastructure of Dubai. Territorially, the area borders with such famous Dubai districts as the Palm Jumeirah and Dubai Marina.

Today, the FTZ is being actively developed and is involving the significant investment capital in the economy of the Emirate. Every year thousands of international companies register in the jurisdiction of the Dubai Internet City. The area is of potential interest for the following economic sectors:

  • Multimedia and the Internet;
  • LAN and telecommunications;
  • Business consulting;
  • Maintenance of the computer equipment;
  • Marketing and sales;
  • Services in the field of information technologies;
  • Development and implementation of software;
  • Web design and website creation services;
  • E-Commerce and etc.

All large international and holding companies have their representative offices in the Dubai Internet City FTZ. Among the famous companies, which are presented in this economic area, there are such producers as IBM, Microsoft, Dell, Sony Ericsson, Canon, Siemens, and also hundreds of representative offices of small and medium-sized businesses which are engaged in the field of information business and technology can be singled out.

Types of international companies, registration and incorporation

To carry out business and commercial activity in the jurisdiction of the Dubai Internet City the registration and incorporation of the following types of international companies is allowed:

  • Free Zone Limited Liability Company: a company with limited liability of shareholders and founders;
  • Representative office of the functioning foreign companies;
  • Representative office of the functioning local company.

These legal forms of the registration of the legal entities include the following conditions:

  • The possibility of a 100% foreign ownership of the assets and charter capital of the registered company;
  • Long-term corporate tax holidays (up to 50 years);
  • The possibility of duty-free import and export of goods and services;
  • No government currency exchange regulation and restrictions on the distribution of financial assets, until the repatriation of all the capital and profits.

State entrepreneurial business licensing

Any business activity on the territory of the free trade economic area is allowed only after the obtaining the appropriate state license. The issuance and registration of business licenses carried out by the authorized governing bodies of the FTZ.

On the territory of the Dubai Internet city Free Zone the following state licenses are offered:

  • Business license for the provision of IT services;
  • License in the field of multimedia and the Internet;
  • Telecommunication business license;
  • The software;
  • License for the provision of services related to the management of real estate;
  • General business license (services, regional representative offices, consulting activity, tourism and hotel sector, and etc.).

The procedure of registration of an international company

While planning the registration of an international company in the jurisdiction of the free trade economic area, it should be considered that the legislation specifies the certain requirements for share capital of the registered legal entities. These requirements do not apply to representative offices of operating local and foreign companies. The registration, in the event of availability of the full set of the required documents, takes a couple of weeks.

The registration of a company in the Dubai Internet City involves the following stages:

  • Deposit of the share capital of the registered company in the bank account (minimum 50 thousand Dirhams);
  • Payment of the state license fee and obtaining the relevant business license;
  • Leasing of the office premises. When leasing 60 square meters of the office space - the residence visa is granted for six employees of the company and its director,;
  • Preparation of the business plan and other documentation to be provided with the application form.

It should be noted, that, taking into account the opportunities for business expansion and optimization of the taxation, all the costs for registration and the subsequent renewal of the business license are insignificant comparing with the gained benefits. You can always count on the friendly and welcoming staff, and comfortable environment.

Services for entrepreneurs and investors

Speaking about the functional opportunities of the Dubai Internet City Economic FTZ, first of all, it should be said about the internal infrastructure which meets the highest international standards and requirements. Here, all the advanced technologies and achievements of the globe were realized, what has made the economic area extremely attractive to foreign investors.

Special software products which are offered to clients allow to expand the business opportunities. Thus the entrepreneurs, using certain software, can work out an objective assessment of existing risks, examine the economic and technical evaluation of the projects and enlarge the base of business contacts. Even the companies with comparatively fewer financial resources have a full range of benefits and opportunities for development.

Conclusion

The strategic benefits and advantages of the Dubai Internet City Free Trade Zone are unquestionable. Today, the economic area has become the major international business center, and is the strategic base for companies which are aspiring to expand their influence, and to discover new markets. It is not a secret that the UAE offers the direct access to many world markets, which are of the heightened interest for trading. Among them there are markets of the African continent and also vast Asian markets and India.

If you are intend to enter the international market, and your activity is associated with information technologies, then the Dubai Internet city Free Trade Zone will be the most promising choice for your business. Contact our staff and get all the information you need.