Dubai Internet City Company main characteristics:
Dubai Technology & Media Free Zone
No names are disclosed
Every company shall keep accounting records, which are sufficient to show and explain its transactions
No corporate taxes
Dubai Technology & Media Free Zone Authority
UAE dirhams pegged to USD
12 working days
Efficient means of communication
Residence visas are issued
Minumum one director
New Incorporation of a Free Zone Limited Liability Company (FZ-LLC)
A FZ-LLC is formed as a separate legal entity with shareholders as individuals and/or entities. Each FZ-LLC is required to have at least one director. There is a minimum paid up capital requirement of AED 50,000.
Branch of an Existing Foreign/UAE Company
A branch of a foreign or a UAE company is not a legal entity separate from its parent, but is considered a place of business that forms a legally dependent part of the parent company and conducts all or some of the operations inherent in the parent’s business. No share capital is required.
Businesses from the following sectors may apply to become part of the Dubai Internet City business community:
- Software – This allows the holder to develop, install and/or modify existing software products of their own or of a third party. It also allows for development of new software products.
- Internet and Multimedia – This allows the holder of the license to develop and/or distribute Internet or multimedia content. Additional activities can include the distribution of goods and services via the Internet, such as by providing an online platform and acting as conduit between multiple companies or multiple individuals.
- Telecommunication and Network – This covers activities related to developing, installing, modifying, and/or operating networks or providing relevant services designed for operating network-based applications or services. This does not cover the physical trading or assembling of any Telecoms related equipment.
- IT Service – Activities related to developing and providing IT-related services, these may include security solutions, training and corporate training/learning.
Sectors that can apply for DIC licenses:
- Insurance Service Provider
- Courier Services
- Travel Agency
- Legal Consultants/General Consultancy
- Auditing of Accounts
- Marketing Office/Call Centre
- Representative Office/Regional office
- Administration Office/Headquarters
- Commercial Developer
- Property Management Firm