The industrial revolution that took place in Great Britain between 18th-19th centuries gave birth to the chief industries that are present in today’s world.
The industrial revolution that took place in Great Britain between 18th-19th centuries gave birth to the chief industries that are present in today’s world. This brought major changes such as population shift, mass production of goods, scientific discoveries. New technologies boomed the economy that act as a pillar in shaping today’s modern industries.
Dubai, one of the most vibrant and multicultural cities of the world, is one of the seven emirates of United Arab Emirates (UAE). It is known as the business hub of Middle East. The city is situated on the southeast coast of Persian Gulf, and its beauty is a blend of natural and man-made. The city features Palm Jumeirah, world’s first man-made artificial island. The city contributes a considerable chunk towards the economic development of the UAE and is considered to be the second wealthiest emirate, after Abu Dhabi. According to the Arab Business Report, the GDP growth rate of Dubai is expected to increase by 3.8% in 2018 and 3.3% in 2019. Dubai free zones act as a magnet to attract investors from the world over.
Why Dubai Industrial City?
Dubai serves as one of the favorite tourist destinations. Being regarded as the central hub of business, Dubai has a strong hold on different world business. This gave birth to the Dubai Industrial City (DIC) in 2004. Located in Dubai, DIC is an industrial hub, covers an area of 7 million square feet, being the largest industrial park in Dubai, for warehousing. It lies close to Jebel Ali Port, Dubai Expo 2020 site, and Emirates Road. DIC is a member of TECOM (Technology, Electronic Commerce, and Media) Investments. Dubai industrial city is set up with an idea of expanding the industrial sector to a great extent, provide cost-efficient business centers to small and large industries. The project has been designed for cold, light, chemical and general storage. This hub also consists of amenities like commercial office spaces, retail showrooms etc. The manufacturing sectors comprise of different industries such as food and beverages, machinery, logistics, transport, minerals, etc.
Features of Dubai Industrial City
The park has been constructed keeping in mind the following features:
- Fire and safety
- Mechanical, electrical and plumbing (MEP)
- 24/7 security
- Medical facilities
- Prayer areas
- Locational accessibility
- Industrial land for lease
Companies in Dubai Industrial City
The Dubai Industrial City free zone comprises around 700 companies, 5000 workforce, and 320 factories in its arena. Manufacturing industries in Dubai Industrial Park have been divided into different sectors, that have in turn been divided into respective zones.
- Zone 1: Food and Beverages
- Zone 2: Transport Equipment and Parts
- Zone 3: Machinery and Equipment
- Zone 4: Mineral Products
- Zone 5: Healthcare
- Zone 6: Chemicals
Apart from these, the industrial park offers 3 million square feet of space for storage of construction materials, automobiles, and equipment.
Company Formation in Dubai Industrial City
Types of Companies
- Limited Liability Company (LLC)
- Joint Venture
A minimum share capital of AED 3,00,000 is to be shown in the Memorandum of Association (MOA).
The different license types available in Dubai Industrial City are:
- Trading license
- Service license
- Commercial license
- Industrial license
A trade license can be obtained within 5-6 working weeks.
Benefits of Setting Up a Business in Dubai Industrial City
A company carrying out its business activities in Dubai Industrial City can avail the following benefits:
- 100% ownership
- No tax burden
- Shareholder need not be a resident of Dubai
- Bank accounts can be opened in any currencies
- Tariff-free trade access to Gulf Cooperation Council (GCC) market
- Duty-free imports
- Fewer renewal taxes
- The freedom to hold Properties
In a nutshell, we can say that DIC provides all the necessary amenities that are essential for an industry. It facilitates industrial growth in different sectors. It’s a platform that shows a path to small and medium industries and builds a pathway for them. Are you ready to be an international industry leader? Business Setup Worldwide helps to build the business roots in foreign countries. We provide sustained services to our clients and help them build their business foundations. Our business experts help with the legal proceedings, rules and regulations required to set-up business in the foreign land. For further details regarding business setup in Dubai Industrial City, do contact us. We’d be glad to assist you in setting up your dream company.