Dubai International Academic City (DIAC) is a free trade zone for companies involved in the education sector.
Dubai International Academic City (DIAC) is a free trade zone for companies involved in the education sector. It is the world’s largest free zone which is dedicated to higher education. DIAC was established in 2007 with the aim of serving the region's various budding and expanding the academic community. Currently, it’s serving around 24,000 students from all around the globe by being home to several national and international colleges and has approximately 400 undergraduate and postgraduate programs. DIAC has been built near Al Ruwayyah along the Dubai-Al Ain Road and is located within Dubai Academic City, covering an area of 12 sq. km. Continuing to grow and expand as per the need of its robust and talented academic community is the foremost goal of DIAC.
Key Benefits of Setting up a Business in DIAC
- 100% tax exemption
- 100% foreign ownership
- Full repatriation of capital and profits
- Exemption from customs duty for goods and services
- Unique cluster environment
- State-of-the-art technology and community infrastructure
- Ideal academic and business-friendly environment
- Flexible solutions for business partners
- Simple and streamlined company registration
- One-stop shop for government services
- 24-hour visa service
- Quick immigration process
Business Entity Types in DIAC
- Free Zone Limited Liability Company (FZ-LLC)
- Branch of a Foreign Company
- Branch of a UAE Company
Minimum Capital Requirements
FZ-LLCs in DIAC are required to have a minimum paid-up capital of AED 50,000 whereas branch establishments within DIAC have no minimum capital requirement.
Privileges Offered by DIAC
DIAC offers a variety of amenities for prospective businessmen:
- Educational – These plots are meant for building educational institutions.
- Mixed-use – These plots are meant for building residential apartments or any mixed-use applications.
- Student Accommodation – These plots are for building accommodation and dormitory facilities for universities and colleges.
- Retail – These plots are meant for shopping centres, supermarkets, etc.
- Hotel – These plots are meant for building hotels.
2. Commercial Floor Space
- Hot desk – A hot desk is a shared office desk that can be used by one or more clients. Hot desk clients are eligible for one visa per freelancer.
- Executive desk – Executive desks are furnished with one desk and chair, a storage pedestal and cabinet with key. Executive desk clients are eligible for 2 visas per desk.
- Executive office – There are two types of executive offices. One offers a furnished office with one executive desk, chair, visitor chairs, storage cabinet, and pedestal. Whereas the other type offers full-fledged furnished office environment within the business centre.
- Fitted out commercial space - From open areas fitted with desks, chairs, and table, to projectors and audiovisual systems, fitted out commercial space is something that offers the upper end for a business environment.
- Retail – Retail spacing is provided for companies offering support services such as clinics, pharmacies, courier services, beauty salon, money exchange, restaurants etc.
- Kiosk – Kiosks are small retail outlets for the above-mentioned retail providers.
- ATM Machines – Cash machines to serve the DIAC community.
Activities Permitted in DIAC
- Higher Education
- Online University
- Educational Service
- Non-Academic Service
- Boarding School and General Activities
Procedure to Set Up a Business in DIAC
- Submission of business application form for approval
- Submission of legal documents for company registration
- Signing and returning of the customer confirmation letter
- Settlement of payments
- Signing the Memorandum and Articles of Association (MAA)
- Deposition of the share capital
- Signing the lease
- Agreement of personnel sponsorship
Documents Required to Set Up a Business in DIAC
- Company registration application
- Personal details of the shareholder
- Original Memorandum and Articles of Association
- Board resolution
- Passport copies of the shareholder, manager and director
- Specimen signature of the manager and director
- No-Objection Certificate (NOC) from the residency visa sponsor
- Proof of share capital
- Registration and license fee
DIAC is seeking to expand its realm by inviting academic institutions and organizations that are in line with the vision of fostering education and research. With years of experience and a strong commitment to developing the UAE’s education system, DIAC can be seen as your trusted partner in offering the very best in international education. So, if you are looking forward to setting up your business then you are on the right track, as our advisors at Business Setup Worldwide are here to help you with the drill. We commit to take care of all the formalities in your company formation process, and shall be more than happy to assist you and be a part of your success journey. For any queries on setting up a company in Dubai International Academic City (DIAC) free zone, do contact us – we’d be happy to help.