Dubai Knowledge Village (DKV), now renamed as Dubai Knowledge Park, is a free zone established in 2003 for the purpose of human resource management, learning and education. Over 400 companies and institutions, including universities, skill training providers, occupational assessment and testing providers, business centres and HR consultancies, are present in DKV. It has facilities for running learning organizations and corporate training in it. The aim behind DKV is to nurture the talent pool in the place and render the UAE a knowledge-based economy.
The world’s one and only free zone wholly dedicated for Human Resource Management and Education Excellence, Dubai Knowledge Village (DKV) was established in the year 2003. It is a venture of TECOM Investments that aims to provide professional development, human resource, and learning excellence. DKV strives to develop the region’s talent pool and establish UAE as a knowledge-based economy. DKV free zone is located within the Dubai Technology and Media Free Zone in the southern part of the city spread over 12 million sq. metres. DKV has over 300 partners all over the world. They have actively set up institutes, HR firms and training centres globally. In addition, DKV provides state-of-the-art amenities for use by its students and knowledge partners – like scenic landscapes, sports facilities, eateries and gymnasiums.
Dubai Knowledge Village is an ideal place for setting up a business in Dubai Free Zones as it gives prominence to the vision of Expo 2020. DKV is labelled as the centre for international institutes, training programs, foreign universities and HR consultancies. Currently, DKV is nurturing more than 450 companies, including Institute of Management Technology (IMT), Heriot-Watt University, MAHE, Innovative HR Solutions, etc. With such quality training institutes, DKV is helping to meet the needs of business by providing the required training and skills development program.
Benefits of Setting Up a Business in Dubai Knowledge Village
Dubai Knowledge Village offers the following benefits to businesses:
- Provision of 100% ownership of business
- No restriction on the repatriation of capital or profits
- Exemption from personal and corporate tax
- No customs duty for goods and services
- State-of-the-art infrastructure and support services
- Hassle-free visa services
- Easy and understandable legal procedures
- Surrounded by well-known national and international brands
- Supportive operational process
- Offers first-rate infrastructure and facilities for clients
- Access to highly skilled HR professionals
- Effortless registration, licensing and government services
Types of Business Entities in DKV
Dubai Knowledge Village free zone allows a business person to choose from among the following entities to start their business:
1. Free Zone Limited Liability Company (FZ-LLC)
FZ-LLC is a separate legal entity started with its own shareholders, minimum capital requirement depends on the type of business activity.
2. Branch Office
An existing company can set up their branch office which is legally dependent on the parent company.
Freelancing is providing products or services in your own name.
Licenses Available in Dubai Knowledge Village Free Zone
- Commercial License
- Freelance Permit
Activities Allowed in Dubai Knowledge Village Free Zone
- Professional and management developmental training
- Human resource consultancy
- Content development
- Assessment and testing
- Computer training
- Knowledge training
- Freelancers and association
- Child skills development training
- Occupational and technical training
- Fine arts training
- Tutoring services
- Language training
- Research & development
How to Set Up a Business in DKV Free Zone?
Dubai Technology and Media Free Zone Authority will permit you to start your business only once you get the license. To get your license, there are a few documents to be submitted and certain procedures to be followed. The procedure to get the license and register is as below.
Procedure to Set Up a Business in Dubai Knowledge Village
- Application for initial approval
- Submission of legal documents for company registration
- Customer confirmation letter has to be signed and returned by paying some fees
- Signing the Memorandum and Articles of Association (MAA)
- Depositing the required share capital
- Signing the personal sponsorship and lease agreement
Documents Required to Set Up a Business in Dubai Knowledge Village
- Application for company registration
- Original company incorporation certificate
- Details of shareholder(s)
- Proof of share capital from the bank or trust
- No Objection Certificate (NOC) for managers from UAE sponsor
- Copy of passport and specimen signature of shareholder and manager
- Certificate of Authorization for GSO
- Board resolution for company formation
- Memorandum and Articles of Association of parent company (in case of a branch office)
Setting up a business in Dubai envisages huge earning potential, tax exemptions, world-class infrastructure, modern amenities, liberal government policies and free trade barriers. Business Setup Worldwide is a business consulting firm that provides expert guidance on starting a new venture in any part of the world. We help our clients discover new business opportunities, understand legal procedures, network with local authorities, and identify the right type of free zone to suit the business plan. As different options are available for company formation, it is crucial to have the right kind of business knowledge in the business environment of Dubai.
The DKV free zone is friendly to investors than many other free zones around the world. It is filled with attractive incentives that encourage investors from all over the world to invest in these free zones. When the registration process has become flexible and easy, you too should make it a point to open one while these attractive offers stand, you never know what awaits you on the market front. The good thing is that the process of setting up business in Dubai is not only friendly but they're also some high expertise business consultancy that are willing to walk with you every step of the way. Contact us – we’d be happy to assist!