Dubai Science Park plays a crucial role in Dubai’s Vision 2021 by enabling a sustainable and self-sufficient future by utilizing maximum indigenous resources and empowering local talent.
Dubai Science Park is a free zone that serves the science domain's complete value chain. DSP has been expressly created to satisfy the needs of professionals and businesses functioning in the field of life sciences. In addition, it supports scientific entrepreneurs, small and medium-sized enterprises (SMEs), and international enterprises.
It enhances a setting that supports innovation, modernization, and scientific research. The area offers people a wealth of office and laboratory space, a solid infrastructure, and a vibrant community. Moreover, DSP provides a supportive environment for businesses to flourish and create lasting impact.
Why Should You Set Up Business in Dubai Science Park?
Dubai Science Park is a component of Dubai's futuristic vision plan to lead the world in scientific research and development and achieve self-sufficiency. The cutting-edge resources will significantly assist the businesses in Dubai Science Park in advancing R&D operations quickly. In addition, DSP offers a chance to investigate regional MENA markets with millions of potential customers. Therefore, starting a company at Dubai Science Park is the best course for organizations seeking to reach the next level of development and expansion.
Benefits of Starting Dubai Science Park Companies
For residents, Dubai Science Park offers a range of advantages and incentives that help them launch, foster, and expand their enterprises. These advantages consist of:
- 100% foreign ownership
- Exempted from personal tax
- World-class infrastructure
- Leasing options
- Exempted from custom duties
To establish businesses here and ultimately smooth operations in the community, Dubai Science Park assists organizations with various issues, including licensing and registration, visa, traffic, and postal services, as well as office management and maintenance.
Permitted Business Activities in DSP Free Zone
Some of the allowed business activities in DSP are
- Research and Development
- Support Services
- Import and export
- Warehousing and logistics
Types of entities in Dubai Science Park
The various legal entities in Dubai Science Park are,
- Free zone limited liability company
- Branch of a foreign company
- Branch of a UAE company
Procedure for Dubai Science Park Company Setup Process
In Dubai Science Park, establishing a firm is simple, and the paperwork is low. First, however, the organization will need to choose an appropriate office space and submit an application for a business license to start opening a business in DSP.
Identify the Legal Form of the Company
The first step for company formation in Dubai Science Park is to select a business structure. Then, depending upon the type of entity you choose, you can do your business elegantly.
Select a Business Activity
The next step is to select the relevant business activity. Before choosing the activity, conduct thorough market research and select the right one based on your choice and interest.
Apply for Name and Initial Approval
The third step is applying for a trading name and getting the government's initial approvals. Then, you must submit the respective documents to the authority to get the relevant approval. After the submission of the documents, wait for the next steps.
Obtain a Business License
Once you are done with your approvals and documents, proceed with the business license. It is mandatory one necessary for whatever business you do. To get your business license hassle-free, get assistance from our business experts.
Open a Bank Account
The final step in starting your business journey is to open a bank account. Opening a bank account can be crucial without any help from business experts. However, you can consult an expert to finish your work on time. Moreover, in-depth knowledge about corporate bank account opening in Dubai will help you analyze the rules and regulations.
Documents Required for DSP Company Registration
The documents required for business setup in DSP depend on whether a shareholder is an individual or corporate entity. Basic requirements for company setup are as follows.
- Colour passport copy
- Colour UAE residence visa and emirate id
- Utility bill
- Business Plan
- NOC from the current sponsor
I hope the points mentioned above have satisfied your soul. If you feel like starting a business in Dubai, then know about the company formation in Dubai. Moreover, starting a business in Dubai would be easy if you consulted a business expert.
Why Choose Us
Business Setup Worldwide is the fastest-growing consulting company that would help you with all business-related inquiries. If you want to shine in your business or broaden it, then contact us right away. We would be pleased to assist you.
Who issues a license in Dubai Science Park Free zone?
The respective free zone authority in Dubai Science Park Free Zone issued the license.
What types of licenses are used in the Dubai Science Park Free zone?
The types of licenses used in the Dubai Science Park free zone are,
- Commercial license
- Industrial license
- Professional license
When was Dubai science park established?
Dubai science park was established in 2005.
How many companies were there in Dubai Science Park?
There were more than 350 companies in Dubai Science Park's free zone.