Technology has impacted the human lives to a great extent.
Dubai Techno Park is a well-known technology hub in the region that provides facilities to multinational companies and information technology professionals. The main focus of this IT hub is to turn Dubai into a regional hub for the information and communications technology sectors by positioning it as a center for the growth of knowledge and the digital economy.
If you want to start any IT business in Dubai, Choosing the best location is of utmost importance. You need to make some business expenses like yearly rental fees and maintenance costs to ensure the smooth functioning of your company.
How is Dubai Technopark's Free Zone Different from Other Free Zones?
Dubai Techno Park has been regarded as one of the largest industrial hubs in the Middle East. The variety of highly specialized businesses makes it unique and a place where you can find partners at your fingertips.
Dubai's tax-free environment makes it a favorite spot for foreign investors. Also, it is amongst the friendliest places for investors in the Middle East. DTP provides full services to support business growth, including infrastructure, resources, and market opportunities.
The free zone enables companies to operate within an international legal framework that provides stability and flexibility, enhancing business competitiveness throughout the region. Some 3,000 companies have already availed themselves of Dubai Technology Park's services.
With new companies joining weekly, many investors flock to the park to occupy available land to build their businesses. It was conceptualized to provide effective solutions to the rising demand for office space, support the growth of SMEs, encourage technological advancement and create potential employment opportunities in the emirate.
Benefits of Starting a Business in Dubai Technopark DTP
Dubai Techno Park offers businesses many benefits if they set up establishments here. There are many incentives and exemptions from government tax, reducing the cost to business owners and expatriates based in the area.
- 100% foreign ownership
- 0% percent corporate tax rate
- No currency restrictions
- The long-term lease agreement of up to 15 years
- World-class infrastructure and single-window clearance
Types of Company Formation Within DTP - Dubai Techno Park
Dubai Technology Park (DTP) allows for establishing different types of companies. Some of the legal entities are given below.
- A Limited Liability Company
- A Sole Establishment
- A Civil Company
- Branch Office
- A Branch of a Foreign Company
How to Start a Business in Dubai Techno Park Free Zone?
One should follow the procedure to start a business in Dubai Technopark free zone.
Find a business activity.
The first and foremost stage is to find a business activity. Finding a business activity can sometimes seem to be confusing. So, get detailed research in the market and differentiate how each activity is growing in the market. Then, depending on that, choose your favorable business.
Select a legal structure
The second step is to find a suitable legal structure for your business. Depending upon the jurisdictions you choose, the type of legal structure varies. Selecting the right one will help you grow your business and explore the different types of legal entities in Dubai-UAE.
Choose a location
Depending upon the chosen activity, select an appropriate location for your business. Selecting the right location will determine how your business is going to be.
Obtain a license
After selecting the location, the next thing to consider is obtaining a business license. Choosing a proper business license in Dubai-UAE may seem to be complicated. To make the entire process trouble-free, you can consult a business expert. An expert with years of experience on the same ground would help you solve your queries.
Open a bank account
The final step is to open a corporate bank account. Usually, opening a business account seems to be a bit complicated. You can get assistance from business experts to be on the right track. Also, get a clear picture of Dubai's corporate bank account opening.
Required Documents Required to Open a Company in Dubai Technopark Free Zone
As an entrepreneur, if you want to start a business in Dubai Technopark free zone, a common thing you should take into consideration is submitting the documents. In every business, documentation is a major concern. Like every business, here are a few basic documents you should submit to the respective authority:
- Duly filled application form
- Copy of business plan
- Notarized articles and memorandum of association
- Original bank statement letter
Henceforth, if your company is expanding its business in Dubai, then Dubai free zone would be ideal for protecting your assets, profitability, and royalties. Also, if you wish to start a business in any free zones, then learn about the company formation in Dubai-free zones.
Why Choose Us
Business Setup Worldwide provides our clients various services, from company incorporation to bank account assistance. Our business experts have years of experience in the same field and help you solve business-related enquires. To make the entire business process easier, you can contact us.
What are the key industries in Dubai Technopark free zone?
The key industries in Dubai Technopark free zone are
Information and Communication Technologies (ICT)
List out the different types of licenses in the Dubai Technopark free zone.
The different types of licenses in the Dubai Technopark free zone are,
When was the Dubai Technopark free zone inaugurated?
Dubai Technopark free zone was inaugurated in the year 2002.
How many days does it take to open a corporate bank account in the Dubai free zone?
Depending upon the free zone, it takes around two weeks to open a corporate bank account in Dubai.