Dubai Industrial City free zone is a designated special economic zone that is home to a diverse range of over 190 companies, from multinationals to SMEs. The free zone provides an environment that nurtures small businesses through support services and facilities available on their doorstep.
DIC was established to fast-track growth and expand the industrial sector in the United Arab Emirates. While considering the vastness of the DIC free zone, then start a business in Dubai Industrial City.
Benefits of Starting a Business in Dubai Industrial City Free Zone
DIC free zone is geared towards delivering a prominent location and the most suitable facilities to industrial companies and expanding the growth of manufacturing companies in Dubai.
Let's have a glance at the below benefits.
- 100% foreign ownership
- 0% personal and corporate tax
- 100% repatriation of capital and profits
- Wide range of licenses available
- Well-structured business environment
- High credibility with banks
- No restrictions on hiring foreign employees
Types of Business Licenses in the DIC Free Zone
An investor or company can choose any of the following licenses that will be suitable for their business purpose:
- Industrial license
- Commercial license
- Trading license
- Services license
Types of Companies in Dubai Industrial City
Dubai Industrial City presents a range of relevant structure types and can be registered as any of the following forms:
- Free Zone Limited Liability Company (FZ-LLC)
- Branch of a Local or Foreign Company
Also, explore the types of legal entities in Dubai-UAE.
Procedure to Start a Business in DIC
Before starting a business in Dubai Industrial City free zone, one should know the procedure to start a business.
When starting a business of your own, its success or failure will revolve around you. But it would help if you realized that you are not the only competent person. Therefore, you should be aware that consulting experts is also a must if there are things that you cannot handle on your own.
Select Company Type
Choosing the company type is an important task where you can easily get confused. The business type will depend on your needs and requirements for your startup business in UAE, so choosing the right business type for your investment is important. Unfortunately, various company types are available in the market, and selecting a perfect one is very difficult.
Prepare Company Registration
After choosing the company types, your move should be towards preparing for company registration. Once you start your business in Dubai, the most important step is registering your company. It is advisable to find a business consultant who can help you with all the legal aspects of establishing a business in the state or region where you want to start your business.
Select and Lease a Business Location
After you have prepared the documents for company registration and you should try to select and lease a business location for your business. It should be convenient for transportation terms if the place of work is far from your home, affecting employees' labour productivity and working conditions.
Receive Business License
After you select a location and lease it, you will have to apply for a business license. The process of applying for a company license varies from city to city. To make the process easier, consult an expert. Also, knowing about the business license in Dubai-UAE help you grow your business.
Complete Corporate Bank Account Opening
After receiving a business license, the final step is to complete a corporate bank account opening. The corporate bank account is considered a necessity for any business organization that owns its stocks at the bank and so on. Moreover, explore the corporate bank account opening in Dubai-UAE to know the procedures and documents required.
So, in the end, it would seem that the Dubai Industrial City freezone company formation is not for the faint of heart. But it's worth it—the benefits to a company outweigh the costs exponentially, and when you're in it for the long run, you want to ensure you hit the ground running as smoothly as possible.
Why Choose Us
Business Setup Worldwide aids in establishing a company's roots overseas. We assist our clients in laying the groundwork for their businesses while providing ongoing services. In addition, our business specialists assist with the legal procedures, laws, and regulations necessary to establish a business in a foreign country.
Contact us for more information about setting up a business in Dubai Industrial City. We would be happy to help you build the company of your dreams.