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Saturday, November 12, 2011

COMPANY FORMATION IN DUBAI INTERNET CITY

20070904_dmc

faisal ibrahim

00971-552419200

faisal@adamoutsource.com

 

 

The Centre of the Middle East Economy

Dubai has emerged as a leading regional commercial hub with state-of-art infrastructure and a world class business environment. It has now become the logical place to do business in the Middle East , providing investors with a unique and comprehensive value added platform.

With its strategic location, tax-free living and consistently strong economic outlook, Dubai is the ideal base for multinationals targeting markets in Central Asia, the Middle East, Africa, the Asian Subcontinent and the Eastern Mediterranean. These regions have a population of over 2 billion people and a combined GDP of US$ 6.7 trillion.

Accessible through its ultra modern airport, that offers connections to over 140 destinations, Dubai is also a thriving tourist destination and attracts a large number of skilled professionals. Its robust economic cluster of technology, media, finance and healthcare hubs makes Dubai a viable and attractive proposition for any business.

Apart from economic advantages, the city offers a superior quality lifestyle that is truly international with luxury residential and office accommodation and excellent educational, health and shopping facilities. Sporting and leisure facilities are abundant and Dubai 's top class international hotels offer a wide range of dining and entertainment choices.

 

 

 

DUBAI INTERNET CITY

Since its official opening in 2000, Dubai Internet City has grown to become the Middle East and North Africa’s largest Information and Communications Technology cluster hosting both global and regional companies.

The business park offers an environment that attracts all the element of the ICT value chain, that helps ICT businesses develop, innovate and grow whilst enjoying free zone benefits which include 100% business ownership and exemption from taxes as well as rich networking opportunities, industry building programs and government services

 

Why DIC

 

Dubai Internet City is the Middle East and North Africa’s largest Information and Communications Technology cluster. DIC provides a comprehensive ecosystem, infrastructure, and environment for companies who wish to set up their ICT business in the UAE.

DIC offers a ‘one-stop shop’ arrangement, giving Business Partners the freedom to focus on their core operations including company incorporation, trade license and visa services.

 

One-Shop Stop

  • Swift Registration Process
  • Company Incorporation
  • Trade License
  • Visa Services
  • Telecom and Internet Services
  • Data Services
  • Facilities Management
  • Health, Security and Safety Services

 

Companies located at DIC also enjoy a host of free zone benefits including 100 per cent ownership, absence of corporate and personal income taxes or customs duties, as well as free repatriation of capital and profit in any currency. Companies set up in DIC enjoy an environment that attracts different elements of the value chain from Banking and Finance, Insurance, IT, Legal to Airlines and Hospitality

 

Key Benefits of Dubai Internet City

  • 100 per cent exemption from personal income tax for 50 years
  • 100 per cent exemption from corporate taxes for 50 years
  • 100 per cent foreign ownership
  • 100 per cent repatriation of profits
  • Metro Ethernet environment
  • Dynamic international community
  • Opportunities for business interaction and networking
  • Opportunities for channel and market development
  • Communications infrastructure based on next-generation technologies
  • Digital voice and high-speed data services offered at competitive rates

 

Our Products

 

Located in the heart of “New Dubai”, next to Dubai Media City and Dubai Knowledge Village, DIC offers state-of-the-art offices and shared facilities to fully support businesses and the community at large.

DIC offers a variety of products to potential clients:

 

1) Commercial Offices – these are office/ floor spaces

DIC provides state of the art commercial offices, suited for all business types and professional corporate venues surrounded by landscaped gardens and a lakeside amphitheatre. The zone includes over 25 buildings offering premium commercial real estate products in low rise, mid-rise and high rise categories.

The commercial offices key characteristics include:

  • Innovative design that offers easy communication between the operational, administration and decision making entities of your business.
  • Office Buildings equipped with an exceptional Building Management System (BMS) which offers a wide range of integrated services, including energy saving and security systems.
  • Supporting commercial areas that provide services such as banking, retail, catering and government services.
  • Ample indoor and outdoor car parking with reserve options.

 

2) First Steps Business Center

First Steps Business Center allows companies to lease short term office spaces, while exploring business and market opportunities. First Step Business Centre offers an enabling combination of a comprehensive working area, which includes a fully furnished office along with administrative services and an advanced infrastructure.

Companies can operate in the DIC First Steps Business Center as a fully operational ‘Branch of a Foreign Company’ or ‘Free Zone Limited Liability Company’ for a minimum lease term of one year after successfully completing the registration process.

The First Steps Business Center facilities at Dubai Internet City include:

  • Executive Desk: A hot desk in a shared office space that can be used by one client. A hot desk is perfect for Freelancers who require space to complete office work such as email, browsing, printing and calling. Hot desk clients are eligible for one visa per freelancer.
  • Executive Office - An executive office is a full-fledged furnished office environment, available in different sizes and with a capacity to accommodate between two to seven employees per office.

Companies joining First Steps Business Center are offered choices in the size and location of private office spaces, each with access to the following facilities.

  • Licenses and Visas
    • Commercial license valid for one year
    • Residency visa (the number of visas is dependent on office types)
  • Support services and facilities
    •  Presentation aids (Flipchart and Projector)
    • Shared Printing Facilities
    • 24 hours Security
    • Business address
    • Office Cleaning
    • Kitchen Area with Free Refreshments (Common)
    • Parking Spaces (Common)
  • Upon request:
    • Business Visitor Visas
    • Meeting & Conference Rooms
    • Courier Services

 

3) Conference Facilities

 

4) Venue management

Through a dedicated Venue Management team, DIC complements its offering with professional corporate venues that enhance the communities’ ability to network and to work collaboratively with each other. DIC Events locations are surrounded by stunning landscaped gardens and a lakeside amphitheatre.

For an event that reflects a distinctive style, turn to Dubai Internet City. Our dedicated venue management services ensure a truly outstanding event.
For more information contact: +971 4 391 1111

 

Access & Transport:

  • Airports: Dubai Internet City is 30 minutes away from Dubai International Airport and 45 minutes from Abu Dhabi airport.
  • Taxis: Can be called via RTA’s dedicated number +971 4 208 0808.
  • Car Rental: There is a choice of rental car outlets located at Dubai Internet City, http://dic.ae/outlets/car-rental.php
  • Metro & Buses: DIC is a seven minute walk from Dubai Metro and is accessible by metro feeder buses. Bus lines 32A and 39A also service the district. Please refer to the RTA’s journey planner to confirm schedules andplan your trip or call the RTA at 800-9090.
  • Parking: Free parking is available in most buildings and are supplemented by metered roadside parking  

 

Amenities:

Dining & Retail: 
Dubai Internet City retail outlets (http://dic.ae/outlets/index.html) provide you with the business support services you need to cater to your daily requirements of dining services, banking, courier services and many others. 

You can access these stores and services during your busy working hours, without having to leave the zone

Locate document TECOM dining & retail guide and upload here.


Hotels: Dubai Internet City offers a selection of well-appointed business hotels in the zone including: 

  • Media One Hotel
  • Radisson SAS Blue Hotel
  • Arjan Rotana
  • Holiday Inn Hotel
  • Golden Tulip
  • Gloria Hotel
  • Grand Midwest Hotel

 

Fitness Facilities:
In addition to fitness facilities offered in hotels throughout the zone, there is a Fitness First Platinum located in Business Central Towers.

 

ATM & Banking: There are a number of ATMs and banking facilities (http://dic.ae/outlets/banking-services.php) throughout the zone including Sharia compliant services. (identify one person to confirm for each zone) DIC #2

 

 

ndustry Potential

 

GCC is currently home to one of the fastest growing populations in the world.

  • The population is forecast to grow at a rate of 2.1% in the next 5 years to reach about 42 million by 2014.
  • Meanwhile, it is estimated that about 40% of the population in the GCC countries are expatriates. As a result, the population is predominately young, and are technology savvy.

 

Age distribution in the Middle East, especially in the GCC countries is more heavily skewed towards the youth segment. On an average 60% of the population in the GCC countries is below 35 years of age.
Telecommunication services are currently under heavy development in the Middle East, where:

  • Broadband household penetration levels in the MENA region will increase from 18.5% in 2010 to 38.5% in 2014.
  • Internet household penetration levels in the MENA region will increase from 39.7% in 2010 to 64.3% in 2014.

 

With a young population and an increase in broadband penetration in the MENA region, further development of the ICT industry, leveraging techno savvy young customer base and connected infrastructure migration will be in full force in the coming years.
The broader Middle East is one of the fastest growing ICT regions in the world, with a total ICT spend predicted to reach US$ 81 billion by 2015.

  • The telecoms market

is the greatest contributor to the ICT market with these revenues alone expected to reach almost US$50 billion by 2015.

  • After KSA, UAE is the second biggest ICT spending nation expected to grow to US$16.5 billion by 2012. Drivers such as convergence, the emergence of cloud computing and a greater adoption of outsourced and managed services are expected to drive the market.

 

In particular, taking into account the UAE ICT Market, the main highlights are as follows:

  • In the UAE, Government led initiatives are a key force driving IT expenditure. This is particularly true in the healthcare, education, transport and civil services sectors
  • The SME market within the UAE is expected to account for 45% of ICT expenditure by 2015 Currently basic telecommunications and networking services account for the greatest portion of IT expenditure

 

http://www.dubaiinternetcity.com/images/stories/industry-potential.jpg

 

 

icensing

 

The ‘Registration and Licensing Department’ of Dubai Technology and Media Free Zone Authority (DTMFZA) provides all registration and licensing services for companies operating in the Free Zone. All services provided are subject to the applicable laws and regulations in the Free Zone issued by DTMFZA as amended from time to time.  The procedure and forms for license renewal, amendments and cancellation can be accessed from DTMFZA website

License Renewal

  • Commercial licenses are for a period of one year and are renewable on an annual basis, to enable companies to continue their operation. To access the procedure and forms for license renewal, please click here
  • Please note that if there is a delay in renewing the license, DTMFZA will impose a financial penalty as per the prevailing tariff and may suspend or revoke the license

License Amendments

Business Partners may apply to make the following amendments to their commercial license:

  • Change Company Name
    • Company Name Change (FZ-LLC)
    • Operating Name Change (branch of a foreign company)
    • Parent company name change  (branch of a foreign company)
  • Change Director
  • Change Manager
  • Change Company address
  • Change or add a segment or activity
  • Change of activity / add activity within the same segment
    • Add new activity under new segment
    • Add new publication title
    • Add new publication segment
    • Add new channel
    • Add new broadcasting segment

To access the procedure and forms for any of the license amendments above, ple

Share Transfer

During the operation of the Company in the Zone, a FZ-LLC can change its Share structure under any of the options below:

  • Increase the Share Capital by issuing new Shares to new or existing shareholders
  • Transfer of existing Shares to new or existing Shareholders
  • Decrease of Share Capital

To access the procedure and forms for change the share structure of your company,

Conversion from Branch of a Foreign Company to a FZ-LLC

While operating as a branch of a company, any Business Partner is allowed to convert their legal status from a Branch to a FZ-LLC.  To access the procedure and forms,

Merge (Amalgamation) of Companies

Two or more Companies which are incorporated in the Zone, may apply for consent to amalgamate and continue as one company.  To access the procedure and forms,

License Cancellation and De-registration

If you wish to cancel your license,  please click here to access the procedure and forms

 

 

Ground Floor, Building No.6,

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