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Dubai’s No. 1 IT Hub
Dubai Internet City (DIC) is one of the Free Zone clusters regulated under Dubai Development Authority, otherwise known as DDA. DIC caters to information technology sector and it is mandated to promote Dubai as one of the world’s most attractive cities for IT businesses.
As Dubai moves towards the implementation of a number of ambitious initiatives – the Dubai Plan 2021, Expo 2020 and the Dubai Innovation Strategy – Dubai Development Authority in general and Dubai Internet City in particular is committed to forging Dubai’s global reputation as a leader in creativity, technology and innovation.
COMPANY TYPES
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- A Free Zone Limited Liability Company (FZ-LLC): FZ-LLC is a new legal entity with its own legal personality. The liability of its members (shareholders) is limited to the value of the share capital they hold in the company. An FZ-LLC can be formed by individual or corporate shareholders or combination of both. Number of shareholders can be from 1 to 50. The minimum capital requirement for incorporation depends on the business activity.
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- Branch: A Branch is a branch or representative office of a legal entity which already exists (local or international). A Branch does not have a separate legal personality, and it derives its power and authority from the parent entity. A Branch must have a General Manager who is responsible for the day-to-day operation of the Branch, but it will not have a board of directors or company secretary. A Branch must retain the same name as the parent entity and end with the designation (Branch).
- Freelancer: The Freelance Permit offers the ability to operate as a freelance professional. The Permit identifies you as a sole practitioner and enables you to conduct your business in your birth name as opposed to a brand name.
Key Advantages:
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- High reputation
- Effective regulatory framework
- Central and convenient location
- Full foreign ownership
- 100% repatriation of capital and profits is allowed
- No tax or duty for import and export
- Flexible commercial lease terms
- Wide range of business activities are available
- No currency restrictions
- State-of-the-art office buildings
- Special licensing for design and fashion with freelance permits for artists and designers