Dubai Internet City (DIC)
Dubai Internet City Authority, Dubai
Description
Established in 1999 and inaugurated in 2000, Dubai Internet City (DIC) is a leading technology business community in the Middle East and North Africa, providing a strategic base for companies targeting emerging markets. It offers state-of-the-art infrastructure, a vibrant ecosystem, and a dynamic environment that fosters innovation and collaboration among global technology companies.
| Emirate | Dubai |
| Website | https://dic.ae/ |
| Contact Email | info@dic.ae |
| Contact Info |
Phone: +971 4 391 1111
Address: Dubai Internet City, Sheikh Zayed Road, Dubai, UAE
|
| Year Established | 1999 |
| License Types | Commercial License, Freelance Permit |
| License Cost | License fees vary based on the type of license and business activity. |
| Formation Cost | Formation costs depend on the chosen license type, facility, and business activity. |
| Minimum Capital Requirement | No specific minimum share capital requirement is specified; it may vary depending on the business activity and legal structure. |
| Allowed Business Activities | Software Development, E-commerce, Telecommunications, IT Services, Consultancy, Sales and Marketing |
| Company Legal Structures | Free Zone Limited Liability Company (FZ-LLC), Branch of a Foreign Company, Branch of a UAE Company |
| Allowed Activities | Software Development, E-commerce, Telecommunications, IT Services, Consultancy, Sales and Marketing |
| Restricted Activities | Activities requiring special approvals from UAE authorities |
| Investor Visa Cost | Visa costs vary based on the investor's profile and specific requirements. |
| Employee Visa Cost | Visa costs vary based on the employee's role and specific requirements. |
| Processing Time (Days) | The company formation process typically takes between 2 to 4 weeks to finalize, depending on documentation and approvals. |
| Physical Office Required | Yes |
| Office Space Options | Commercial Offices, Co-working Spaces, Business Centers |
| Office Space Cost | Office space costs vary based on size, location, and facility specifications. |
| Virtual Office Available | No |
| Bank Account Assistance | Yes |
| Bank Account Cost | Assistance is provided; costs may vary depending on the chosen bank. |
| Partner Banks | Emirates NBD, Mashreq Bank, RAKBANK |
| Governing Laws | Operates under UAE federal laws and Dubai regulations. |
| VAT Registration Required | Yes |
| Corporate Tax Applicable | No |
| Annual Audit Required | Yes |
| Renewal Fees | Annual renewal fees vary based on the type of license and business activity. |
| Business Restrictions | Specific activities may require additional approvals. |
| Ownership Structure | 100% foreign ownership |
| Import/Export Restrictions | No Standard customs regulations apply; specific activities may require additional approvals. |
| Benefits | 100% foreign ownership, Full repatriation of profits and capital, Exemption from personal and corporate taxes, No customs duties on goods and services, Strategic location with access to emerging markets, Comprehensive infrastructure tailored for technology businesses, Access to a large network of global technology companies |
| Drawbacks | Primarily focused on technology and communication sectors |
| Specific Compliance Requirements | Compliance with UAE federal laws and Dubai regulations, Adherence to industry-specific standards and practices |
