Dubai Academic City
Dubai, one of the Emirates in the United Arab Emirates, hosts a number of free zones to enable entrepreneurs from across the world to set up businesses in the UAE. These free zones offer certain facilities and benefits to help them scale their business.
Here, we take a look at one of these freezones named ‘Dubai Academic City’. Established in 2007, it was designed to cater as the region’s academic hub for local, regional and global educational institutions. The free zone which is also known as ‘Dubai International Academic City’ nurtures innovation by offering state-of-the-art facilities and a diversity of programs and courses.
Read on to know more about the freezone and how to set up a business.
Types of Legal Entities Allowed in Dubai Academic City Free Zone
Some of the legal entities you can choose from when registering a business in DIC free zone include:
- Free Zone Limited Liability Company (FZ-LLC) - It can be formed as an independent entity with shareholders.
- Branch of a UAE or Foreign Company - It is considered a part of the parent company even though it is located in a different jurisdiction.
- Sole Traders - A company can be formed by them in the Dubai Academic City free zone without the need of having any partner
Benefits of Business Setup in Dubai International Academic City Free Zone
As an entrepreneur, you can access multiple benefits for company registration in the DIAC free zone. Let us take a look at some of them:
DIAC offers full ownership, repatriation of profits and freedom from paying any kind of tax.
The free zone is strategically located in Dubai.
Provides an ideal business environment and top-notch infrastructure for businesses to scale.
Simple procedure of company incorporation and easy visa issuance process.
Multiple business activities permitted.
How to Set up a Business in Dubai Academic City?
When looking to establish a business in Dubai Academic City, the first step involves determining the business activity which you wish to conduct in the free zone.
The next step involves choosing the appropriate business structure based on the business requirements.
Once the business activity and legal entity is finalised, an application must be submitted to the relevant authority with the necessary documents.
Once the authorities verify the application and the documents, pay the applicable fee and obtain the relevant approvals and trade license in order to successfully run the business in the DIAC free zone.
Once you obtain the license, you need to shortlist a bank and approach them in order to open a corporate bank account in the UAE.
Let us take a look at the process of setting up a business in Dubai International Academic City free zone:
Documents Needed for Setting up a Business in Dubai Academic City Free Zone
- Passport copies and specimen signature of director, manager, and shareholders
- Copy of trade name certificate
- Proof of Share Capital
- Copy of No Objection Certificate (NOC) from residency visa sponsor
- Copy of Board Resolution (For Branch)
- Original Memorandum of Association (MoA) and Articles of Association (AoA) (For Branch)
- Receipt of Registration and License fee
What our clients say
Setting up a freezone company in Dubai with Gryffin Capitalist is straightforward and efficient. The team provides expert guidance, ensuring compliance with all legal requirements.
Gryffin Capitalist simplifies Sharjah freezone company formation with its expert advisors and tailored services. They handled everything from documentation to licensing efficiently.
Gryffin Capitalist delivers exceptional service for hassle-free UAE freezone company formation. They offer step-by-step guidance, ensuring your business is operational quickly.
Why Choose Gryffin Capitalist?
Establishing a business in a Dubai freezone involves navigating a series of legalities. Given this, it is advisable to approach experts like Gryffin Capitalist. Company formation specialists fully understand the regulations put in place by the government and the relevant authorities. They can ensure that the formalities are completed in a hassle-free manner with you focusing on scaling the business.
With 7+ years of experience in assisting clients with business setup across UAE, we are capable of taking care of your requirements when setting up a business in Dubai Academic City. Contact our advisors to learn about the customised business solutions and get started with your entrepreneurial journey.
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Efficient and Transparent Process
Best Freezones to choose to start your Company
Our business consultants have chosen freezones which are ideal for start-ups, business owners, and SME companies. These freezone provide a quick company registration process and a complete ecosystem for businesses.
Frequently Asked Questions (FAQs)
As an entrepreneur, you can opt for a license based on your chosen business activity. It can be among commercial, professional and industrial permits, which are valid for one year from the date of issuance.
Dubai Academic City allows business activities like setting up insurance companies, consulting firms, boarding schools, and academic and non-academic institutions, among others.
No minimum capital is required to set up a branch office in the DIAC Free Zone.
The amount payable to the authorities depends on a variety of factors. The chosen business activity, license required, and available office space play an important role when deciding on the fee payable to the authorities.
In the Free Zone, you can access different kinds of offices as per your business requirements. It includes fitted and non-fitted in various sizes.
