Form a Business in Dubai Biotechnology and Research Park

by commitbizadmin 04, Oct 2019

Form a Business in Dubai Biotechnology and Research Park

Launched in the year 2005, Dubai Biotechnology and Research Park was initiated by the UAE Vice President, Sheikh Mohammed bin Rashid Al Maktoum. This free zone is dedicated to the life science industry, biotechnology and pharmaceutical industry and is modelled on the free zone concept. DuBiotech aims at facilitating a rich environment for networking and collaboration within the biotech community by offering products such as office space, laboratory space, R and D operations, and land area manufacturing.

It is a member of Dubai Holding and accommodates the complete life sciences value chain by providing key facilities, investing in infrastructure, and fostering industrial, commercial, academic, and residential projects. DuBiotech's world-class infrastructure comprises of facilities and services for incubators, R&D labs, biotech-related educational and research institutions, manufacturing as well as organizations from supporting and convergent industries.

Activities Permitted in Dubai Biotechnology and Research Park

  • Pharmaceuticals
  • Food and Agriculture
  • Laboratory Research
  • Biotechnology
  • Supply and Manufacturing of Medical Devices
  • Medicine and Nutraceutical
  • Environment and Industry

In addition to this, the free zone also allows registration of companies providing related services such as restaurants, shops, laundry, and more.

Services Provided by DuBiotech Free Zone

Dubai Biotechnology and Research Park free zone gather in one place with everything needed for operations and development of companies in the field of biotechnology. It has a unique world-class laboratory facility area of 256,000 square feet, 25 warehouses of 5,000 square feet each, and offices and land for development. All these buildings are under the territory of the free zone certified LEED (The Leadership in Energy and Environmental Design)

Licenses Provided by DuBiotech Free Zone

  • Marketing
  • Industrial Activity
  • Consultancy
  • Import and Re-export
  • Warehousing
  • Community Organizations
  • Service Activities
  • Research Activities

Types of Company Structures in DuBiotech and Research Park

  • Free Zone Limited Liability Company
  • Branch of a Foreign Company
  • Branch of a Local Company

Benefits of Incorporating in DuBiotech Free Zone

  • 100% foreign ownership
  • 100% repatriation of capital and profits
  • Full exemption on taxes for 50 years
  • No customs duties on goods and services
  • Wide range of leasing options starting from small services offered widely known as THE business center which extends up to larger commercial offices, laboratories, and warehouses
  • Fast track visa services
  • One-stop-shop for governmental services

Features of DuBiotech Free Zone Business Formation

  • Shareholders can be an individual or a corporate entity
  • The director can be an individual only
  • No requirement of submitting an audit report  to the free zone authorities
  • Minimum of 5-6 weeks to obtain the final trade license
  • Company license must be renewed on an annual basis. A penalty will be charged by the authority if the license is renewed after the expiry date

What are the Steps to Register a Company in DuBiotech Free Zone?

The companies in DuBiotech are approved by the Dubai Technology and Media Free Zone Authority. The minimum capital required for a free zone company is AED 50,000, while the branch offices are not imposed with investing a minimum capital. The process to register a business in this Dubai Free Zone is simple and straight-forward. Keep reading to know the steps.

  1. Submit an application for provisional approval. The sales department at DuBiotech handles these applications. The documents required for submitting an application are as follows-
    1. Application form for company registration
    2. Business plan
    3. Color copy of the passport of manager/director/legal representative
  2. The free zone authority will evaluate your application and make a decision within five working days
  3. Submit legal documents for business registration. The set of documents include-
    1. Application form for company registration
    2. Passport copy of the manager
    3. Board resolution
    4. Original Memorandum and Articles of Association
    5. Shareholders details
    6. Managers specimen signature
    7. Proof of share capital
    8. Registration fee and license fee
  4. Once the application and documents are reviewed the confirmation letter will be issued within two working days
  5. Sign and return the confirmation letter and make necessary payments
  6. Sign the Articles and Memorandum of Association
  7. Deposit the share capital after opening a business bank account
  8. Sign lease and personnel sponsorship agreement

Why DuBiotech?

The DuBiotech free zone authority has a world-class infrastructure and facilities that meet the needs and requirements of the organizations. With services for incubators, R&D labs, biotech-related educational and research institutions, etc. Other facilities offered by DuBiotech Free Zone is as follows-

  • Executive offices
  • Hot desks
  • Commercial office space
  • Laboratory space
  • Leasable land area
  • Park facilities

If you want to start a business in this free zone, then we at Commitbiz can help you with it. Contact us today- we’d be glad to assist you.