Guide to Start a Business in Dubai Techno Park

by commitbizadmin 25, Oct 2019

Guide to Start a Business in Dubai Techno Park

Dubai Techno Park Free Zone was established in the year 2002 and is dedicated to information technology. The main aim of Dubai Techno Park is to advance the technological development within the commercial zone. It acquires an area of 21,000,000 square metres, about 30% of which is an open space area. This free zone is an industrial complex, located in the heart of Dubai’s Industrial Zone, Jebel Ali.

Techno Park is a member of Economic Zones World (EZW). Its vision is to develop a business point to help in the growth of the economy in the Emirates by encouraging scientific activities and increasing the usage of technology in the region. Currently, Dubai Techno Park is home to some of the world's most high-profile businesses specializing in oil, technology, gas, and petrochemical industry, and other such industries which makes this free zone one of the largest industrial hubs in the Middle-East.

Some of the key features offered by this Dubai Free Zone are-

  • Covers 21 million square metres of land, about 30% of which is an open space area
  • Brings the most advanced businesses in the world together, fostering shared understanding through research and growth of new technologies
  • Visions to cultivate exceptional knowledge for the future, by promoting continuous innovation and progress

The key focus of Techno Park in Dubai is on the Middle-East’s core economic sectors including,

  • Water Resource Management
  • Development of alternative and useful energy resources
  • Environmental Resource Management

It also focuses on other areas as under-

  • Life Science
  • Sustainable Industrial Development
  • Information and Communication Technologies
  • Socio-Economic Knowledge

Facilities Provided by the Dubai Techno Park Free Zone

  1. The Technology Core- It is a central business district, which includes the following
    1. The Landmark Building – It is the parks most distinguished tower, representing the renewable energy
    2. The Boulevard – It is a spacious, tree-lined primary access route connecting the Campus Core of the Landmark Building
    3. The Campus Core – It is home to technology-driven, specialized university campuses
    4. The R and D Core – It is a low-rise development with incubator facilities for technological innovation
  2. The Mixed Use- It strip frames the gateway into Techno Park from Sheikh Zayed Road. It is also the central business development with a mega mall, showrooms, retail outlets, and business class hotels and houses two 8-storey office buildings
  3. The Industrial Zone- It is the parks manufacturing arm, purposefully located on the north-western outer rim to minimize environmental impact and traffic disruption. It features showrooms, hotels, and office buildings

Types of Licenses Issued in Dubai Techno Park

  • Industrial License – For production and packaging of these products
  • Professional License – For the realization of professional activities
  • Trade License – For import, export, distribution, and storage of specific list of goods

Company Structures Available in Dubai Techno Park

  • Limited Liability Company
  • Sole Establishment
  • Civil Company
  • Branch Office. One can establish different types of branch offices in this zone as under-
    • A branch office of a Free Zone Establishment
    • A branch office of a Free Zone Company
    • A branch office of an LLC
    • A branch office of a Sole Establishment based in the Emirates of Dubai
    • A branch of a GCC Company
    • A branch of a foreign company

Procedure to Start a Business in Dubai Techno Park Free Zone

The process to register a company in Dubai Techno Park Free Zone is simple and straight-forward. The steps are the same as any other free zone in Dubai which are as follows-

  1. Register a trade name with the authorities
  2. Get an initial approval from the free zone authority of Techno Park
  3. Fill an application form, attach all the required documents, and submit it to the authority
  4. The authority will review the documents and make a decision within a week
  5. You will be given a Certificate of Registration once the application is approved
  6. Pay the fees
  7. Get license according to your business activity
  8. Get an office space
  9. Open a business bank account
  10. Commence your business officially

Why Start a Business in Dubai Techno Park?

Dubai Techno Park provides humongous opportunities to the technology-driven industries. It provides an investor wanting to start a business with a set of advantages as mentioned below-

  • 100% foreign ownership
  • 0% corporate and personal tax
  • Full repatriation of capital and profits
  • Long-term lease agreement up to 15 years
  • World-class infrastructure and single-window clearance
  • No currency restrictions

Still skeptical? Don’t worry. Hire a business consultant who will wash away all your doubts and help you in the business setup process.

Commitbiz provides business setup solutions for your start-up in Dubai. Contact us today- we’d be happy to assist you.