Outsourcing business activities has lately been the talk of the town. It is not only money and time-saving method but will also help the company in getting business solutions from the industry experts. Naturally, the most preferred business hub in the UAE, Dubai, has been flocked with the companies providing the outsourcing services. In fact, the Emirate has a free zone providing business setup needs, specially for such outsourcing companies. Let us know more about it.
Dubai Outsource City Free Zone is developed by TECOM enterprise that provides a comprehensive solution for outsourcing companies. It was launched in the year 2007 by the Dubai Internet City with a primary purpose of catering demand for outsourcing companies. DOC free zone in Dubai supports HR outsourcing, IT outsourcing, back office activities, call centre operations, and business process outsourcing. It presently houses over 120 companies, including global companies who have chosen DOC for their back office and outsourcing activities. Currently, significant business concerns like Adventity BPO, Air Travel Enterprises, Alwesal Marketing Management, Dulsco, MENA Business Services are operating from DOC.
Advantages of Dubai Outsource City Free Zone
- 100% foreign ownership
- Geographically strategic location
- 100% repatriation of profits and capital
- Low-cost business operations
- Simplified incorporation process
- Hassle-free company laws and legal framework
- Quick access to knowledge workers due to the fast-track immigration process
Types of Business Entities to be registered in DOC Free Zone
Both foreign and local individuals can set up a company in DOC free zone. The corporate structures allowed are as follow-
- Free Zone Limited Liability Company (FZ-LLC) – This type of business entity is formed as an independent legal entity with its shareholders. The minimum capital requirement depends on the business activities followed by the business. It includes the following-
- FZ-LLC with a corporate person as a shareholder
- FZ-LLC with natural and corporate person as a shareholder
- FZ-LLC with natural person as a shareholder
- Branch of a Foreign / UAE Company – A branch office is said to be officially dependent on its home company, even if its place of concern is not in the leading company's headquarters. Under this, there is no mandate of minimum capital requirement.
Facilities Provided by DOC Free Zone
Following facilities provided by DOC free zone-
- Office space – DOC free zone provides state-of-art commercial offices, suited for all types of businesses and professional corporate venues. The office spaces will range from 1,000 square feet and upwards
- Retail - Restaurants, Pharmacies, Parlors, Convenience Stores, and other retail shops add utility and enjoyment to a community environment. Land for retail purposes is located close to the designated community centres in Dubai Outsource City.
Procedure to Set up a Business in DOC Free Zone
Here are the steps required to register your business in the DOC free zone.
- Select and register your company name
- Select a business entity from the above-mentioned options
- File for an application to the Free Zone Authority. The form should be filled in with all the required details of the applicant. It must also include documents which are as follows-
- Business Plan
- Valid passport copies of shareholders, managers, directors, and legal representative (if appointed)
- Certificate of business name registration
- Once all the documents are submitted, you must also obtain the business license
- For obtaining a license, you have to submit one more application the officials
- After your documents have been approved, the next step is the selection of an office space and payment of all the fees
- Select a suitable commercial office space
- Pay fees of company registration and business license to the authorities
- To officially begin the business, sign and collect the following documents-
- Office Lease
- Articles and Memorandum of Association
- License and Certificate of Incorporation
Requirements to Open a Company in DOC Free Zone
There are a few conditions you need to follows to open a company in this free zone. They are-
- A minimum share capital of AED 300,000
- At least one shareholder (an individual or a company)
- At least one director
The process is simple and straight-forward and can be completed with a little help from the advisors. We at Commitbiz can be the ‘help’ you require for setting up a business in DOC free zone. Contact us today- we’d be glad to help you out.