Quality education is the foundation of economic development in a country. The Knowledge and Human Development Authority (KHDA) regulates the education sector in Dubai. They have taken significant strides by understanding the needs of students, parents, and educators to enhance the learning experience and scale the private education sector in Dubai.
The collective efforts of TECOM Investments and KHDA transformed the entire education sector in the Emirate by establishing Dubai International Academic City (DIAC). By partnering with renowned universities like Manchester, Birmingham, and BITS Pilani from various countries, DIAC has strengthened its position in the education sector.
They focus on creating an environment which fosters innovation and economic growth and caters to students worldwide. This makes the freezone an underrated yet highly lucrative destination for registering a business.
Read this article to learn how to set up a business in DIAC and join hands in transforming Dubai's education landscape.
Facilities in Dubai International Academic City
Some of the facilities that make the Dubai Academic City one of the sought-after academic hubs include:
Commercial Spaces
DIAC offers a variety of modern and strategically located offices and campuses that can be customised to suit your business objectives.
D/Quarters
This unique co-working space helps like-minded people connect and collaborate to promote innovation. D/quarters offers several co-working options, ensuring businesses of all sizes meet their operational requirements.
Incubation Hubs
Access to ‘in5’, an incubation hub offers creative spaces, specialised industry centres to help entrepreneurs in achieving their business goals.
Go Freelance
Go Freelance is a community of self-employed individuals showcasing their skills in education, tech, and media. The international academic city freezone in Dubai supports freelancers by providing access to an online platform that helps them find exclusive opportunities and build a strong network.
Retail hubs
They are convenient retail stores and kiosk businesses in the Dubai Academic City freezone, catering to a large student base.
Process of Business setup in DIAC
Navigating through the legalities and understanding local laws can streamline the company incorporation process in the Dubai International Academic City. The involved steps are listed below:
Step 1: Choose a unique company name and fill the application process.
Step 2: Select between freelancing or setting up a branch office in Dubai or a limited liability company.
Step 3: Complete the documentation process for commercial registration and availing of the relevant business license.
Step 4: Pay the requisite fees to obtain the license.
Step 5: Avail an office space to conduct business in the freezone.
Step 6: Open a free zone bank account to streamline business transactions and meet the minimum capital requirements.
Documents Required for Company Incorporation in DIAC
For a company set up in the Dubai International Academic City, the documents mentioned below must be submitted:
- Application form.
- Copy of business plan.
- Copy of lease agreement.
- Copy of the certificate of incorporation.
- Valid copies of the passport and visas of the manager and shareholders.
- Copy of Articles of Association (AoA) and Memorandum of Association (MoA).
Why Commitbiz LLC?
Our business setup consultants in Dubai have been solving company registration challenges by providing comprehensive services for over 17 years. If you have any questions regarding company incorporation in Dubai International Academic City, Commitbiz LLC can provide customised solutions. From providing taxation and PRO services in Dubai to intellectual property registration, we provide end-to-end services and support. Contact us to register a business in the freezone and scale it.
Where is Dubai International Academic City located?
The Dubai International Academic City is located near Silicon Oasis and International City Phase 2.
How many universities and courses are there in DIAC?
The Dubai International Academic City is home to nearly 28 international universities offering over 500 courses.
Which business activities are permitted in DIAC?
All business activities related to the education sector are permitted. A few include opening an online university and providing non-academic services like student counselling.
Is corporate, personal, or withholding tax applicable to companies setup in Dubai International Academic City?
DIAC offers a tax-free environment for entrepreneurs who set up a business; hence, there is no need to pay corporate, personal, or withholding taxes.