Dubai Industrial City (DIC), also known as Dubai Industrial Park, located near the Jebel Ali International Airport, was founded in 2004 and completed in the year 2015. DIC is stretched over a sprawling area of 560 million sq. ft., which now accommodates more than 200 companies, food & beverage zone, base-metal & transportation zone, warehouses, and an extensive conservation zone along with logistics, education, and other facilities. DIC is an ideal hub for investors who are targeting global markets. Dubai Industrial City (DIC) is a member of TECOM Investments and is the largest Information and Communications Technology (ICT) hub in the Middle East and North Africa (MENA) region.
DIC or Dubai Industrial Park is under the jurisdiction of Dubai Technology and Media Free Zone (DTMFZA). This Dubai free zone is a base for giant MNCs amongst whom many are Fortune 500 companies, including Facebook and LinkedIn. Dubai Industrial City free zone is driven towards providing the best location and facilities to the industrial companies and fostering the growth of manufacturing companies in the emirate. DIC free zone ensures that companies work at their optimal capacity and meet future expansion needs. DIC free zone provides pre-built warehouses in Dubai for logistics and light industrial use, retail showroom, labor villages/camps, office space, open storage yards, commercial land, as well as on-site assistance with construction, facility start-up, and operations.
Advantages of Setting Up a Business in DIC
An entire Dubai free zone which is built only for the development and growth of the industrial sector in Dubai speaks volumes of the government’s focus on industrial development in the emirate. This Dubai free zone contributes to the betterment of the companies involved in the manufacturing of goods. Companies in Dubai Industrial City enjoy the following benefits:
- 100% foreign ownership
- 100% repatriation of capital and profits
- No personal income tax or corporate tax
- Duty-free imports of machinery, equipment and raw material for the production
- Tariff-free access to the Gulf Cooperation Council (GCC) and MENA markets for manufacturers adding 40% value locally, as a result of UAE’s Free Trade Agreement
- Great potential for the industrial sector
- Top-notch and advanced IT infrastructure
- DIC has the world’s largest IP telephonic network
- A well-structured environment and availability of various business clusters, including some of the biggest companies
- A dynamic international community and a great opportunity for business networking and connections
- Flexible business laws and no bureaucratic red tape
- Simple company formation and availability of all basic amenities under a single roof
- Availability of skilled labor and multi-lingual experienced employees
- 24*7 security and visa facility
Types of Licenses Available in DIC
A company can opt for any of the following 4 business licenses, according to their business activity:
1. Trading License
Activities like buying /selling of goods, storage, and all other trading activities can be legally carried out by obtaining a trading license.
2. Service License
Firms dealing with services like accounting & auditing, consulting, management, and other professional services should have a service license to operate in DIC.
3. Commercial License
For carrying out any commercial activities in DIC, one needs to have a commercial license.
4. Industrial License
One of the most prominent and commonly opted licenses in Dubai Industrial City is the industrial license, which authorizes the owner to carry out manufacturing activities.
Types of Legal Entities in Dubai Industrial Park
The following 2 types of companies can be registered in DIC:
1. Free Zone Limited Liability Company (FZ-LLC)
- Shareholders can be an individual or a corporate person
- It should have at least 1 director
- The minimum capital requirement is AED 50,000
2. Branch of a Local Registered Company a Foreign Company
- It is a base to conduct activities of the parent company in another city or country
- No minimum capital is required
Procedure for Business Setup in DIC
Dubai Industrial Park provides a cluster environment for companies to penetrate into different sectors of the free zone. DIC is divided into 6 main zones, making it easy for companies to finalize upon a location:
- Food and Beverage Zone
- Transport Equipment and Parts Zone
- Machinery and Equipment Zone
- Mineral Products Zone
- Base Metal Zone
- Chemicals Zone
Steps for Business Registration in DIC
- Contact the business park personnel and submit the application form along with other relevant documents: (1) license application form, (2) business plan, and (3) passport copy of the manager, director(s), shareholder(s), the legal representative of the company.
- Send the legal documents for company registration to the business sales park personnel. In return, the authority will issue a customer confirmation letter, details of company, office, and payment.
- Sign the customer confirmation letter and send it back to the authority for review, and make the necessary payments. After this, the department of registration and licensing in the free zone will review the documents and issue Articles of Association (AOA), Memorandum of Association (MOA) and bank introduction letter.
- You need to sign the issued AOA, MOA, bank introduction letter and attested resolution.
- Open a bank account in the name of the company, deposit the share capital and submit the proof of letter issued by the bank to the business park personnel.
- After submission, your business license and lease will be prepared by the free zone authority. A Certificate of Incorporation will be issued by the authority, after which the registrar will sign and seal the MOA and AOA of the company. The TECOM Leasing Department will prepare the lease agreement for the company.
- The final step is to sign the lease agreement and collect the license from the authorities and also collect the keys to the office from the TECOM Security Department.
Dubai Industrial City is a cost-effective and efficient spot for business setup in Dubai for manufacturing-oriented companies. This Dubai free zone strives towards growing investments in the industrial sector of the Emirate. Commitbiz will assist you in your business incorporation in DIC by ensuring your business registration, licensing, leasing, banking, VAT registration, visa services, taxation, and all other business formation services, and support you with a smooth business incorporation. Our liaison and connectivity with the authorities and legal in-charges can speed up your company formation process and get you started with your business venture in a jiffy. Contact us, and our experts will be glad to assist you.