Dubai International Academic City (DIAC) free zone is dedicated to higher education and the pursuit of intellectual growth. DIAC was launched in April 2007 to cater to the needs of the region’s growing and diverse academic community. It serves over 24,000 students from all around the world by being home to numerous national and international colleges. They have nearly 400 undergraduate and postgraduate programs that are offered to these students.
It is a premier destination for higher education in the region, located on a well-furnished 18 million sq. ft. campus with state-of-the-art facilities. DIAC continues to expand and grow as per the needs of its robust and talented academic community. The region provides a special cluster environment where companies across the industry mutually share a work campus that is dedicated to their industry, where they also can collaborate and interact effectively.
Benefits of Setting Up a Business in DIAC
- 100% foreign ownership
- 100% repatriation of capital and profits
- 100% tax and customs duty exemption
- A one-stop shop that provides governmental services
- Ideal academic and business environment for businesses and institutions
- Access to knowledge workers because of the fast-track immigration process
- Presence of reputed global, regional, and local academic institutions
- Communication infrastructure based on next-generation technologies
Types of Entities Allowed in DIAC
- Free Zone Limited Liability Company (FZ-LLC)
- Branch Office of a Local or Foreign Company
Activities Permitted in DIAC
- Higher education
- Online University
- Educational services
- Non-academic services
- Branch school
- Boarding school and general activities
How to Set Up a Business in DIAC?
To register one’s business in Dubai International Academic City, a company is required to get an approval from Dubai Technology and Media Free Zone Authority. Companies seeking business formation in Dubai Academic City can apply for licenses like educational service support, fine arts training, child skills development, training, and many others based on the activities of the business. For a limited liability company, the minimum share capital limit is AED 50,000, but in the case of a branch, there is no minimum limit. To set up a business in DIAC, one has to get a valid license. Also, a company registered in a free zone is not required to submit an audit report to the free zone authorities. To obtain a license, register, and form a business in Dubai free zone, the following procedure needs to be followed:
Procedure to Set Up a Business in DIAC
- Fill the business application form and submit it for initial approval
- Submit the legal documents for registration of the company
- Sign and return the customer confirmation letter and make payment
- Sign the Memorandum and Articles of Association (MAA)
- Deposit the share capital
- Sign the lease and personnel sponsorship agreement
Documents Required to Set Up a Business in DIAC
- Company registration application
- Details of the shareholder(s)
- Original Memorandum and Articles of Association (MAA)
- Board resolution
- Passport copy and specimen signature of the manager and the director(s)
- No-Objection Certificate (NOC) from the residency visa sponsor
- Proof of share capital
- Registration fee and license fee
Why Set Up a Business in DIAC?
Besides an easy setup process, Dubai International Academic free zone also provides various options for companies using flex-desk offices, like:
1. Hot Desk
It is a shared office desk which is used by more than one client. It is of a benefit to freelancers who are looking for affordable office options.
2. Executive Desk
An executive desk is furnished with one desk and a chair, a storage pedestal and a cabinet with a key. These desks are eligible for 2 visas per desk.
3. Executive Office
An executive office is furnished with one executive desk and a chair, visitor’s chairs, a storage cabinet, and a pedestal.
4. Fitted-Out Commercial Space
This offers an upper end for the business environment. From open areas fitted with desks, chairs, and tables to projectors and audio-visual systems, all floors are fully carpeted and have false ceilings with provisions for the Internet, telephone, IT services and electricity.
To avail these advantages and any other help in setting up your business, you can have approached a business consultant so that you can focus solely on the business intricacies of your company. Our business setup services in Dubai are cost-effective and highly trusted in the region. We at Commitbiz are your one-stop-shop for business licensing, registration, immigration, and establishment needs. If you are planning to set up your business in Dubai International Academic City, do contact us, even if it’s for a friendly advice!