Dubai Knowledge Village (DKV) is the world’s only free zone in the city of Dubai which is completely into human resource management, professional learning and educational intelligence. It was established in the year 2003 by TECOM group. This free zone aims to develop the talent pool in the region and make the UAE a knowledge-based economy. With over 450 business partners, DKV aims to establish itself as a trusted business partner and a center of excellence for business development.
Dubai Knowledge Village was built by HH Sheikh Mohammed Bin Rashid Al Maktoum with an aim to grow free zone industries in the Middle East. Considering the need to cater to the training and development sector, DKV has transformed itself as the single free zone dedicated completely to Human Resource Development and Learning Excellence.
Benefits of Setting Up a Business in DKV Free Zone
- 100% foreign ownership
- 100% exemption on corporate and personal income tax for 50 years
- 100% repatriation of capital and profits
- Zero customs duty for goods and services
- An ideal business environment for clients
- Well-known local, regional and global players
- 24/7 visa services
- Cluster work environment which facilitates successful and profitable operations
- Simple legal framework procedure
- Access to knowledge workers because of fast-track immigration process
Types of Companies in DKV Free Zone
1. Free Zone Limited Liability Company (FZ-LLC)
It is formed as a separate legal entity with shareholders as individuals and/or corporate entities.
2. Branch of a Foreign Company
A branch is an overseas office of business that is legally dependent on its parent company.
3. Freelancer
A freelancer can work as a business of one’s own accord, providing products or services under one’s own name.
Activities Permitted in DKV Free Zone
- Computer training
- Language training
- Fine arts training
- Tutoring services
- Technical and occupational skills
- Professional and management development training
- Child skills development training
- Human resource consultancy
- Content development
- Assessment and training
- Freelancing and association
Licenses Available in DKV Free Zone
- Freelance Permit
- Commercial License
How to Set Up a Business in DKV Free Zone?
Dubai Technology and Media Free Zone Authorities (DTMFZ) approves the setting up of companies in DKV companies. To set up a company in DKV free zone, one needs to have a valid license made available by the free zone. To get a license, one needs to follow the procedure mentioned by the free zone authority by providing the valid set of documents and paying the fee requested by them. The procedure to get the license and register the business is as below.
Procedure to Set Up a Business in DKV Free Zone
- Fill the application and submit it for initial approval
- Submit 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 of share capital
- Sign the lease and personnel sponsorship agreement
Documents Required to Set Up a Business in DKV Free Zone
- 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 residency visa sponsor
- Proof of share capital
- Registration fee and license fee
- Agreement for personnel secondment
- Certificate of Authorization for the Gulf Standardization Organization (GSO)
Why Set Up a Business in DKV Free Zone?
Setting up a business in Dubai free zone has been a profitable venture for investors around the world, because of which more number of businesspeople are looking for an opportunity to form a company in one of the free zones in Dubai. Most of the free zones in the UAE have their concentration on trading and manufacturing activities, but DKV has a completely different approach toward business setup, making it a one-of-a-kind free zone in Dubai. In return, it has been a unique support to the UAE’s economy.
One of the benefits of this location is the Dubai free zone company setup cost. Other benefits that it offers are:
1. Easy Registration
Setting up a business in Dubai Knowledge Village can be easy in terms of registration. They offer an easy and hassle-free process. The payment in DKV is also low compared to most of the other Dubai free zones.
2. Leveraging on Shareholders
The Commercial Companies Law has stipulated certain criteria stating the number of participants or shareholders during the forming of business. However, in DKV, there is no constraint on the number of shareholders.
3. Infrastructural Benefits
DKV is divided into a three-phase module with world-class facilities and infrastructure. It is well connected to roads and metros that are easily accessible.
4. Fewer Licensing Formalities
DKV business setup requires only two types of licensing: commercial license and service license.
Freedom of doing business, huge tax savings, and favorable government policies lead investors and businessmen to setup their operations in Dubai Knowledge Village free zone. Commitbiz has the experience and resources to help you realize your company setup dreams without worrying about the red tape, visa applications, documentation and licensing formalities, residence permits, banking details, etc., as our experts take care of all these requirements.
Contact us for DKV free zone company formation, and our business advisors will be glad to assist you with company incorporation support.