Freedom of doing business, substantial tax savings, and favourable government policies lead investors and business people to set up their operations in Dubai. Apart from this, what if you get a separate space dedicated to your chosen business activity? Dubai does that. It offers so many free zones catering to the need of every business, and Dubai Knowledge Village is one of them.
Details on Dubai Knowledge Village
Dubai Knowledge Village (DKV), also known as Dubai Knowledge Park (DKP), is the world’s only free zone in the city of Dubai, which is entirely into human resource management, professional learning, and educational intelligence. It was established in the year 2003 by the TECOM group. 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 to grow free zone industries in the Middle East.
- This free zone aims to develop the talent pool in the region and make the UAE a knowledge-based economy.
- Considering the need to cater to the training and development sector, DKV has transformed itself into a single free zone dedicated to Human Resource Development and Learning Excellence.
The Dubai Knowledge Park Free Zone is a unique business hub for Dubai free zone companies as they are open to offering programs in Human Resource Management (HRM) and others. It is indeed an education-free zone because students who finish the program will obtain diplomas and certificates. The latter is the highest caliber from the excellent business partner of DKV.
Types of Companies in Knowledge Village Free Zone
There are three types of business entities in this 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.
A branch is an overseas business office 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 name.
Activities Permitted in Dubai Knowledge Park
The free zone permits versatile activities, and they are
- 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
Documents Required to Set Up a Business Setup in Dubai Knowledge Village
Keep the documents below to build a business in Dubai Knowledge Park.
- 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)
Dubai Knowledge Village Business Setup Procedure
Follow all the mentioned steps for a smooth business set-up process
Initial Approvals
Register your trade name with the officials and take primary approval from the Dubai Technology and Media Free Zone Authority
Documentation
Fill out the application form and submit all legal documents for company registration.
Fee Payment
The Authority of Dubai Technology and Media Free Zone will review the documents and the application form. After that, sign and return the customer confirmation letter and pay.
MOA and AOA
Sign the Memorandum of Association (MOA) and Articles of Association (MOA)
Share Capital
Deposit the required amount of share capital
Company Registration
Once everything is reviewed, you will be given the Certificate of Incorporation. Sign the lease and personnel sponsorship agreement
Once all the steps are completed, you can open a business bank account in the company’s name, deposit a share capital, and take proof of capital letter to the DKV. Next, visit the TECOM Leasing Department to sign the lease and personnel sponsorship agreement and collect the license.
We at Commitbiz Management Consultant have expertise in the company formation of Dubai Knowledge Park and provide complete solutions for opening a company. Our advisors have years of experience in this field and can make the process hassle-free.
Contact us today- we’d be happy to assist you.