Dubai Design District (d3) is a tailor-made detailed plan development in Dubai devoted to the design community including entrepreneurs, start-ups and established international luxury, fashion and design brands. D3 is a member of Dubai Holding and part of the TECOM Group. The TECOM group Free Zone business park consists of three phases; the first phase included the completion of 11 office buildings in 2015.
D3 will include various facilities such as hospitality, residential, office and retail spaces. D3 will comprise a waterfront development stretch of 1.8km which will be populated with hotels, retail outlets, a multi-use outdoor space and food and beverage outlets. D3 is located adjacent to Business Bay in Dubai and close to Mohammed Bin Rashid City. The Dubai Design District is situated behind Dubai Mall and Burj Khalifa and beside the Dubai Creek.
D3 offers three company formation types:
1. Free Zone Limited Liability Company (FZ-LLC)
A Free Zone LLC is established as a separate legal entity, with shareholders as individuals and Corporates.
The minimum capital requirement for Free Zone incorporation is AED 50,000, depending on the business activity.
FZ-LLC license types:
- Natural Individual
- Corporate Entity
- Natural and Corporate Individual(s)
- 1-50 shareholders
- Minimum share capital requirement for each shareholder: AED 1,000 (USD 273)
- Value of each share: AED 1,000 (USD 273)
2. Freelance Permit
The permit provides the ability to function as a freelance professional and identifies the individual as a sole practitioner. The business name can be conducted on the individual’s birth name.
3. Branch of a Company
Branch of a UAE or foreign company is not a legal entity separate from its parent. It manages the operations inherent in the business of the parent. There is no share capital requirement for a branch company.
Branch company license types:
- Branch of a UAE company
- Branch of a Foreign company
Characteristics of a Branch company
- Fully owned by parent company
- Parent company has the same name as the business
- Parent company conducts the same activities as the business
Types of Licenses issued by DAFZA
The types of licenses offered for company formation in DAFZA are:
- Trade License
To perform trading activities as stated in the License
- Service License
To perform service activities as indicated in the License
- Industrial License
To perform light manufacturing activities as specified in the License
Advantages of forming a Dubai Airport Free Zone
- 100% foreign ownership, no Emirati sponsorship required
- Quick company formation and licensing processes
- Exempt from corporate taxes for 50 years
- Low cost of operations
- Straightforward recruitment and liberal labour laws
- Exempt from personal income tax and capital gain taxes for 50 years
- No currency restrictions
- Exempted from import and export duties for 50 years
- 100% repatriation of capital and profits