Dubai Internet City (DIC) was founded in 1999 by Dubai Holding group and commenced operations in 2000 as an information technology park established by the Dubai government. DIC provides an economical and strategic platform for Information and Communications Technology (ICT) companies. Numerous well-known international ICT establishments including Google, 3M, HP, Oracle, Siemens, Microsoft, IBM, Cisco, Canon, Dell, and various small and medium organisations established their regional foundation in DIC.
Dubai Creative Clusters Authority (DCCA) formerly known as Dubai Technology & Media Free Zone Authority (DTMFZA) is the responsible authority for registration and establishment of businesses in Dubai Internet City.
Types of Companies that can be formed in Dubai Internet City (DIC)
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.
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.
Benefits of forming a DIC Company
- Full foreign ownership
- No income taxes
- Complete repatriation of profits and capital.
- No corporate tax
- No personal tax
- Easy incorporation process
- IT networking and business interaction opportunities
- Affordable rates for high-speed data
