Dubai Industrial City (DIC Dubai) was established with the intention of accelerating the growth of the region and expand the industrial sector in the United Arab Emirates. To specifically attract potential players in small and medium manufacturing sectors – specifically on base metals, food and beverages, machinery and mechanical equipment, transport equipment and parts, logistics, workshops, mineral products, and chemical providing companies.
Dubai Industrial City is also sometimes known as Dubai Industrial Park and is located close to the Jebel Ali International Airport and right next to Al Maktoum Airport. Dubai Industrial City is a traffic-free city which proves to be beneficial for the transportation system of the company’s production. This city is directly connected to Emirates Road and Sheikh Mohammed Bin Zayed Road which enables easy access to global transportation points through air, road, and sea.
Dubai Industrial City Free Zone
Dubai Industrial City was established in the year 2004 and the construction of the City’s infrastructure was completed in the year 2015. The city is extended over the area of 560 million square, which shelters around 200 companies and other facilities like extensive conservative zone and education by now.
DIC Dubai attracts a lot of investors who mean to target the global business market. The City is the biggest hub of Information and Communications Technology (ICT) in the entire region of the Middle East and North America (MENA). DIC, or known as Dubai Industrial Park as well, comes under the jurisdiction of Dubai Technology and Media Free Zone (DTMFZA). DIC Dubai is a hub for giant MNCs which include big gun companies like LinkedIn and Facebook.
The main objective of DIC Dubai is to provide better opportunities, facilities, and location for Industrial companies in the region. DIC Dubai makes sure that the companies work efficiently and at their full capacity so they can meet the future needs of the economy.
Advantages Of DIC Dubai
The fact that the Dubai government established an entire free zone for benefiting the Industrial sector of the region is a prove of the government’s focus on developing the specific sector. The objective of the city is to bring betterment to the companies involved in manufacturing goods. The advantages of forming a company in DIC Dubai are as follows:
- 100% foreign ownership
- 100% repatriation of profits and capital
- No personal corporate or income tax
- Duty-free imports of equipment, machinery and raw material for the production
- Tariff-free access to the GCC and MENA markets for manufacturers adding 40% value locally
- Top-notch and advanced IT infrastructure
- DIC Dubai has the world’s largest IP telephonic network
- Availability of different business clusters and a well-structured environment
- Big opportunities for connections and networking and a dynamic international community
- No bureaucratic red tape and flexible business
- Simple company formation and availability of al basic facilities on one free zone
- Availability of skilled labor and multi-lingual experienced employees
- 24/7 security and visa facility
Types Of License Available In DIC Dubai
In order to form and operate a business in Dubai and any of its free zone, it is mandatory to obtain a license amongst one of the following according to the nature of the business:
Business activities such as selling or buying of goods, storage, and other activities of such sort and nature are legally allowed under a trading license
Firms that are required to have a service license to operate in DIC Dubai are the ones that provide services like consulting, accounting and auditing, management, and other professional services of the same sort
In order to carry out any commercial service in the Dubai Industrial City, one needs to obtain a commercial license
industrial license is the most commonly opted for in the Dubai Industrial City which is required by business owners who mean to carry out manufacturing businesses
Types Of Entities Allowed In DIC Dubai
Dubai Industrial City allows the following two types of company registration:
Branch Of A Local Or Foreign Registered Company
No minimum capital is required in the formation of a branch in DIC Dubai. A branch is set up to expand the operations and services of an already existing company into different areas, cities or countries.
Free Zone Limited Liability Company (FZ-LLC)
Free zone limited liability company only requires one director of the company. The shareholders of the limited liability company can be an individual or a corporate person. The minimum capital required to form an FZ-LLC in DIC Dubai is AED 50,000.
DIC Dubai incorporates a successful and group environment that allows companies to work at their full capacity in the city and penetrate in different sectors of the region. The city is further divided into 6 mini zones that make it easy for companies to finalize a location depending on the nature of their company. The free zones are:
- Food and Beverage Zone
- Transport Equipment and Parts Zone
- Machinery and Equipment Zone
- Mineral Products Zone
- Base Metal Zone
- Chemical Zones
How To Register A Company In Dubai Industrial City?
- The first step to forming a company in DIC Dubai is to contact the personnel at the Industrial City and submit the application form with other required documents. The documents needed to be submitted are license application form, business plan, passport copies of the manager, director, shareholders and legal representatives of the company.
- Then the legal documents of company formation are required to be sent to the sales park personnel. In return of which a customer confirmation letter and details of the company, payment, and office are issued from the relevant authority.
- The consumer confirmation letter is required to be signed and sent back to the authority for review along with making the payments that are needed at the moment. Following this, the free zone’s department of registration and license review other documents and issue an AOA, an MOA, and a bank introduction letter.
- The issued MOA, AOA and the bank introduction letter along with the attested resolution are required to be signed.
- Once a bank account has been allowed under the owner’s or the company’s name, open a bank account in the name of the company and deposit the share capital. Once that is done, the proof of the letter issued by the bank is required to be submitted to the personnel of the Industrial park.
- After the submission is done, the free zone authority prepares the company’s business license and lease. The authority also issues a Certificate Of Incorporation, following which the registrar can finally sign the seal the MOA and AOA of the company. The lease agreement for the company will be prepared by the TECOM Leasing Department.
- Once all of the documentation has taken place, the company’s owner can finally sign the lease agreement along with collect the license and keys from the authority and from the TECOM security department.