Dubai rose to fame in the information technology sector when global IT giants moved their regional base to the Dubai Internet City. This free zone came into existence in 2000 to provide companies with an opportunity to establish a regional presence in the emerging markets of the Middle East and North Africa. Over the years, numerous IT companies have set up branches in the free zone with the view of taking advantage of the 50-year exemption from corporate, income and customs tax.
The liberal regulations pertaining to company formation in Dubai Internet City free zone and operation and management of companies have also aided in facilitating cordial business relations and transforming the free zone into the largest ICT hub of the region. Further, the location of the free zone on the Sheikh Zayed Road is considered as one of the most exclusive destinations in Dubai.The Dubai Internet City Free Zone boasts a high quality of infrastructure and is certainly a right choice for IT firms and investors considering company formation in Dubai Internet City.
The Dubai Creative Clusters Authority is the governing body that is entrusted to overlook the registration and licensing of companies in the Dubai Internet City. There are four (4) types of licenses that are issued to companies in the free zone, namely, i) software; ii) internet and multimedia; iii) telecommunications and network, and iv) IT services. Further, details pertaining to the types of legal structures, documents required, facilities, a list of activities, company formation timeline, license fees, modalities involved in business setup and share capital requirements and other aspects dealing with company formation in Dubai Interrnet City are detailed in the menu appearing on the right side of this text.
Dubai has experienced a front seat view of the rise of information technology sector in the past decade due to the plethora of new entrepreneurs and existing international IT companies in the free zone. The Dubai Internet City offers various kinds of leasing solutions to the investors in order to adapt to their requirements. Investors looking to set up a regional base in the free zone are also provided with the opportunity of leasing out tailored land plots to create their own offices. The unparalleled business environment and modern corporate culture serve as a home ground for companies looking to establish themselves in the region's IT arena.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.