dubai industrial city dic free zone
- Author- Dubai Visa Online
- Publish Date-
DIC or Dubai Industrial City is also known as the Dubai Industrial Park. This Free Zone in Dubai is located near the Jebel Ali International Airport. It was founded in 2004 and 2015 it was completed. The DIC is grounded over an area of 560 million sq. ft. which hosts more than 200 companies. The companies are in the dimensions of base-metals, warehouses, transportation zones, food and beverage, and also the extensive conservation zone with education, logistics, and other facilities as well.
The DIC is said to be the hub for all the investors all across the globe who have the aim to ace the global markets. It is also said to be a member of the TECOM Investments and also the largest ICT (Information and Communications Technology) hub in the region of North Africa (MENA) and the Middle East. The DIC or the Dubai Industrial Park is also under the jurisdiction of the DTMFZA i.e. Dubai Technology and Media Free Zone. Also, as we know already that the Dubai Free Zone is a base for the huge MNC’s among the best companies like LinkedIn, Facebook, etc. DIC provides you the best facilities and the locations which help you to set up the industrial company and breed your growth by many folds in the region.
Benefits of Dubai Industrial City (DIC) Free Zone:
100% return on the profits and the capital investments of the business.
100% Foreign Ownership.
No liability of Income Tax and Corporate Tax.
The imports of the equipment, raw materials, and machinery for the production are duty-free.
Great opportunities for the Industrial Sector.
Advanced and high-end IT Infrastructure.
Tariff-free access given to you to the Gulf Cooperation Council (GCC) and MENA markets for all the manufacturers which adds the 40% value locally, which is also a result of the UAE's Free Trade Agreement.
It has the world's largest IP Telephonic network.
Well structured environment
No bureaucratic red tape.
Flexible business laws.
All business amenities are available under a single roof.
The skilled labor and multilingual employees available as well.
Visa facility and 24/7 security.
Types of Licenses Available in Dubai Industrial City Free Zone:
Trading License: Allows you for activities like buying, selling of goods, storage of goods, etc.
Service License: All the businesses which are in services like auditing, accounting, management, consulting, and other professional services should have their Service License before they start-up in DIC.
Industrial License: It is the most important license in DIC which allows the owners to perform the manufacturing activities.
Commercial License: allows you to perform commercial activities in DIC.
Types of Legal Entities in Dubai Industrial City Free Zone:
Free Zone Limited Liability Company (FZ-LLC):
- It should have at least 1 director.
- The shareholders can be any individual or any corporate person.
- AED 50,000 would be the minimum capital requirement.
Branch of a Local Registered Company a Foreign Company:
- It allows you to conduct the activities of the parent company in another city or country.
- In this no minimum capital is required.
What is the process to set up business in Dubai Industrial City Free Zone?
There are mainly 6 locations for you to finalize your company location in the DIC:
Base Metal Zone
Machinery and Equipment Zone
Mineral Products Zone
Transport Equipment and Parts Zone
Food and Beverage Zone
Process to set up business in Dubai Industrial City Free Zone
- First you need to contact the Business Park person and then you need to submit the application form with the required documents.
- The required documents include the License Application Form, Passport Copy of the manager & directors & shareholders & legal representative of your company, and your Business Plan.
- After sending the legal documents to the business park person for the legal registration of the company, you will get the authority to issue the customer details of the company, office, payment, and the customer confirmation letter.
- Then you need to sign the customer confirmation letter and then again send that back to the authorities for the proper review. Then you’ll also pay the required fees.
- After this the Department of Registration and the Licensing in that Free Zone will review your documents and then they will issue you the MOA and AOA and the bank introduction letter.
- You need to sign the MOA (Memorandum of Association) and AOA (Article of Association).
- Then you need to open a banned account in the name of your company and then deposit the share capital in that and then finally submit the proof of the letter that is issued by the business park person.
- After the submission of proofs and other details, your lease and the business license will be prepared well by the Free Zone Authority. The Certificate of Incorporation will then be issued by the authority only.
- After the same the registrar will sign the MOA and AOA of your company.
- Your Lease agreement would be provided by TECOM.
- Then the final step for this is signing the lease agreement and then also collect your license from the authority with the keys to the office which is allotted by the TECOM Security.