Established near Al Ruwayyah, Dubai Academic City is the world’s largest free zone dedicated to education. Dubai Academic City was developed by Tecom Investments in 2007 and its main purpose is to develop the Emirates’ workforce and set up the grounds for a knowledge-based economy. Dubai Academic City is the first free zone dedicated to higher education. Dubai Academic City hosts many international branch companies and around 25,000 foreign students. There are over 400 higher education programs available for students in the Academic City.
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Why set up a company in Dubai Academic City?
Dubai Academic City covers an 18 million square kilometers area and is home to 25 academic international academic institutions. Apart from the skilled and educated workforce foreign investors will benefit from when opening a company in Dubai Academic City, there are other advantages, such as in other free zones. Businessmen will be allowed to set up 100% foreign owned companies and 100% tax exemptions from the personal income and corporate taxes for 50 years. They will also benefit from customs duty exemptions. Other benefits for foreign enterprisers in Dubai Academic City are:
- modern infrastructure,
- access to modern technology systems,
- support for company registration,
- quick and simple company incorporation procedures,
- business-friendly atmosphere,
- simple visa proceedings.
For company registration in Dubai Academic City, you may rely on agents in Dubai.
Company licensing regulations in Dubai Academic City
Business licenses in Dubai Academic City are released by the Dubai Creative Clusters Authority, that issues documents for the following types of companies:
- free zone limited liability companies,
- branch offices.
The minimum share capital for establishing a free zone limited liability company in Dubai Academic City is 50,000 AED, but there are no minimum capital requirements for setting up branch offices. Individuals may also apply for freelance permits, if establishing sole traders in Dubai Academic City. All licenses have an one-year validity period and may be renewed.
Dubai International Academic City
Dubai International Academic City (DIAC) lies in the northeastern side of the Dubai Academic City. Also known as the Dubai Knowledge Universities (DKU), it covers approximately 22% of the total area dedicated to the Dubai Academic City Free Zone. The Dubai International Academic City is an educational free zone which resembles the Dubai Knowledge Village. Some of the most important universities in the United States, the United Kingdom and other Asian universities have establishments in the Dubai International Academic City.
Business services in Dubai International Academic City
Dubai International Academic City is the largest free zone in the world dedicated to education institutions. With a large number of international branch campuses, the Dubai International Academic City keeps attracting many foreign investors. They may operate in the Dubai International Academic City in the following sectors:
- academic and non-academic service providers,
- online universities,
- educational service providers,
- as sole traders,
- boarding and branch schools.
However, they may also apply for general business licenses, such as insurance service providers, consultancy services and commercial developers. Enterprisers may also set up travel agencies in the Dubai International Academic City. The available types of business vehicles available for incorporation in DIAC are:
- free zone limited liability companies,
- branch offices of foreign or national companies,
- sole traders.
For information about registration requirements for each type of company, you may request the services of our company incorporation agents in Dubai.
Documents for opening a company in DIAC
In order to set up a company in DIAC, investors must submit the following documents with the Dubai Creative Clusters Authority. The required documents are:
- an application form for the business license,
- a business plan,
- the Dubai company’s incorporation certificate,
- copies of the shareholders’ and directors’ passports,
- the proof of the payment for the required registration fees.
For details about all licensing requirements, you may contact our company incorporation agents in Dubai.