Located in the middle of Dubai’s industrial zone, Techno Park’s development was decided several years ago and was dedicated to companies operating in the manufacturing industry. Currently, the Dubai Techno Park is under construction. The main purpose of authorities is to provide foreign and local investors a modern infrastructure and facilities for opening manufacturing and industrial companies in Dubai. Some of the greatest technology, oil and gas companies in the world have already started operating in Dubai Techno Park. Even if Techno Park is considered a free zone, the companies established there benefit from the same treatment as onshore companies in Dubai. The main advantages of these companies are that they must not pay any customs duty when exporting their goods and services outside Dubai Techno Park.
Types of companies available in Dubai Techno Park
There are several types of companies available for registration in Dubai Techno Park. Among these are:
- limited liability companies,
- sole establishments,
- civil companies,
- branch offices.
Limited liability companies in Dubai Techno Park are required to have at least two shareholders and the total number must not exceed fifty. Also, a foreign investor must have an UAE citizen as a partner in the limited liability company. Sole establishments can be registered by UAE individuals only.
Foreign investors may open civil companies in the Dubai Techno Park and must obtain a professional license before starting operating. Civil companies may be registered according to the Federal Civil Transactions Act and may also take the form of civil partnerships. Another type of company fully owned by foreign businessmen is the branch office.
Business licensing in Dubai Techno Park
There are three types of business licenses available for companies operating in Dubai Techno Park. These are:
- the trading license,
- the industrial license,
- the professional license.
The trading license is for Dubai companies carrying out import, export, storage and distribution activities. Industrial licenses are available for companies carrying out manufacturing and assembling products, while professional licenses are granted for specific professional activities, such as consultancy.
For setting up a company in Techno Park, you may contact our company incorporation agents in Dubai for assistance.