Dubai Industrial City (DIC) is the main free zone in Dubai catering to the needs of manufacturing companies. Dubai Industrial City was set up in 2004 and recently was renamed Dubai Industrial Park. The free zone now offers investment possibilities to foreign enterprisers in the manufacturing sector who want to fully own a company in the UAE. Investors interested in opening a company in Dubai Industrial City will benefit from very advantageous tax conditions.
Our company registration agents in Dubai can offer more information on investing in Dubai Industrial Park.
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What are the types of companies to be set up in Dubai Industrial City?
Individuals and corporate entities can establish limited liability companies in Dubai Industrial Park. Foreign companies are also allowed to register branch offices or enter into joint ventures with companies in Dubai Industrial City.
The industries available for opening a company in DIC, aside from the manufacturing cluster, are:
- food and beverages.
Manufacturing companies in Dubai International Park can process minerals, metals and even chemical products.
The following licenses are available for those who want to establish a company in Dubai Industrial City:
- an industrial license;
- a trading license;
- a commercial license.
The minimum share capital required to establish a limited liability company in Dubai Industrial Park is 300,000 AED.
Company registration in Dubai Industrial Park
In order to set up a company in DIC, one must follow the same regulations applicable when opening an onshore company in Dubai. The owner must select a company name, prepare the Memorandum and Articles of Association and together with the details of the managers submit them with the DIC Authority. Based on these documents, the company will be issued the certificate of registration and the business license.
Dubai Industrial Park now encompasses 6 zones where companies can operate. Each zone is dedicated to a specific activity, as it follows:
- the food and beverages area;
- the chemicals area;
- the base metal area;
- the transport area;
- the machinery area;
- the mineral production area.
Are there any company taxes in Dubai Industrial City?
As all the other Dubai free zones, Industrial Park also has its own authority which provides to the establishment and taxation of companies here. It is also known that foreign investors set up companies in Dubai Industrial City because of the tax exemptions it offers to companies and their shareholders. Companies registered in Dubai Industrial Park will benefit from the following tax advantages:
- no personal income tax;
- no corporate tax;
- no capital repatriation taxes;
- no import duty.
Our company registration consultants in Dubai can offer more information on the taxation of companies in Dubai Industrial City.
Tax agreements in Dubai Industrial Park
The UAE has signed various free trade agreements with the countries belonging to the Gulf Cooperation Council and the Middle East and North Africa (MENA) region which grant companies in DIC free access to these markets.
Companies in Dubai Industrial City may also benefit from the double tax treaties the UAE has signed with a large number of countries which provide for numerous tax exemptions and deductions available for the foreign shareholders of these companies. Through foreign shareholders, one should understand both individuals and corporate entities.
For full information on how to open a company in Dubai Industrial City free zone, please contact our Dubai company formation representatives.