Launched in 2004 and built somewhere “in the middle of the desert” at the time, Dubai Industrial City (DIC) is now one of the largest business hubs dedicated to the manufacturing industry in Dubai. Now, the free zone is called Dubai Industrial Park and during the years it has suffered multiple changes in the regulatory environment to come with attractive offers for foreign investors. In 2012, Dubai Industrial City became the first free zone to offer land for sale outside the free zone to foreign investors. However, these are not the only incentives for overseas entrepreneurs, as the taxation of companies in Dubai Industrial City is quite advantageous.
Our Dubai company formation agents can assist foreign investors seeking to open a company in DIC.
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 taxation in Dubai Industrial City, please contact our company incorporation representatives in Dubai. You can also rely on us if you want to open a company in Dubai.