Dubai Internet City |
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Dubai Internet City company formation is ideal for International entrepreneurs who specialize in IT services and who wish to gain access to the Dubai, UAE and regional Middle East markets. The majority of investments to date in Dubai Internet City has been IT, software development, business services, web-based and e-commerce services, consultancy, sales and marketing related. The following is an overview of the advantages and disadvantages of Dubai Internet City company formation, and Healy Consultants' capabilities. |
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Advantages of Dubai Internet City Company Formation |
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| 1. | Foreign investors can take 100% foreign ownership of a Dubai Internet City company. Most entrepreneurs set up either i) a branch of a foreign company or ii) a Free Zone Limited Liability Company (FZ LLC) to conduct legally tax-exempt international operations. |
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| 2. | In addition to no corporate tax, there is no personal income tax in Dubai. Furthermore, capital and profits can be repatriated from the UAE without restriction. There are no import or export duties on goods entering or leaving Dubai Internet City. |
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| 3. | A Dubai Internet City company is freely able to conduct business within Dubai and the UAE. |
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| 4. | It is not necessary for a Dubai Internet City company to complete annual financial statements, thus making it a simple and cost effective company to maintain. |
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| 6. | Healy Consultants assists our clients set up a Dubai Internet City company and supporting corporate bank account without them needing to travel to Dubai. Our staff handle all formalities, including: |
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i) |
Preparing business license application documents |
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ii) |
Drafting a business plan outlining the company's intended activities, market forecasts and financial projections for submission to the DIC authority |
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iii) |
Preparing a bank account opening application with a leading international retail bank such as HSBC, Standard Chartered or Citibank. |
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Disadvantages of Dubai Internet City Company Formation |
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| 1. | Dubai Internet City has a minimum capital requirement of Dhs50,000 (US$14,000), which must be paid up during incorporation, and a minimum share value of Dhs1,000 per share. |
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| 2. | Dubai Internet City company formation takes up to four weeks to complete due to time consuming license approval processes. |
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| Contact Us | |||||||||||||||||
For additional information on Dubai Internet City, email email@healyconsultants.com or call us at (+65) 6735 0120 |
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Back to Dubai Company Formation page. |
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Buy Healy Consultants' Asia Business Set Up book, to order call +65 6735 0120 or e-mail email@healyconsultants.com
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