How to set up a business in Dubai Silicon Oasis Free Zone?
Dubai, the trading hub of the United Arab Emirates, comes to mind immediately when an expatriate investor considers starting a new firm or expanding an existing one overseas. The advantages for entrepreneurs of choosing the emirate for establishing a firm are numerous, just like the business prospects that Dubai provides to the rest of the globe. Whether you want to create a retail store, a perfume business, an event management company, an accounting and auditing company, a real estate company, or an e-commerce business, Dubai Silicon Oasis will not let you down.
An Overview of Dubai Silicon Oasis Free Zone
Dubai Silicon Oasis (DSO) was founded in 2004 by the Dubai government and is known for its outstanding engineering, development, and technology. The Dubai Silicon Oasis is the UAE’s only technological park with both a working and living population. This free zone’s corporate facilities and living flats have a modern design, providing investors with a one-of-a-kind option.
How can you start a business in the Dubai Silicon Oasis Free Zone?
To start a business in Dubai Silicon Oasis, follow the steps outlined below:
- Completion of Activities
Make a list of all the business operations you want to do in the free zone and select the one which is most appropriate.
- Acquire a business title
Your DSO company’s next step is to acquire a trading name. Make sure you choose a distinctive name and stick to the naming protocols.
- Office Facilities
Obtain office space for your business, or contact with business set up consultants for inexpensive locations in the DSO.
- Complete documentation
To fulfil the compliance standards, submit the documents and papers. Additionally, paperwork is necessary for confirming your identification and evaluating your company strategy.
- Submit an Application for a License
Once you’ve completed the preceding procedures, you may apply for the necessary license. All you have to do now is contact the Dubai Silicon Oasis authority and fill out an application.
Benefits of Dubai Silicon Oasis Free Zone
The Dubai Silicon Oasis has a variety of incentives and amenities to help investors with their business requirements. These are some of them:
- Capital repatriation in its entirety
- Exposure to a regional database of scientific and technological experts
- Integrated online e-Business system that provides tenants with quick and appropriate services
- Affordable operational cost
- Foreign ownership is 100 percent
- The quick speed with which you may start a business and obtain a license
- IT infrastructure and services that are cutting-edge
- Residential and commercial areas that are trouble free
- This is a strategic business location that links major financial centers
Different Types of Licenses
Businesses can engage in a number of activities that fall under different licenses from the DSOA.
- Industrial License
The registered entity can import raw materials, produce, handle, assemble, package, and export the completed product with this license.
- Service License
This allows the registered business to only perform the services that are specified.
- Trade License
This license allows the registered company to engage in operations related to the import, export, and distribution of commodities and products that are specified in the license.
- A special license (business operating license)
This is given to businesses that have previously registered with the Dubai Economic Department. These enterprises can function under a specific DSOA administrative jurisdiction thanks to the license.
Business experts in Dubai are anticipated to play a pivotal role in business setup companies in Dubai since they are the individuals who will offer you with the knowledge and services. Having an excellent understanding of Dubai silicon Oasis free zone business registration and licensing costs can greatly assist firms in developing a budget proposal.
The establishment of a company in the Dubai Silicon Oasis free zone follows a method that must be followed by businesspeople to have a legitimate business setup in Dubai Silicon Oasis. It is not recommended to treat business establishments in Dubai casually since it is a duty that must be handled with attention. As a result, prior to making your maiden effort toward business establishment, you should engage business setup experts in Dubai and have them provide you with the guidance you require.
Why Jumeira Consultants?
Jumeira Consultants’ business professionals will guide you through the process of forming a company in the free zone. We will recommend the most cost-effective and adequate solution for all your needs.