BUSINESS SET UP IN DUBAI SILICON OASIs

30/12/2017 Financial & Legal Services

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Description



Dubai Silicon Oasis (DSO) is a technology park and it provides both a living and working integrated community. Dubai Silicon Oasis Authority (DSOA) provides a full package of incentives and benefits to companies operating within the tech park.
AUTHORITY:
Dubai Silicon Oasis Authority (DSOA) is fully owned by the Government of Dubai.AIM:
To facilitate and promote modern technology-based industries, thus supporting the regions demand business expansion.
BENEFITS:
• 100% foreign ownership
• 100% repatriation of capital
• Access to all the technical & engineering professionals
• Low cost of operations
• Avant-garde IT infrastructure & facilities
• DSOA has easy access to all of Dubai & UAE
• Fast-track business set-up & licensing
• Dedicated business support services

TYPES OF ACTIVITY:

• Information technology
• IC design
• EDA tools
• IP protection
• IT services
• Telecommunications equipment
• Electronic and computer hardware
• Software development
• Consultancy and business development
• Electrical appliances
• Electrical equipment
• Engineering related to technology
• Logistics
• IT Security
• Talent development and recruitment
• Pharmaceutical
• Microelectronics
• General activities

TYPES OF LICENSE:
1. Trade license,
2. Service license,
3. Industrial license.
Note:License of the company has to be renewed on annual basis. if thelicense is renewed after expiry date then thepenalty would be charged by the authority.
COMPANY TYPES:
1. Free Zone Company (FZCO),
2. Free Zone Establishment (FZE),
3. Branch company.
FREE ZONE COMPANY (FZCO):
Shareholders can be either individuals or corporate entity.
A minimum share capital:The minimum share capital is AED 100,000.
FREE ZONE ESTABLISHMENT (FZE):
The shareholder can either be an individual or a non-individual/corporate.
A minimum share capital:The minimum share capital to establish an FZE is AED 100,000.
BRANCH COMPANY:
A branch company established either in UAE or foreign country. The activity of the branch company is required to be identical to the activity conducted by the parent company.
A minimum Share capital:There is no minimum share capital to establish a branch.
DIRECTOR:
Directors must be an individual only.
AUDIT:
The audit report is required to be submitted to free zone authorities.
REQUIRED DOCUMENTS INCLUDE:
Individual applicant:
• Application for Registration
• specimen signatures
• Personal KYC
• Board Resolution calling for the establishment of the entity
• Proof of share capital from a bank and routine documentation.
Corporateapplicant:
• Application for Registration,
• Corporate KYC - attested from the UAE Embassy,
• Board Resolution calling for the establishment of the entity,
• Certificate of Incorporation,
• Memorandum of association,
• Articles of association,
• Other routine documentation viz. application forms, specimen signatures etc.
Branch of a foreign company or UAE company:
• Application for registration
• Business Plan
• Letter from the parent company for the appointment of Manager.
• Company profile
• Board Resolution calling for the establishment of a branch
• Certificate of Incorporation,
• Memorandum of association,
• Other routine documentation viz. application forms, specimen signatures etc.

We at MSZ Consultancy are specialized in all the free zones and we can assist you to incorporate your company. For further information on Dubai Silicon Oasis, contact us: 00971589827842or Email us: info@mszconsultancy.com visit: http://www.mszconsultancy.com

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