How To Setup A Company In Dubai Silicon Oasis Free Zone
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Are you planning to set up a company in Dubai Silicon Oasis Free Zone? It can be an exciting yet daunting process, especially if you’re unfamiliar with the local laws and regulations. This guide will walk you through the steps of setting up a company in Dubai Silicon Oasis Free Zone, including the legal requirements, the different types of licenses available, and the benefits of setting up your business in this thriving tech hub.
Dubai Silicon Oasis (DSO) is a technology park and free zone located in Dubai, United Arab Emirates. It is home to over 1,000 companies and is recognized as one of the leading technology hubs in the region. Setting up a company in DSO is a popular choice for entrepreneurs and businesses due to its strategic location, business-friendly environment, and tax benefits.
Legal Requirements
Before you start the process of setting up your company in DSO, you need to be aware of the legal requirements. Here are some of the key requirements:
Business Plan
You need to prepare a detailed business plan that outlines your company’s objectives, products or services, marketing strategy, and financial projections.
Company Name
You need to choose a unique name for your company that is not already registered in DSO or in the UAE.
License
You need to obtain a valid license for your business activity. There are different types of licenses available in DSO, including a commercial license, industrial license, and service license.
Shareholders
You need to have at least one shareholder for your company, who can be an individual or a corporate entity.
Local Sponsor
If you’re setting up a company with 100% foreign ownership, you need to appoint a local service agent or sponsor who will assist you with the administrative procedures and paperwork.
Types of Licenses
DSO offers three types of licenses for businesses:
This license is suitable for companies engaged in trading activities such as buying and selling goods or services.
This license is suitable for companies engaged in manufacturing, production, or industrial activities.
Service License
This license is suitable for companies engaged in providing services such as consulting, legal, or accounting services.
Benefits of Setting up a Company in DSO
Here are some of the key benefits of setting up your business in Dubai Silicon Oasis Free Zone:
100% Foreign Ownership
Foreign investors can own 100% of their companies in DSO, without the need for a local partner.
Tax Benefits
Companies in DSO enjoy tax exemptions on corporate income, personal income, and import and export duties.
Strategic Location
DSO is located near Dubai International Airport, Dubai World Central, and Jebel Ali Port, providing easy access to global markets.
Business-Friendly Environment
DSO offers a supportive business environment with streamlined procedures and a range of services to assist companies with their operations.
Steps to Setup a Company in DSO
Here are the steps involved in setting up a company in Dubai Silicon Oasis Free Zone:
Step 1: Choose a Business Activity
The first step is to choose a business activity that is suitable for your company.
Step 2: Choose a Company Name
Choose a unique name for your company that is not already registered in DSO or in the UAE.
Step 3: Apply for a License
Apply for the appropriate license for your business activity.
Step 4: Register Your Company
Register your company with the DSO authority and obtain the necessary approvals.
Step 5: Get Your Visa
Apply for your visa and the visas of your employees.
Step 6: Open a Bank Account
Open a bank account in Dubai for your company.
Conclusion
Setting up a company in Dubai Silicon Oasis Free Zone can be a great opportunity for entrepreneurs and businesses looking to establish themselves in the region. With its strategic location, business-friendly environment, and tax benefits, DSO is a popular choice for tech startups and other companies.
To set up your company in DSO, you need to be aware of the legal requirements, the different types of licenses available, and the steps involved in the process. By following the guidelines outlined in this article, you can ensure a smooth and successful setup of your company in Dubai Silicon Oasis Free Zone.
If you have any further questions or need assistance with setting up your company in DSO, feel free to contact BizzSetup, a leading business setup consultancy in the UAE.
