Company formation in Dubai International Academic City (DIAC):
The Dubai International Academic City (DIAC) is a member of TECOM Investments. However, the free zone is regulated by the Dubai Development Authority. The DDA oversees the key processes associated with business setup in Dubai International Academic City such as license issuance, license renewal, and liquidation.
The main vision of Dubai International Academic City is to be a global centre for higher education providers to support and develop the United Arab Emirates. Currently, it is one of the largest higher education free zone in the world. Dubai International Academic City has played a commendable role in placing Dubai at the top of the global education map.
The free zone has brought the leading international and regional universities from Australia, the UK, India and other parts of the world to Dubai. The free zone will create a global academic destination that provides all institutions housed in it with opportunities for communication, experience-sharing to utilize the latest technologies and processes.
Dubai International Academic City (DIAC) is an educational hub overflowing with lucrative business opportunities.
Company Structures at Dubai International Academic City (DIAC):
- Free Zone Limited Liability Company (FZ-LLC)
- Branch of an existing company
- Branch of a Foreign Company
- Sole Traders
Types of Licenses Available for Dubai International Academic City (DIAC) Company Registration:
- Academic/educational institutions
- Non-academic enterprises
- Online universities
- sole traders/proprietors and
- International branch and boarding schools
Business Activities Permitted in Dubai International Academic City (DIAC):
- Academic and non-academic service providers
- Online universities
- Educational service providers
- Sole traders
- Boarding and branch schools
- Early learning centres
Facilities offered at Dubai International Academic City (DIAC):
- Executive Desk
- Executive Offices
- Commercial Space
- Land Plots
Advantages of Company Set up in Dubai International Academic City (DIAC):
- Full ownership of companies
- The company set up process is easy, straightforward and fast.
- World-class infrastructure
- Networking opportunities
- Unique cluster environment
- Ideal academic and business-friendly environment
- 100% tax exemption
- No currency restrictions
- No limit on capital repatriation
- No restriction on foreign talent or employees
- Onsite customs and One-Stop Shop for all Services
Documents Required to Register Company in Dubai International Academic City (DIAC):
- Company registration and licensing application form
- Profile details of shareholder(s)
- Passport copies and specimen signature of each director and general manager
- Original Memorandum of Association (MOA) and Articles of Association (AOA)
- Board resolution for creating a free zone entity
- Detailed business plan
- Proof of share capital requirement
- Specimen signature of the manager and the director
- No-Objection Certificate (NOC) from residency visa sponsor
- All other free documentation to be completed at the time of business setup
Steps to be followed on registering the company in Dubai International Academic City (DIAC):
- Register your trade name with the registry and obtain a Certificate of Registration
- Fill in an application form and submit to receive an initial approval
- Submit the required documents for company registration in DIAC
- Draft and sign a Memorandum of Association
- Deposit a share capital after opening a business bank account
- Sign the lease and personnel sponsorship agreement
Cost of setting up a company in Dubai International Academic City (DIAC):
The cost of the licence for business set up in Dubai International Academic City would start from approximate AED 15,000 however, it may depend on other requirement such as your location, business activities, company size and other operational costs.
To make it easier, once you have your business plan ready in your hand, you can always take help from the expert business setup consultants in Dubai UAE, who will help you with every step of the process, from choosing a business activity and company name to registering with the relevant authorities, easily opening corporate bank accounts and processing visa applications.
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