Dubai Academic City
Established near Al Ruwayyah, Dubai Academic City is the World’s largest free zone dedicated to education. Dubai Academic City was developed by Tecom Investments in 2007 and its main purpose is to develop the Emirates workforce and set up the grounds for a knowledge-based economy. Dubai Academic City is the first free zone dedicated to higher education. Dubai Academic City hosts many international branch companies and around 25,000 foreign students. There are over 400 higher education programs available for students in the Academic City.
Why set up a Company in Dubai Academic City?
Dubai Academic City covers an 18 million square kilometers area and is home to 25 international academic institutions. Apart from the skilled and educated workforce foreign investors will benefit from when opening a Company in Dubai Academic City, there are other advantages, such as in other free zones. Businessmen will be allowed to set up 100% foreign owned companies and 100% tax exemptions from the personal income and corporate taxes for 50 years. They will also benefit from customs duty exemptions. Other benefits for foreign Enterprises in Dubai Academic City are:
- Modern infrastructure
- Access to modern technology systems
- Support for Company registration
- Quick and simple Company incorporation procedures
- Business-friendly atmosphere
- Simple visa proceedings
For Company registration in Dubai Academic City, you may rely on specialists in Dubai.
Company licensing regulations in Dubai Academic City
Business licenses in Dubai Academic City are released by the Dubai Creative Clusters Authority, that issues documents for the following types of companies:
- Free zone limited liability companies
- Branch offices
The minimum share capital for establishing a free zone limited liability Company in Dubai Academic City is 50,000 AED, but there are no minimum capital requirements for setting up branch offices. Individuals may also apply for freelance permits, if establishing sole traders in Dubai Academic City. All licenses have an one-year validity period and may be renewed.
For details about all licensing requirements, you may contact our experts at Quantum Auditing.
