Dubai Healthcare City Free Zone
Dubai Healthcare City Free Zone (DHCC) was established in 2002 and it is an economic free zone offering high-end healthcare services and also development possibilities for foreign investors through its foreign investment incentives.
The Dubai Healthcare City Authority
The Dubai Healthcare City Authority supervises the DHCC Free Zone and establishes the rules and regulations to be followed. The Dubai Healthcare City Authority has four departments:
- The healthcare department
- The education and research department
- The investment department
- The regulatory department
Registration and licensing of companies in the Dubai Healthcare City Free Zone:
Registration and licensing of companies is possible in the DHCC through the Registration and Licensing Department in the Dubai Healthcare City Authority. The department is made up by the Company registry unit and business licensing unit.
The Company registry unit is in charge with:
- The incorporation process of free zone limited liability companies (FZ-LLC), branch offices of UAE companies and branch offices of foreign companies
- Keeping and updating the companies register and the shareholders and directors register
- Verifying that the free zone and the Dubai legislations are respected by the DHCC companies
The business licensing unit issues the commercial licenses that enable companies to establish in the Dubai Healthcare City Free Zone. The commercial license is released for an year and can be renewed yearly.
Requirements for company incorporation in the Dubai Healthcare City Free Zone
Free zone limited liability companies and branch offices of both UAE and foreign companies can obtain commercial, medical and service licenses. They can have at least one shareholder and two directors. The start-up share capital for setting up a Company depends on the type of license the company requests and must be paid upon the incorporation of the Company.
The minimum value of a share must be 1,000 AED. The Company must also have a manager and the shareholder must live in the free zone or have a representative of the Company living in DHCC. The company is also required to have an auditor and hold a general meeting of the shareholders once a year.
Depending on the type of Company, the following documents must be provided upon the registration of the company:
- For a limited liability Company that has one shareholder, he/she must submit the business activity to be carried, a statement appointing the manager or representative of the company through power of attorney, a specimen of signature and a passport copy and a bank account statement as proof of depositing the share capital
- For a limited liability Company that has a corporate shareholding structure: a resolution stating the participation in the Company, the nomination of the negotiator, manager and representative and the certificate of incorporation and articles of association of the parent Company
- For branch offices: the certificate of incorporation, the articles of association, the specimen signature, a passport copy and a power of attorney for the branch offices manager must be provided together with the statement deciding the registration of the branch in DHCC
Incentives for Company incorporation in Dubai Healthcare City Free Zone
DHCC companies benefit from:
- Full exemption from income and corporate taxes for 15 years
- Foreign investors are allowed to fully own and control the Company
- There are no customs duties
- Administrative support from the Dubai Healthcare City Authority
- Many and varied business opportunities
- Competitive rates for real estate purchases
- Skilled labor force
If you want to open a Company in Dubai and want details about the Companies Law, you can contact our specialists in Company incorporation at Quantum Auditing.