Dubai Technology and Media Free Zone
Dubai Technology and Media Free Zone usually abbreviated as DTMFZ is a free zone that consists of nine business parks. These business parks are part of TECOM Investments, and the business parks operate as different entities. The DTMFZ Authority is the primary regulator of the free zone. It is responsible for developing and implementing regulations which comply with global standards. Dubai Technology and Media Free Zone is also tasked with ensuring that the companies in the free zone in Dubai can operate efficiently.
The DTMFZ Authority have divided the free zone into four clusters:
- The media cluster,
- The education cluster,
- The information and communication (ICT) cluster,
- The sciences cluster.
In the year 2003, the DTMFZA enabled the Technology and Media Free Zone Companies Regulations which applies to other free zones. Among these free zones included the Dubai Internet City, the Dubai Outsource Zone, Knowledge Village, and Dubai Studio City.
Licenses issued by the Dubai Technology and Media Free Zone Authority
According to the DTMFZA regulations and standards, each type of company in Dubai will be issued a business license in accordance to the cluster it belongs. The categories of licenses issued by the DTMFZA have been categorized under different segments in which each segment contains an established number of activities. The types of licenses issued by the DTMFZA in Dubai include the following.
- The free-zone limited liability companies licenses which are under the publishing segment,
- Licenses under the broadcasting TV and radio segments,
- Licenses on the food segment,
- Licenses for the storage activity segment,
- Licenses under the manufacturing and productivity segment,
- Licenses under the higher education provider segment
Every category of companies registered in the Dubai Technology and Media Free Zone are subject to particular requirements which include; a minimum number of shareholders and minimum capital requirements. Our specialists in Dubai may provide you with all the relevant information for company registration in DTMFZ.
Advantages of opening a company in DTMFZ
One of the significant benefits of setting up a company in the DTMFZ in Dubai is the diverse range of licenses that are available for company incorporation in Dubai. Investors in the Dubai free zone may set up companies that are 100% foreign owned. On the other hand, there are no personal or corporate taxes levied on the companies in the Dubai free zone for 50 years. Another tax advantage in the Dubai free zone is the full repatriation of capital and profits. Moreover, customs duties for both goods and services do not exist in the Dubai free zone.
For assistance and more information on opening a business in DTMFZ, please contact our experts in company incorporation in Dubai.