Dubai Silicon Oasis company formation process
Company registration can be done remotely regardless of if you are in the UAE or abroad, your company can be registered in 2-3 weeks. Dubai Silicon Oasis company formation starts with picking up of an office facility. It is better to view them to get a full understanding of the offers.
It is crucial to approach this question carefully, as choosing the wrong activity, registration authority, or location can lead to errors during company registration, creating problems with opening a bank account or getting a residence visa.
State the legal status of your company in the DSO free zone. It can be:
- LLC (Limited Liability Company)
- Branch of a foreign company
Dubai Silicon Oasis requires a minimal documentation package.
- Passport with a 6-month validity
- Photo
- Email address and residential address, as well as a mobile number
- Visa or the previous entry stamp to the UAE
This set of documents is required if a shareholder (shareholders) is (are) an individual(s). If the shareholders form a company, then they will need to provide notarized documents of the company:
- Memorandum and AoA
- Certificate of incorporation
- Trade license
After all the documents have been compiled and the necessary paperwork has been drafted, it is required to pay the necessary fees for the registration process to proceed with the application.
They include:
- Certificate of incorporation
- Trade license
- Lease agreement
- MoA and Articles of Association
Receive an establishment card that contains information about your company and makes it eligible to sponsor residence visas.
If you’re outside of the UAE during the processing of the entry permit, you will need to come to the country when the document is issued within 60 days to complete the medical test and biometrics for your visa. If you’re in the UAE when the entry permit is issued, a status change will be done from your previous UAE tourist/residency visa to the new one.
Undergo a medical checkup and submit documents for a residence visa. Different registration packages may provide for a varying number of visas available for owners and employees of the company.
Once your visa is issued, secure your Emirates ID card. The processing and issuance of a visa and Emirates ID usually take 5-7 working days after the visa approval.
Apply to a UAE bank to open a corporate bank account in one the UAE local or international banks.
With us you can navigate this process quickly and effortlessly. You don`t even have to arrive in Dubai — the registration procedure can be completed remotely. However, you will need to visit the UAE for medical checkups, visa formalities, and account opening.
- IFZA — International Free Zone Authority
- KIZAD — Khalifa Free Zone Abu Dhabi
- UAQ — Umm Al Quwain Free Zone
- SAIF — Sharjah Airport Free Zone
- RAKEZ — Ras Al Khaimah Economic Zone
- DMCC — Dubai Multi Commodities Centre
- MFZ — Meydan Free Zone
- DAFZ — Dubai Airport Free Zone
- SHAMS — Sharjah Media City Free Zone
- DIC — Dubai Internet City
- JAFZA — Jebel Ali Free Zone
- DWTC — Dubai World Trade Center Free Zone
- Hamriyah Free Zone
- RAK DAO — RAK Digital Assets Oasis
- DAZ - Dubai Auto Zone
- TECOM — Technology Electronic Commerce and Media Group
- SPC — Sharjah Publishing City Free Zone
- DTEC — Dubai Technology Entrepreneur Center Free Zone
- DMC — Dubai Media City Free Zone
- Dubai South — Dubai South Free Zone
- Expo City — Expo City Dubai Free Zone
- AMC — Ajman Media City Free Zone
- AFZA — Ajman Free Zone
- FCC — Fujairah Creative City Free Zone
- FFZA - Fujairah Free Zone Authority
- Company Formation in DUQE Free Zone
Dubai Silicon Oasis license cost
Below is the minimal cost of a license in Dubai Silicon Oasis. Office rent is mandatory when setting up a company in the Dubai Silicon Oasis free zone. The smallest office is 13,5 sq m. Payment for offices can be made via 4 post-dated cheques.
| ITEM | COST |
|---|---|
| License. 2 visa allocations | 12,000 AED |
| Office. 13.5 sq. m | 28,392 AED |
| Office 13.5 sq. m deposit | 2,704 AED |
Elena O.
We'll find the ideal free zone for your business
Dubai Silicon Oasis Company Formation
CEO, Emirabiz
Andrey Ovchinnikov
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Is Dubai Silicon Oasis suitable for your business?
Affordable setup for IT companies
Technological park with ready-made infrastructure
Residential area — work and live in one place
Yes
- If you have a startup in the IT sector, online services, industry, research, and development and plan to further develop and grow into a large company, Dubai Silicon Oasis has a subsidiary free zone called DTEC, where new businesses can affordably establish a company. After five years, they have to move to Dubai Silicon Oasis.
- If you have a large IT company and are looking for a suitable networking community and infrastructure, Dubai Silicon Oasis has a technology park with ready-made and fully equipped modern technology offices. This free zone hosts the offices of major IT companies.
- If you wish to work and live in one place, Dubai Silicon Oasis has residential buildings with a wide range of amenities that are home to 60,000 tenants.
- If you have a light manufacturing enterprise, Dubai Silicon Oasis has suitable facilities for it.
No
- There are no options available for freelancers in Dubai Silicon Oasis. You’d better look at DMCC Freelance License or Go Freelance by TECOM.
- If you engage in heavy manufacturing Dubai Silicon Oasis will not suit you because it does not have appropriate facilities. Instead, try UAQ Free Zone, JAFZA Free Zone, or Hamriyah Free Zone
Dubai Silicon Oasis licenses and business activities
Dubai Silicon Oasis offers the following types of licenses:
IT license in the UAE
Audit and Accounting License
Commercial Trade License in Dubai
Professional License in Dubai
Project Management License in Dubai
Foodstuff Trading Business in Dubai
Gold Trading License in Dubai
Open a Typing Center in Dubai
Consultancy License in Dubai
Guide to opening a successful bakery business in Dubai
Cafeteria License Cost in Dubai: How Much It Costs
Technical Services License in Dubai
Gents salon license in the UAE
Health-related license
General trading license in Dubai
Manufacturing License in Dubai
Service license in the UAE
Tourism License in Dubai
Real Estate License in Dubai
Beauty salon license in the UAE
Teachers License in Dubai
Dubai Silicon Oasis Free Zone follows the business activity list of the Department of Economic Development. Up to 7 different activities from the same segment (trading, service, or potentially industrial) can be included in your license.
Freelance category is not available in this free zone. If you are looking for a freelance license, check out DMCC Freelance License or Go Freelance by TECOM.
Elena O.
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Dubai Silicon Oasis facilities
Dubai Silicon Oasis offers flexible plans of facilities suitable for all categories of licensees, from startups to large corporations:
Light industrial unit
The office spaces can be leased either in any business tower within Silicon Oasis or the following towers managed by the free zone:
- Headquarters Building (rent inclusive of utilities)
- Dubai Digital Park Offices
- Techno Hub
Dubai Silicon Oasis authorities provide flexible rental rules. Companies can rent an office either under free zone management or from any other landlord within Silicon Oasis, i.e. in freehold areas. Furthermore, companies registered with the Department of Economic Development of Dubai can also rent offices in this free zone.
Dubai Silicon Oasis residence visas
Companies in Dubai Silicon Oasis Free Zone are eligible for a specific number of visas based on the size of the office — every 9 sq. meters makes a company eligible for one resident visa. For instance, a 50 sq. meter office entitles you to 5 visa slots.
| VISA | MEDICAL CHECKUP | EMIRATES ID | REFUNDABLE DEPOSIT | |
|---|---|---|---|---|
| Applicant in the UAE | 4,860 AED | 650 AED | 330 AED | 2,500 AED |
| Applicant outside the UAE | 3,260 AED | 650 AED | 330 AED | 2,500 AED |
Dubai Silicon Oasis does not issue Investor or Partner visas. All visas will have some managerial designations. Importantly, the company's General Manager must hold a resident visa from Dubai Silicon Oasis.
Additional fee of 5,000 AED will apply to applicants over 60 years old.
All visas are valid for 2 years.
Dubai Silicon Oasis company license renewal
Annual renewal of a company is essential and involves the payment of office rent and license fees.
The renewal process usually lasts about 2 weeks.
Additionally, you're required to submit annual audit reports of your company. Notably, the first audit should be conducted 18 months after the company's registration date.
Dubai Silicon Oasis company amendments
Common amendments made to companies include:
- Transfer of shares
- Change of company name
- Amendment to the business activity
- Change of company manager
Amendment fees for companies in Dubai Silicon Oasis Free Zone start from AED 500 and can reach up to AED 2,000. While some amendments can be executed remotely, a change of shareholders might necessitate personal presence.
Dubai Silicon Oasis company liquidation
Dubai Silicon Oasis has simplified the liquidation procedure and significantly reduced the associated costs. The current fee for company closure stands at approximately AED 2,000. The process takes about 1 month. It consists of these major steps:
- Visa cancellation (7-10 working days) - if there is a visa in the company.
- Establishment card cancellation (7-10 working days) - if it was a visa eligible company.
- License cancellation.
In the event of liquidation, you're required to provide a final audit report and return all original company documents. Any existing lease agreements should be terminated and visas closed.
If you had a corporate bank account, it should be closed before applying for company liquidation. You should obtain a letter proof from the bank confirming that.
After the company is dissolved, you will get an official deregistration letter from the free zone as a formal confirmation of the liquidation.
With us, you can navigate the liquidation process for your UAE company quickly and effortlessly, ensuring a smooth closure while saving valuable time and resources.
About Dubai Silicon Oasis
Dubai Silicon Oasis is a Dubai free zone and technology park. It was established in 2004 by the Dubai government and is home to over 4,000 companies, including multinational corporations, start-ups, and research and development centers.
Dubai Silicon Oasis stands as a premier free zone and a vibrant business and residential community in Dubai. Serving as an innovative technology hub, it accommodates businesses specializing in IT, online services, industry, research, and development.
In addition to being a commercial center, Dubai Silicon Oasis hosts Dubai Digital Park, offering state-of-the-art workspaces and residences, ready for immediate occupation. It provides an array of amenities for its residents, such as over 80 restaurants, retail outlets, a shopping mall, schools, and a hospital.
Strategically located, it can be accessed via any road, minimizing traffic congestion. This makes it one of the most sought-after locations for business setup in the UAE.
All technological initiatives of the Dubai government are implemented and tested in Silicon Oasis.
FAQ
No, a personal visit to the UAE is required as per the regulations of the UAE Central Bank. Local banks require this visit to verify the client's identity.
In most cases, you can obtain a debit card for your newly opened company, especially if there is only one shareholder. However, a credit card is usually issued against a fixed deposit. As for loans, banks may consider your eligibility based on your company's operations and profits. It is recommended to apply for a loan after at least one year of company operations.
Officially, the office of a free zone company should be located within the free zone where it is registered. However, if you need an office in Dubai, you have the option to rent space in a Business Center and use it on a flexible basis. It is important to note that the minimum required space (flexi desk) in the free zone cannot be canceled.
A flexi desk is a mandatory requirement for any company eligible for resident visas. It serves as the minimum physical office space that a company with individuals under its visa must have. Additionally, a flexi desk can facilitate bank account opening as banks require evidence of a company having some form of office or physical presence.
VAT obligations depend not only on the place of registration but also on where the business activities take place. VAT becomes applicable when the taxable turnover reaches AED 375,000. If a free zone company's trading activities take place abroad, the turnover is not considered taxable as long as the transactions occur outside the UAE. However, if goods are imported to the UAE, VAT at a rate of 5% must be added to invoices and paid.
The UAE is free from personal income tax. However, there is a 5% import tax on goods brought into the country and a 5% VAT on trading or service transactions that occur within the UAE.On June 1, 2023, the UAE introduced 9% corporate tax, however, companies registered in UAE free zones may be granted corporate tax exemption if they meet the criteria for qualifying activities.
The suitability of a free zone company versus an offshore or mainland entity depends on your business model and requirements. However, a free zone setup offers advantages such as 100% foreign ownership, eligibility for resident visas, the ability to conduct business both within and outside the UAE, and greater favorability with banks compared to offshore companies. Additionally, free zones often offer a flexi desk option instead of executive offices, making it a cost-effective way to start a business without unnecessary obligations.
While we strive to make the account opening process as smooth as possible, we cannot guarantee the approval as it ultimately depends on the bank. Each case goes through several bank departments for approval, and the bank may contact you directly for clarifications. Providing a clear picture of your business to the bank increases the chances of successful account opening. We do our best to prepare you and your company for a smooth and fast account opening process.
Your company should be renewed annually, and the cost is typically lower than the initial setup cost. The renewal fees depend on your company package, and you can obtain the price by downloading the Estimate from our website. Company renewal does not require the personal presence of the owner and can be done by your agent. After renewal, the new license must be presented to the bank to extend the bank account, which is included in our renewal service.
You have multiple options for fee payment. You can make payments via bank transfer, cash, or online using a card.
Elena O.
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