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Onshore Free Zones

Dual License In DAFZA

DAFZA Dual LicThe Dubai Airport Free Zone (DAFZA) has recently signed a Memorandum of Understanding (MoU) with the Department of Economic Development (DED) to permit DAFZA hosted companies to acquire dual licenses to operate across Dubai (Mainland). This move is likely to attract even more National and Local Foreign Direct Investment (FDI). Under the terms of the agreement, both parties shall coordinate to enhance the degree of transparency, governance, and functioning of businesses operating in DAFZA.

Only DAFZA – FZCO entity can apply for Dual License. Having a DAFZA license, DAFZA will issue an NOC letter to apply at DED. The company should follow DED guidelines in opening a company in the Mainland. A local sponsor is required for a DED license. As per the agreement, DED may modify or add any activity related to the licenses of companies subject to the approval of DAFZA. The investor can use one lease for DAFZA license and DED license.

Starting Business in Dubai Silicon Oasis Free Zone (DSO)

Dubai Silicon Oasis Authority, a 100% government-owned free zone, was established following Law No. 16 of 2005 by the Government of Dubai with the mission to facilitate and promote modern technology based industries and to support the regions demand for business expansion.

Business in DSO

Dubai Silicon Oasis

DSO’s urban master-planned community spans 7.2 million square meters and has been carefully divided into 5 main pillars based on industrial, commercial, education, living, Residences and public facilities.

DSO is designed as a high-tech ecosystem which offers businesses a plethora of advantages including a state-of-the-art infrastructure, in-house business services and strong business support such as technology investment incentive for large enterprises, entrepreneurial support, incubation centre and venture capital funding.

  1. Location : Dubai Silicon Oasis, Dubai, (U.A.E.)
  2. Permitted activity: Mobile Technology, Internet, Data Centre, Arabization and Localization Technologies, Software, Software-As-A-Services and Semiconductor
  3. License available: Trading/Service and Industrial license
  4. Type of entity : Free Zone Entity, Free Zone Company& Branch office
  5. Shareholder : Can be Individual or Corporate entity
  6. Director : Individuals only
  7. Share capital : Minimum share capital of AED 100,000/- & AED Nil/- for branch office
  8. Audit : Audit report is required to be submitted to free zone authorities
  9. Estimated time: Minimum of 5 – 6 working weeks to obtain final trade license
  10. Key benefits:
    1. Ownership, Taxation & Repatriation Advantage.
    2. 100% foreign ownership.
    3. 100% repatriation of capital and profits.
    4. No personal income tax.
    5. No corporate tax.
    6. No currency restriction
  11. Renewal : License of the company has to be renewed on annual basis. Penalty would be charged by the authority if license is renewed after expiry date.

Global Business Services (GBS) has helped many individuals and corporate entities to set up their businesses in Dubai Silicon Oasis Free Zone. Global Business Services (GBS) provides you consultancy and helps you with company incorporation services at Dubai Silicon Oasis Free Zone.

DIFC Wills and Probate Registry

The Dubai Court does attest Wills for non-Muslim individuals in accordance with the UAE law andprocedures. Such a will would express an intention for moveable assets situated in the UAE to pass in accordance with the testator’s home country law. However, the application of home country law to immoveable assets (real estate) remains a grey area in the UAE courts. Thus, uncertainties over transfer of immoveable assets based in UAE do remain.

However setting up of The Dubai International Financial Centre (DIFC) Wills and Probate Registry has introduced new internationally-recognized common law principles that will allow non-Muslim individuals owning assets within Dubai to freely dispose of their Dubai estate in the event of their death and will further benefit thos

DIFC Company Setup

Dubai International Company Formation

e wishing to hold financial and real estate assets in Dubai.

The new registry allows non-Muslims expatriates over the age of 21 to register wills written in English in the DIFC Courts, doing away with the current need for translating wills into Arabic and having them attested by a local notary public. Only assets in Dubai can be included in wills registered in the DIFC Wills & Probate Registry.

On death of the testator, the DIFC Wills & Probate Registry will issue a Probate regarding Dubai assets based on the Will registered with the registry and said probate will be executable in the Emirate of Dubai. This thus gives certainty over transfer of all assets including immoveable properties based in Dubai to the beneficiary named in the Will.

The services of the new registry are AED 10,000/- for single will and AED 15,000/- for a mirror will (husband & wife), excluding legal and professional fees for drafting of will.

The rules are largely drawn from the UK’s administration of estates law and on similar legislation in other common law jurisdictions including Australia, Hong Kong and Singapore.

Registering such a will at the DIFC Wills and Probate Registry brings the benefit of promoting investment in the region and avoid family members becoming involved in uncertain proceedings that can be encountered in the UAE Courts. The DIFC procedure is based upon ‘common law’ principles whereby a testator has freedom to dispose of their estate, rather than being subject to any specific legal rules regarding distribution or a forced heirship regime.

A system of precedents will result in an orderly administrative process of a deceased non-Muslim’s estate in Dubai. This, in turn, will provide a greater degree of certainty in the handling of such inheritance cases in the future.

Some important points to note regarding the will that can be registered at DIFC Wills & Probate Registry:

  1. The DIFC Wills and Probate Registry marks the introduction of a new set of rules relating to succession and inheritance matters for non-Muslims with assets in Dubai.
  1. It provides a mechanism for non-Muslims with assets in Dubai only to pass on their estates according to their wishes.
  1. The rules governing the registry complements existing UAE laws on inheritance for non-Muslims, and provide non-Muslims with the option and right to choose the way in which their estates are distributed.
  1. The registry is within the DIFC jurisdiction and will work with the DIFC Courts for the production of grants and court orders for the distribution of assets. As the grant is issued by the DIFC Court, it will be directly enforceable in Dubai without the need to go through the Dubai Courts.
  1. The DIFC is the first jurisdiction in the MENA region, where non-Muslims can register a will under internationally recognized common law principles.

The current thought is that the Registry will register the wills of non-Muslims and, once they are informed of someone’s death, will issue the necessary court orders to allow for the distribution of the deceased’s Dubai based assets. This will also include court orders relating to Guardianship with everything carried out in accordance with the registered will.

Starting a Company in Dubai Internet City (DIC)

Dubai Internet City or DIC, is the largest ICT hub in the Middle East and North Africa. Since 2000, it has developed a flourishing ecosystem for technology based organizations. It is among the prominent locations to carry forward the profound vision of Dubai to transition into a knowledge-based economy.

DIC hosts numerous Fortune 500 companies and multinationals like LinkedIn and Facebook. It also owns

region’s most successful and dynamic technology SMEs and startups from all the ICT value chain elements. Additionally, DIC has initiated several programmes to help the community diversify channel development opportunities. Companies also benefit from the sophisticatDIC Company Formationed Metro Ethernet broadband infrastructure and various business enabling facilities like government transactions.

Established within a free trade zone, DIC forms a strategic hub for firms aiming at capturing the evolving markets in the nearby regions. From Africa to the CIS countries, Middle East to the Indian Subcontinent, and more, the DIC markets cover almost three billion people. It also owns world’s largest commercial IP Telephony network. For multinational companies eyeing markets in the Middle East, Asian Subcontinent, Africa, Central Asia, and Eastern Mediterranean regions, Dubai is an ideal place.

The key benefits: To do business in DIC are as follows:

100% freedom from personal income tax, corporate tax for 50 years, 100% capital and profit repatriation, 100% foreign ownership, next-generation technology based Communications infrastructure, Metro Ethernet Environment, high speed data services & Digital voice at affordable rates & possibilities for market and channel development.

  1. Location: Dubai Internet City, Dubai, (U.A.E.)
  2. Proposed activity: Software/ Internet & Multimedia/ Telecommunication & Network/ IT – Services
  3. License available: Commercial license
  4. Entities Type: Free Zone-Limited Liability Company (FZ-LLC) & Branch office
  5. Shareholder: Can be Individual or Corporate entity
  6. Director: Individuals only
  7. Share capital: Minimum of AED 50,000/-
  8. Audit: Audit report is not required to be filed with the authority
  9. Estimated time: Minimum of 5 – 6 working weeks to obtain final trade license

Global Business Services (GBS) has helped many individuals and corporate entities to set up their businesses in Dubai Internet City Free Zone. Global Business Services (GBS) provides you consultancy and helps you with company incorporation services at Dubai Internet City Free Zone.