HomeCompany Formation in DIAC – Dubai International Academic City Free Zone

Company Formation in DIAC – Dubai International Academic City Free Zone
http://www.gbsei.com/wp-content/uploads/2020/06/Dubai-International-Academic-City.jpg

Under the directives of H.H.Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE, Ruler of Dubai, Knowledge and Human Development Authority was established by decree 30/2006 to develop all knowledge and human resource sectors in the Emirate of Dubai. DIAC is the world’s only Free Zone dedicated to Higher Education. Established in 2007 as part of TECOM Investments, DIAC aims to develop the region’s talent pool and establish the UAE as a knowledge-based economy. DIAC is the premier destination for Higher Education in the region, located on a fully-appointed 18 million sq. ft. campus with state-of-the-art modern facilities. DIAC currently has 28 Academic institutions from 11 different countries. The DIAC campus is host to over 18,000 students from more than 100 nationalities. DIAC students also have access to over 300 Higher Education programmes.

The number of students across the world pursuing tertiary education worldwide has been on the rise, reaching a skyrocketing 152.5 million in 2007, from a mere 28.6 million in 1970. To address the demand for tertiary education around the world, branch campuses have also increased by 43% between 2006 and 2009. The UAE, faced with a high demand for higher education, a fast growing population, and a need to build a knowledge-based economy in order to reduce dependency on petro-dollars, has managed to attract more foreign universities than any other country in the world.

While the UAE has become a hub catering to the booming demand for tertiary education, it has also been focusing on diversifying its industries, creating an increasing demand for an educated workforce and therefore offering considerable potential for universities/institutions to set up specific programmes, based on industry demand.

Major Benefits of Company Formation in DIAC (Dubai International Academic City Free Zone):

  • 100% foreign ownership,
  • 100% repatriation of capital,
  • 100% exemption from personal income tax, corporate tax, service tax, import and export tax,
  • Communication infrastructure based on next-generation technologies
Characteristics of DIAC Company Setup:

Location:

Dubai International Academic City, Dubai, (U.A.E.)

Proposed activity:

Higher Education Provider/ Online University/ Educational Service Provider/ Non- Academic Service Provider/ Free Lancer/ Branch School/ Boarding School and General Activities can be carried out in DIAC.

License available:

Commercial Trading, Service License & Freelancer permit are available options for DIAC – Dubai International Academic City Free Zone Company setup.

Type of entities:

Free Zone-Limited Liability Company (FZ-LLC) & Branch office

Shareholder:

Shareholder for Dubai International Academic City Free Zone (DIAC) Company can be Individuals or Corporate entity,

Director:

Individuals only (Minimum one. Shareholder can also be Director)

Share capital:

AED 50,000/- (50 shares of AED 1,000/- each) for FZ – LLC DIAC Company Setup and AED Nil/- in case of Branch office. (Required to be deposited in bank before or after company incorporation)

Do note that shares are deemed to be issued on company incorporation irrespective of whether share capital is deposited in bank pre or post incorporation.

Audit:

Audit report is not required to be filed with DIAC.

Estimated time:

4 to 6 weeks to obtain license of the company and register a company in DIAC (Dubai International Academic City Free Zone)

Another 7-10 working days for immigration card subject to security clearance & thereafter visa may take approximately 7-10 working days on normal basis.

DIAC (Dubai International Academic City Free Zone) Company Setup Process:

  • Identify the legal form of company to be registered in DIAC
  • Select activity from DIAC activity list,
  • Apply for name and initial approval,
  • Payment of fees related to DIAC business set up,
  • Sign DIAC company registration and incorporation documents,
  • Apply for DIAC residence visa.

Documents Required for DIAC Company Registration:

The documents required for business set up in DIAC (Dubai International Academic City Free Zone) depends on whether a shareholder is individual or corporate entity. Basic requirements are

  • Color passport copy,
  • Color UAE residence visa & emirates id copy,
  • Utility bill copy,
  • CV/Resume,
  • Business Plan.
  • NOC from current sponsor

To know more about the complete requirements for company formation in Dubai International Academic City Free Zone (DIAC) call us now on 050-8992852 or drop an email to sagar.mehta@gbsei.com

Company Formation Cost in DIAC:

DIAC Company Setup begins from AED 43,290/-.

Call us now on 050-8992852 or drop an email to sagar.mehta@gbsei.com to know about special promotions/offers related to business setup in DIAC.

Other Notes for DIAC – Dubai International Academic City Free Zone Company Formation:

  1. Document to be legalized with UAE Embassy in case of corporate shareholder
  2. Shareholder or directors wishing to have UAE residency visa on said company will need to revisit after issuance of license, immigration card and entry permit for stamping of visa on the passport and may need to stay in UAE for 5 to 7 working days as that process may take time.
  3. Company Immigration/Establishment card to be renewed every year
  4. Investors to have family status UAE visa should have share capital of AED 75,000/- and in order to be eligible for Owner/Investor/Partner visa should have share capital of AED 60,000/-

Global Business Services DMCC has helped many individuals and corporate entities to set up their businesses in DIAC. Our company acts as a one stop solution for DIAC company incorporation services.

If you are looking for DIAC company setup, please get in touch with us for professional assistance.

Call us now on 050-8992852 or drop an email to sagar.mehta@gbsei.com to know about special promotions/offers related to business setup in DIAC (Dubai International Academic City Free Zone).

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.

GBSOur Office
Organically grow the holistic world view of disruptive innovation via empowerment.
+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

GET IN TOUCHGBS Social links
Taking seamless key performance indicators offline to maximise the long tail.
GBSOur Office
Organically grow the holistic world view of disruptive innovation via empowerment.
+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

QUICK LINKSOur Services
GET IN TOUCHGBS Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.

Copyright © 2020 Global Business Services.

Copyright © 2020 Global Business Services.

Contact Us
close slider