Dubai International Academic City (DIAC) is the world's only free zone dedicated to higher education. Established in 2007 as part of the 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 square feet 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 educational 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.
|Location:||Dxb International Academic City, Dubai, (U.A.E.)|
|Permitted activity:||Higher Education Provider/ Online University/ Educational Service Provider/ Non- Academic Service Provider/ Free Lancer/ Branch School/ Boarding School and General activities|
|License available:||Commercial license|
|Types of entities:||Free Zone Limited Liability Company (FZ-LLC), Branch office|
|Shareholder:||Can be individual or corporate entity|
|Share capital:||Minimum of AED 50,000/-, whereas AED Nil/- in case of branch office|
|Audit:||Audit report not required to be submitted to free zone authorities|
|Estimated time:||Minimum of 5 - 6 working weeks to obtain final trade license|
|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.|
Starting from AED 33,520/- onwards (inclusive of license, registration and hot desk rentals) and renewal charges amounts to AED 25,010/- from next year onwards. However please note that the above mentioned charges can vary depending upon the number of license applied under one company and also depends upon the leasing/office facility acquired.
GBS provides you consultancy and helps you with company incorporation services at 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.