Company Formation in DIAC – Dubai International Academic City Free Zone

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

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.