Dubai knowledge village business setup serves the purpose of developing the talent pool in UAE and promoting the region as a knowledge-based economy. Dubai knowledge village has a completely different approach toward business setup in Dubai. Some of the reasons that make Dubai knowledge village so attractive for business setup are as follows
Hassle Free Registration
Setting up a business in Dubai knowledge village can be easy in terms of registration. The registration process requires a number of documents to process licenses and ensure proper compliance as per the UAE laws.
No Limit on Number of Shareholders
The commercial company’s law has stipulated several provisions stating the number of shareholders during the formation of business. There is no such constraint on the number of shareholders when setting up a business in Dubai knowledge park.
Accessibility and Modern Infrastructural
Dubai knowledge village is divided into three phases with world class facilities and infrastructure. It has well connected roads and metros that are easily accessible. This free zone provides a very business friendly environment and growth opportunities. Business owners can find customized and predesigned office facilities equipped with modern technology.
Fewer Licensing Formalities
Dubai knowledge village business set up commonly offers two types of license commercial license and service license.
- Service: Companies holding a valid license from the respective government body in the UAE can offer banking, contracting services etc. but have to abide by any requirements of the governing body.
- Commercial: Companies that are legally incorporated in this free zone can carry out any commercial activities under this license.
Availability of Freelance Permit
Dubai knowledge park allows an entrepreneur to establish a free zone as a freelancer. These permits allow for specialized individuals to offer their services on a consultancy basis, even if they have a full-time job, this initiative has become legalized by the UAE to boost diverse skills into the local market.
Easy to Understand Legal Framework for Business Set up
Dubai Knowledge Village provides streamlined legal procedures for Starting a business in a free zone. Founders have to choose the right location and form of the company, structure a company and its ownership, employ people, enter into contractual arrangements with customers and suppliers, resolve disputes. The easy legal system may considerably help entrepreneurs to make the right decisions and future-proof their startups.
Foreign Company Ownership is Allowed
- A foreign investor can fully own the business without requirement if a local partner and full repatriation of profits and capital.
- companies within the free zones are allowed for corporate tax exemptions
- this free zone allows foreign investors to transfer corporate money back to their home country from UAE.
- When investors want to transfer their funds into a new region, they need to open a bank account so they can secure their investment. free zone of emirates provides you an ease to open a bank account so that you can perform the daily monetary activity with comfort and peace of mind.
In order to set a company, one must submit the following documents with Dubai Knowledge Village’s authority:
- an application form;
- proper business plan;
- copies of the passports of the shareholders, managers, and local agent, if one is appointed.
For foreign companies acting as shareholders, the certificate of incorporation will also be required. The above-mentioned documents can be supplied when registering a branch office in Dubai Knowledge Park.
Read more: Things You Need to Know and Do About Forming a Company in Dubai Knowledge Village
Business Set Up Consultants in UAE
FAR Consulting Middle East is a business consulting firm and expert guidance on starting a new venture in Dubai knowledge village park. We help our clients discover new business opportunities, understand legal procedures, network with local authorities. Our professional team can help in the process of setting up business in Dubai knowledge village way. Contact us we’d be happy to assist!
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