Business Formation in Dubai Science Park
A strategically planned community and a science-focused hub, Dubai Science Park was established to cater to the needs of the energy, environmental, and science sectors. Business setup in Dubai Science Park is attractive not just because it provides organizations with the option of utilizing state-of-the-art clinics, laboratories, and commercial spaces that meet high global standards, but also because it offers a center wherein innovative companies can become highly profitable while being completely focused on business activities such as research and development, diagnostics, testing, manufacturing, and production.
In today’s competitive and changing business landscape, it’s become more important for businesses to take advantage of the benefits Dubai Science Park offers. Seek the expertise of FAR Consulting Middle East’s specialists. Our tailored solutions enable a swift setup, so you can implement your business’ goals of market expansion and penetration the soonest possible.
Since its conception, the experts of FAR Consulting Middle East have helped entrepreneurs and companies in the science industry secure licenses to operate in Dubai Science Park and perform the following activities:
- Research and Development;
- Support service;
- Testing;
- Management;
- Consultancy;
- Import, export, and re-export;
- Manufacturing;
- Production;
- Marketing and sales promotion; and
- Storage
Similar to company formation in other jurisdictions that fall under the Dubai Creative Clusters Authority, there are certain kinds of business structures that can operate in Dubai Science Park. Our experts can help with the formation of the following:
- Free Zone Establishment or Limited Liability Company – an LLC or establishment in Dubai Science Park is a legal entity that has its own shareholders or members. Capital requirement for its incorporation will depend on the business’ services or activities.
- UAE/Foreign Company Branch – as it’s a branch rather than a company, it’s dependent entirely on its parent company to determine the business activities and services that can be carried out within the district. There’s no capital requirement for the setup of a UAE/foreign company branch.
At FAR Consulting Middle East, our tailored business setup solutions in Dubai Science Park which include expert guidance on the registration of a company and its trademark, allow clients to enjoy:
- Lesser chances of rejection – as part of our comprehensive business setup service, our business specialists help in the preparation, review, and submission of applications to check for errors and ensure entries are correct. As a result, we increase the likelihood of businesses to get the approval of regulatory bodies;
- Decades of experience – with a vast experience in company formation, the firm has in-house experts that will assist you throughout the business setup process, helping ensure full legal compliance and a smooth incorporation/registration;
- No hidden charges – the firm believes in clear, transparent pricing. You will be billed only for the specific business setup solutions you need addressed by our specialists
FAR Consulting Middle East provides exceptional business setup solutions for company formation in Dubai Science Park, as well as license renewal for existing enterprises and corporations. Call us today for a free quotation and/or consultation with our business advisors for business formation in Dubai Science Park!
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Following industries you can setup in DSP
We covers all the following industries, even if your industry not in list you can consult with us we can help you setup.
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Benefits of Setting up Business in DSP
Business setup in UAE free zones is known as a normal venture by business owners that visit the UAE. Business formation in Dubai has been rising in Dubai Science Park for more than two decades now. It has continuously been a great help to the economy of UAE, as it invites more and more investors free zone business setup in Dubai.
Dubai free zone company registration costs can be considered as one of its advantages as well as it is not as expensive as others. Some of the significant benefits of Dubai Free Zone, however, are listed below:
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100% foreign ownershipIn the Mainlands in the UAE, an expatriate investor needs to have a local sponsor for setting up a business. This local sponsor will have 51% of the shares of your company. However, free zone company formation Dubai can give you the advantage of having 100% ownership of your business without having it divided between you an a local sponsor.
Location
The international companies can find it easily accessible and strategically placed. DSP is located next to Dubai International Airport, which is one of the busiest airports in the world to have international passenger traffic.
Tax Exemption
At the start of 2018, the value-added tax (VAT) was implemented in the UAE on some goods and services. However, it is still a huge advantage, that the government hasn’t mandated the country to pay corporate and income taxes. For business owners who are looking for this kind of tax exemption, Dubai free zone is the right destination for them to set up business.
There is a lot more that DSP is capable of offering to the businessmen. The following additional benefits are listed below for you to see:
- No restriction on capital repatriation
- 0% import or re-export duties
- No currency restrictions
- No restriction on foreign talent or employees
- Onsite customs and One-Stop Shop for all Services
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Business Setup Requirements & Procedure
To setup businesses in Dubai Science Park, entrepreneurs and investors are required to furnish the following documents:
- Completed company formation application form
- Copy of existing registration or license certificate (for existing local companies)
- Business plan
- Colored copies of passports of company shareholders and appointed manager or director
- Audited financial report for a corporate entity
- Certificate of reference issued by a banking facility for individual shareholders
- No objection certificate from current sponsors (applies to shareholders)
- Specimen signature of company shareholders and appointed manager or director
The list above is not exhaustive as required documents are subject to change without notice from Dubai Science Park Authority. Call us today for advice specific to your circumstance.
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Support Services Offered in DSP
At FAR Consulting Middle East, clients rely on our Dubai Science Park business setup for expert assistance on:
- Completion and submission of application form for company registration;
- Securing the Initial Approval from Dubai Science Park Authority;
- Drafting, review, and/or submission of legal documents required by regulatory bodies for free zone business setup, including Memorandum & Articles of Association;
- Visa processing or renewal for shareholders and directors (may include employees and dependents)
- Corporate bank account opening;
- Business setup advisory
For inquiries on Dubai Science Park business setup, call us today!
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Business Setup Cost in DSP
Farahat & Co has an expert business consulting team experienced in setting up businesses in Dubai Science Park. The table below presents company setup cost in Dubai Biotechnology and company setup cost in Research Park, both now referred to as Dubai Science Park. Please do contact us for a detailed guide on company formation in Dubai free zones.
Cost for Business setup in Dubai Science Park (DSP)
Business Registration and Licensing Cost Fees Registration Fee AED 3,500.00 Knowledge Fee & Innovation Fee AED 20.00 Cost by Trade Licence Type (Select one of the following) Service License Fee (Starting from) AED 15,000.00 Industrial License Fee (Starting from) AED 15,000.00 Manufacturing License Fee (Starting from) AED 25,000.00 Life Science Association (NPO) allotted with 1 activity only AED 15,000.00 Association (NPO) allotted with 1 activity only AED 15,000.00 Local Branch Company Registration (Starting from) AED 15,000.00 Foreign Branch Company Registration (Starting from) AED 15,000.00 Additional Fees for Business Registration Fee for Any Additional Activity (if applicable) AED 10,000.00 Establishment Online Application (Starting from) AED 1,980.00 Visa Processing Cost Bank Guarantee / Employee Visa deposit AED 2,500.00 Employment/Residence Visa (Select one of the following) Employment / Residence Visa – In Country (Starting from) AED 4,140.00 Employment / Residence Visa – Out of the Country (Starting from) AED 2,720.00 Postal Services Cost Empost Representative Card AED 300.00 P.O.BOX Services Fee (Select one of the following) PO Box Light (Starting from) AED 1,170.00 PO Box Standard (Starting from) AED 2,020.00 Ezimail Bronze (Starting from) AED 3,770.00 Ezimail Silver (Starting from) AED 6,270.00 Ezimail Gold AED 12,270.00 ATTENTION – NOTEAll fees for government and related authorities are an estimation only, as of on 19th September, 2019. The exact government fees will be determined at the time of submission of the applications. We are obligated to provide our clients with all receipts of government and related agencies against the amount that will be paid. Every amount that will expense for your business registration will be supported by documents. In case of shortage, the client has to repay us. In case of excess, we have to refund the client.
Our professional fee covers consultation, drafting of legal documents, introducing reliable local citizen service-agent when required, assisting in document notarization from the local notary public, assisting in local bank account opening, and applying to the concerned authorities on your behalf.