The UAE presents a great business landscape. One of the major reasons that foreign investors flock here to do business is the nation’s free zones. Benefits such as exemption of corporate and personal tax, 100% company ownership, complete repatriation of capital and profits and 100% import/export tax exemption are just some of major advantages of setting up business in UAE free zones.
What most people do not know that free zones in UAE differ a lot from each other. Each presents set of unique advantages that can’t be found elsewhere. For example, if you want to start a business in media and communications, Dubai Media City is a great option for you. The free zone is home to a media community of over 20,000 professionals and presents huge networking and collaborative opportunities.
Dubai Media City allows one visa per flexi-desk package that makes it ideal for freelancers and solo entrepreneurs. This facility gives freelancers the freedom to make use of DMC’s many business facilities on an ad-hoc basis. You can even setup in Dubai Media City without the need to take up office space at all and still be able to use DMC’s Business Centre which offers visa and document processing, mail collection and distribution, and access to meeting rooms along with a wide range of services.
So how can you start business in Dubai Media City? Let’s take a look at permissible business activities in Dubai Media City.
- Advertising and Communication
- Media and Marketing Services
- Media Support Services
- Event Management and Event Support Services
- Business Information
- Freelancers and Associations (Non Profit)
- Media Associations
- Media and Marketing Consultancy
Process for Setting Up Business In Dubai Media City
Dubai Technology & Media Free Zone Authority (DTMFZA) is responsible for the incorporation of companies in Dubai Media City. The minimum share capital required to setup business in the DMC is Dh 50,000. Follow these steps if you are looking to setup business in DMC.
- Completely fill the online application form with all the required details and submit to DTMFZ. The authorities evaluate the application and the maximum time required to revert back is 5 days.
- After you receive approval of application, submit all the legal documents and their copies. DMC will take 2 day time period to go through your documents. After your documents are evaluated and approved, DMC will issue a customer confirmation letter.
- Application form for company registration
- License application
- Business plan
- Color passport copy of manager/director/legal representative
- Original MOA and AOA
- Board resolution
- NOC from residency visa sponsor
- Proof of share capital
- Managers specimen signature
- Registration and License fee
- You are required to sign back and return the customer confirmation letter and make the payment.
- Sign the Memorandum of Association (MOA) in the presence of company shareholders.
- Deposit the total share capital. After that your license will be made.
- Sign lease and personal sponsorship agreement. You can visit TECOM Leasing Department to sign the lease and personal sponsorship agreement and collect your business license.
If you are interested in starting a business in Dubai in broadcasting and media industry, then DMC free zone is the ideal way to go forward. In order to promote and encourage talented entrepreneurs, DMC has also set up Media Business Centers which target freelancers and independent media professionals. DMC presents an ideal base for freelancers to gain visibility and build relationships with the media industry.
It is highly advisable to consult a Dubai business setup advisor who will guide you through every part of the application and ensure the entire company formation process takes little more than a few hours of your time. Our experts at Business Formation Dubai are here to help you setup business in DMC or any UAE free zone.