Dubai Silicon Oasis(DSO), situated in the emirate of Dubai, is one of the leading free zones. It is an integrated technology park that offers a wide range of business setup services, startups, and venture capital funding schemes. Launched in the year2004, DSO accommodates residential, commercial, and industrial spaces to provide the best possible atmosphere for organizations so that they prosper in the fast-growing high-technology sector. Besides, the Dubai Silicon Oasis Authority(DSOA), the regulatory authority of the free zone, has made it much easier for investors and business people to start a business in the DSO. Nevertheless, it is also equally important to learn about the other relevant aspects of business formation, such as Dubai Silicon Oasis company setup cost, procedure, documentation, permitted business activities, advantages, etc.
So, let’s read more about it.
Permitted activities in Dubai Silicon Oasis Free zone
- Health & Hospitality
- Storage & warehousing
- Waste management
Benefits of Dubai Silicon Oasis company formation
Dubai is the epicenter of the global corporate world. Therefore, this ideal situation allows DSO companies to access substantial financial institutions both within as well as outside the UAE. It also helps to form a partnership with other large firms in Dubai easily.
Simple legal forms
DSOA companies can choose to establish within any of the two forms – free zone establishment (FZE) and free zone company (FZCO). However, it totally depends on the number of shareholders who are forming the company. Besides, DSOA also allows setting up branch companies, but with the same business as the parent company.
Additionally, companies in the DSOA holding a Dubai Economy license are permitted to operate in DSOA’s administrative zone.
Wide range of business activities
Businesses in Dubai Silicon Oasis are allowed to engage in a variety of activities. These activities are basically categorized under four different licenses – A trade license, an industrial license, a service license, and a special license. The first three licenses allow businesses to import, export, distribute, produce, prepare, assemble, as well as deliver a variety of services. On the other hand, a special license is issued to companies that are already registered in Dubai, which enables them to operate under a special DSOA administrative jurisdiction.
Availability of office and residential spaces
DSOA comprises an ideal work-life balance. It provides a variety of options for establishing an office and a residence for both individuals and companies. Moreover, the workspace solutions available in DSOA are easily adaptable to meet any business operational needs.
The corporate facilities include “plug and play” offices with pre-installed internet, voice and data connections, a data center, and parking, among other amenities. Also, these offices can comfortably engage up to 500 employees. Besides, the conference rooms can be used to entertain guests or discuss game-changing company strategies.
Focused free zone
DSOA is a technology-focused free zone. It mainly focuses on IT, industrial research, and development businesses. Moreover, it is also known as the home to UAE’s technology start-ups, which provide special corporate facilities to support the technology companies. These facilities may include innovative rooms, creative hubs, partner labs, etc. On the whole, the atmosphere of Dubai Silicon Oasis is exclusively designed for tech-focused companies in order to help them grow.
Dubai Silicon Oasis company formation comes with a lot of business facilities to assist the residents as well as the businesses. For instance, warehousing and manufacturing units, conference rooms, accommodation for students and employees, land for development, and other office amenities.
- Foreign ownership
- Repatriation of capital
- Full exemption from various taxes, such as income tax, corporate tax, service tax, import and export tax, etc.
- No currency restrictions
- Dedicated business support services
- The remote company setup process
- Access to visa and non-visa packages
- Integrated balance of living as well as a working community
- Low operational cost
- Thriving urban community
- Modern living environment
- Leasing options available
- Boosting opportunities
- Advanced infrastructure
- Quick as well as the simple company setup process
- Home to a plethora of sophisticated technology-based sectors
- Proximity to Dubai Airport and other business districts
- World’s leading center of electronic invention, design, and research
Operating licenses for Dubai Silicon Oasis company formation
A trade license allows the companies to carry out the import, export, and distribution of products specified in the license.
Individuals or firms with a service license can deliver services permitted by the DSOA across the region. Services such as accounting, legal services, web development, consultancy, IT services, etc.
With an industrial license, companies can import raw materials, manufacture, process, and assemble the products, and finally pack and export the finished goods to the expected destination.
Business structures in Dubai Silicon Oasis Free zone
Free Zone Establishment (FZE)
Investors who wish to start their business individually in Dubai can opt for FZE. This entity requires a single shareholder, which could be an individual or any corporate company.
Free Zone Company(FZCo)
Unlike FZE, FZCo requires more than one shareholder, which can limit up to 50 shareholders. This partnership can include individuals, corporate firms, or a mix of both. Besides, FZCo is one of the most preferred business structures in Dubai.
Companies that already have an existing business outside or within the UAE can start a branch in Dubai Silicon Oasis. Since a branch is the sub-division of a company, it is controlled and supervised by the parent company. Also, the business activities and trading names should match the parent company.
You read the post: Which is the Best Cheapest Free zone to Company Setup in the UAE?
Steps for Dubai Silicon Oasis company setup
Follow the below-mentioned steps to set up your business in Dubai Silicon Oasis Freezone –
Finalize the business activities
Prepare a list of activities that you want to carry out in the Free zone. Furthermore, this list must be approved by the DSOA for further legal procedures. Besides, you might need special approvals from external authorities for certain business activities that are beyond the limitations of DSO authorities.
However, if you need any information regarding these special approvals, you can connect with the business experts of Shuraa anytime.
Book a name for the company
Reserve a unique trading name for your company that’s indicative of your business activities. However, do not forget to follow the naming rules of the UAE government. Any failure in doing so may lead to grave consequences. Therefore, it is always best to cross-check with the registration authorities or business setup consultants in Dubai.
Secure an ideal office space
For starting a company in Dubai Silicon Oasis Free Zone, you will need an office or a co-working space. Hence, you can secure a workstation package apart from the Dubai Silicon Oasis company setup cost which is usually lower as compared to other free zones.
Consulting with Shuraa advisors can help you get more information on other packages as well as available affordable spaces in DSO.
Apply for a trade license
Approach the Dubai Silicon Oasis authorities to submit your request for a business license. While applying for the license, you also might need to secure external approvals for activities that are not listed under your license.
Complete the documentation and necessary paperwork
To meet the compliance requirements, complete the necessary documentation and paperwork required for the license application. This particular step helps in identity verification and assessment of the business model.
- Application form
- Passport copies
- UAE residence visa/entry permit
- Emirates ID
- Business plan
- Updated CV
- NOC from the existing sponsor
- Letter of intent
- Reference letter from the bank
- Memorandum of Association
- Local Service Agreement
- External approval, if any
To find out more about Dubai Silicon Oasis Company Setup cost and procedure, contact Shuraa Business Setup – one of the best business setup firms in Dubai, UAE. Speak with our expert consultants at +97144081900 or send a WhatsApp message to +971507775554. You can also communicate with us via email at [email protected].