Dubai Internet City Company (DIC COMPANY)
Thank you for your interest in our services.
Dubai Internet City is the Middle East and North Africa’s largest Information and Communications
Technology (ICT) cluster. DIC provides a comprehensive ecosystem, infrastructure, and
environment for companies who wish to set up their ICT business in the UAE.
DIC enables an international investor to set up his own company or branch within the Free Zone
entitling him to execute his business within the Free Zone according to his license, granted amongst
others with the following benefits:
- 0% corporate and personal income tax rate, import or export taxes
- 100% business ownership
- 100% capital repatriation
- Freehold offices for sale and lease at competitive rates
- Visa
Please find some information below regarding the mandatory requirements to set up a company in
Dubai Internet City, to open a bank account as well as its process. Please do not hesitate to ask
for our price list for our services rendered.
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REQUIREMENTS
COMPANY NAME
Please provide us with three different company names.
SHARE CAPITAL
Minimum of AED 50’000.00 (USD 13’000.00).
To be deposited in the company’s bank account in UAE.
Share capital can be withdrawn at any time.
MAIN ACTIVITIES
Software - related to developing, installing, and/or modifying software products of
their own or of a third party.
Internet and Multimedia - related to developing and/or distributing internet or
multimedia content, including distributing goods or services via the Internet, e.g. by
providing an online platform and acting as an intermediary between companies or
individuals and may include providing different applications through a network.
Telecommunication and Network - related to developing, installing, modifying,
and/or operating networks or providing relevant services designed for operating
network-based applications or services. The manufacture and direct trading of
physical components and products into UAE market is not allowed.
IT Service - related to developing, providing standardized, repeatable IT-based
services, including security solutions, localization, training and corporate learning.
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INDIVIDUAL SHAREHOLDER/S
Minimum of one shareholder to be appointed.
Each shareholder has to provide the following documents:
• Passport copy (passport valid for at least 6 months)
• Original stamped bank reference letter not older than three months (please note:
a downloaded and printed out copy is not sufficient).
• CV.
• Registry Identification Code (RIC) Form, generated by the authority, to be
notarized or undersigned in front of DIC.
In case the shareholder holds already a UAE visa, the following additional
documents are required:
• Copy of the Visa page and Emirates ID Copy
• No objection letter from existing sponsor
CORPORATE SHAREHOLDER/S
Minimum of one shareholder to be appointed.
Each shareholder has to provide the following documents:
• Certificate of Good Standing, Certificate of Incumbency, Memorandum of
Association (MoA), license, share certificate, Board Resolution for the
incorporation, etc..
• Only the Board Resolution has to be attested by the notary and super legalized
by the UAE Embassy in the country of registration of the shareholder. All other
documents need only to be notarized.
• Registry Identification Code (RIC) Form, generated by the authority, to be
notarized or undersigned in front of DIC.
•
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DIRECTOR/S
Minimum of one Director to be appointed
Each Director has to provide the following documents:
• Passport Copy (passport valid for at least 6 months), together with a copy of the
entry stamp page of the arrival in the UAE (not older than three months).
In case the manager holds already a UAE visa, the following additional documents
are required:
• Copy of the Visa page and Emirates ID Copy
• No objection letter from existing sponsor
*Only persons with a higher educational degree can be appointed as Manager/s. The
educational certificate has to be legalized at the UAE Embassy and MoFA.
MANAGER
One Manager has to be appointed
The manager has to provide the following documents:
• Passport Copy (passport valid for at least 6 months), together with a copy of the
entry stamp page of the arrival in the UAE (not older than three months).
In case the manager holds already a UAE visa, the following additional documents
are required:
• Copy of the Visa page and Emirates ID Copy
• No objection letter from existing sponsor
*Only persons with a higher educational degree can be appointed as Manager/s. The
educational certificate has to be legalized at the UAE Embassy and MoFA.
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BUSINESS PLAN
A business plan has to be submitted to DIC while setting up the company.
In general, the business plan has to contain the following:
• Information about the product, vendors, strategic alliances and staff
• Information about the market segment and marketing
• Background of the management team, shareholders, consultants/Advisors
• Financial Plan
*We are happy to assist you in setting up the business plan.
BANK ACCOUNT
• Passport Copies (passport valid for at least 6 months), of the signatory/ies and
shareholder/s.
• Shareholder’s bank statements for the last six months.
• Business Information
o Three suppliers (name, address, website)
o Three customers (name, address, website)
o Brief description of the business activity/ies (i.e. services or name of products,
countries in which the activity/ies will be conducted
o Estimated turn over for the first year
o Shareholder’s CV (sometimes requested).
• Shareholder Resolution / PoA to open a bank account
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PROCESS / DOCUMENTS TO BE SIGNED BY THE CLIENT/S
To start off the procedures, the following documents are to be submitted:
• Passport copy of the shareholder/s and manager/s
• Application for License
• Business Plan
• Core activity
On submission of the above, the project will be reviewed by a committee. Once the
approval is granted additional documentation for final approval is to be submitted.
*All documents to be signed by the director/s and shareholder/s will be sent to them in
the step they are required with detailed information where to undersign, initial, etc..
*MoA Shareholder Resolution and the Specimen Signature Form should be undersigned
by the shareholder in front of DIC, or notarized and attested by the UAE embassy of his
home country, or he grants a PoA to undersign on behalf of him.
TIME FRAME
INCORPORATION
The time for incorporation takes 3 - 4 weeks provided that all documents are submitted
as requested.
BANK ACCOUNT
The time for setting up a bank account takes 3 weeks provided that all documents and
information are submitted as requested:
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