Business set up in Dubai (Techno Park)
Business set up in Dubai (Techno Park) offers great opportunities for the investors. Dubai is considered as the region’s center of Business. The GDP of the country is growing at 15% annually. The growth of the country mostly driven by non oil fields. Techno Park is a member of Economic Zones World (EZW). The aim is to develop such a business point to assist the growth of Dubai’s economy by promoting scientific activities and increasing the usage of technology in the region. Many companies in Dubai and around the region are looking to set up business in Techno Park.
Types of License issued by Techno Park to grab Business opportunities in Dubai
Industrial Activities – Manufacturing and assembling of specified products.
Professional Activities – For specified professional activities.
Trading Activities – For import, export, distribution and warehousing.
Business set up in Dubai (Techno Park) provides a unique opportunity for the business men to grab it out.
Starting Business in Dubai (Techno Park)/ Types of companies formed in Techno Park
LIMITED LIABILITY COMPANY
• Can be formed with a minimum of two and maximum of 50 partners.
• The minimum share capital is 300,000 divided into equal number of shares with a face value of 1000.
• At least 51% of shares should be in the name of UAE nationals.
• Usually the management or managers are appointed by memorandum of association of the company, by a management contract or through a general assembly of the partners.
SOLE ESTABLISHMENT (COMMERCIAL/ INDUSTRIAL)
• Owned by an individual proprietor, who is liable for all the financial requirements.
• Only GCC nationals can become as owner.
A CIVIL COMPANY
• Formed as Civil Partnerships in accordance with the Federal Civil Transactions Law No.(5) of 1985 with its amendments.
• Activities involving the use or investment in intellectual faculties.
• Professional companies may be 100% foreign owned.
Different types of branch companies also can be formed in Techno Park.
• A Branch of a Free Zone Establishment (FZE).
• A Branch of a Free Zone Company (FZCO).
• A Branch of an L.L.C.
• A Branch of a Sole Establishment based in Dubai.
• A Branch of a GCC Company (the mother company should have a 100% GCC shares).
• A Branch of a Foreign Company.
Dubai Free zones offer number alternatives for the investors to choose his activity he wish to do.
Business set up in Dubai especially in Free zones is getting much priorities among the investors since the economy of the country booming.
Business set up in Dubai (Techno Park) or any new business ideas means more than just the introduction of something new. It means the exploration of new ideas or a change that brings about a new dimension of performance. Emirates Chartered Accountants Group is experts in the field of Business set up and Accounting and Auditing services. You can contact us at firstname.lastname@example.org for a free consultation.