Dubai Media City (DMC), a booming media and entertainment hub, has emerged as a magnet for entrepreneurs and investors looking to set up shop in the fast-paced city. DMC provides an unrivalled platform for businesses to prosper, thanks to its world-class infrastructure, strategic location, and supportive regulatory environment.
Procedure to Set Up a Business in Dubai Media City
Steps of procedure to set up a business in Dubai Media City
- Select a commercial Activity: DMC permits a wide range of commercial operations in the media, entertainment, technology, and associated areas. Choose an activity that is in line with your company’s aims and skills.
- Select a Business Entity Type: DMC supports a variety of business entity formats, including sole proprietorships, partnerships, and limited liability companies (LLCs). Each structure has different legal and tax repercussions, so select the one that best meets your company’s needs.
- Obtain Initial Approval: Submit an initial application form to DMC, along with necessary papers such as passports, company plans, and evidence of share capital. DMC will review your application and grant preliminary approval.
- Submit Final Documents: Prepare and submit final paperwork, including the Memorandum of Association (MoA), Articles of Association (AoA), and Board Resolution, once first approval has been given.
- Pay License costs: Pay your license costs and acquire your trade license.
Read More: Company Registration in Abu Dhabi
Requirements to start a business in Dubai Media City Free Zone
The following are the requirements for establishing a business in Dubai Media City:
- Visa Requirements: Entrepreneurs and investors may need visas to set up and run enterprises in DMC. Nation of origin, company operations, and visa sponsorship all influence visa choices.
- Share Capital Requirements: According to the type of business entity established, DMC requires a minimum share capital. LLCs, for example, demand a minimum share capital of AED 150,000.
- Requirements for Office Space: Businesses must have a physical office address within DMC. Coworking spaces, serviced offices, and dedicated office units are all office possibilities.
Business Entities Found in Dubai Media City for Company Formation
- Sole proprietorship: A sole proprietorship is a simple business form that is owned and managed by a single person.
- Partnership: A partnership is a commercial arrangement in which two or more people share ownership and earnings.
- Limited Liability Company (LLC): A popular option that provides its stockholders with limited liability protection.
- Branch Office: A foreign company branch is an extension of an existing foreign company that operates under the same name and legal structure.
For More: Dubai Virtual Company License
Advantages of Starting a Business in Dubai Media City
Some of the advantages of starting a business in Dubai Media City are:
- Complete Ownership: DMC allows for 100% foreign ownership of firms, eliminating the requirement for local partners.
- Tax-Free: DMC has a 0% corporate and personal income tax policy, making it a tax shelter for corporations.
- Profit Repatriation: Companies can freely repatriate their profits without limits or currency exchange regulations.
- Good Place: DMC is centrally placed in the centre of Dubai, allowing them quick access to global markets and transit networks.
- World-Class Infrastructure: DMC has cutting-edge infrastructure, such as high-speed internet access, advanced media production capabilities, and modern office spaces.
OnDemand International, a leading business setup consultancy, provides comprehensive services to assist you in successfully establishing your business in Dubai Media City. From the initial consultation to the final license acquisition, our team of seasoned professionals will walk you through every step of the process. We manage all of the complexity, allowing you to concentrate on growing your business.
The fees vary according to the type of business, legal structure, and office space requirements. In general, the overall cost ranges between AED 15,000 to AED 50,000.
Depending on the intricacy of the business structure and the accuracy of the relevant paperwork, the process normally takes 2-4 weeks.
Investor visas, entrepreneur visas, and employment visas are all options. Visa requirements vary depending on nationality and business activity.
The minimum share capital required is determined by the type of business entity selected. The minimum share capital for an LLC is AED 150,000.