Dubai is a flourishing and the most cosmopolitan emirate in the UAE. The progressive thinking government of Dubai realizes the importance of investment in the development of technology and innovation. This futuristic thought has given rise to TechnoPark in the heart of Dubai Industrial Zone. Dubai TechnoPark (TP) is still under construction and covers an area of 21 million square meters of land. The main purpose of this innovation center in Dubai is to provide for the local and foreign investors who are willing to invest in modern technology and infrastructure. Some of the greatest techno-based companies have already started their operations in Dubai TechnoPark.

Dubai TechnoPark is a member of Economic Zone World, which functions under Dubai World, one of the largest holding companies in the world. Dubai TP is a platform for the development and invention of modern technologies for the betterment of life. This Dubai free zone aims at providing a flexible environment for the companies involved in the production of technology.

Dubai TechnoPark, also called National Industrial Park (NIP), has been formed by a decree issued by the Ruler of Dubai on March 7, 2016, focusing on trade and manufacturing industries. Dubai TechnoPark free zone is a facility providing housing for 60,000 residents and employment for 133,000 employees in Dubai. TechnoPark of Dubai is a place for innovation which makes you think beyond your limits for you to build a successful business.

Benefits of Setting Up a Business in Dubai TechnoParks

The free zone is driven towards the development of future technologies and supporting companies which have their operations in this sector. Here are a few reasons advantages of setting up your tech company in Dubai TP:

100% foreign ownership of industrial units in case of a branch of a foreign company, or a free zone company

0% percent corporate tax rate

Freedom of capital and profit repatriation

No currency restrictions

No restrictions on hiring foreign employees

Long-term lease agreement up to 15 years

One-stop shop (including licensing and related government services)

Easy availability of visa service

Great road connectivity (having 8 entry points)

Strategic location near the Jebel Ali Airport, which grants it the advantage of super-convenient air connectivity. It also has easy access to seaports and transportation through the sea.

Permissible Legal Entities in Dubai TechnoPark

1.Limited Liability Company

2.Sole Establishment (Commercial/Industrial)

3.Civil Company

4.Branch Company

Branch of a Free Zone Establishment (FZE)

Branch of a Free Zone Company (FZCO)

Branch of a Foreign Company

Branch of a Limited Liability Company (LLC)

Branch of a Sole Establishment based in the Emirate of Dubai

Branch of a GCC Company (the mother company should have 100% GCC shares)

Types of Licenses in Dubai TechnoPark

Industrial License

Professional License

Trading Activities License