Dubai Internet City
TECOM Investments, a Dubai Holding subsidiary, owns Dubai Internet City (DIC). In October 1999, Dubai Internet City was established, and in October 2000, it opened its doors. Dubai Internet City is now one of the world’s leading technology business and community hubs, catering to high-tech companies and innovative start-ups that represent Dubai’s vision. The DIC directory has developed into a regional giant hub for innovative industry companies. Although continuing to draw global brands, Dubai Internet City has laid out a roadmap to help startups and ambitious entrepreneurs drive innovation. After all, the in5 innovation center, a world-leading tech startup accelerator, is located in Dubai Internet City.
Some of the primary advantages of setting up a company in Dubai Internet City is:
- 100% foreign ownership
- Full repatriation of capital and profits
- No tax on the corporate income for 50 years
- No tax on personal income for 50 years (guaranteed by law)
- Freehold offices for sale and lease at competitive rates. Flexible office solutions
- DIC has a pre-existing infrastructure geared towards information technology companies
Some major types of business license you can open within Dubai Internet City are:
- Software related Activities which could be related to installing, modifying parts of softwares, creating a brand new software for any company commercial purposes.
- Internet business activities involving the creation and/or distribution of web or multimedia material Distributing products or services over the internet, such as by offering an online forum and serving as an intermediary for several companies or individuals, are examples of other activities.
- Telecommunication and Network business activities relating to designing, installing, updating, and/or running networks, as well as offering similar facilities for operating network-based software or services for oneself or for others.
- E-Commerce license refers to activities involving the selling of individual services and goods to third parties through electronic media such as an internet search engine, portal, website, social media, and so on.
- IT business service activities include security solutions, translation, training, and organizational learning, as well as activities related to creating and/or delivering structured repeatable IT-based services.