Dubai Techno Park is one of the FTZ with a special status. Established in 2007, it is called upon to attract a large number of talented specialists of the region and ensure the development of the UAE economy in the following areas: oil, gas, desalination, health, engineering and logistics. On the DTP area, which is 21 million square meters. with 60,000 permanent residents and 133,000 people employed.
Business Formation in Dubai Techno Park (DTP)
SMEs, corporates, and multinational conglomerates in the tech industry opt to operate in Dubai Techno Park to avail a number of advantages including:
- Privacy protection – the business district is popular with entrepreneurs conscious in the disclosure of confidential information as the free zone does NOT maintain an open directory for company ownership including shareholder details.
- Foreign ownership – this is one of the major reasons why the free zone has experienced a rapid economic growth. The district allows foreign investors to retain full ownership of company shares.
Types of licenses issued by this FTZ:
- industrial license: for the production and packaging of these products;
- professional license: for the realization of professional activities;
- trade license: for import, export, distribution and storage of a certain list of goods.
Legal Entities in Dubai Techno Park (DTP)
- Limited Liability Company
- Sole Establishment
- Civil Company
- Branch Office
The benefits of setting up a company in DTP
- 100% foreign ownership
- 100% repatriation on capital and profits
- No restrictions on currency and also hiring foreign employees.
- Ideal location for investment and also business development.
- One-stop shop (including licensing and also related government services)
- Easy availability of visa and also can open a bank account in Dubai
Business Setup Requirements & Procedure
- Initial approval certificate
- Trade name certificate
- Copy of passport for general manager
- Duly notarized resolution for business registration and Power of Attorney in favor of appointed general manager
- Ministry of Economy fee payment receipt
- Bank guarantee from a banking facility