H.H Sheikh Mohammed Bin Rashid Al Maktoum announced the formation of the Dubai Internet City in 1999. Established as a hub for information and communication technology (ICT) innovation, development of new ideas and knowledge for a digital future, DIC serves to connect markets across the region as well as the globe. The DIC community comprises Fortune 500 companies, start-ups, entrepreneurs, and facilitators.
The Dubai Internet City is the Middle East and North Africa (MENA) region’s largest ICT hub with progressive regulations that enable businesses to succeed. DIC also strives to empower small and medium-sized enterprises (SMEs), and draw in international ICT companies to Dubai.
Dubai Internet City delivers myriad benefits and features that serve to help companies set up AND grow their businesses. Some of these benefits are:
- Exemption from various taxes
- 100 per cent foreign ownership
- 100 per cent repatriation of capital as well as profits
- High quality infrastructure-related facilities like high-speed internet, digital voice services, etc.
- Metro Ethernet environment
- Business centers, commercial offices, and conference facilities
- No currency restrictions
- Rapid access to knowledge workers
- Company laws and legal framework conducive to business
- Quick immigration process
- Freehold offices for both sale and lease at moderate rates
With the aim of streamlining the process of setting up and smooth operations from the beginning, Dubai Internet City lends a helping hand to companies in various matters including office management and maintenance, licensing and registration, and government services like licensing, visa, traffic, and postal services.
- Software: This license encompasses activities related to developing, installing, and/or altering software products of either the company or a third party.
- Telecommunication and Network: This includes activities associated with development, installation, modification, and/or operation of networks or delivering connected services aimed at operating network-based applications or services for either the company or a third party.
- E-Commerce: This is for individual products and services provided to third parties via electronic media like a website, social media, internet search engine, etc. for enabling sales activities.
- IT Service: This type of license is for activities associated with development and/or provision of standardized, repeatable IT-based services. This could also include localization, security solutions, corporate learning, and training.
- Internet and Multimedia: The Internet and Multimedia license is for activities associated with development and/or distribution of multimedia or internet content. It may also include other activities such as distributing goods or services by the means of the internet.
The cost of setting up in Dubai Internet City can starts from anywhere between AED 5,000 to AED 10,000 and goes up from there, based on the various options incoming companies choose