Establishing a company in the Dubai Knowledge Park Free Zone

If you are one of the people who would like to know about establishing a company in the free zone, Dubai Knowledge Park, you can follow our article, which includes everything you need about establishing companies in the free zone, because Dubai Knowledge Park, which was established in 2003 as part of the TECOM Group, aims to develop a group Talent in the region and establishing the UAE as a knowledge-based economy. Dubai Knowledge Park is a unique center offering the best selection of programs in human resource management, consulting, training, and personal development. Students receive certificates of the highest caliber from top-tier business partners at Dubai Knowledge Park.

Dubai Knowledge Park provides flexible solutions supported by an innovative customer service team. With their help, Dubai Knowledge Park business partners have established training centres, institutes and human resources agencies to maintain and secure their market share in this thriving sector and Knowledge Village Dubai contributes to the prosperity and growth in the GDP of the Emirate of Dubai.

Establishing a company in the Dubai Knowledge Park Free Zone

Establishing a company in the Dubai Knowledge Park Free Zone

Establishing a company in the Dubai Knowledge Park Free Zone is an important investment step that has many benefits. In cooperation with Itqan Company, you can simplify this process and benefit from its experience in the field of establishing companies in the Emirates. Dubai Knowledge Park provides an ideal environment for business, as it has advanced infrastructure, flexible regulatory laws, and facilities for startups.

Through Itqan Company, you can obtain customized consultations that suit your company’s needs, starting with providing advice on the type of company suitable for your business, all the way to providing support in preparing the necessary documents, registration procedures, and obtaining the necessary licenses.

The Dubai Knowledge Park Free Zone is considered a hub for innovation and development, and in cooperation with Itqan Company, you can take full advantage of this encouraging environment for entrepreneurship and achieve success in the UAE market and the region.

Steps to establish a company in the Dubai Knowledge Park Free Zone

The steps for establishing a company in the Dubai Knowledge Park Free Zone vary slightly depending on the type of company and its activity, but here are general steps that can be followed:

1. Determine the type of company: Before embarking on any procedure, you must determine the type of company you wish to establish, whether it is a sole proprietorship, a joint stock company, a limited liability company, or a subsidiary company.
2. Choosing a name and ensuring its availability: Select a name for the company and ensure its availability and compliance with local standards and regulations.
3. Preparing the necessary documents: Prepare company incorporation documents such as contracts, approvals, and certificates required according to the type of company.
4. Submitting the application: Submit the application to establish the company to the competent authority in the Dubai Knowledge Park Free Zone, submitting the required documents and paying the relevant fees.
5. Obtaining licenses and permits: After approving the application, obtain the necessary licenses and permits to practice the specific business activity.
6. Open a bank account: Open a bank account for the company and deposit the required capital.
7. Securing the office and employees: If a physical office is needed, secure the office and employees and register them with the competent authorities.
8. Compliance with laws and regulations: Ensure compliance with all local and international laws and regulations related to the company’s activity.

These are general steps, and details and requirements can vary depending on the type of company and proposed activity. It is important to work in cooperation with Itqan Company’s consultants in establishing companies to ensure that the steps are implemented correctly and effectively.

The cost of establishing a company in the free zone

The cost of establishing a company in the Dubai Knowledge Park Free Zone depends on several factors, including the type of company and the size of the planned business activity. Below is an overview of the main factors that affect the cost of setting up a company in this free zone:

1. Company type: The cost varies depending on the type of company, whether it is a limited liability company (LLC), a sole proprietorship, or a branch of another company.
2. Commercial activity: The type and size of the proposed business activity affects the cost of establishing the company, as some activities may require special licenses that increase the cost.
3. Company size: The cost can also vary based on the size of the company, such as the number of shareholders, employees, and size of business activities.
4. Office space: If the company needs a physical office in the free zone, the rental cost is part of the total cost.
5. Additional Services: There may be additional services such as logistical support, legal and financial advice that can increase the cost.

It is important that you contact a company that specializes in establishing companies in the Dubai Knowledge Park Free Zone, such as Itqan Company, to obtain an accurate estimate of the cost based on your company’s specific needs and requirements. These companies provide the necessary consultations, help simplify operations, and guide you in making the right decisions to start your business at the lowest possible cost.

Steps to establish a company in the Dubai Knowledge Park Free Zone

Conditions for establishing a company in the free zone

Conditions for establishing a company in the Dubai Knowledge Park Free Zone vary according to the type of company and its planned activity. However, the general conditions that a free zone may require for establishing a company include:

1. Company type: The type of company, whether sole proprietorship, joint stock company, limited liability company, or subsidiary, must be determined according to the business activity and desired ownership structure.
2. Capital: Some companies may require a certain minimum capital, and the required financial documents must be provided to prove the company’s ability to bear the initial costs.
3. Licenses and Permits: The necessary licenses must be obtained to conduct the specific business activity, and some activities may require special permits.
4. Legal documents: Legal documents such as contracts, agreements and necessary certificates must be submitted to prove the legitimacy of the company’s establishment and internal structures.
5. Work office: Some companies may require the provision of a physical work office in the free zone, and the standards and conditions specified for this purpose must be met.
6. Visas: If employees are employed, they must be provided with the necessary visas, health insurance and social guarantees.

These are some of the general conditions that may be required to establish a company in the Dubai Knowledge Park Free Zone, but you should always check the exact conditions and details with Itqan before starting any incorporation procedures.

Commercial license to establish a company in the free zone

To benefit from the advantages of the Dubai Knowledge Park Free Zone and establish a company there, you must follow the following steps to obtain a commercial license :

• Determine the type of company: Before starting the process, you must determine the type of company you want to establish, whether it is a sole proprietorship, a limited liability company, or a joint stock company.
• Determine the commercial activity: Determine the commercial activity you wish to practice, and ensure that it matches the activity permitted in the free zone.
• Determine the trade name: Choose an appropriate trade name and ensure its availability and compliance with local standards and regulations.
• Preparing documents: Prepare the necessary documents to establish the company, such as the required contracts, agreements, and certificates.
• Submitting an application: Submit an application to obtain a commercial license for the company in the Dubai Knowledge Park Free Zone, submitting the required documents and paying the relevant fees.
• Application review: After submitting the application, it will be reviewed by the competent authority, and you may be asked to provide more information or documents if necessary.
• Receiving the license: After the application is approved, you will receive the commercial license for your company, and you can officially start working in the free zone.
  It is recommended to cooperate with companies specialized in establishing companies in the Dubai Knowledge Park Free Zone, as they can provide the necessary consultations and facilitate the process of obtaining a commercial license in a smooth and effective manner.

Free zones in Dubai

Free zones in Dubai are an essential part of the emirate’s advanced economic infrastructure, and are considered among the most important commercial and industrial facilities in the region. These areas are characterized by many advantages that make them a preferred destination for local and international companies to invest their business, including:

1. Tax exemptions: Free zones in Dubai provide full or partial exemption from taxes on income and profit, which contributes to increasing profitability and improving the financial results of companies.
2. Ease of establishment and operation: Free zones provide simplified and quick establishment procedures, while providing the necessary support and advice to companies to facilitate their operations and operate them efficiently.
3. Full ownership: Free zones allow foreign companies and investors to obtain full ownership rights to their businesses, without the need for a local partner.
4. Advanced infrastructure: Free zones are characterized by a modern and advanced infrastructure, which includes integrated logistical facilities and commercial support services such as factories, warehouses and offices.
5. Access to global markets: Dubai free zones provide opportunities for companies to access new markets and expand their international operations, enhancing opportunities for growth and expansion.

Thanks to these advantages and the many opportunities they offer, Dubai’s free zones are an ideal environment for companies to establish their businesses and achieve success and sustainability in the local and global market.

Papers for establishing a company in the free zone

Establishing a company in the Dubai Production City Free Zone requires submitting a set of documents and basic documents that prove legitimacy and provide the necessary information to the competent authorities. Here is a list of common papers required:

• Registration application: This is the official application to establish a company in the free zone. It includes information about the type of company, its activity, and details of shareholders and managers.
• Copy of articles of incorporation: A copy of the articles of association or corporate agreement must be submitted, which specifies the type of company and the rights and duties of shareholders and directors.
• Certificate of Incorporation: If the company is already registered in another country, a company quality certificate must be submitted.
• Passport copy: for both the main shareholders and managers of the company.
• Administrative authorization: If there is an agent representing the company, an administrative authorization proving his powers must be submitted.
• Lease contract or a copy of the utility bill: to confirm the address of the company’s headquarters in the free zone.
• Financial information: This can include the company’s most recent financial statements if they exist.
• Bank Reference Letter: to confirm the company’s bank account.
• Application form for opening a bank account: If necessary, an application form must be submitted to open a bank account for the company.

This is a basic list and the company may need to add other documents depending on the type of company and local laws in the free zone. It is always advisable to check the exact requirements for incorporation with Itqan before starting the process.

In conclusion of the article, establishing a company in the Dubai Production City Free Zone appears as a fruitful and innovative investment opportunity that attracts companies and investors from all over the world. This free zone provides an ideal business environment supported by operational and tax facilities and advantages that enhance opportunities for growth and prosperity. The advanced infrastructure and high-quality logistics services also provide the necessary support for companies to achieve their economic goals and aspirations.

By joining this vibrant and innovative environment, companies can benefit from the guidance and support provided by local authorities and official bodies, helping them build and develop their operations in a sustainable and successful manner. The growth and expansion opportunities available in Dubai Production City Free Zone make it an ideal destination for companies wishing to invest in Dubai’s dynamic and thriving market.

Frequently asked questions about establishing a company in the free zone