guide to dubai industrial city dic free zone in 2024

DIC or Dubai Industrial City, is also known as the Dubai Industrial Park. This free zone in Dubai is located near the Jebel Ali International Airport. It was founded in 2004 and in 2015 it was completed. The DIC is grounded over an area of 560 million sq. ft., which hosts more than 200 companies. The companies are in the dimensions of base metals, warehouses, transportation zones, food and beverage, and also the extensive conservation zone with education, logistics, and other facilities as well.

The DIC is said to be the hub for all the investors all across the globe who aim to ace the global markets. It is also said to be a member of TECOM Investments and the largest ICT (Information and Communications Technology) hub in the region of North Africa (MENA) and the Middle East. The DIC, or Dubai Industrial Park, is also under the jurisdiction of the DTMFZA, i.e., Dubai Technology and Media Free Zone. Also, as we know already, the Dubai Free Zone is a base for huge MNCs, among the best companies like LinkedIn, Facebook, etc. DIC provides you with the best facilities and locations, which help you set up the industrial company and breed your growth by many folds in the region.

Benefits of the Dubai Industrial City (DIC) Free Zone:

• 100% return on the profits and the capital investments of the business.
• 100% foreign ownership.
• No liability for income tax or corporate tax.
• The imports of the equipment, raw materials, and machinery for the production are duty-free.
• There are great opportunities for the industrial sector.
• Advanced and high-end IT infrastructure.
• Tariff-free access is given to you by the Gulf Cooperation Council (GCC) and MENA markets for all the manufacturers, which adds 40% value locally, which is also a result of the UAE's Free Trade Agreement.
• It has the world's largest IP telephonic network.
• Well-structured environment
• There is no bureaucratic red tape.
• Flexible business laws.
• All business amenities are available under a single roof.
• Skilled labour and multilingual employees available as well.
• Visa facility and 24/7 security.

Types of Licences Available in the Dubai Industrial City Free Zone:

• Trading Licence: Allows you to do activities like buying, selling, and storing goods, etc.
• Service Licence: All businesses that offer services like auditing, accounting, management, consulting, and other professional services should have their service licence before they start up in DIC.
• Industrial Licence: It is the most important licence in DIC and allows the owners to perform manufacturing activities.
• Commercial Licence: allows you to perform commercial activities in DIC.

Types of Legal Entities in Dubai Industrial City Free Zone:

1. Free Zone Limited Liability Company (FZ-LLC):

• It should have at least one director.
• The shareholders can be any individual or any corporate person.
•  AED 50,000 would be the minimum capital requirement.

2. Branch of a Local Registered Company, a Foreign Company:

• It allows you to conduct the activities of the parent company in another city or country.
• In this case, no minimum capital is required.

What is the process for setting up business in Dubai Industrial City Free Zone?

There are mainly 6 locations for you to finalise your company location in the DIC:

• Chemicals Zone
• Base Metal Zone
• Machinery and Equipment Zone
• Mineral Products Zone
• Transport Equipment and Parts Zone
• Food and Beverage Zone

Process to set up business in Dubai Industrial City Free Zone

1. First, you need to contact the Business Park person and then you need to submit the application form with the required documents.
2. The required documents include the licence application form, a passport copy of the manager, directors, shareholders, and legal representative of your company, and your business plan.
3. After sending the legal documents to the business park person for the legal registration of the company, you will get the authority to issue the customer details of the company, office, payment, and the customer confirmation letter.
4. Then you need to sign the customer confirmation letter and then send it back to the authorities for proper review. Then you’ll also pay the required fees.
5. After this, the Department of Registration and Licencing in that Free Zone will review your documents, and then they will issue you the MOA, AOA, and bank introduction letter.
6. You need to sign the MOA (Memorandum of Association) and AOA (Article of Association).
7. Then you need to open a banned account in the name of your company, deposit the share capital in that account, and finally submit the proof of the letter that is issued by the business park person.
8. After the submission of proofs and other details, your lease and the business licence will be well prepared by the Free Zone Authority. The Certificate of Incorporation will then be issued by the authority alone.
9. After that, the registrar will sign the MOA and AOA of your company.
10. Your lease agreement will be provided by TECOM.
11. Then the final step for this is signing the lease agreement and then collecting your licence from the authority with the keys to the office that are allotted by TECOM Security.