Dubai Techno Park Free Zone in 2024: Your Gateway to Business Success

The 'Dubai Techno Park Free Zone in 2024' is the most cosmopolitan and flourishing Emirates in the United Arab Emirates (UAE). The Dubai government makes constant efforts to develop and grow technology and innovation. The DTP is said to be part of the Dubai Industrial Zone. It is still under construction, grounded in more than 21 million sq. ft. of land. Its primary purpose is to cultivate a sense of innovation in Dubai. It will also enable local and foreign investors to invest in modern infrastructure and technology. 

Moreover, the most significant companies from all across the globe have already made their mark in Dubai Technopark as well. 

• The DTP is also a member of the Economic Zone World, which works under Dubai World, one of the largest companies in the world. 
• The Dubai TP is the platform for developing the standards of the people. It also aims to provide a flexible work environment for companies in the dimensions of technology production.
• The National Industrial Park is another name for the Dubai TP. It was established by a decree issued by the Ruler of Dubai on March 7, 2016. It had a main focus on the manufacturing and trade industries. 
• The DTP provides housing for up to 60,000 residents and employment opportunities for about 1,33,000 employees in the mighty land of Dubai.

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Benefits of Setting Up Business in the Dubai Techno Park (DTC) Free Zone:

• Freedom of the return on the capital and the investment.
• 0% tax rate on the corporate tax.
• 100% ownership of the industrial units in the free zone company or the branch of the foreign company. 
• There are no restrictions on the currency.
• Ease of getting visa services.
• The best solution is to combine multiple dimensions into one, like government services and licencing services.
• The long-term lease agreement is for up to 15 years.
• It has the best discreet location near the Jebel Ali Airport, which also gives it the immense advantage of convenient air connectivity.
• You also have easy access to seaports and sea transportation.
• The best road connectivity is also there, with eight entry points.

Which Legal Entities Are Permitted in the Dubai Techno Park (DTC) Free Zone?

1. Limited Liability Company: 

• It should have shareholders ranging from 2 to 50.
• The required minimum share capital is AED 3,00,000, which must be equally divided into the AED 100 minimum face value shares.
• Also, the local sponsor should hold 51% of the shares.

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2. Civil Company: 

• It is also based on the Federal Civil Transactions Law No. 5 of 1985, with modifications. 
• It is the best fit for all activities relating to acquired information, intellectual faculties, or skill use. 
• Professional firms may also be completely owned by foreign members.

3. The Sole Establishment (Industrial/Communication):

• It is owned by those who are authorised and responsible for business operations.
• It is a must that the owner be a Gulf Cooperation Council (GCC) national.

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4. The Branch Company:

1. Branch of a Free Zone Company (FZCO)
2. Branch of a Free Zone Establishment (FZE)
3. Branch of a Foreign Company
4. Branch of a Limited Liability Company
5. Branch of a GCC company having the mother company with 100% shares.
6. Branch of a sole establishment based in the Emirates of Dubai.

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Industry Clusters

Dubai Techno Park Free Zone is organised into industry-specific clusters, each dedicated to fostering collaboration and synergy among businesses operating within the same domain. These clusters include:

1. Information and Communication Technology (ICT) Cluster:

Catering to IT services, software development, and technology consulting companies, this cluster forms the backbone of Dubai's digital ecosystem.

2. Energy and Environment Cluster:

Focusing on renewable energy, clean technologies, and sustainable solutions, this cluster is vital in advancing the UAE's commitment to environmental preservation.

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3. Biotechnology and Pharmaceuticals Cluster:

Dedicated to medical research, biopharmaceuticals, and healthcare technologies, this cluster significantly advances regional healthcare.

Which types of licences are in the Dubai Techno Park (DTC) Free Zone?

• Industrial Licence: allows you to do the production of any technological products or the assembly of the products in Techno Park Dubai. 
• Professional Licence: allows you to carry out any related technology-related or professional activities.
• Trading Activities License: this allows you to get involved in the import, export, storage, or distribution of tech items. 

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Conclusion

Dubai Techno Park Free Zone emerges as a thriving ecosystem where technology-driven enterprises can flourish and thrive. With its strategic location, state-of-the-art infrastructure, and business benefits, the free zone creates fertile ground for innovation, research, and technological advancement. Dubai Techno Park Free Zone stands as a beacon of possibilities and opportunities for businesses seeking to be at the forefront of technology and propel their growth to new heights.

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