When an expatriate investor thinks of launching a new business or growing an existing one abroad, Dubai, the United Arab Emirates commercial centre, quickly comes to mind. As with the business opportunities Dubai offers to the rest of the world, there are many benefits for entrepreneurs who choose the emirate for their company’s location.
Dubai Silicon Oasis won’t let you down if you want to launch a retail store, a perfume company, an event management business, an accounting, and auditing firm, a real estate firm, or an e-commerce venture.
What is the Dubai Silicon Oasis?
The DSO Free Zone, which is 7.2 square kilometers in size, was created in 2003 by the Emirati government as a designated area for technological innovation and commercial expansion.
The DSO, one of Dubai’s most sought-after sites, is a great spot to start a business. The Free Zone is home to Dubai’s technology park, which is populated with tech enterprises left and right. Here, you may discover people with histories in corporates, startups, and SME businesses.
The location provides communal amenities and tech-related facilities in addition to contemporary housing, forming a hybrid-free zone that can be used for both residential and commercial purposes.
What are the reasons to start a business in the Dubai Silicon Oasis?
If you want to set up a business at Dubai Silicon Oasis, then keep reading to know about a few benefits. Your firm may have an advantage if you choose DSO as the location to create it. Apart from that, another advantage of the Dubai Silicon Oasis company is the low setup cost. You may look at the list of some of the benefits of company formation in DSO and how it can impact your business.
- Main Benefits
Businessmen who decide to establish a company in DSO may take advantage of 100% foreign ownership of their enterprise, 100% capital repatriation, quick business setup and licensing, no personal or corporate income taxes, efficient customs clearance, staff visa processing, etc.
These are a few of the DSO free zone advantages.
- Great Location
It is said that Dubai is the ideal site for it since it is close to the intersection of the commerce routes between Europe and Asia. With the intention of aiding in promotion, it was founded. Modern technology-based sectors with room to expand further abound in Dubai.
It is advantageously situated close to major corporate zones and the Dubai Airport. Additionally, DSO has a room accessible for residential housing.
- Business Quality is High
It has been operating for more than ten years and is regarded as “one of the premier centers of sophisticated electronic invention, design, and development” worldwide.
The atmosphere of Dubai Silicon Oasis is designed primarily to support businesses that are technology-focused.
What are the different types of licenses in the Dubai Silicon Oasis?
Businesses may carry out a variety of operations as long as they have the appropriate DSOA permits.
- License for Industry
With this license, the registered company is permitted to import raw materials, produce, handle, assemble, package, and export the finished product.
- License for Service
This enables the registered firm to provide the designated services exclusively.
- License for Trade
This license enables the registered business to carry out activities linked to the import, export, and distribution of licensed goods and commodities.
- A Particular License (Business Operation License)
Businesses that have already registered with the Dubai Economic Department are eligible for this. The license allows these businesses to operate under a certain DSOA administrative jurisdiction.
How to renew the license for the Dubai Silicon Oasis?
Businesses in the DSO free zone may renew their licenses easily and at a very low cost. Beginning with your company’s second renewal, you will need to submit an audit report annually.
You must pay the renewal fee and submit the facility lease agreement that has been signed in order to complete the renewal process for your business. One benefit is that you don’t need to be physically present in the UAE to renew; you may do it through an agency.
Firms can considerably benefit from having a thorough grasp of Dubai Silicon Oasis free zone company registration and licensing expenses when creating a budget proposal.
Businesspeople must follow a process in order to set up a legitimate business in Dubai Silicon Oasis when establishing a company in the free zone there. It is not advised to treat commercial premises in Dubai lightly because this is a responsibility that has to be managed carefully.