Dubai Silicon Oasis (DSO) is a free zone in Dubai, United Arab Emirates, that is dedicated to technology and innovation. DSO offers a number of benefits to businesses that choose to set up there, including 100% foreign ownership, no income tax, and no corporate tax.
However, there are also some fees involved in setting up a business in DSO. These fees are designed to cover the costs of providing services to businesses in the free zone.
Types of fees
There are two main types of fees involved in setting up a business in DSO:
- License fees: These fees are charged by the DSO government and are required to obtain a business license. The specific license fee will vary depending on the type of business and the number of employees.
- Service fees: These fees are charged by the DSO government and private sector service providers for services such as visa processing, office space rental, and business setup assistance.
Here is a breakdown of some of the specific fees involved in setting up a business in DSO:
- General Trading License: AED 12,000
- Professional License: AED 15,000
- Industrial License: AED 20,000
- Visa processing: AED 2,000 per employee
- Office space rental: Starting from AED 1,550 per square meter per year
- Business setup assistance: Starting from AED 3,000
In addition to the fees listed above, there are also some additional costs that businesses may need to factor in when setting up in DSO, such as:
- Bank account opening: AED 1,000 – AED 2,000
- Company formation: AED 2,000 – AED 5,000
- Accounting and auditing: AED 5,000 – AED 10,000 per year
The total cost of setting up a business in DSO will vary depending on the type of business, the number of employees, and the services that the business needs. However, businesses can expect to pay a total of AED 20,000 – AED 50,000 to set up in DSO.
Saving money on setup costs
There are a few things that businesses can do to save money on setup costs in DSO:
- Choose the right license: Businesses should choose the right license for their type of business and number of employees. For example, businesses with a small number of employees may be able to save money by choosing a General Trading License instead of a Professional License or Industrial License.
- Negotiate with service providers: Businesses should negotiate with service providers to get the best possible rates. For example, businesses may be able to negotiate a discount on office space rental if they sign a long-term lease.
- Get professional help: Businesses may be able to save money by getting professional help with setting up their business in DSO. A qualified business setup consultant can help businesses choose the right license, negotiate with service providers, and complete all of the necessary paperwork.
Setting up a business in Dubai Silicon Oasis can be a great way to take your business to the next level. However, it is important to be aware of the fees involved in setting up a business in DSO. By following the tips above, businesses can save money on setup costs and get their business off the ground quickly and easily.
BizDaddy is a leading white label exchange provider that has helped hundreds of businesses set up their own cryptocurrency exchanges. BizDaddy also has a team of experienced professionals who can help you set up your business in DSO and take advantage of all the benefits that the free zone has to offer.
BizDaddy can help you choose the right license, negotiate with service providers, and complete all of the necessary paperwork. BizDaddy can also help you with other tasks such as visa processing, office space rental, and accounting and auditing.
If you are considering setting up a business in DSO, I recommend contacting BizDaddy to discuss your needs. BizDaddy can help you save money on setup costs and get your business off the ground quickly and easily.