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, no corporate tax, low import and export duties, state-of-the-art infrastructure, and easy access to talent.
Requirements for setting up a business in DSO
The requirements for setting up a business in DSO are relatively straightforward. Businesses need to:
- Choose a business name and legal entity type.
- Apply for a business license.
- Pay the required fees.
- Obtain the necessary visas for employees.
- Open a corporate bank account.
- Find and lease office space or industrial space.
Business name and legal entity type
Businesses in DSO can be any of the following legal entity types:
- Free Zone Company (FZC)
- Free Zone Limited Liability Company (FZ-LLC)
- Branch of a Foreign Company
- Branch of a Local Company
The best legal entity type for a business in DSO will depend on the specific needs of the business. For example, an FZC is a good option for businesses that are owned by a single individual, while an FZ-LLC is a good option for businesses that are owned by multiple individuals or entities.
To obtain a business license in DSO, businesses need to submit an application form and pay the required fees. The application form will require businesses to provide information about their business, such as its name, legal entity type, and activities. Businesses will also need to submit copies of their legal documents, such as their Memorandum of Association and Articles of Association.
The fees for setting up a business in DSO vary depending on the type of business license that is applied for. For example, the fee for an FZC license is AED 10,000, while the fee for an FZ-LLC license is AED 15,000.
Businesses in DSO need to obtain visas for their employees. The type of visa that is required will depend on the nationality of the employee. For example, citizens of certain countries can obtain a visa on arrival, while citizens of other countries need to apply for a visa in advance.
Corporate bank account
Businesses in DSO need to open a corporate bank account. This can be done with any of the banks that have a branch in DSO.
Office space or industrial space
Businesses in DSO need to find and lease office space or industrial space. DSO offers a variety of office space and industrial space options to choose from.
Setting up a business in Dubai Silicon Oasis is a relatively straightforward process. Businesses need to choose a business name and legal entity type, apply for a business license, pay the required fees, obtain the necessary visas for employees, open a corporate bank account, and find and lease office space or industrial space.
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Here are some of the reasons why you should choose BizDaddy to help you set up your business in DSO:
- Expertise: BizDaddy has a deep understanding of the business setup process in DSO and can help you navigate it smoothly.
- Connections: BizDaddy has a network of connections in DSO, including government agencies, business service providers, and other businesses. This can help you get the support you need to get your business off the ground quickly and easily.
- Reputation: BizDaddy has a good reputation in the industry and is known for its quality services.
If you are considering setting up a business in Dubai Silicon Oasis, I recommend contacting BizDaddy to discuss your needs. BizDaddy can help you choose the right solution and provide you with the support you need to launch a successful business.