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Dubai Techno Park (DTP)

Dubai Techno Park is an information technology park established in 2002. The purpose of Dubai Techno Park is to advance the technological development within the commercial zone. The whole development covers an area of 21,000,000 sq.m. (230,000,000 sq. ft.) of land, about 30% of which is open space areas. Dubai Techno Park is an industrial complex, located in the heart of Dubai's industrial zone, Jebel Ali.

Currently, Techno Park is home to some of the world’s most high-profile companies specializing in technology, oil, gas and petrochemical industry and other industries, which makes Techno Park one of the largest industrial hubs in the Middle East.

Types of company formation within DTP:

1. A Limited Liability Company:

The number of shareholders should be two to fifty. The liability of the shareholders is limited to their share participation in the capital, however, at least 51% should be owned by a UAE national.

2. A Sole Establishment:

Sole establishment should be owned by a sole owner who is liable for all the establishment liabilities. The owner must be a GCC or UAE national.

3. A Civil Company:

For activities involving the use of professional skill acquired by education and experience in a specific field such as business consultancy, a civil company can be formed as civil partnerships in accordance with the Federal Civil Transactions Law No. (5) of 1985 with its amendments. Professional companies may be 100% foreign owned.

4. Branch Office:

  • A Branch of a Free Zone Establishment (FZE).
  • A Branch of a Free Zone Company (FZCO).
  • A Branch of an L.L.C. (covers all Limited Liability Companies in UAE).
  • A Branch of a Sole Establishment based in the Emirate of Dubai.
  • A Branch of a GCC Company.
  • A Branch of a Foreign Company.

Business benefits of setting up a company within DTP:

  • 100% foreign ownership of industrial units in case of branch of a foreign or a free zone company.
  • 0% percent corporate tax rate.
  • Capital and profits may be repatriated.
  • No currency restrictions.
  • No restrictions on hiring foreign employees.
  • Long-term lease agreement up to 15 years.
  • World-class infrastructure and single-window clearance.

UAE Freezones | 👁 1333 | Posted April 9, 2018 | Share on Facebook | Twitter | Google+

| Modified: April 9, 2018 | Author: