Dubai is a flourishing, vibrant city and the most cosmopolitan of all of UAE’s Emirates. The city-state has been fortunate to have a liberal and progressive thinking government that realized from a nearly time, the importance of foreign investment to drive development. They dreamt of a Dubai that would rival Western cities like London and New York as far as business and industrialization was concerned. To realize this dream, the rulers ensured an open economy, and also set up Dubai freezones to entice foreign investment.
Also Read about: Company Formation in JAFZA
These special economic zones generally have rules and regulations that are more liberal than normal. Let’s take a look now at Technopark at Jebel Ali in Dubai.
Built on a sprawling 21 million square meters of land, this special economic zone was created to promote research and development in technology, and to some extent, water management. The facility can house 60,000 permanent residents and 133,000 employees. It began functioning in 1985, and is managed by the Economic Zones World. Entrepreneurs who want business setup in Dubai Technopark can do so in one of these three segments – Trading in specified items, Professional or Industrial Activities. The main activities are one of the following: mobility, logistics, engineering, health, water and energy.
The business setup in Dubai Technopark has to be as one of the below mentioned legal entities:
- Limited liability company ( in accordance with UAE commercial companies Law )
- GCC national owned sole proprietorship
- Civil partnership firm for investment in intellectual faculties (in accordance with Federal Civil Transactions Law)
- Branch of a free zone entity
- Branch of a foreign company
The Technopark special economic zone lays heavy emphasis on R&D in technology and managing the scare water resources of the Middle East. What with having access to the resources of the finest academic institutions and international organizations and interacting with the best brains in the fields, working in the Technopark is an unparalleled experience.
Company formation in Dubai Technopark requires less paperwork and minimal hassle, as the rules and regulations in special economic zones are far more liberal. Let’s examine the special advantages of the Technopark at a glance:
- Easier granting of visas: the number depends on the type of facility leased
- Authorities provide land and office space on easy and renewable lease terms
- Water and power connections are provided at reasonable rates
- Strategically located close to Jebel Ali port, Al Maktoum International Airport and the JAFZA, logistics and transportation is a breeze
- Easy access by road (8 entry points), metro rail and by sea port
- Excellent sea to air transshipment facilities
- The self-contained township hosts posh hotels, lavish living spaces, shopping malls, educational institutions, well maintained roads with smoothly moving traffic and manufacturing units that are located away from residences – making it an excellent place to work and live.
- Efficient management of environmental resources, sustainable industrial development communication and IT, life sciences, socio-economic knowledge – the Technopark focuses on these core areas.
By business setup in Dubai Technopark, you can rub shoulders with some of the world’s leading researchers and innovators, and work together to deliver innovative solutions to improve life on the Earth.
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