Business Set up in Dubai Science Park Free Zone
Set up your business in Dubai Science Park Free Zone today with our expert guidance!
Dubai Science Park, formerly known as Dubai Biotechnology and Research Park, is the world’s sole commercial zone dedicated to life sciences. Developed in 2015 by the TECOM group, the DSP free zone offers cutting-edge technology and infrastructure for SMEs and multinational corporations.
Business establishment in Dubai Science Park Free Zone is not only cost-effective but is also attractive because of the various services offered. If you are looking to start a company in Dubai, DSP Free Zone is a great option. Let’s take you through the basics of the free zone and what it offers.
Why Set Up a Business in Dubai Science Park Free Zone?
Dubai Science Park (DSP) Free Zone is a premier destination for businesses in the science, energy, and environmental sectors. With a strategic location in Dubai and a business-friendly environment, DSP provides unparalleled opportunities for growth and innovation.
DSP is currently home to more than 500 companies in various sectors. Because of its strategic location, companies in Dubai Science Park open up new opportunities for businesses in markets of the Middle East and North Africa (MENA) region.
Companies in the DSP Free Zone have access to modern office spaces, laboratories, and facilities designed for scientific research and development. You can be part of a thriving community of like-minded businesses and professionals in the science and technology sectors.
What are the Benefits of Setting Up a Company in the DSP Free Zone
- 100% foreign ownership
- No tax on personal or corporate income
- Full repatriation of profits and capital
- Strategic location in Dubai
- Swift business setup process
- Access to world-class infrastructure
- No duties on imports and exports
- No VAT
- Flexible land/ office leasing options
- Continuous support from the DSP authority
- Quick visa issuance
- Wide range of business activities
Types of Licenses Offered by DSP Free Zone Authority
The Dubai Creative Clusters Authority (DCCA) regulates licensing activities in Dubai Science Park. The DCCA offers the following types of licenses:
- Professional License: For businesses providing services such as consultancy, R&D, and more.
- Industrial License: For manufacturing and industrial activities.
- Trading License: For companies involved in trading and distribution of products.
The licensing framework within the DSP Free Zone is flexible and it ensures regulatory companies for companies operating in the zone.
Business Activities Allowed in Dubai Science Park Free Zone
Dubai Science Park Free Zone supports a diverse range of business activities including:
- Research and Development
- Manufacturing
- Import and Export
- Storage
- Marketing and Sales
- Warehousing and Logistics
- Consultancy
- Management
- Technology and Innovation
- Healthcare Services
- Retail Shops
- Restaurants and Cafes
Types of Legal Entities in DSP Free Zone
Sharjah has various free zones and each zone offers support to various business activities. Here are some types of business activities allowed within the Sharjah Free Zones:
DSP Free Zone supports various legal entities such as:
- Free Zone Limited Liability Company (FZ-LLC): An independent legal entity with one or more shareholders.
- Branch of a Foreign Company: A branch office of an existing foreign company.
- Branch of a UAE Company: A branch office of an existing UAE company.
How to Set Up a Business in Dubai Science Park Free Zone [Steps]
Here’s a brief process of setting up a company in Dubai Science Park Free Zone
Choose a Business Activity
Determine the nature of your business and select the appropriate license. related to your business activity.
Select a Legal Structure
Decide on the type of legal entity for your business. You can choose to set up an FZ-LLC, FZCO, branch of a foreign company, or branch of a UAE company.
Register Your Business Name
Choose and register your company name with the DSP Free Zone Authority. Make sure the trade name you select complies with the free zone regulations.
Submit Required Documents
Provide the necessary documents, including passport copies, business plans, and proof of address to the free zone authority.
Obtain Initial Approval
You will receive initial approval from the DSP Free Zone Authority upon reviewing your application.
Lease Office Space
Select and lease office or laboratory space within DSP. The free zone offers plenty of facilities and ready-to-use offices.
License Issuance
After you are done paying the required fee, you will obtain your business license and commence operations in the free zone.
Dubai Free Zone License Renewal and Business Liquidation
You can apply for business license renewal in DSP which is very cost-effective. To apply for the renewal, you will need to submit an audit report, a signed lease agreement, and a renewal fee.
You can apply for the renewal through us if you are not physically present in the UAE. Make sure to get the renewal on time to avoid penalties and business closures.
Similar to the renewal, business liquidation services are also available if you wish to terminate your company. The process takes around 1 month to complete and it includes cancellation of visas, closure of bank account, and termination of lease agreement.
Start Your Business Today with Solutions FZCO!
If you think Dubai Science Park is for you, contact Solutions FZCO – one of the best business setup companies in Dubai to learn more about your options. At Solutions FZCO, we specialize in helping businesses navigate the complexities of setting up in Dubai Science Park Free Zone.
We provide end-to-end support, from initial consultation to business registration and beyond.
Contact us today to kickstart your business journey in one of Dubai’s most innovative free zones!
Start your Company Registration Today!
Are you ready to register your business in Dubai? Contact Solutions FZCO and let’s begin your company formation today! Experience a seamless company registration process and set a solid foundation for your dreams.