Steps to set up in DIAC
Setting up one of these entity types in Dubai International Academic City (DIAC) involves several steps and procedures. There may be some specific requirements for each type individually however, here's a general overview of the process:
- Choose Your Business Activity i.e. a university, college, training center, research facility, or any other educational institution.
- Choose Legal Structure or Freelance Permit
- Choose a Location - DIAC offers various options, and the cost will depend on the size and location of the space.
- Register Company
- Opening a Bank Account
- Process visas for employees
To register your company in DIAC, you will need to go through the following steps:
- Submit the necessary documents to the Dubai International Academic City Authority (DIAC Authority). These documents usually include your business plan, passport copies of shareholders and directors, and any other required documents.
- DIAC Authority will review your application and issue an initial approval letter if everything is in order. This letter outlines the next steps and requirements.
- Prepare and sign the legal documents, including the Memorandum of Association (MOA) and other relevant contracts.
- Pay the relevant license fees and other associated costs to DIAC Authority.
- If you plan to have employees, you will need to apply for visas for them through DIAC. This process typically includes medical tests and other requirements.
- Once all requirements are met, and fees are paid, DIAC Authority will issue your business license.
Freelance Permit in DIAC
The Dubai Knowledge Park’s freelancer permit (GoFreelance) allows freelancers to get access to opportunities and to find and bid on projects across the UAE. The Freelance Permit in DIAC allows educators to operate independently as an individual rather than under a company name.
To obtain a Freelance permit in DIAC you will need to ensure you meet the criteria including having the necessary qualifications, experience, or expertise in your field. This registration process may involve providing your personal details, business activity, and other required information.
Freelance Permit Education Activities:
- Education Advisor
- eLearning Advisor
- Executive Coaching
One thing to consider is as a freelancer you will be required to register with Dubai Creative Clusters Authority (DCCA) through its dedicated portal. DCCA exists to promote and develop creative industries in Dubai.
Benefits of Dubai International Academic City
- 100% Foreign Ownership
- 50-year corporate tax holiday (mainland business subject to 9% CT)
- Experience with educator and faculty visas and residency
- Facilities in DIAC are varied – land plots, commercial floor space, hot desks
- Industry relevant networks and events – Career fairs
- TECOM Group In5 Centre – Business Incubation programme