Dubai has become one of the world’s most attractive regions for business investors, as the local authorities have created an integrated system which offers investors tax exemptions and business-related facilities. Investors interested in opening a media company in Dubai can start their activities in Dubai Media City (DMC) Free Zone, a region established in 2000. Our lawyers in Dubai can present to you the legal system under which DMC functions.
Dubai Media City Free Zone
DMC functions under the authority of Dubai Technology and Media Free Zone and now it is the leading region in the field of media and advertising in the Middle East. With more than 1,400 registered companies, DMC is the home of businesses such as: marketing services, printing, publishing, music, film, broadcasting, media, and advertising.
In order to open a company here, the investors need to have a permit or a license, which will be issued by the Dubai Technology and Media Free Zone Authority; our lawyers in Dubai can offer you assistance in this matter.
Here is a video with information about how you can open a company in DMC Free Zone with support offered by our advisors:
Legal entities in DMC Free Zone
The DMC authorities provide licenses of functioning for the following legal entities:
- • free zone limited liability company – an independent legal entity, in which the shareholders can be individuals or companies;
- • branch of a company – a type of business which is dependent on the parent company and where the share capital is not required;
- • freelancer – a person can be recognized as a legal entity whocan receive a freelance permit, in order to perform a certain type of media-related activity.
There are several benefits to working for yourself in the UAE under a freelance visa for Dubai, from location independence to the highest level of job satisfaction. A few of these are job flexibility, the freedom to work anywhere in the country, as well as in free zones of different Emirates.
Taxes for companies in DMC
DMC provides an attractive legislative system, in which the companies set up here are not required to pay taxes that are normally paid in other countries. The most relevant incentives are the following:
- • foreign companies can have 100% foreign ownership;
- • 100% repatriation of the profits;
- • 0% corporate tax (applicable for the first 50 years of activity in DMC) if certain requirements are met;
- • no import duties;
- • no currency restrictions;
- • no personal income tax.
The company registration process in DMC is fast and the legislative system applicable here is easy to understand, but if you need to find out more, you can contact our lawyers in Dubai, who can represent you throughout the incorporation procedures.
Are you interested in the Dubai investment visa? The regulations for this type of residence permit state that only people who purchase shares in an existing company for a minimum of AED 72,000 or who are forming a company with a capital investment of the same amount are eligible for this visa.