Dubai Technology Entrepreneur Center (DTEC) is an innovation hub situated within the Silicon Oasis Free Zone, specifically designed for IT startups. It offers an ideal environment to launch and grow your business amidst a dynamic community in Dubai, providing both residential and business facilities within the same area.
DTEC supports startup development and investment opportunities through its specialized department, which offers funding to revenue-generating startups. As a DTEC member, you gain access to a range of facilities and benefits.
DTEC offers various workspace options tailored to your needs:
Within DTEC, you have access to modern business facilities available 24/7, including:
Additionally, DTEC hosts a variety of acceleration programs, professional events, and social gatherings on a monthly basis.
It's important to note that after 5 years, you will need to transition to a full-time physical office within Silicon Oasis. This will grant you the opportunity to have your own office of any size and expand your team if necessary.
DTEC specializes in a narrow range of activities, fostering a vibrant and focused community. The available options include:
To ensure your business qualifies for DTEC registration, it's highly recommended to consult with business setup consultants in Dubai. Their professional advice will help you find the right solution and increase the likelihood of approval.
DTEC's pricing structure sets it apart from other Dubai free zones offering the cheapest package for visa eligible companies in Dubai.
Here are the setup costs for DTEC companies:
Package | Number of visas | Price, AED |
---|---|---|
Flexi-desk | 2 | 17,875 |
Designated desk | 3 | 24,200 |
Permanent office | One visa per 8 sqm | 47,820 |
The registration process for DTEC begins with an initial approval, which determines if your business model qualifies for the free zone. You'll need to provide the following documents:
Once the initial approval is granted, the company owner must visit in person to complete the registration process.
Alternatively, a Power of Attorney holder can handle the formalities on your behalf.
Typically, company registration in DTEC takes 1-2 weeks. There are no nationality restrictions, allowing anyone to apply for the initial approval.
DTEC follows the visa procedures and costs set by the Silicon Oasis free zone.
Visa costs in DTEC:
DTEC fees | AED 3,200 |
Refundable deposit | AED 1,500 |
Medical check | AED 638 |
Emirates ID | AED 390 |
Total | AED 5,728 |
Please note that some nationalities may be required to provide an attested birth certificate upon Immigration request. The company manager must also provide a legalized educational degree during the visa processing. The manager can hold a UAE residence visa in DTEC or any other location within the UAE.
Renewal of your DTEC company can be done remotely, eliminating the need for your personal presence. Simply make the payment and provide the originally signed lease agreement for your facility. The renewal process typically takes 3-4 working days.
DTEC License renewal fee | AED 5,000 |
Flexi desk renewal | AED 7,875 |
Establishment card renewal | AED 2,200 |
Renewal assistance fee | AED 3,750 |
Total | AED 18,825 |
DTEC offers flexibility when it comes to making changes to your business. You have the option to modify the following aspects:
Most amendments require the personal presence of the company owner or general manager.
If you decide to liquidate your DTEC company, a liquidation fee of 2,000 AED will be charged at the time of license registration. This fee covers all the costs associated with company cancellation, including advertising for liquidation.
Before canceling the company, you must close all the visas associated with it and provide an audit report confirming that you have no outstanding liabilities in the market. The liquidation process typically takes around 1 month.
DTEC serves as an excellent solution for technology and IT-oriented startups seeking an inspiring environment to connect with like-minded entrepreneurs. It provides a space for individuals who intend to live in the UAE and spend regular time in their office.
With a full-time office space available 24/7 and access to all the necessary tools, DTEC empowers startups to progress towards becoming international corporations.
If you're interested in different business activities, such as trading, we recommend exploring the Dubai South free zone for setting up your business in Dubai. While the price range may be slightly higher, Dubai South offers a broader range of activities to choose from.
DTEC bridges the gap between a freelance license in Dubai and a regular company, granting you a business license, corporate bank account, and the ability to hire a few employees.
Up to 2 visas company
LICENSE TYPE | VISAS INCLUDED | TOTAL COST | |
---|---|---|---|
Service license + Flexi desk | no visas | AED 27,825 $7,650 | download breakdown |
Service license + Flexi desk | 1 visa | AED 32,128 $8,850 | download breakdown |
Service license + Flexi desk | 2 visas | AED 36,430 $10,000 | download breakdown |
INDIVIDUAL SHAREHOLDER
Top 10 questions about Dubai Technology Entrepreneur Center
No, a personal visit to the UAE is required as per the regulations of the UAE Central Bank. Local banks require this visit to verify the client's identity.
In most cases, you can obtain a debit card for your newly opened company, especially if there is only one shareholder. However, a credit card is usually issued against a fixed deposit. As for loans, banks may consider your eligibility based on your company's operations and profits. It is recommended to apply for a loan after at least one year of company operations.
Officially, the office of a free zone company should be located within the free zone where it is registered. However, if you need an office in Dubai, you have the option to rent space in a Business Center and use it on a flexible basis. It is important to note that the minimum required space (flexi desk) in the free zone cannot be canceled.
A flexi desk is a mandatory requirement for any company eligible for resident visas. It serves as the minimum physical office space that a company with individuals under its visa must have. Additionally, a flexi desk can facilitate bank account opening as banks require evidence of a company having some form of office or physical presence.
VAT obligations depend not only on the place of registration but also on where the business activities take place. VAT becomes applicable when the taxable turnover reaches AED 375,000. If a free zone company's trading activities take place abroad, the turnover is not considered taxable as long as the transactions occur outside the UAE. However, if goods are imported to the UAE, VAT at a rate of 5% must be added to invoices and paid.
The UAE is free from income tax. However, there is a 5% import tax on goods brought into the country and a 5% VAT on trading or service transactions that occur within the UAE.
On June 1, 2023, the UAE introduced 9% corporate tax, however, companies registered in UAE free zones are exempt from this tax if they do not make profits from activities on the UAE mainland or this profit is less than AED 375,000 per year. Branches of companies registered in free zones and carrying out activities on the mainland will be taxed at the mainland rate.
The suitability of a free zone company versus an offshore or mainland entity depends on your business model and requirements. However, a free zone setup offers advantages such as 100% foreign ownership, eligibility for resident visas, the ability to conduct business both within and outside the UAE, and greater favorability with banks compared to offshore companies. Additionally, free zones often offer flexi desk spaces instead of executive offices, making it a cost-effective way to start a business without unnecessary obligations.
While we strive to make the account opening process as smooth as possible, we cannot guarantee the approval as it ultimately depends on the bank. Each case goes through several bank departments for approval, and the bank may contact you directly for clarifications. Providing a clear picture of your business to the bank increases the chances of successful account opening. We do our best to prepare you and your company for a smooth and fast account opening process.
Your company should be renewed annually, and the cost is typically lower than the initial setup cost. The renewal fees depend on your company package, and you can obtain the price by downloading the Estimate from our website. Company renewal does not require the personal presence of the owner and can be done by your agent. After renewal, the new license must be presented to the bank to extend the bank account, which is included in our renewal service.
You have multiple options for fee payment. You can make payments via bank transfer, cash, or online using a card.
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