Opening a company in the Dubai Silicon Oasis Free Zone is a promising strategic move for investors and entrepreneurs seeking to benefit from the unique business environment offered by this free zone. Silicon Oasis was established to be a leading hub for innovation and technology in Dubai, making it an ideal destination for companies operating in the fields of advanced technology, technology, and innovation.

Silicon Oasis enjoys a prime geographical location near major economic centers, facilitating access to a wide network of markets and customers. In addition, the free zone provides a flexible work environment that supports growth and innovation, thanks to an advanced infrastructure that includes modern offices, storage spaces, and specialized facilities. Bureaucratic procedures are also simplified, which contributes to accelerating the process of establishing companies and reducing administrative costs.

Other benefits offered by Silicon Oasis include tax exemptions, such as corporate tax exemption, which helps boost profits and reduce operating costs. The free zone also allows 100% foreign ownership, providing greater flexibility for international investors.

Setting up a business in Silicon Oasis is not just an opportunity to benefit from these advantages, but also an opportunity to be part of a growing and innovative business community. In this article, we will review the basic steps and advantages related to opening a business in this free zone, while providing valuable tips to ensure the success of the process and make the most of the available opportunities.

 

Steps to establish a company in the Silicon Oasis Free Zone

Establishing a company in a free zone such as Dubai Silicon Oasis involves specific procedures and steps. Here are the general steps to establish a company in Dubai Silicon Oasis:

1. Choose the type of company: Decide what type of company suits your needs such as a limited company, sole proprietorship, or partnership.
2. Choosing a company name: Find a unique name for your company and make sure it complies with Silicon Oasis’ business naming regulations.
3. Define your business: Identify your primary and secondary business activities that you wish to pursue.
4. Define the company structure: Define the company structure including shares, shareholders, and the roles of each person.
5. Submit an application for registration: Submit an application to register the company in Silicon Oasis and submit the required documents.
6. Pay the fees: Pay the fees required to register the company and process the application.
7. Obtaining Approvals: Make sure to obtain the necessary approvals from the relevant authorities in Silicon Oasis.
8. Company establishment: After fulfilling all conditions and requirements, the company establishment license will be issued.
9. Open a bank account: Open a bank account for the company and transfer the company’s capital to it.
10. Register the company with the necessary authorities: Register the company with the government authorities, taxes and any other relevant authorities.

Documents required to establish a company in the Silicon Oasis Free Zone

To establish a company in the Dubai Silicon Oasis Free Zone , it is necessary to prepare a set of basic documents to ensure that the registration process goes smoothly. Here is a list of the required documents:

1. Application for incorporation: An application for incorporation must be submitted, which can be obtained from the Department of Economic Development or through the free zone website. The application includes basic information about the type of company and the planned business activity.
2. Passports: Colour copy of passports of all shareholders and directors of the company. Passports must be valid.
3. Headshots: Recent headshots of all founders and directors, usually with a white background.
4. Letter of Director Appointment: A formal letter appointing the general manager or CEO of the company, and including the signature of all shareholders.
5. Copy of Lease Agreement: A lease or rental agreement for an office or commercial space in Silicon Oasis, which is necessary to identify the company’s headquarters address.
6. Business Plan: Provide a detailed business plan that outlines the business, goals, market strategy, and financial projections.
7. Copy of previous incorporation license: If the company was previously incorporated in another country, a copy of the previous incorporation license must be submitted, with a translation if necessary.
8. Academic certificates and experience: Provide copies of academic certificates and work experience of the founders and directors, as authorities may request them as part of the verification process.
9. No Objection Certificate: If one of the founders is working for another entity, a No Objection Certificate may be required from the current employer.

Advantages of opening a company in the Silicon Oasis Free Zone

Dubai Silicon Oasis Free Zone is considered one of the attractive destinations for establishing companies, thanks to the many advantages it offers. Here are the most prominent advantages of establishing a company in Silicon Oasis :

• Full Foreign Ownership: Silicon Oasis allows foreign investors to own 100% of the company’s shares without the need for a local partner. This feature enhances investors’ control over their business operations and helps them achieve their goals without restrictions.
• Tax Exemptions: Silicon Oasis Free Zone offers complete exemption from corporate and personal income taxes. There is also an exemption from Value Added Tax (VAT) on sales and services provided.
• Low fees and simplified procedures: Silicon Oasis features relatively low fees for company formation, in addition to quick and simple registration procedures, which saves time and costs for investors.
• Advanced Technological Environment: Silicon Oasis is known as a hub for technology and innovation, providing a conducive environment for technology companies and startups, allowing them to benefit from the latest technologies and modern facilities.
• Advanced Infrastructure: The free zone provides high-quality infrastructure including offices, laboratories, factories, and logistics facilities, which enhances the ability of companies to operate efficiently and effectively.
• Government support and facilities: Companies in Silicon Oasis benefit from government support and facilities provided for business development, including consulting and logistics services.
• Strategic Location: Silicon Oasis is located in the heart of Dubai, providing easy access to local and global markets, and provides good connectivity to transportation and essential facilities.
• Dynamic Business Community: Silicon Oasis provides a collaborative environment with a community of technology and innovative companies, enabling the exchange of ideas and collaboration between different companies.

In conclusion, it is clear that opening a company in Dubai Silicon Oasis represents an exciting opportunity for entrepreneurs and businessmen to benefit from the dynamic and flexible business environment offered by this free zone. Establishing a company in Silicon Oasis requires careful procedures and continuous follow-up to ensure compliance with local laws and regulations.

As a leading hub for innovation and IT, startups and large tech companies can benefit from the encouragement and support provided by the local government to develop the technology sector.

If you intend to establish a company in Silicon Oasis , it is advisable to work with local legal advisors who are experienced in company formation procedures in free zones to ensure a smooth process and compliance with local laws and regulations.

In short, establishing a company in Silicon Oasis can be an important strategic move for startups and advanced companies seeking to grow and thrive in the heart of innovation and technology.

The most important frequently asked questions about opening a company in the Silicon Oasis Free Zone