DUBAI TECHNO PARK COMPANY FORMATION BASIC INFO

Economic Zones World (EZW) has always been committed to the welfare of the communities within which it operates. The objective of establishing the park is to assist in the growth of Dubai’s economy by encouraging scientific activities and boosting the level of technology in the region. Hence, the park shall be a center for transfer, adaptation and localization of technology. Techno Park shall develop technology clusters in specific industries where the target market represents a considerable portion of global demand.

Techno Park issues the following types of licenses:

      ·  Industrial Activities: To carry out the manufacturing and assembling of specified products

· Professional Activities To carry out specified professional activities.

·Trading Activities To carry out the import, export, distribution and storage of specified items.

          Various types of companies can be formed at Techno Park, namely:

A LIMITED LIABILITY COMPANY

          ·    With two to fifty partners, liable to the extent of their share in the capital.

          ·    Minimum share capital AED 300,000 divided into equal shares with a minimum face value

         of AED 1000.

          ·    UAE nationals must hold at least 51% of the shares.

        ·    The management or managers are appointed by memorandum of association, by a        

               separate   management contract or by a general assembly of the partners.

A SOLE ESTABLISHMNET (COMMERCIAL/ INDUSTARIAL)

Owned by a sole proprietor, who is responsible for all its financial obligations.The owner must be a GCC national.

A CIVIL COMPANY

                 ·   For activities involving the use or investment in intellectual faculties, acquired information
                      or the  use of skills.

                 ·    Formed as Civil Partnerships in accordance with the Federal Civil Transactions Law No.(5)
                     of  1985 with its amendments.

                ·    Professional companies may be 100% foreign owned.

Alternatively these types of branch companies, legally regarded as part of their parent establishment, may be set up:

              ·         A Branch of a Free Zone Establishment (FZE).

   ·         A Branch of a Free Zone Company (FZCO).

   ·         A Branch of an L.L.C. (covers all Limited Liability Companies in the UAE).

   ·         A Branch of a Sole Establishment based in the Emirate of Dubai.

  

   ·         A Branch of a GCC Company (the mother company should

             have  a 100%  GCC shares).

   ·         A Branch of a Foreign Company.

Posted by Winston Wambua, Senior Business Consultant

For more information about Company Formation or inquiry you can contact me on

 

Winston Wambua

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Email: winstonk@live.com

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