Business Set Up In Dubai: Dubai Company Formation in Dubai Academic City Free Zone (DIAC)-Tecom

Dubai Knowledge Village (DKV) announced the launch of Dubai International Academic

City (DIAC), the World’s only Free Zone dedicated to international higher education. Located in Dubai Academic City, DIAC will serve as the regional base for premier international higher education institutions. Spread across an area of 25 million square feet, the DIAC campus provides an intellectually inspiring environment for students and faculty.

Dubai Academic City already houses seven universities. DIAC will only house

international universities separating them from other public colleges and institutions

in the area. The project is expected to be completed in the next five to seven years

according to business projections and will have very stringent selection criteria for

approving licenses of colleges.

This thriving knowledge community was founded as part of a long-term economic4

strategy to develop the region’s talent pool, to accelerate its move into a knowledgeeconomy. Benefits for DIAC investors include 100% foreign ownership, 100% tax free,100% repatriation of profits. There are currently many international universities of higher learning from diverse regions including Australia, India, Pakistan, Iran, Russia, Belgium, UK and Ireland operating out of DIAC, however the authority expects to further house 25 international universities to cater to more than 30,000 students in the future.These institutions offer programs that range in duration from one year to four years.Major academic programs on offer include engineering, computer science, fashion and design, biotechnology, environmental studies, quality management and business management programs.The selection of international universities depends on a number of criteria including university ranking, strength and programmes that correspond to the UAE’s industry needs. DIAC will be spread across an area of 25 million square feet. There will be areas dedicated to the international education zone, research and development centres, sports facilities, student unions and student and faculty accommodations. However currently there is no mandate for the international universities based in DKV to move to the DIAC. The set-up in DKV is not as appropriate for the universities that need to expand as DKV will focus more on house training and human resources companies. At DIAC universities have the option of either building their own campus or moving into the ready-made buildings .

Features

• Government support services.

• Wellness centers, dining facilities and entertainment venues including movie theatres,

gaming centers etc.

• Student Accommodation

• Sports centers

• Multimedia library and other common facilities.

• Type of company activities include Universities, colleges, sports facility management,

library management, accommodation service provider, academic support services, etc.

Form of registration

As a branch of a foreign company - no minimum capital required.

As a branch of a UAE company - no minimum capital required.

As a Free Zone Limited Liability Company (FZ-LLC) - minimum share capital varies

and depends on the authorities after review of the business plan.

Facility costs and type of licenses

Facility	Size	Cost in AED per annum
Offices	18,000 - 20,000 sq.ft	145 - 180 per sq.ft
Land	250,000 sq.ft onwards	20 - 30 per sq.ft
· Registration Fee one time (FZ-LLC) AED 3,500 · Registration Fee one time (Branch) AED 3,500

Type of License	Cost in AED per annum
University segment	50,000 - 100,000
Branch University segment	15,000 - 100,000

• These figures are indicative and subject to change.

Winston Wambua

For more information please contact me on

Mobile +971553350517

Email: winstonk@live.com

Skype: Winston.wambua

Business Set Up In Dubai

Monday, 25 June 2012

Dubai Company Formation in Dubai Academic City Free Zone (DIAC)-Tecom

No comments:

Post a Comment