Dubai Science Park assumes a critical part in Dubai's Vision 2021 by empowering a supportable and independent future by using greatest indigenous assets and engaging nearby ability.Dubai Science park aims to achieve this by providing facilities with cutting-edge technologies for companies to support innovation in the fields of human science, plant science, material science, environmental science and energy science.
The zone was created by TECOM gathering and initiated in 2005. DSP is a coordinated grounds furnishing organizations with Commercial Offices, elite labs, controlled environment Warehouses, private condos alongside numerous different offices. There are more than 350 national and international companies that have already set up the business in Dubai Science Park.
Advantages of Dubai Science Park
The free zone offers many advantages to companies, which is a significant factor in starting a business in Dubai.
- 100% foreign ownership without the need for a local sponsor
- No corporate and income taxes
- 100% repatriation of funds
- No foreign currency restrictions
- No tax on imports and exports
- Business-friendly legal framework
- Swift Visa processing
- Collaboration opportunities with global companies
- State of the art laboratory infrastructure
- Availability of right Talent
Business Activities in Dubai Science Park
- Real Estate
- Office spaces
- Manufacturing & production
- Imports and exports
- Laboratory testing
- Research and Development- Environment, Renewable energy, Life sciences, recycling and waste management, sustainable farming, food tech.
- Customer care services
- Sales and Marketing
Documents Required to Set up a Business in Dubai Science Park
Organizations keen on setting up the business activities in the Dubai Science Park need to submit fundamental records to the controller. Coming up next is a rundown of records required for business joining in the free zone.
- Completely Filled-in application form.
- Description of the business plan/summary- products and services etc.
- Passport copies of all the shareholders/Directors
- A copy of the Board resolution
- Marketing description- Target market and segments
- Financial Details- Bank account proof, balance sheet, cash flow statement etc.
Types of Licenses
Dubai Creative Clusters Authority (DCCA) regulates the licensing rules in the Dubai Science Park and plays a crucial role in company formation in Dubai Science Park. The types of licenses issued by the DCCA are:
Companies involved in the trading business should obtain a commercial trading license. This license allows for the import & export, storage and distribution of goods.
Companies planning to manufacture and assemble their products in the free zone are required to obtain the industrial license. The license allows the companies to import raw materials, manufacture or assemble and export the final products.
Companies or professionals involved in the service sector require to obtain this license to provide their services in the free zone.