Establishing a Company in the Knowledge Park Free Zone In the modern business world, free zones such as the Knowledge Park in Dubai are an ideal destination for establishing companies. These regions provide a supportive business environment and legislative flexibility that attract entrepreneurs from all over the world. Itqan Company works in cooperation with the Knowledge Park to facilitate the process of establishing companies, as the company provides in-depth knowledge of local procedures and requirements. The Knowledge Park Free Zone offers many benefits such as comprehensive tax exemptions and easy access to modern infrastructure and integrated facilities. Companies in this region can benefit from advanced technology and qualified human resources available locally. If you are looking for a dynamic business environment that supports innovation and growth, establishing your company in the Knowledge Park in cooperation with Itqan represents a successful strategic step towards successfully achieving your commercial and financial goals.

Establishing a company in the Knowledge Park Free Zone provides flexible solutions supported by an innovative customer service team. With their help, Dubai Knowledge Park business partners have established training centres, institutes and human resource agencies to maintain and secure their market share in this thriving sector.

Establishing a company in the Knowledge Park Free Zone

Basic steps to establish a company in the knowledge park

Establishing a company in Dubai represents an important strategic step towards exploiting the evolving business environment in the UAE. The Knowledge Park is one of the most prominent free zones in Dubai, where there are great opportunities for companies to benefit from tax and customs exemptions, in addition to advanced infrastructure and exceptional support from government services. Through this introduction, we will learn about the basic steps that must be followed to establish your company in this ideal business environment. The basic steps to establish a company in the Knowledge Park:

• Planning and research: Entrepreneurs must determine the appropriate type of company and conduct an economic and legal feasibility study.
• Submitting a registration application: Submitting the application to the competent authority and specifying the company’s scheduled activities.
• Establishing the company: preparing the necessary contracts, registering them, and signing them before the competent authorities.
• Obtaining the necessary licenses: Obtaining government licenses and permits necessary to start a business.
• Opening a bank account: Opening a commercial bank account for the company to manage financial matters efficiently.
• Work and residence visas: Submit applications for work and residence visas for employees and families if necessary.
• Starting a business: Once all procedures are completed, the company can start conducting its business activity in the Dubai Knowledge Park.

By following these basic steps, entrepreneurs can effectively establish their company in the Dubai Knowledge Park and begin their success journey in an advanced business environment that encourages innovation and growth.

Tax and customs benefits available in the Knowledge Park

Establishing a company in a free zone represents an important investment step that requires careful planning and a good understanding of the expected costs and potential challenges. In a free zone such as Dubai Knowledge Park, costs vary depending on the type of company and the volume of activities planned. In this introduction we will explore the key costs you may face when establishing and operating your company in this business-friendly environment. Expected costs for establishing and operating the company in the Knowledge Park:

• Registration and licensing fees: These include the costs of registering in the free zone and obtaining the required government licenses. These fees vary according to the type of company and the chosen activities.
• Rental costs: The cost of renting an office or work space in the complex. These costs vary depending on the location within the free zone and the size of the space required.
• Administrative and financial costs: These include the costs of administration, staff, and consulting services if necessary, including the potential costs of accounting and tax audits.
• Legal and consulting costs: The costs of obtaining the necessary legal advice to ensure compliance with local and international laws and regulations.
• Other service costs: These include communications and Internet costs, and public services such as electricity and water, in addition to the necessary insurance costs.

By meeting these costs and being prepared to commit to the financial obligations resulting from establishing and operating the company in the Knowledge Park, entrepreneurs can take full advantage of the encouraging environment and investment opportunities available in Dubai.

The expected costs of establishing and operating the company in the free zone

The Knowledge Park in Dubai is one of the leading free zones that provides an ideal environment for establishing and operating companies, while providing unique investment opportunities and advanced economic facilities. In this introduction, we will explore the tax and customs benefits that companies joining the Knowledge Park enjoy, making it a preferred destination for business and investment in the region. Tax and customs benefits in the Knowledge Park:

• Full tax exemptions: Companies in the Knowledge Park enjoy a comprehensive exemption from taxes on profits for a period of up to 50 years, which contributes to enhancing profitability and providing financial liquidity for emerging and medium-sized companies.
• No value-added tax (VAT): The free zone is considered a value-added tax (VAT)-free zone, which reduces the financial burden on companies in their daily operations.
• Customs exemptions: The free zone in the Knowledge Park allows you to benefit from customs exemptions on import and export, which greatly facilitates the supply and distribution operations of companies.
• Speed ​​in procedures: The government in the Knowledge Park is distinguished by its rapid and effective dealings in completing administrative procedures and licensing, which helps to speed up the processes of starting a business.
• Advanced infrastructure: The Knowledge Park Free Zone provides advanced infrastructure, including transportation, communications and public services facilities, which enhances business efficiency and contributes to the success of companies.

Thanks to these tax and customs benefits, companies in Dubai Knowledge Park can benefit from an advanced and supportive business environment, contributing to long-term growth and sustainability.

Requirements for directors and shareholders of registered companies

Establishing a company in Dubai requires compliance with a range of legal and regulatory requirements, including certain requirements relating to directors and shareholders of registered companies. Dubai Knowledge Park is a preferred destination for business and investment thanks to its supportive and flexible legal environment, where opportunities are available for companies to carry out their activities efficiently and effectively. Through this introduction, we will learn about the requirements that must be adhered to by directors and shareholders of companies registered in this leading economic free zone. Requirements for directors and shareholders of companies registered in the Knowledge Pool:

Directors (CEO and Administrative Board):

• Directors must have the appropriate competence and experience to manage the company.
• They must be legally qualified to hold the position of CEO and members of the Managing Board.
• They must comply with all local and international regulations and laws applicable in Dubai.

Contributors:

• There are no restrictions on the nationalities of shareholders, and they can be natural individuals or legal companies.
• Each shareholder’s share in the company’s investment capital must be determined and recorded in legal documents.

Accommodation and visas:

• Directors and shareholders do not necessarily need to reside in the UAE but they do need a valid residence permit or visa to enter to conduct business.

Annual reports and general meetings:

• Registered companies are required to submit annual reports, comply with requirements for general assembly meetings and update statutory records.

Thanks to these specific requirements, companies can benefit from a sustainable and structured business environment in the Dubai Knowledge Park, effectively contributing to their success and growth in this developed global market.

Our company’s role in establishing a company in the free zone

Establishing a company in the Knowledge Park in cooperation with Itqan Company represents a strategic and successful investment in the international business environment. The Knowledge Park Free Zone offers distinct opportunities for companies through full tax facilities and a flexible legislative environment. Thanks to advanced infrastructure and integrated services, businesses here can benefit from technological innovation and sustainable economic growth. Itqan Company, with its expertise, helps simplify procedures and provide comprehensive advisory support, which contributes to the success and sustainability of businesses in the region. Accordingly, the Knowledge Park constitutes an ideal choice for those wishing to establish their companies in an innovative and advanced business environment, as this can be the first step towards achieving success and distinction in the competitive global market.

Frequently asked questions about establishing a company in the free zone