Dubai Silicon Oasis
Dubai Silicon Oasis Authority (DSOA) was established in 2004 and is wholly owned by the Government of Dubai. DSOA provides both a living and integrated working community that offers trade zone incentives and benefits to companies operating within the tech park.
DSOA prides itself on having Dubai’s first smart city, Silicon Park. The technology park possesses infrastructures and facilities that are of world-class quality. It houses 8 Signature Boutique Buildings offering a unique opportunity for companies to establish their headquarters in the heart of Silicon Park overlooking the lake and located in Central Square. These flexible smart buildings provide superior fitted office spaces for companies to move straight into.
In the same park, there is a designated space, where various international brands and exceptional local retailers are all represented. A separate area for a residential complex is also available. This is where stylish apartments are built to the most rigorous standards of sustainability.
DSOA is also home to the Dubai Technology Entrepreneur Campus which is the largest startup campus in the Middle East. DSOA has partnered with the Rochester Institute of Technology (RIT) New York, an internationally recognized leader in professional and technology-oriented education and established RIT Dubai.
Whatever the business requirement would be, DSOA presents a wide variety of options for business start-ups. In addition, Dubai Silicon Oasis (DSO) has a network of roads allowing access to Dubai’s major highways.
Business Setup in Dubai Silicon Oasis Authority
DSO falls under the umbrella of Dubai Silicon Oasis Authority (DSOA), which also includes other developments such as Silicon Park. For this reason, it is often asked: is Dubai Silicon Oasis a free zone? The answer is yes, DSO is a standalone free zone. As such, it offers all of the benefits you would expect of such a zone, and more.
Doing business here is easy. DSO issues three types of license:
- Service Licence
This allows the registered entity to carry out only specified services.
- Trade Licence
This allows the registered entity to practice activities which are related to import, export, and distribution of items and goods as specified in the licence.
- Industrial Licence
This allows the registered entity to import raw material, manufacture, and process, assemble, package and export the finished product.
As well as world-class services and welcoming entry criteria, DSO also offers a host of business services to its inhabitants, including assistance with visa, customs clearance, and municipal services such as building permits and No Objection Certificates (NOC).
DSO clients also benefit from the free zone’s onsite partnerships with government authorities and private corporations including Emirates Post, Etisalat, the Dubai Health Authority, and the CID.
Business set up Activities in Dubai Silicon Oasis Authority
DSO positions itself as the emirate’s hi-tech ecosystem. It is the only technology park in the region that provides space for living, working, and leisure time.
However, while it is fair to say technology is a focus at DSO, the free zone also opens its doors to many other industries. Currently, DSO is open to every business activity listed by the Dubai Department of Economic Development (DED). That’s over 2,000 permitted Dubai Silicon Oasis business activities.
In Dubai Silicon Oasis, the list of business activities that are allowed are the following:
benefits to Setup company in DSOA
Business set up Corporate Structures in DSOA
- FZCO- An FZCO is a legal entity incorporated/registered with a minimum of two shareholders. Shareholders can be either individuals or non-individual(s)/corporate.
- FZE- An FZE is a legal entity incorporated/registered by a single shareholder. The shareholder can either be an individual or a non-individual/corporate.
- Branch- Any established company, whether in the UAE or abroad, can register its branch in the Dubai Silicon Oasis. The activity of the branch proposes to conduct in the Dubai Silicon Oasis is required to be identical to the activity conducted by the parent company.
- DED registered companies- Companies that are already established with the Dubai Economic Department (DED) and wish to operate in The Administrative Zone in DSO (i.e. in the non-DSOA property) should apply for a Business Operation Permit.
Dubai Silicon Oasis Authority Business set up process
The process for setting up in the jurisdiction of Dubai Silicon Oasis Authority comprises six steps:
- Submit application form
At this stage, you will also be required to register on DSOA’s customer portal.
- DSOA documents pre-approval
Subject to document review (activity and security check) initial approval and invoices are issued.
- Fee payment and legal document submission
You are required to pay related fees and submission of legal documents.
- DSOA issue e-agreement
This includes the lease agreement and a digital agreement, which will be sent to your registered email.
- Sign e-agreement and share capital letter is applicable for (FZE/FZCO only)
You will be required to sign a lease agreement and return that to DSOA along with a bank share capital letter.
- E-license is issued
E-registration and e-license are then issued.
In most cases, licenses are issued with one week. However, omissions or errors in your application can lead to delays. For this reason, it is a good idea to work with a company formation expert who can manage every aspect of your application for you.
The exact steps required to start your company in DSO will largely depend on the nature of your business activities and your chosen business setup. In most cases, however, as well as the documentation listed above, you’ll also be required to provide:
- Application form
- Letter of intent
- Passport copy/copies
- NOC for UAE residents only
- Bank statement/reference letter or audited financial report
- Company business plan
In the majority of cases, the DSO company formation process takes only seven to ten days, provided that your application is complete and correct. As previously mentioned, it is vitally important to keep in mind that errors in your application can lead to delays or even rejection.
That’s why it’s a good idea to work with a company formation specialist such as WIS Consultancy when forming a new business anywhere in the UAE. We are a team of company registration professionals who are passionate about bringing the dreams of aspiring entrepreneurs and SMEs to life.
Our experts can establish your company on your behalf, make your license and visa applications, and take care of all the necessary admin, making UAE company formation easy.