DUBAI KNOWLEDGE PARK FREE ZONE
Costs for: Dubai Knowledge Park Free Zone
About Dubai Knowledge Park (DKP)
Launched in 2003, Dubai Knowledge Park is a leading force in this domain and is considered the only free zone exclusively dedicated to human resource management and learning excellence. The DKP’s mission is to create and develop a qualified pool of staff in the region, supporting the Emirates’ transition to a knowledge-based society.
The core of the DKP is its diversity; here, we encounter a combination of enterprises, startups, and self-employed individuals along with such institutions as non-government organizations (NGOs), training institutes, and academic centers. Within DKP’s diverse ecosystem, a sophisticated web of ideas and talent encompassing knowledge and imagination coexist to drive innovation and teamwork. This environment, therefore, becomes a fertile field with organizations and persons building fortunes and demonstrating development—a landscape of surging and receding Human Resource life.
Today, DKP still leads in advancing the knowledge economy in the UAE and across the MENA region. The firm’s undauntable devotion to learning excellence inspires forward movement, making DKP a clarion for those determined to acquire knowledge and develop their personal lives.
Benefits of setting up a company in: Dubai Knowledge Park Free Zone
Business Activities
In Dubai Knowledge Park Free Zone, a spectrum of business activities thrives, encompassing diverse sectors that contribute to the overarching theme of human resource management and learning excellence. Here’s a breakdown of key business activities flourishing within this dynamic environment:
Dubai Knowledge Park Free Zone: Everything You Need to Know
The Dubai Knowledge Park (DKP) shines as a model for inspiration, being the only free zone in the world dedicated exclusively to human resource management and learning excellence. In 2003, DKP was established on the enlightened mission to enlarge the talent pool in the region and help the UAE become a knowledge-based society.
At the core of DKP found the honest acknowledgment of the diversity which brought together businesses, startups, freelancers, NGOs, training institutes, and academic centers. The resultant amalgam comes alive as a multihued web of thoughts and skills energized with the inextinguishable urge for understanding that increases innovation and teamwork. DKP provides the breeding ground where individuals and companies are rooted, like water ebb and flow, which changes the beach landscape over time.
Today, DKP still reckons as a key driver of the knowledge economy in the UAE and across the MENA area. Its unvaried pledge to learning quality persists,, making it an essential element to keep within arm’s reach under the constant change in the professional panorama of human resource management.
Why Dubai Knowledge Park?
Among a great many attractive destinations for small enterprises and emerging businesses, especially those breaking into the field of human resource management and learning, Dubai Knowledge Park certainly comes to mind. Unique atmosphere supports innovation, teamwork, and personal development, thus making it the unmatched alternative. Here’s why Dubai Knowledge Park Free Zone emerges as the preferred option:He is sufficiently credited as requiring a profession to become an artist.
Specialized Environment
Providing a customized context, our free zone enables prospering niche expertise of related sectors, mainly oriented for companies working with human resources, training, and learning.
Global Connectivity
Dubai Knowledge Park is creating a global network through the attraction of international career advancement companies to the park, thus opening wider doorways for communication and cooperation, which enables businesses to have an access to more deals.
Talent Cultivation
Emphasizing talent development within the park is, thus, in line with the strategies of companies concentrating on human resource management and training, providing an avenue for skill improvement.
Ideal Launchpad for Startups
Dubai Knowledge Park is the best place for the startups to begin their journey; it provides all sorts of support and infrastructure that would facilitate establishing a business. The park’s enabling environment facilitates the easy establishment and growth of new projects.
What Is the Dubai Knowledge Park Free Zone?
Choosing to establish your business in the Dubai Knowledge Park offers many of the advantages provided by selecting a company under an independent free zone. Free zones and designated economic areas provide a favourable environment for trading activity, with preferential tax rates and customs duties to attract foreign direct investment into the UAE.
The authority to create laws and regulations differing from those of the federal government belongs only to free zones, which include Dubai Knowledge Park. The implications for businesses are substantial, and key benefits include:
Repatriation
You can repatriate 100 % of your profits and capital in the free zone. In practical terms, this means that funds can be transferred to your home country without any restrictions for businesses in the Dubai Knowledge Park.
Ownership
Go completely foreign-owned in your business. Amendments adopted in June 2021 have removed the former stipulation that UAE nationals must own at least 51 % of firms outside free zones. This means it is now easier for a person or company to open up a business on the mainland without having an Emirati as a local partner.
Taxes
The financial advantage for the businesses taking up residence within free zones is a total exemption from personal and corporate taxes. Besides this, there are no customs duties on goods and services. Yet, a value-added tax (VAT) of 5 % was introduced in 2018. This is important to point out. Even in a free zone, VAT registration is compulsory if taxable supplies and imports reach the minimum threshold of AED 375,000.
Why Is Dubai Knowledge Park Right for You?
For a fresh enterprise vying for the Dubai Knowledge Park, in addition to tax benefits comes an entire environment designed to accelerate your success. Starting your business in this dynamic environment provides cutting-edge infrastructure and critical support services.
Visa Services
Axs, an integrated digital platform, provides hassle-free visa services to streamline your operations. It means you can handle business anywhere in the world without interruption.
Offices
Select from an array of high-level offices furnished with first-class facilities if you would like managed space, flexible arrangements, or spaces in a preferred location; Dubai Knowledge Park offers the right setting for your business to have a smooth and resourceful start.
Community
Access to a thriving community of famous name-card brands, creating an environment conducive to high-quality human resource management and learning. Proximity to healthcare, sports facilities, restaurants and gyms ensures a convenient work environment with plenty of support.
Employees
Leverage the talents of skilled human resources professionals. Finding the right people is key to your company’s growth and development. In Dubai Knowledge Park, you can draw on a deep reservoir of skilled labour, bringing your business to rapid expansion.
What Types of Business Activity Are Permitted in the Dubai Knowledge Park Free Zone?
This special feature of the Dubai Knowledge Park consists of doing only specific permitted business activities. The approved activities are specifically tailored for employee training and consulting, including computer skills classes, language courses (English only), children’s development courses, and fine arts performance. Additionally, businesses engaged in the following activities are also allowed:
- Tutoring services
- Human resources consultancy
- Executive search
- Professional and management development training
If other aspects of human resource management are involved in your business, for example, assessment and testing or R & D, Dubai Knowledge Pak would still be an option. Furthermore, freelancers and not-for-profit associations can apply for licenses to establish themselves in the Dubai Knowledge Park Free Zone.
To satisfy operational norms and ensure that your company is not engaged in activities prohibited by law, it’s best to work with a business setup planner. They’re best situated to guide you through the application process (especially in response to questions like whether your business falls within those permissible activities set out for the Dubai Knowledge Park Free Zone).
What Type of Companies Can Form in the Dubai Knowledge Park Free Zone?
After you confirm alignment with the permitted activities, your second step in company formation within Dubai Knowledge Park Free Zone is to determine what type of structure for a business. Here are some common forms to consider:
Free Zone Limited Liability Company (FZ-LLC)
The Free Zone Limited Liability Company is one of the most popular choices. This structure sets up a separate legal person with individual or corporate shareholders. The Dubai Knowledge Park offers autonomy and flexibility in business operations.
Branch of a Foreign Company
Incorporating as a branch of an overseas firm means it is established outside the Knowledge Park in Dubai. Thus, This kind of establishment depends on the parent company, directly connecting with its operations and management.
Freelance
Beginning work as a contract professional is another viable option. When making this choice, you become your boss. As freelance visas become popular and cheap, cheaper entrepreneurs choose this direct path in setting up a business within the Dubai Knowledge Park Free Zone.
You need to carefully consider these possibilities in light of your business objectives and corporate structure preferences. Are you looking to attain the autonomy of an FZ-LLC? Would you like a branch for international connectivity, or would your needs be met more by freelancing and flexibility regarding where people are located at any given moment? At Dubai Knowledge Park, they offer many paths upon which entrepreneurs can carve out places for their ventures.
Why Is a Strong Infrastructure Important for Your Business?
The excitement of setting up a business comes with the need to consider all the costs associated with company formation carefully. Allocate approximately USD 10,000 to USD 15,000 for business equipment, with 10% of your budget earmarked for office equipment. While managing these costs, having a supportive infrastructure can save time, money, and effort.
Enter the Dubai Knowledge Park Business Centre, offering a range of office space options:
Hot Desk or Shared Office Space
Ideal for freelancers, providing flexibility and collaborative environments.
Single Offices in a Shared Environment
Like cubicles, you foster a balanced blend of individual work within a shared space.
Executive Offices
It is tailored for businesses seeking a private and professional workspace.
Executive Suites
Offering a private reception, a small meeting room, and an executive office for enhanced privacy.
For larger businesses requiring more space, commercial offices provide unfurnished floors or areas that can be customized to suit specific business needs.
Events and Venues
The Dubai Knowledge Park hosts exhibitions, workshops, conferences, and networking events, helping new businesses build contacts and community formation. Access to venues for hosting your events is also available, with operational support to ensure success.
Entertainment and Fitness
Adjacent to retail spaces, various cafes and restaurants offer convenient options for meetings or lunches. Additionally, Dubai Knowledge Park is near Dubai Marina, providing numerous dining choices, retail stores, and sandy beaches. Health is prioritized with nearby yoga studios and gyms to promote employee well-being and productivity.
Health and Wellness Facilities
Dubai Knowledge Park supports health and wellness, offering access to dental clinics, beauty salons, and childcare nursery centres. Prioritize the well-being of yourself and your employees, recognizing that a healthy workforce is more productive and less prone to absenteeism.
How to Set Up a Business in Dubai Knowledge Park Free Zone?
To establish your business in the Dubai Knowledge Park, follow these steps for a smooth license application process:
Identify Legal Form:
Determine the legal form of your corporation, whether it’s a Free Zone Limited Liability Company, a branch of a foreign company, or another suitable structure.
Choose Permitted Activity:
Specify the permitted activity of your business, aligning it with the activities allowed within the Dubai Knowledge Park.
Apply for Name Application:
Begin by applying for the name application form, ensuring the chosen business name complies with regulations.
Apply for Name and Initial Approval:
Proceed to apply for name and initial approval, securing the preliminary green light for your business.
Confirmation of Fee Payment:
Confirm the payment of the necessary fees, ensuring all financial obligations are met.
Sign Memorandum and Articles of Association (AOA):
Sign the Memorandum and Articles of Association (AOA) and other registration and incorporation documents, formalizing the legal framework of your business.
Apply for Dubai Knowledge Park Residence Visa:
Following company registration, apply for the Dubai Knowledge Park residence visa, allowing key personnel to live and work in the UAE.
The entire process typically takes around 4 to 6 weeks. To simplify and streamline this procedure, it is highly recommended to engage the services of a business setup consultant in Dubai. These experts can guide you through the paperwork, ensuring compliance and alleviating the stress associated with the licensing process. With a business setup consultant, you can focus on other critical aspects of your business, leaving the administrative details in capable hands.
Set Up Your New Business in the Dubai Knowledge Park Today
Having understood the enormous advantages of setting up shop in Dubai Knowledge Park Free Zone, from tax benefits to personal income, corporate tax, and customs duties exemptions, you are ready to move forward on this important decision.
Starting a business in Dubai is full of complications, from choosing the company name to applying for visas and opening bank accounts. Our well-versed business setup consultants have helped over 60,00 businesses started by entrepreneurs from more than 18 countries easily set up their operations.
Contact us now to set up your business in the Dubai Knowledge Park smoothly. Our expertise will see you through the details of company establishment, making it easy for you to focus on your business’s essential aspects while we take care of the administrative headaches.