Dubai Media City

For the past 20 years, Dubai Media City has cemented its position as the region’s most credible media community that houses the largest global and local media brands. It’s a community where freelancers, startups, SMEs, and large enterprises co-exist, contributing to Dubai being named “The capital of Arab Media 2020.”

DMC provides an ideal space for sectors related to broadcasting, media and marketing services, publishing, music, film, leisure, and entertainment, etc.

Advantages of setting up Business in Dubai Media City Free Zone:

• Simple & quick process.
• Strategic location opportunity.
• 100% foreign ownership.
• International collaboration opportunities.
• 100% repatriation on capital and profits.

Steps to commence a business in Dubai Media City Free Zone:

Documents Required to initiate the process at Dubai Media City:

• Visa, Passport Copies
• Passport size photo
• Emirates ID & NOC (applicable for UAE residents)
• Business plan
• License application form
• Proof of share capital of AED 50,000

Some attractive features of Dubai Media City:

Entertainment: Our scenic and customizable venues are the perfect spot for concerts, food festivals, exhibitions, networking events and more.

Activities Permitted in Dubai Media City:

• Media and marketing services
• Publishing
• Event management
• Web design
• Acting
• Communications
• Writing
• Advertising
• Journalism
• Media consultancy
• Brand consultancy
• PR
• Social media
• Broadcasting
• Media support services
• New media

Dubai Media City License renewal formalities:

1. The renewal process of DMCFZ is a simple and cost-effective procedure. You just have to submit an audit report starting from the second renewal of your company on an annual basis.
2. You will have to pay the renewal fee and submit the signed lease agreement for your facility.
3. Physical presence is not required. Agents can act as an intermediary for the renewal procedure.

Frequently Asked Questions on Dubai Media City Free Zone:

• How long does it take for the company registration to be completed?

Once the necessary documentation and payments are completed, it usually takes 7 working days, which includes, 4 working days for the initial application approval and 3 working days for the issuing of the license.

• What are the financial requirements required for starting a business in Dubai Media City?

The initial expenses include license registration fees, an office lease, and a minimum refundable capital of AED 10,000. If you are starting a branch of an existing foreign/ UAE company, no minimum capital is required.

• What is the regulatory authority in Dubai Media City?

The Dubai Development Authority (DDA).

• Which type of business can I set up here?

DMC encourages companies in media and entertainment, including film production, broadcasting, e-commerce, gaming, music, printing, advertising, etc.

• What is the license validity?

License is valid for a period of one year and are renewable on an annual basis.

• What types of companies can I set up here?

New incorporation of a Free Zone Limited Liability Company (FZ-LLC), branch of an existing foreign/UAE company, Freelance permit.

• Is there a limit on the number of employees per company?

Yes. To ensure a safe and proper working environment, a company can sponsor one employee per 80 sq. ft. of the leased space.

Corporate tax applicability to the companies in Dubai Media City Free Zone:

Corporate tax law is going to be applicable for all the companies registered in UAE including the free zones in UAE. The UAE Corporate tax is going to be effective for the financial year beginning on or after 1 June 2023 for the businesses in UAE. Corporate tax will be levied at zero percent on the taxable income (adjusted net profit) of the businesses in the free zones as long as they comply with all the regulations of the respective free zone and do not do any business with the mainland companies, otherwise there is a possibility of levying 9% corporate tax on the taxable income (adjusted net profit) in excess of AED 375,000. Hence companies in the Free Zones need to make sure that they are complying with all the regulations of the free zone and do not do any business with the mainland entities to enjoy the benefit of zero percentage of UAE corporate tax.

{NOTE: Kindly note that the authenticity of this article is limited to the day of publishing this blog. As policies and rules pertaining to each free zone keeps changing from time to time based on the necessity of the respective authority, it is hereby advised you to check the website of the concerned free zone directly to get the latest update on the same. We do not assume any liability if you have taken any decision based on the information provided in the article. We have ensured that the presented information to the visitor is legible to the maximum extent possible so that all the information is available in one page, at one go. Thank you.}

How can Spectrum help you set up a business in Dubai Media City Free Zone?

Spectrum provides an easy and simple start-up process for companies seeking to set up offices in Dubai Media City Free Zone. Spectrum’s dedicated team will guide you through the process, answer your questions, provide the necessary forms, and serve as your primary point of contact to support you through the whole process.

Spectrum is an expert firm in the Company Formation and Company Liquidation process. Our passion and heart lie in serving the clients and we aim at the utmost client’s satisfaction. We are registered Auditors under the Ministry of Economy UAE and also registered Tax Agent from Federal Tax Agency UAE, Dubai providing dedicated Audit, Accounting, Tax services and various Business Advisory Services complying regulatory requirements.

Call us today for any kind of assistance at +971 4 2699329 or email us at [email protected] to get all your queries addressed. Spectrum is your partner in your success.

AUTHOR

Amrutha M

Accounts Executive