A Quick sneak peek on Dubai Production City:
Dubai Production City (DPC) formerly known as “The International Media Production Zone or (IMPZ)” which was established in the year 2003 as a free zone and a freehold area and its developer is TELCOM Group which comprises both residential and commercial properties. A local hub for graphic art, global and local publishing, printing and packaging industries and media production as well.
It shelters the professionals all over the world and it covers the area about 43 million sq.ft approximately. One can say Dubai Production City is one of the most feasible and affordable areas to buy properties in Dubai.
Q) What are the types of properties one can look for in Dubai Production City?
|Particulars||Apartment type||Rental amounts (Approximately) in AED||Sale trends (Approximately) in AED||ROI|
|Offices, sound stages, in 5 centres|
|Warehouses and Labour camps|
Q) What surrounds Dubai Production City?
|Popular Buildings||Hotels||Super markets||Mosques||Schools|
|Lakeside tower||Ghaya Grand Hotel||Carrefour Hypermarket||Jumaa Mosque||GEMS United School|
|Midtown||Aloft Me’aisem||W Mart Supermarket||Masjid Jama||Dubai British School|
|Lago Vista||Element Me’aisem||West Zone Fresh Supermarket||Emirates International School Meadows|
|Centrium towers||Occidental Dubai Production City||Swiss Mart||Kids Kingdom Nursery School|
Q) What are the types of licenses offered to set up the business in Dubai Production City?
|S.no||Types of licenses offered to set up the business in Dubai Production City|
Q) What are the various corporate entities in Dubai Production City?
|1||Free Zone Limited Liability Company (FZ-LLC)||This is a company formed as an independent legal entity with its own shareholders. The minimum capital requirement for incorporation depends on the business activity.|
|2||Branch of a Foreign/UAE Company||A branch is considered a legally dependent part of its parent company, even if its place of business is not in the main company’s headquarters. (No minimum capital required).|
|3||Freelancer||The Freelance permit offers the ability to operate as a freelance professional The permit identifies you as a sole practitioner It enables you to conduct your business in your birth name as opposed to a brand name.|
Q) What are the activities allowed in Dubai Production City?
- Import and export
- Support services
- Digital and news paper printing
- Commercial and Industrial printing
- Online publishing and Electric content
Q) What is the process to set up a company in Dubai Production City?
|S.no||Company Set up process||Documents required|
|1||Identifying the legal form of company||Form for business registration|
|2||Choosing an activity from Dubai Production City activity list||Details of all the shareholders and directors with their passport copies|
|3||Submitting application for provisional approval||Drafted copy of Memorandum and Articles of Association|
|4||Signing of Dubai Production City company registration and incorporation documents||Board resolution|
|5||Payment of fees||Proof of share capital|
|6||Depositing capital||Certificate of Authorization for GSO|
|7||Obtaining a license and certificate of registration|
Q) How to renew a license in Dubai Production City?
|S.no||For renewing the license|
|1||Cost of Renewal is less expensive than that of cost of incorporation.|
|2||Payment for renewal along with the signed lease agreement for the next year to be submitted.|
Copy of valid occupation agreement under freelancer name if applicable.
No objection certificate to concerned authority if applicable.
Q) What is the process to liquidate a company in Dubai Production City?
|S.no||Process to Liquidate|
|1||Cancellation of the visas|
|2||Termination of lease agreement|
|3||Closure of the bank account|
|4||Clearance from Customs in case the entity had a trading activity in the license|
Q) What are the competitive advantages to setup a business in Dubai Production City?
|1||Simple setting up process|
|2||No personal income tax and corporate tax|
|3||100% on foreign ownership.|
|4||100% profits and capital repatriation.|
|5||Holistic community offering a mix of residential, retail and commercial properties|
|6||Home to the shopping and entertainment hub City Centre Me’aisem|
|7||Dubai Production City offers pleasant ambience to its residents and visitors|
|8||Luxurious apartments with a range of configurations and amenities|
Why Spectrum Auditing?
Spectrum Auditing 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.
Reach us to have a frills free life in your journey in Dubai, UAE. We at Spectrum will assist you in taking care of all the legal procedures involved in the registration and de-registration of your company in Dubai Production City. Call us today for any kind of assistance at +971 4 2699329 or email us at firstname.lastname@example.org to get all your queries addressed. Spectrum is your partner in your success.
Article contributed by Aishwarya Parthasarathi, Intern.
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