What is Dubai Science Park (DSP) Free Zone?
Dubai Science Park is a free zone established in the year 2005 by the Dubai Development Authority (DDA) which supports innovation in the field of science by providing the right enabling environment to foster growth and development in pharma, health and wellness, as well as life, human, plant, material, environmental and energy sciences.
Dubai Science Park is the region’s first free zone community that serves the entire value chain of the science fostering an environment that supports research, creativity, innovation and passion, ensuring a supportive ecosystem for businesses to establish sustainable and positive change. Dubai Science Park is a hub for more than 350 small and medium sector companies as well as hosting multinational companies employing more than 3600 professionals currently.
What are the benefits of setting up a company in Dubai Science Park ?
Like the many dynamic free zones in UAE, Dubai Science Park also provides a host of benefits for those setting up a company as an exclusive avenue for scientific initiatives. Major benefits of doing business in DSP are:
- 100% foreign ownership
- Zero corporate tax
- Zero personal income tax
- 100% repatriation of profits and capital
- 24/7 security
- Parking facilities
- Options to choose between flexi desks, commercial offices, warehouses, laboratories etc.
- You can design and construct your office according to your requirements and business needs
- One year minimum lease plan
What are the other advantages of choosing Dubai Science Park?
Dubai Science Park’s holistic all-inclusive community offers business, retail and residential lifestyle options in a diverse yet harmonious atmosphere, with international schools, hotels, nurseries, parks, a variety of international restaurants, and more.
- Residential Community: The beautiful, thriving and centrally located residential area is an important part of the community in Dubai Science Park, including the Montrose Residence, Villa Lantana and more.
- Retail: Various retail outlets including My City Centre Al Barsha serve the community, in addition to Mall of the Emirates and various retail outlets nearby, serving a community of over 3,600 professionals.
- Fitness: It’s easy to stay true to your fitness goals in Dubai Science Park with skate parks, sports parks and various gyms in and around the community.
- Healthcare: Accessible health and wellness facilities within and around the community including Mediclinic Parkview Hospital, Medcare Medical Centre and Emirates Hospital, so you can focus on what matters most.
- Hotels: The Residence by Rotana (Cayan Cantara) is one of Dubai Science Park’s several business and leisure hotels, perfect for every occasion.
- Schools: There are a number of reputable schools near Dubai Science Park including Foremark, Kings School Al Barsha and GEMS Schools.
What type of companies can you set up in Dubai Science Park?
Dubai Science Park offers business licences to the following types of companies:
- New incorporation of a Free Zone Limited Liability Company (FZ-LLC)
- Branch of an existing foreign/UAE company
- Freelance permit
What are the different commercial working spaces available at Dubai Science Park?
Dubai Science Park offers a variety of strategically located office spaces that form a vibrant and supportive environment for businesses to grow and thrive.
- Co-working Spaces
This is a dynamic business environment with a variety of shared and private spaces, flexi desks, shared and private offices, meeting rooms and more.
- Light industrial units
This is a strategic multi-purpose Light Industrial Units. Expand your business with multipurpose Light Industrial Units with ready infrastructure and grade-A build standards in Dubai Production City and Dubai Science Park.
Some benefits:
- Dubai Production City – 7,500 to 13,800 sq.ft
- Dubai Science Park – 5000 to 6000 sqft
- State-of-the-art fire protection systems
- You can join multiple units
- 24/7 security
- Office space is located in the mezzanine area of the unit
- Apt for storage, showroom, production & light manufacturing
- Dedicated service roads for heavy vehicles and forklifts
- On-site parking and loading area
- Commercial spaces
The Dubai Science Park Towers are landmark buildings that offer brand new commercial spaces with a variety of spaces, convenient parking, effective facility management services, as well as advanced security systems. The DSP towers create a relaxing and convenient environment for professionals and residents alike by providing numerous retail outlets and restaurants along with beautifully landscaped common areas.
- Laboratories
The eco-friendly LEED-certified Laboratory Complex which has been designed to meet the highest global standards, serves businesses in the science sector whose activities range from research and product development, testing, diagnostics, manufacturing as well as production. The shell and core spaces are equipped with air exhaust and ventilation systems, an acid resistant drainage, pH neutralization system and other technical features to cater to its community. The eco-friendly Laboratory Complex has received LEED Silver Certification, echoing its environmentally responsible profile.
- Warehouses
Optimize your business logistics with Dubai Science Park’s strategic multi-purpose warehouses.
The warehouses are designed specifically for storage, showroom, distribution, logistics and light manufacturing for the science sectors, each warehouse encompasses a mezzanine floor for office and pantry. In close proximity to other Dubai Science Park facilities, these purpose-built warehouses are a convenient option for businesses in the free zone community.
- Area: 5000 to 11000 sq ft
- Internal light fittings
- You can join multiple units
- Apt for light manufacturing, logistics & storage (cold, chemical & general)
- Includes office space and retail showrooms
- State-of-the-art fire protection systems
- On-site parking and loading area
- 6x6m sliding main door
- 24/7 security
How long does it take for the company registration to be completed in Dubai Science Park?
Once all the required documents and payments are submitted, it usually takes 7 working days, which can be broken down into two phases:
- First phase: Initial application approval, which takes 4 working days.
- Second phase: Issuing the license, which takes 3 working days.
What are some of the well-known companies present in Dubai Science Park?
Pfizer, Medtronic, Olympus, Mettler Toledo and First Solar are some of the many MNCs present at Dubai Science Park.
Corporate tax applicability to the companies in Dubai Science Park:
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.}
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 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 Science Park. Call us today for any kind of assistance at +971 4 2699329 or email us at [email protected] or you can also fill our contact us form to get all your queries addressed. Spectrum is your partner in your success.
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