DUBAI INTERNATIONAL ACADEMIC CITY (DIAC)
ABOUT DUBAI INTERNATIONAL ACADEMIC CITY DIAC COMPANY FORMATION
Dubai International Academic City (DIAC) is the world’s only Free Zone dedicated to Higher Education. Established in 2007 as part of TECOM Investments, DIAC aims to develop the region’s talent pool and establish the UAE as a knowledge-based economy. The intention is for Academic City to be a base for schools, colleges and universities, while Knowledge Village will house training institutes and educational service organizations. Dubai Academic City will create a global academic destination that provides all institutions housed in it with opportunities for communication, experience-sharing and cooperation to utilize latest technologies and processes, said a senior official.
BENEFITS OF DUBAI INTERNATIONAL ACADEMIC CITY DIAC COMPANY FORMATION
100% foreign ownership; full repatriation of profits and capital; 100% tax free; guaranteed 50-year exemption from personal, income and corporate taxes; exemption from customs duty for goods and services
A unique cluster environment where businesses across the industry value chain share a work campus dedicated to their industry, and can interact and collaborate effectively; communities that are anchored by leading global, regional and local names in the industry; state of the art technical and community infrastructure to support and foster the growth of the cluster
Simple and streamlined company registration; business-friendly company laws and legal framework; one-stop shop services that provide business partners with licensing, traffic and postal services; 24-hour visa service; quick access to knowledge workers due to fast-track immigration process
PRODUCTS OFFERED IN DIAC FREEZONE
DIAC provides different land options to partners including education, mixed-use, student accommodation, retail and hotel plots. Plots are purposefully selected to match the needs for educational institutions, residential apartments, accommodation and dormitory facilities, shopping centers and super markets and Hotels.
Commercial floors are offered to entities which meet licensing requirements of DIAC.
The DIAC Business Center offers a selection of products and services ranging from hot desk to fully furnished complete office environments. A company may choose any type of desk or office space depending upon its requirements.
FEATURES OF DUBAI INTERNATIONAL ACADEMIC CITY DIAC COMPANY FORMATION
- 100% foreign ownership
- 100% Freedom from taxes
- 100% Repatriation of profits
- Effortless visa issuance procedures for students, staffs and faculties
TYPES OF LICENSES IN DUBAI INTERNATIONAL ACADEMIC CITY DIAC COMPANY FORMATION
- Academic Service Provider
- Educational Services Provider