The TECOM group is a subsidiary of Dubai Holding, which is a Dubai-based investment conglomerate that is controlled by the government of Dubai. The massive and industry-specific freezones created by TECOM in Dubai provide exciting business possibilities for entrepreneurs. Not only are these freezones reasonably priced in comparison to the rest of Dubai, but they also cater to the needs of commercial companies and other business-related needs.
TECOM freezones are developed and built in such a manner that they can satisfy the growing demand of companies of all sizes and levels in the UAE. Each TECOM freezone is segmented according to the kind of commercial activity it accommodates, making it more conducive to doing business.
Some of the most important business possibilities in Dubai’s TECOM Freezone include the following items:
Business-Oriented Jurisdictions: The availability of business-oriented jurisdictions in the TECOM freezone enhances the chances for doing business there. When it comes to starting a business in Dubai, companies that provide information technology services can do so in Dubai Internet City or Dubai Outsource City; media companies can set up shop in Dubai Media City, Dubai Studio City, or even Dubai Production City; and educational institutions can open a school or college in Dubai Knowledge Park. Dubai International Academic City is a new development in Dubai. Those looking to start up in the field of innovation should consider Dubai Science Park, while those looking to start up in the field of general industry should consider Dubai Industrial Park. Other options include establishing businesses in Dubai Wholesale City, Dubai Design District, or the newly added Emirates Towers Business Parks for premium business.
Benefits of Jurisdiction: As a freezone jurisdiction, TECOM has a number of benefits in terms of ownership structure, including investor choices and the ability to operate as a 100 percent foreign-owned company. Other benefits include the full repatriation of capital and earnings, the exemption of company and personal income taxes, the exemption of import and export taxes, state-of-the-art infrastructure, the absence of currency limitations, high-tech communication facilities, and so on and so forth.
Easy and Quick Business Establishment: Another major advantage of Dubai TECOM freezones is the ease and speed with which businesses may be established. As part of the TECOM freezones concept, a single point of contact is provided, making the process of establishing a company in these areas very quick and simple. This also enables companies to save valuable time so that they may devote more attention to the business possibilities in Dubai rather than to long administrative tasks.