The investment opportunities in Dubai have not emerged as much as import, export, commodities, healthcare, e-commerce, or real estate. Hence, investors can capitalize on profits by establishing a media or production company.
Being one of the free zone areas in Dubai- Dubai Media Center is considered a global media hub across the globe. Dubai Media City has been designed for companies that are looking to create content or produce media-related services. It is one of the most popular destinations for international media companies and content creators. DMC is providing enormous business opportunities for media & entertainment entrepreneurs.
Media-related freelancers & business owners choose DMC as their first choice for media company since it is an ideal base, creative hub as well as license obtaining & fees & quite low & straightforward.
As a free zone, Dubai Media City company formation is also efficient because of free taxation, full foreign ownership & also connecting with international communities for collaboration opportunities. In this article, we are going to cover types of licenses in DMC & how to apply to obtain the license.
What is Dubai Media City Center?
Established in 2000, DMC free zone was inaugurated in 2001, which was initiated by the electronic, technology, commerce & media group. DMC is considered the capital of Arab media because of its strategic location, media-friendly environment & advanced development of the media industry.
DMC is now considered as a regional media hub for various types of famous media organizations & some of these companies that have set up their headquarters in DMC include- CNN, CNBC, Reuters, Sony, MBC, Showtime, Bertelsmann, Al Jazeera Media Network, Abu Dhabi Media Company, Dubai Film & TV Commission & many more. It is a home of more than 2000+ businesses like online media, publishing, advertising, news agencies, production & broadcasting channels.
Located in a key & prime location, DMC is a junction of the Middle East, Africa, and South Asia. Also, it is only 20 minutes away from the Dubai international airport which is the world’s largest airport & a wide-ranging link for people around the world.
DMC is a part of the Technology Electronic Commerce and Media group (TECOM) & it is under Dubai holding. As a center of the media business, DMC promotes media talent & entrepreneurship in the whole region & it facilitates specifically media-based freelancers & independent media & production companies/professionals.
Dubai Media Center initiated a bunch of business facilities like other free zone companies in Dubai. Offshore company formation in DMC is very easy & straightforward as expats can find them as an individual entity with 100% foreign ownership. Up to 50 years, owners don’t have to bear any personal, income, or corporate taxes.
Apart from these, different types of government service like- company registration, license issue, visa & postal service could be done with a short span of time. Last but not the least, its business-friendly laws, legal framework, world-class famous infrastructure help to immerse & grow the business.
Business Activities in DMC
Dubai Media City is a media free-zone and a government-owned property that offers a wide range of incentives to attract international businesses to set up their offices there. This includes tax incentives and exemptions from federal income taxes on profits generated. Most of the DMC business activities fall in the media category. Activities permitted in DMC free zone includes:
- Event Management
- Publishing & Advertising
- Media & Brand Consultancy
- News Broadcasting
- Web Design
- Media Support Service
- New Media
- Music & Post Production
Licensing in DMC
The Dubai Media City Free Zone's legislation is operated by an independent entity called Dubai Technology and Media Free Zone Authority (DTMFZ). This framework offers companies the benefits of international standards to conduct business activities in a premium environment. To start operating in Dubai Media City, you need an approved trade license or company license from the DTMFZ.
Dubai Media city license allows investors to operate in three different locations: Dubai Media City, Dubai Studio City & Dubai Production City.
Before applying for any type of license, you should keep a clear knowledge about the types of companies you can operate in the DMC free Zone. There are three types of business entities you can form & operate:
Freezone Limited Liability Company(FZ-LLC)- It is the most common business entity you could find. It permits you more than one shareholder option which can act as an individual or corporate entity.
Branch Office For Overseas Company: Foreign investors can open a branch office of their parent company & register as a separate entity.
Freelancer Permit: Any individuals can convey their business activities in DMC.
Two types of license owners can obtain from the DTMFZ:
DMC Commercial Licence: Freezone companies, free zone limited liability companies & branch offices can obtain this commercial license. This license has one-year validation & can be renewed yearly.
Freelance License: This license enables any individual to work as a freelancer legally. Don’t require any education certificates, but he/she should have previous freelancing experience is mandatory. This freelance permit license is also known as a professional license also in DMC.
To apply for the suitable license type you need to follow the following steps:
- At first, you have to complete an application form & have to submit this form with the required documents to DTMFZ.
- Types of documents can be different between FZ-LLC & branch office for overseas company & local company
- For freelance license permission, you need to show a portfolio, cover letter, or reference letter.’
- Then you have to pay a license fee depending on the license type.
You can also renew your license any time after one year & the renewal process is quite simple & highly cost-effective as well. For the renewal process, you need to show the audit report of your company, pay renewal fees & lastly submit a signed lease agreement. You can complete the entire renewal process through any agency, you don’t need to be physically present.
Dubai Media City is a center for all types of media & broadcasting companies, the company formation process to obtain the license, apply for a visa & finally start the company is much easier than any location. Also, this Freezone provides multiple types of investment opportunities for freelancers & individual professionals as well.
You can start your first company in DMC with the professional guidance of KWS- one of the leading business consultancy firms in Dubai. We can provide you with the guideline to obtain a trade license in Dubai, as there are different types of legal laws & frameworks based on the economic zone.
For more business consulting advice contact KWS. KWS is a leading business consulting service that provides- any kind of business setup services in Dubai, Offshore company formation in Dubai, business support(Trade license, Visa service, Legal Translation service, Trademark Registration, Company liquidation, Finding local sponsors) & so on.