Set up a company in the Dubai Biotechnology and Research Park

The Dubai Biotechnology and Research Park opened in 2005. It is a part of Dubai Holding, one of the biggest business companies in the Emirate. The Biotechnology and Research Park, or DuBiotech for short, is the world’s first free zone for the life sciences business.

Below, our business formation agents in Dubai tell you about the best parts of Dubai Biotechnology and Research Park, also called Dubai Science Park.

You will be Interested on : Dubai Biotech Research Park

The main business forms available in Dubai Science Park

If a foreign owner wants to start a business in a free zone in Dubai and chooses Dubai Biotechnology and Research Park, they can use one of the following business forms:

• Free zone establishments that need a single shareholder who can be a foreign investor;
• Free zone companies that follow the registration requirements of Dubai limited liability companies;
• Branch offices of foreign companies that must follow specific rules set by the free zone authority;
• Branch offices of local companies registered in the UAE that must also follow the local rules.

Our company registration advisors in Dubai can tell you everything you need to know about starting a free zone business in the Dubai Biotechnology and Research Park.

Foreign owners who want to start businesses have a lot of options at DuBiotech, including:

• company registration and licencing services,
• leasing and government services,
• storage spaces like warehouses and land plots,
• office spaces, and labs.

You can also talk to our company incorporation agents in Dubai to find out about all the services offered in the Biotechnology and Research Park.

The regulatory environment in Dubai Biotechnology and Research Park

The Dubai Biotechnology and Research Park follows both UAE law and all international standards set by the Food and Drug Administration and the World Health Organisation in the life sciences field.

Together, the government and the Foundation for Research and Innovation help businesses in the medical, environmental, and agricultural fields do research. DuBiotech is working on a programme to give grants to Dubai companies that will help the economy.

If you want to start a business in the Dubai Biotechnology and Research Park, you can count on us to help you with everything.

Licencing options in Dubai Biotechnology and Research Park

As was said above, most of the things that can be done in the Dubai Biotechnology and Research Park Free Zone have to do with science. Those who want to do business here can get the following licenses:

• There are licenses for marketing activities.
• permissions for research and development activities,
• industry activities, import-export activities, warehousing activities, and consulting services.

Our local experts can help you start a business in DubioTech if you need help.

Keep reading : Company Registration in Dubai

How do I open a company in DuBiotech?

For overseas investors to start a business in the Dubai Biotechnology and Research Park, they need to send in the following documents:

• an application for registering a company,
• an application for a license,
• a business plan,
• a copy of the Dubai company manager’s passport,
• a copy of the director’s passport, and, if there are any,
• the papers of the Dubai experts in charge of the registration process.

The articles of association of the parent company must be filed with the Companies Register in Dubai by any business that opens a subsidiary or branch office in DuBiotech.

Starting a free zone company in Dubai Science Park

Before you start the process of forming a company in the Dubai Biotechnology and Research Park, it’s important to know that the standards depend on how the business is owned. One of the following shareholding structures can be used to create a free zone company:

• a single natural person;
• a single shareholder as a corporation;
• a natural person and a corporate one as shareholders.

It is helpful to know that the share capital requirements for starting a free zone business in DubioTech depend on the activities to be done.

When at least one of the shareholders is another business, the list of papers that need to be filed is usually longer because more information needs to be sent in.

When starting a free zone company in Dubai Biotechnology and Research Park, the following papers must be turned in:

• a business plan;
• information about the shareholder,
• such as a copy of the person’s passport or the company’s registration certificate,
• passports of the suggested directors and managers, and information about the company’s representative.

It’s also important to know that the minimum share capital needed to start a free zone business in the Dubai Biotechnology and Research Park is 50,000 AED. However, the minimum amount goes up to 300,000 AED if the company does any of the following:

• manufacturing and production of therapeutic goods;
• manufacturing and production of food;
• activities in the agriculture, horticulture, and forestry sectors; environmental activities;
• manufacturing and production of medical and scientific devices and equipment;
• manufacturing and production of special supplies

For these kinds of things, the free zone government will give out licenses that match what the Dubai free zone company does.

If you want to start a business in Science Park, Dubai, you can count on us.

Setting up a branch in DubioTech

There are no minimum share capital requirements for a foreign or UAE-based business that wants to open a branch office. However, the corporate shareholder needs to send in a copy of the license and certificate of incorporation.

You can open a branch office in the Dubai Biotechnology and Research Park with the help of our business formation agents in Dubai.

You will be Interested on : Business Setup Service in Dubai

What are the benefits of establishing a company at DuBiotech?

When a business is registered in the Dubai Biotechnology and Research Park, there are many perks, including:

• Full foreign ownership is permitted.
• Full repatriation of capital and profits is allowed.
• no taxes on operations,
• customs exemptions.

Here are a few more useful facts about starting a business in the Dubai Biotechnology and Research Park:

• Companies that work here can get long-term leases for at least 15 years.
• The laboratory facilities at DubioTech cover 256 000 square feet, and the free zone has 25 warehouses that are each 5000 square feet.
• Companies that import and export goods get special customs exemptions.

Taxation of companies in Dubai Biotechnology and Research Park

When it comes to paying taxes, companies in Dubai Biotechnology & Research Park must follow a few rules, some of which have to do with the value-added tax. Our experts on setting up businesses in Dubai explain how taxes work in Dubai Science Park below. We can also help you start a business in Science Park or on the rest of Dubai’s land.

What taxes are companies in this free zone required to pay?

From a tax point of view, Dubai is a well-known city that has a lot going for it. In Dubai’s free zones, like the Dubai Biotechnology & Research Park, people and businesses don’t have to pay income tax. This means that some companies that do business here won’t have to pay any corporate tax. Only the corporate incomes of foreign companies with branches in this free zone will be taxed at a rate of 20%.

Taxation of foreign shareholders in companies set up in Dubai Science Park

The fact that full foreign ownership is possible is one of the best things about the Dubai Biotechnology and Research Park. Even if foreign investors, whether they are individuals or businesses, won’t have any financial problems in Dubai Biotechnology & Research Park, they should think about the following:

• They can be taxed in their home countries on the money they make in the Dubai Biotechnology & Research Park.
• If their home country has a double tax treaty with the UAE, they may be exempt from some taxes.
• If they don’t have a double tax treaty, the foreign owner of the company may be able to get a deduction.
• The operations that companies owned by foreign investors do in the Dubai Biotechnology & Research Park are not taxed.

Our company registration experts in Dubai can help foreign entrepreneurs who want to set up businesses in the Dubai Biotechnology and Research Park.

Keep reading : Business Setup in Dubai Freezone

The VAT and excise tax in Dubai

The value-added tax is one of the newest taxes in Dubai. The income tax has been around for a while. When setting up a free zone business in Dubai, it’s important to remember that when selling goods and services, including in the Dubai Biotechnology & Research Park, the company must pay both the value-added tax and the excise tax.

The VAT is set at 5%, which is not only one of the lowest rates in the area but also one of the lowest rates in the world. But in Dubai Science Park, there are some ways to avoid or reduce this tax. VAT doesn’t apply to healthcare services, so companies in Dubai Biotechnology & Research Park can avoid paying VAT if they offer healthcare services.

When it comes to the excise tax, it only applies to the sale of certain things, like cigarettes, soda, and other bad things. In Dubai Biotechnology & Research Park, the excise tax, which is 50% or 100% of the price of these things, is only charged to companies that sell them.

Tax compliance for companies in Dubai Biotechnology and Research Park

Even if they won’t have to pay corporate tax, companies in Dubai Biotechnology & Research Park must still register with the tax authorities and file tax returns. Foreign shareholders must also file tax returns in their home countries in order to get tax breaks or deductions.

Also, businesses in Dubai Biotechnology & Research Park must sign up for VAT and file tax forms to show that this tax was collected and paid. In Dubai, VAT returns must be filed every month or every three months, depending on how much money the company makes each year.

We help foreign business owners in Dubai who need to keep their financial books up to date.

Tax advantages in Dubai Biotechnology and Research Park

People who start businesses in Dubai Biotechnology & Research Park will get tax breaks in the following ways:

• no corporate tax;
• free repatriation of profits;
• no taxes on the operations completed here;
• various customs exemptions on import and export activities.

You will be Interested on : Company Formation in Dubai

For additional information about investment possibilities in DuBiotech, please contact our Dubai company formation agents.

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