Launched in 2013 by the UAE’s Prime Minister and Ruler of Dubai, Sheikh Mohamed bin Rashid al Maktoum, to encourage growth and investment in markets like digital media, arts, design, and fashion Dubai Design District (D3) is the latest of Free Zone business parks by TECOM Investments.
Valued at $ 27.6 bn., UAE has the largest market for design, outlining not just a business district, but an authentic, innovative community with a soul. D3’s vision is fully aligned with Dubai Strategy 2021 to create a “Cohesive Inclusive Community of Creatives’.” Designed by Foster and Partners, the phase 2 of D3 is due for completion in 2019 and it is specifically designed to forge an active community customized to fit contemporary business needs – from established names and global brands, to startups – D3 brings together the whole creative league under one roof and one principle: with creative energy, passion meets purpose. D3 is set to become the “playground” for more than 180,000 creative individuals and home for one-of-a-kind retail, dining, and unique entertainment concepts, providing its visitors with a distinctive experience.
Company Formation in Dubai Design District:
1. Free zone:
- Free Zone Limited Liability Company (FZ LLC).
- Branch of a UAE company.
- Branch of a foreign company.
- Freelance permit.
- Commercial and freelance.
2. On-shore: companies operating with an on-shore (DED) license are 51% locally owned and allowed to work in the mainland and inside the zone.
Business benefits of Dubai Design District:
Particular licensing for design and fashion with freelance permits for artists and designers.
0% personal income tax.
0% corporate tax for the first 50 years.
No currency restrictions.
Strategic location: in proximity to Business Bay, Dubai Mall, and Burj Khalifa
No limit on capital repatriation.
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