Dubai free zone: IFZA vs Silicon Oasis vs DMCC

[dubaiwammy]

Looking into free zones in Dubai. And I'm reading conflicting information which is usually the case

DMCC seems to be the most reputable, but the most expensive and stringent. I've had a look at Dubai Silicon Oasis and they seem cheaper, but still reputable and fit my business activity. And then there's IFZA, the cheapest and also fits all my needs.

My company will have substance as I'll be living full-time in Dubai with a rental contract. What about banking?

I assume DMCC will be seen as the most respected, but will there be an issue with Silicon Oasis or IFZA? I'll be renting an office space just in case even if I don't need it just so it's easiest with banking.

Is there any major difference I should know about Silicon Oasis vs IFZA?

 

[CaptK]

IFZA manage DOSA on behalf of the government, so they are the same thing.

 

[dubaiwammy]

IFZA manage DOSA on behalf of the government, so they are the same thing.

I didn't know that. Interesting. So from the banks perspective, it doesn't matter?

If I was deciding between the two, is there a difference? From browsing around the forum it seems DOSA has audit requirements, but IFZA don't? Is the true? Anything else?

 

[troubled soul]

Yes, IFZA does not required audit as of now. Nobody can predict what will be the rules in the future,
Having said that
If you are looking for a fast, easy and remote business set up option, IFZA is a good solution for you.

DMCC is the best option for those who want to open a real office within Dubai in a developed business community. Even if you start with a flexi-desk, it’s a good opportunity to expand without changing the place of your company registration. But keep in mind that DMCC has too much rules and regulation and bureaucracy. You have to
Demonstration of company capital to DMCC authority ,Appointment of auditors ,Stamping shares certificates ,Carrying out office inspection if you have rented one so on.

Use your discretion for decision. There is no right or wrong. Most important thing is what suits you the best.

Thanks

 

[Fred]

Like said already many times the minimum someone has to effort is Dubai in terms of reputation and substance.

However when you have a low risk business which most guys have - the most affordable ones in Dubai are sufficient as long as you know how to handle the banks and how to bring the necessary substance with you.

With other words a DMCC on flexi desk gets exactly same way rejected like a DSO company.

DMCC made sense in the past when you were in physical Gold and Diamond Trading however as all banks anyway either completely reduced there exposure in this particular business or dramatically reduced it - there is no benefit nowadays with it but a downside of high initial costs and high maintenance fees due to audit/accounting requirements.

From your questions I have the impression we had a call/conversation anyway already and I can just repeat myself here again.

 

[dubaiwammy]

Like said already many times the minimum someone has to effort is Dubai in terms of reputation and substance.

However when you have a low risk business which most guys have - the most affordable ones in Dubai are sufficient as long as you know how to handle the banks and how to bring the necessary substance with you.

With other words a DMCC on flexi desk gets exactly same way rejected like a DSO company.

DMCC made sense in the past when you were in physical Gold and Diamond Trading however as all banks anyway either completely reduced there exposure in this particular business or dramatically reduced it - there is no benefit nowadays with it but a downside of high initial costs and high maintenance fees due to audit/accounting requirements.

From your questions I have the impression we had a call/conversation anyway already and I can just repeat myself here again.

HI Fred,

We haven't been in touch before, but perhaps it would be good to have a call. Is it possible to set up a Microsoft teams/Zoom call to learn more early next week?

If not, can you clarify perhaps if one's banking options are reduced if going with IFZA compared to DSO, or are these free zones seen as equal by the banks? There's no issue getting office space if needed. I've dismissed the DMCC from consideration.

 

[Fred]

HI Fred,

We haven't been in touch before, but perhaps it would be good to have a call. Is it possible to set up a Microsoft teams/Zoom call to learn more early next week?

If not, can you clarify perhaps if one's banking options are reduced if going with IFZA compared to DSO, or are these free zones seen as equal by the banks? There's no issue getting office space if needed. I've dismissed the DMCC from consideration.

Hi,

if we haven't been in touch yet - you definitely ask the right questions.

Just click banner below and send either E-Mail or direct WhatsApp/Telegram and we setup a personal call.

 

[dubaiwammy]

Hi,

if we haven't been in touch yet - you definitely ask the right questions.

Just click banner below and send either E-Mail or direct WhatsApp/Telegram and we setup a personal call.

Thanks. I just sent you an email. My username on here is in the email.