The UAE’s dedication to developing biotechnology and the pharmaceutical sector is exemplified by Dubai Science Park (DSP), formerly known as Dubai Biotechnology and Research Park (DuBiotech). The TECOM group founded DSP in 2005, and it is the only commercial jurisdiction in the world devoted solely to biosciences.
This free zone facilitates flexible capital movement and offers specialised infrastructure and supportive facilities to enable a knowledge-based economy. By forming partnerships with esteemed medical facilities and science-related organisations, DSP actively promotes scientific entrepreneurship. This cooperative environment fosters a chain reaction of improvements in the scientific domains, offering SMEs and multinational corporations alike a vibrant platform to drive research, develop, and contribute to a knowledge-driven economy.
With an eye toward expansion, DSP works to encourage domestic bioscience and pharmaceutical innovation and manufacturing to lessen dependency on imports. Some of the DSP’s industries have already started this shift, showcasing the park’s cutting-edge amenities and establishing Dubai as the world’s centre for life sciences. Dubai Science Park is at the forefront of groundbreaking discoveries in life science thanks to its dedication to innovation, research, and creating a supportive atmosphere.
Why Set Up Business in Dubai Science Park?
Dubai’s ambitious aim to lead the world in scientific research and development while creating an ecosystem that can sustain itself depends heavily on Dubai Science Park. The cutting-edge resources found in the park offer firms significant support and facilitate the quick advancement of research and development projects.
Additionally, being located in Dubai Science Park gives firms access to millions of potential clients as well as the opportunity to explore the enormous regional markets of the Middle East and North Africa (MENA). Establishing a business at Dubai Science Park is the best approach for companies looking to advance their development and reach new heights.
The Dubai Science Park (DSP) free zone offers a wealth of advantages to businesses who are interested in establishing a firm in this cutting-edge zone and provides access to the life sciences. The benefits of setting up a business in DSP are –
- Flexible leasing option
- 100% foreign ownership
- World-class infrastructure
- Access to advanced technology
- Full repatriation of capital and profits
- Exemption from import and export duties
Documents Required to Set Up Business in Dubai Science Park
Here are some of the documents required to set up business in Dubai Science Park –
- Passport copies of shareholders and managers
- Proof of residential address for shareholders and managers
- Business plan outlining the nature of the scientific venture
- Memorandum and Articles of Association
- Bank reference letter for shareholders
- No Objection Certificate (NOC) from current sponsor (if residing in the UAE)
- Power of Attorney (if applicable)
- Lease agreement for office space within Dubai Science Park
- Trade name reservation certificate
- Application forms provided by Dubai Science Park
- Additional documents may be required based on the type of business and jurisdiction.
Types of Licence Offered in Dubai Science Park
Enforcing licencing requirements in Dubai Science Park (DSP) and assisting in the development of new businesses within the park are major responsibilities of the Dubai Creative Clusters Authority (DCCA). The DCCA offers the following licences –
- Industrial Licences
- Commercial Licences
- Professional Licences
Getting the necessary licence is a requirement for companies and people in the service sector who want to operate inside the free zone. Legal authorisation to work for or render services to any employer, client, or customer in the United Arab Emirates is granted by the possession of a professional licence.
Furthermore, those who possess a professional licence are authorised to partake in activities that correspond with their qualifications and fields of specialisation. Businesses operating within Dubai Science Park can benefit from the flexibility and regulatory compliance thanks to the DSP Free Zone Authority’s licencing framework.
Frequently Asked Question
Operational costs may include rent for office space, utilities, employee salaries, and other business expenses. The exact costs can vary depending on the size and nature of the business.
Yes, businesses in Dubai Science Park are encouraged to engage in research and development activities to foster innovation and scientific advancement.
Businesses in Dubai Science Park benefit from Dubai's favorable tax environment, including no corporate or personal income taxes, no withholding taxes, and no import or export duties.
Contact us now for a smooth business set-up procedure.
Fill in the contact form to schedule a free consultation. Our experts will get back to you in 24-48 hours, and we will ensure we understand your requirements.
