Innovation City Free Zone Business Setup
Incorporation of business in Ras Al Khaimah Innovation City Free Zone, in Ras Al Khaimah created for digital-first businesses, Web3 companies and emerging technology ventures. As confirmed by the authorities jurisdiction is currently repositioned as innovation city freezone, first freezone in GCC specifically focusing to provide perfect ecosystem for technology based sectors such as AI, Web3, robotics and gaming
What is Innovation city Freezone?
Innovation City freezone is one of its kind freezone based in the emirates of Ras Al Khaimah. It offers a perfect community with a solution for a lot of entrepreneurs, innovators and technology-led businesses operating in areas such as blockchain, Web3, digital assets, gaming, artificial intelligence, metaverse solutions, software platforms and other digital-first activities.
Why Choose Innovation City Free Zone for Business Setup?
Entrepreneurs and investors of the current generation from a long time require a technology focused hub located in UAE and GCC which provides flexible licensing options and a future-ready business environment. Below are some additional benefits of incorporating a company in Innovation City freezone.
1. 100% Foreign Ownership
Innovation City Free Zone allows full foreign ownership without the need for a local sponsor or partner. This gives business owners complete control over operations, profits, and strategic decisions.
2. Internationally recognized free zone jurisdiction
Innovation City is a one stop solution led free zone, offering businesses a credible and strong platform for working on technology led businesses with complete legal security .
3. Flexible office solutions
Innovation City offers flexible office options to suit different business needs, from start-ups requiring compact solutions to established companies requiring space for bringing top talent from across the globe.
4. Suitable for AI, Block chain, Metaverse, and Digital consulting and technology start-ups, SMEs and Mid-Level established businesses
Innovation City supports businesses at every stage, making it suitable for new ventures, growing SMEs and established companies expanding into the UAE.
Type of Business Licenses in Innovation city Free Zone
Technology Licence
Perfect solution for companies involved in software development, platforms, digital solutions, AI tools, automation, robotics, healthtech and other technology-led services.
Web3 / Digital Assets Licence
Companies focusing on blockchain, Web3 infrastructure, metaverse, NFT platforms, decentralised applications and non-regulated digital asset-related activities
Gaming / iGaming Licence
Solution for gaming platforms, e-sports, interactive entertainment, game development and related digital gaming services. Business requirements and timeline are subject to activity approval.
Consultancy / Advisory Licence
Innovation City Freezone prepared perfect licence solution for companies to provide professional digital consultancy, technology advisory, blockchain advisory, AI consulting, business support and non-regulated professional services.
Commercial / Business Licence
Innovation City based businesses can apply for approved commercial activities. However, certain business activities require prior approval from the relevant authority before they can be conducted.
Company Structures Available in Innovation City
Free Zone Limited Liability Company (FZ-LLC)
A free zone limited liability company (FZ-LLC) is a legal organisation structure where the business shareholders' liability is limited to the investment in the company. This type of company structure is ideal for startups.
Free Zone Company Limited by Guarantee (CLG)
This licence type is different from FZ-LLC, Free Zone Company Limited by Guarantee (CLG) is a type of company structure with no share capital; instead, it is operated by members who are the guarantors of the company. It is the company's structure to establish the DAO (Digital Assets Oasis) association, a non-profit organization or a society. Here, in this structure, the guarantors of the company accept to cover potential debts and liabilities.
Branch Office or Wholly Owned Subsidiary or Subsidiary of a local or International company
- The branch office is a type of company structure that operates as an extension of the existing parent company. In this company structure, you will conduct the same licence approved activities as the parent company. It is one of the most preferred structures by foreign companies that want to expand their business operations and establish a presence in the UAE.
- Wholly Owned Subsidiary or Subsidiary operates as a separate licence which allows the companies to choose business related activities as per there own requirement.
Documents Required for DMCC Company Formation
Certified Passport copy of each shareholder, director, and manager
UAE residence visa copy and Emirates ID copy of each shareholder, director, and manager (If available)
Proposed company name
Selected Business Activities
Professional background or CV
Innovation City Electronic Signature Undertaking Form
Company setup process in Innovation City
Innovation City Freezone is very focused to be the first choice for Tech related aspiring entrepreneurs. We will walk you through the whole process clearly.
Choose Your Business Activity
- Select from more than 170 plus future-focused business activities for technology and digital-first companies.
Choose Your Business Structure or type of company
- FZ LLC (Free Zone Limited Liability Company) – the most common choice
- Free Zone Company Limited by Guarantee (CLG)
- Wholly Owned Subsidiary or Subsidiary of a local or International company
- Branch of an Existing Company – ideal for international or local expansions
Pre Approval process
To check with authorities regarding documents mentioned below will be approved to start the incorporation process.
- Certified Passport Copy Submission
- Business Plan
- Proposed name for the company
Structuring the Legal Entiry
- Submission of final Article of Association, Shareholder agreement (If applicable)
Apply for Your Trade License
- Submit the online application and required documents to the Meydan Free Zone Authority
- You can apply for commercial, consultancy, or media licenses based on your activity
Office Space
- Depending on Business activities and client requirements, offices in DMCC freezone range from flexi desk to private offices and full floor commercial units.
Receive Your License and Start Operations
- Once approved, you'll receive your business license, bank account introduction letter, and establishment card
Innovation City business setup cost Packages
- Multiple shareholders can be added in the company
- 0 visa included
- 10 standard or custom activities included
- Shared desk included
- Access to unlimited refreshments in Innovation city HQ
- Access to Innovation HQ event space and content creator studio
- One visa included (capped at 1)
- Single shareholder Company
- 1 custom or premium* activity allowed (over 200 technology and innovation-related options)
- Shared desk included
- Access to unlimited refreshments in Innovation city HQ
- Access to Innovation HQ event space and content creator studio
- One visa included (capped at 4)
- Multiple shareholders allowed under one Licence
- 10 standard or custom activities included
- Shared desk included
- Access to unlimited refreshments in Innovation HQ
- Access to unlimited access to Innovation HQ event space and content creator studio
Innovation City Business Activities
Why Choose OneHub Partners for Innovation City Company Formation?
OneHub Partners understand that every business is different and require high level expertise to ensure the complete process is the up-to-date and fully compliant. They focus on company law compliance, board procedures, director responsibilities, shareholder relations, financial compliance and legal requirements. This allows business owners to manage their companies with ease while focusing on their core business operations.
Start Your Innovation City Company Today
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