Dubai District also famous as D3 is the branded face of Dubai City.
Dubai Design District, often known as D3, is the city’s branded face. Tecom Group Dubai operates nine clusters, including the D3 free zone. The Dubai Development Authority (DDA) oversees the licensing and regulatory requirements for these cluster-free zones.
You can start and register a new business, or you can launch a franchise/branch of an existing one. The DDA office will handle the business setup and registration procedure for the selected 09 clusters, including the D3 free zone.
If you want to be a part of a thriving and innovative business community in Dubai, the D3-free zone should be on your radar. The Dubai Design District, D3 City, aims to bring together designers and creative thinkers. It is meticulously planned to be constructed as a cluster of art, design, and modern culture that represents the picture of modern Dubai.
ebs accounting has created starting and auditing guidelines for our clients. Let’s take a look at the most important aspects of doing business in D3.
The Benefits of Choosing Dubai Design District D3 for Business
At D3, you will become a member of an exciting and innovative culture. The D3 city aspires to bring together the greatest of the world’s youthful, authentic, and rising talent. The Dubai Design District was established to promote local design talent to the rest of the globe. It offers Arab designers a dynamic and lively platform to display their ability to a worldwide audience.
The D3 free zone was inspired by the notion of combining local expertise in the Design sector with world-class skills.
Here are some of the main advantages of conducting business in D3 city:
- 100% ownership of a business without the necessity for a local sponsor
- VAT exemptions in both free zones and D3 zones
- Join the Design industry’s network of world-class companies.
- Profits and earnings are fully repatriable.
- There are no corporate or income taxes.
Located in a strategically significant commercial district.
Businesses must register their corporation and conduct their operations in line with all UAE
regulations. Companies in all free zones must also follow financial restrictions. Compliance with accounting and auditing standards is one of the most important criteria for all enterprises operating in free zones. Companies in Dubai Design District D3 must only provide audit certification from D3-approved auditors.
In general, any registered auditing business in the UAE can perform auditing services. However, only approved auditing businesses in D3 and other free zones are permitted to provide auditing services.
D3 Dubai Design District Company Registration Requirements
Here are some essential needs for starting a company in D3:
Registration Application Original or Notarized Certificate of Continuity, Existence, or Good Standing of Parent Company Original or Notarized MoA and AoA of Parent Company Original or Notarized CV of Member(s) Copies of Bank Reference Letters for Members Notarized and Attested NOC for General Manager from Current UAE Sponsor (if applicable) Original Registry Identification Code (RIC) form for Member(s), Director(s), and Manager Original & Notarized RIC form for Corporate Copy Proof of Share Capital from a UAE Bank or Deposit Receipt in Dubai Development Authority Trust Account Original Ultimate Beneficial Ownership (“UBO”) Declaration Form Original
AED 100,000 is the minimum share capital required for new firms at D3. Different regulations and licensing costs apply depending on the number and kind of company categories.
Auditors approved in Dubai Design District, D3
Financial records and accounting standards are equally crucial for all UAE firms. There is a DDA-certified auditors list, as with all Free Zone administrations. Accounting and auditing services can be provided by these recognized auditing companies to enterprises in all DDA clusters, including the D3.
The Advantages of Working with Approved Auditors in D3
The Federal Tax Authority FTA and the Finance Ministry provide strict guidelines for fair financial conduct in the UAE. The free zone authorities also want their clients to maintain the greatest level of financial honesty. One of the key requirements to provide authorities like the FTA is to comply with the auditing certification. Your business in the D3 will be income and corporate tax-exempt but will need to provide the auditing certification from approved auditors in D3 to the FTA.
Here are some of the key benefits of partnering with approved auditing firms in D3:
- Compliance with legal and statutory laws in the UAE.
- Compliance with taxation and financial regulations issued by the FTA in the UAE.
- Increased business goodwill and brand value by transparent conduct of business.
- Improved financial accuracy by partnering with leading approved auditing firms in D3.
Compliance with International accounting standards and generally accepted accounting principles for both local and international businesses in D3.
ebs will provide you with the best auditing services in the mainland and also in the Freezone. We are exhilarated to help our clients manage their accounting and bookkeeping services on time. Don’t hesitate to contact us and book a free consultation.
ebs is accessible to help you in finding out about bookkeeping in the UAE. ebs likewise offer services, for example, accounting and bookkeeping services, VAT services, Auditing, Due Diligence audit services, and many more.
Feel free to contact us with any additional inquiries or requests for accounting services. A free discussion will be given to you by our specialists, who will answer your request immediately.