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This document provides detail on Dubai Health Care city, its facilities.
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Setting Up In Dubai Health Care City
Information Memorandum
DHCC Setting up in Dubai Health Care City
A member of UHY, an international association of independent accounting and consulting firms.
INTRODUCTION
Dubai Healthcare City (DHCC) is the world’s first healthcare free zone. It consists of the Medical Community, which is made up of 4.1 million square feet and is now operational and the Wellness Community, which is being planned through the Dubai Wellness Resort project. The medical community has grown rapidly to include over 80 clinics and 1200 professionals who are licensed by DHCC’s Centre for Healthcare Planning and Quality, to ensure that the services offered in the medical complex meet the highest international quality standards, such as JCI and, in the future, Trent Accreditation Scheme and ACHSI.
DHCC provides a full range of medical and complementary medical services including: immunology, anesthesia, cardiology, chiropractic, dentistry, dermatology, ENT, endocrinology, family medicine, pediatrics, gastroenterology, general surgery, internal medicine, neurology, obstetrics, ophthalmology, orthopedic, physical therapy, plastic surgery, radiology, and urology.
DHCC is to become the internationally recognized location of choice for quality healthcare and an integrated centre of excellence for clinical and wellness services, medical education and research. The Medical Community is also home to the Mohamed Bin Rashid Al Maktoum Academic Medical Centre with the integration of its entities, many of which have USA origins: the Harvard Medical School Dubai Centre (HMSDC) Institute for Postgraduate Education and Medical research; the University Teaching Hospital (UH); the Dubai Harvard Foundation for Medical research (DHFMR); Boston University Institute for Dental Research & Education Dubai (BUIDRE); and Al Maktoum Harvard Medical Library. This academic centre promises the most exhaustive medical reference search in the country via the Al Maktoum Harvard Medical Library.
Some of the benefits and incentives that Dubai Health Care City offers are:
100% foreign ownership
No personal, income and corporate taxes
No customs duty
DHCC Setting up in Dubai Health Care City
A member of UHY, an international association of independent accounting and consulting firms.
State-of-the-art facilities
Flexible real estate designed to suit the industry (laboratories, pharmacies, etc.)
Integrated healthcare community providing specialized quality medical care
Access to a network of regional and global healthcare professionals
No bureaucracy or red tape
One-stop shop for government services (visa service, permits, etc.)
Business support services (hospitality, events, etc.)
Apart from the above incentives offered by the Free Zone, investors can avail benefits from various Tax treaties concerned with the avoidance of double taxation. As of 2009, the United Arab Emirates has entered into double taxation agreements with 47 countries. This network includes treaties with Armenia, Austria, Belarus, Belgium, Canada, China, Czech, Finland, France, Germany, India, Indonesia, Italy, Korea, Malaysia, Mauritius, Netherlands, New Zealand, Pakistan, Poland, Romania, Seychelles, Singapore, Spain, Thailand, Turkey and Ukraine. UAE has also entered into a Transport Tax Treaty with India, Netherlands, Singapore, Sri Lanka, Switzerland and United States.
CHARACTERISTICS
Some of the unique features of the companies in the Dubai Health Care City are as follows:
Legal Entities Permitted Free Zone Limited Liability Company (FZ-LLC) A Branch Office of a Foreign Company A Branch Office of an UAE Company
DHCC Setting up in Dubai Health Care City
A member of UHY, an international association of independent accounting and consulting firms.
Type of Licenses Issued Commercial, Medical Institution & Service
Shareholders Minimum one, no maximum limit.
Shares No bearer shares will be allowed. All shares must be fully paid when allocated. No different classes of shares allowed.
Share Capital Share capital requirement are subject to the activity selected.
Minimum share value AED 1,000
Directors Minimum Directors - Two.
Manager Every FZ - LLC company shall have a manager. It should be a natural person and his name shall be on license.
Restrictions on Name Names must end with the word "Free Zone Limited Liability Company".
Few words for eg: “Dubai, U.A.E.” and religious words are prohibited.
Presence The shareholder has to be physically present either himself or through an attorney at the Free Zone.
Bank Accounts The company can open bank accounts with major banks operating in Dubai and also in other jurisdictions.
Audit The company shall appoint an auditor and file annual accounts before Annual General meeting.
Meetings A general meeting of the Company to be held at least once in each year.
Taxation There are no taxes on profits, capital gains or any other form of tax on the company levied by the government.
Facilities Offered Clinic space, land, laboratories, Pharmacy Shops
Visa Eligibility Employee Visa and dependent visa offer depending on size of office, type of company and activity.
Investor Visa Availability No
Governing Law Companies are subjected to the UAE law in general and for some specific function law of the Emirates of Dubai.
DHCC Setting up in Dubai Health Care City
A member of UHY, an international association of independent accounting and consulting firms.
DOCUMENTATION
Documents required for establishing an FZ - LLC
Individual Applicant
1. Submit applicant’s personal profile/business background
2. Resolution stating the following Appointment of the Negotiator or Legal Representative/Manager Power of Attorney Specimen of Signature Valid Passport Copy
3. Original Bank Share Capital & Bank Reference Letters.
Corporate Applicant
1. Board Resolution on Corporate Letter Head calling for participation in FZ LLC, Appointment of Negotiator & Manager & Legal Representative & Power of Attorney
2. Certificate of Registration (or) Certificate of Incorporation (or) Certificate of Good Standing of the Mother Company, Memorandum & Articles of Association of the Parent Company.
DHCC Setting up in Dubai Health Care City
A member of UHY, an international association of independent accounting and consulting firms.
Documents required for establishing a Branch Company
1. Certificate of Registration (or) Certificate of Incorporation (or) Certificate of Good Standing, Memorandum & Articles of Association of the Mother Company, Attachment of Specimen Signature, Passport copy & Power of Attorney for Manager.
2. Board Resolution calling for the establishment a branch in Dubai Health Care City and
guarantee full financial commitment.
UHY SERVICES
We offer a complete and comprehensive solution for incorporating companies in Dubai Health Care City. Apart from the incorporation services we can offer clients with other services as detailed below:
Bank Accounts
In opening the company’s bank account in the U.A.E and in some jurisdictions outside the U.A.E.
Auditing Services
Professional audit and assurance services in accordance with international standards.
Administration and Accounting Services
Our firm has a large pool of qualified staff which can take care of most of your administrative & accounting services.
Information and Technology Services
We provide a full range of IT software and business solutions through Multimission, a division of the firm.
DHCC Setting up in Dubai Health Care City
A member of UHY, an international association of independent accounting and consulting firms.
SERVICE AT A GLANCE
Audit and Accounting Services • External Audits
• Internal Audits
• Due Diligence
• Special Audits
• Financial Analysis
• Financial Modeling
• Accounting and Financial Advice
• Budgeting, Forecasting and Planning
Corporate Services
• Company Formations
• Liquidation & Insolvency Services
• International Tax Planning
• Outsourcing
• Offshore Trusts, Foundations & Companies
Consultancy Services
• Strategy & Corporate Planning
• Valuation, Mergers & Acquisitions
• Banking Advisory Services
• Business Restructuring, Change Management
• Project Management & Feasibility
• Litigation Advisory & Arbitration
• Human Resources
• Private Client Services, Contracts Consulting,
Global Advisory, Services & Fraud Investigation
IT Consulting Services
• Software Engineering Services
• Managed IT Services
DHCC Setting up in Dubai Health Care City
A member of UHY, an international association of independent accounting and consulting firms.
ABOUT US
UHY Saxena was established in 1992 and its initial focus was on servicing the accounting and auditing needs of its clients. Today, the firm specialises in corporate formation in the UAE free zones, mainland companies and offshore locations, in addition to providing vast range of consultancy services in the United Arab Emirates and globally.
UHY Saxena is a member of UHY International, an international association of independent accounting and consultancy firms. Each member of UHY International is a separate and independent firm. The firm has a team of qualified professionals on its panel supported by well-experienced and trained staff. The core team has a rich, collective experience and their diverse skills sets span across functional domains and geographies enabling the firm to deliver value added solutions for clients.
Services are provided by UHY Saxena in its own name and not by UHY International or any other member of UHY International. Neither UHY International nor any members have any liability for services provided by other members.
For further information on UHY Saxena or services offered, please visit our website at www.uhyuae.com
UHY Executive Office Quadrant House, 4 Thomas More Square, London E1W 1YW, United Kingdom Tel : +44(0)20 7216 4622 Fax : +44 (0)20 7767 2600 Email : [email protected]
Sharjah 408, Al Reem Plaza, Buhaira Corniche, P.O. Box 70828, Sharjah U.A.E. Tel : + 971 6 5745500 Fax : + 971 6 5749939 Email : [email protected]
Dubai 406, Atrium Centre, Khalid Bin Al Walid St. P.O. Box 23271, Dubai U.A.E. Tel : +971 4 3517007 Fax : +971 4 3517157 Email : [email protected]
Jebel Ali LOB 15, Office No 514 P.O. Box 17870, Jebel Ali Free Zone U.A.E. Tel : + 971 4 8814199 Fax : + 971 4 8816025 Email : [email protected]
Abu Dhabi 216, Emirates Towers, Hamdan St. P.O. Box 33763, Abu Dhabi U.A.E. Tel : +971 2 4124140 Fax : +971 2 4124111 Email : [email protected]
Disclaimer:
The brief setout herein is for information purposes only and does not constitute legal or professional advice. No responsibility will be accepted for loss incurred directly or indirectly as result of acting, or refraining from acting, wholly or partially in reliance upon information contained herein.
