Dubai Media City
The perfect blend between the east and the west. Dubai is a city where you’ll find a little bit of everything. It’s a place where there is true globalization in its very sense existing in almost every field and aspect of living. Dubai Media city is a global hub, a tax free zone built by the government to boost the country’s media base where an array of organizations in the media business meets to flourish and thrive together. It is located within the city of Dubai, a member of Dubai Holding, helps benefit businesses to work both in national and international markets. Dubai Holding is a government based investment group.
The Prime Minister, Ruler and Vice President of UAE, His Highness Sheikh Mohammed Bin Rashid Al Maktoum had a vision to evolve Dubai into a society based on knowledge and promising economy. The DMC is a reflection of his very own vision among many other hubs and centres around the UAE, which have made Dubai the most happening city today around the globe. This media city was founded to increase the media market while enabling high-end class services to all media related industries in one single hub. The entire area comprising the media city is built and spread around 30 buildings housing different companies from around the world. It is built with high class facilities and ambience catering to all kinds of media and media marketing related businesses be it music, printing, publishing, broadcasters, film distribution, entertainment, web designing or consulting among others. The media city has been equipped with the latest technology and infrastructure, with freedom of capital movement and as well as the ability to access and reach markets globally. The regulatory environment at the media city is governed by TECOM i.e., (Dubai Technology, Electronics Commerce and Media free zone authority).
A few major broadcasting companies based in the Dubai media city are CNN, BBC World, Ten Sports, Reuters, Bloomberg, Sony, APTN, and MBC (Middle East broadcasting centre) among many others. Here, all companies are given the “freedom to create”, a flexible working environment making this hub a dedicated nucleus to base productive business in Media. The entire location comprising of around 30 blocks or towers has been surrounded with lush landscapes along with a lakeside amphitheatre, and art galleries catering to aspects of organizing events and promotional ceremonies.
At the Dubai media city, companies that have a minimum capital of 50.00 dhs (dirham) are eligible to start as a free zone limited liability company and the DMC assists in all other arrangements or procedures in starting a business in the heart of the city of Dubai. Visa arrangements, work permits or even resident permits are taken care of. Companies who wish to start a business out of the free zone are required to collaborate with a local sponsorship, therefore allowing a 100% foreign ownership of one’s company. The Dubai media city currently houses 30 buildings with another 27 in the making, with a new building coming up every 3 months. The free zone facilitates to 3 hotels, while another 10 hotels are expected to come up by 2010. The DMC already has 1200 registered companies with another 400 on the waiting list making it the Mecca of media business across the globe.
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