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F.A.Q.

FAQ 1. Which is the law protecting the investment and giving guaranteed security to the buyer?

1. The ESCROW ACCOUNT law is designed to protect buyers and will apply to all developers selling units on an off-plan basis in Dubai assisting the on going of the construction by the Real Estate Regulatory Authority.


FAQ 2. Why Dubai is considered to be the new international "Safe"?

2. The Tax Free Zones transformed Dubai in an new World's "Safe" as happened in the past with Montecarlo, Singapore or Panama.


FAQ 3. In which way Seasif Group guarantees maximum thrust to the buyer?

3. The SEASIF organization, in the productive area but also in the sales management, guarantees maximum thrust to the buyer controlling directly all the steps starting from the sales until the final management of the buildings.

To give maximum guarantee to the investor, Seasif Group Company has created an internal Legal Department with more then 30 consulters fro the selling transactions.


FAQ 4. Which is the Value Proposition of Dubai Silicon Oasis?

VALUE PROPOSITION

  • 100% foreign ownership
  • 100% repatriation of capital
  • Zero Income tax
  • Zero corporate tax
  • State of the art IT infrastructure
  • Subsidized EDA tools
  • Stringent IP laws and support
  • Fast-track business set-up
  • 30% reduced costs for technology companies
  • Subsidized accommodation for technology companies

FAQ 5. Which are the "Dubai Silicon Oasis" Free Zone benefits and licences?

FREE ZONE BENEFITS:

Regional Advantages

  1. Dynamic 21st century city
  2. World-class infrastructure
  3. Strategic location between Europe and Asia - 2 hours to India, 7 hours to Europe, SE Asia and Russia, 8 hours to Japan
  4. Regional home to more than 25% of Fortune 500 companies
  5. Stringent IP law and support

Tax & Business Incentives

  1. 100% ownership
  2. Zero personal income tax
  3. Zero corporate tax
  4. 100% repatriation of capital
  5. No import or export tax

Investment Incentives

  1. Subsidized EDA tools
  2. Subsidized staff accommodation for IT companies
  3. Subsidized rates for IC companies
  4. Subsidized lease rates for high-tech companies

Competitive Advantages

  1. Access to regional pool of talented professionals
  2. Low cost of operation
  3. Access to large regional market (1.8 billion people)
  4. Business friendly one-stop-shop
  5. Incubational environment for technology companies

Business Services

  1. Plug and play office space
  2. Highly secured and state-of-the-art data center
  3. State of art IT infrastructure
  4. On-site IT support
  5. Dedicated Client Management centre
  6. High-end telecom facilities
  7. 24-hour security and facility services
  8. Microelectronics lab

LICENCES

Commercial entities planning to pursue their activities within Dubai Silicon Oasis are required to establish their legal presence through the Dubai Silicon Oasis Authority (DSOA) and obtain a valid License for the activities they propose to conduct through the entity in DSO. There are three possible structures for an entity to establish its legal presence in DSO:

  • Branch
  • Free Zone Establishment (FZE)
  • Free Zone Company (FZCO)


DSOA has dedicated staff in the Licensing Section to handle the registration of the entities and also to issue licenses for the approved activity.


FAQ 6. In which way the Escrow Account law controls the developer to respect the agreements their investors?

Buyer Protections

In terms of buyer’s protections under the Escrow Law, payment instalments on off-plan developments will no longer be paid directly to the developer but must be paid into a trust account specially managed by financial or banking institutions approved by the Dubai Land Department (“Escrow Agent”).

The developer and the Escrow Agent will agree on the terms and conditions relating to the management of the account, and the developer must manage its investors’ funds in accordance with the agreed regulations. The escrow account will be solely dedicated to one project and the account will be opened in the name of the project. If developers are carrying out more than one development, a separate escrow account must be opened for each development. Funds will be released in stages in accordance with the agreement and only when certain levels of construction are completed.

The Escrow Agent will retain five percent (5%) of the total amount paid into the escrow account after the developer has obtained the certificate of completion. Such funds must remain in the escrow account for a period of one year after the date of registering all units in the buyers’ names.