Dubai has successfully positioned itself as a global podium for business in the minds of investors and business owners. The Government of Emirates has been implementing various initiatives to encourage more investors to come forward and invest, which would help both the investors and the country. There are various tax-free zones in the UAE which provide an attractive avenue for a business investor to set up a business in the country.
The Dubai Multi Commodity Centre (DMCC) stands as one of the fastest-growing free zones that hold boundless opportunities for business professionals to come forward and incorporate a business in Dubai. This free zone is regulated by the DMCC Authority or the Dubai Multi Commodity Centre Authority This guide will highlight the possible business opportunities that the region contains. If you plan to start a business in DMCC, this guide is for you.
Before deep diving into the opportunities that DMCC holds, let’s get a gist of the free zone and proceed ahead.
A Glance at Dubai Multi Commodity Centre
Founded in 2002 and situated in the Jumeirah Lake Towers District, the DMCC is home to more than 15,000 registered businesses on its premises. The region has segregated itself into multiple business sectors to clutch in more business options.
The core focus of DMCC revolves around the fact of developing Dubai. The DMCC stands as one of the world’s fastest-growing free zones and thus stands out as business professionals' first choice.
Business Opportunities in DMCC
The DMCC serves to be a platform for multiple business sectors. The region provides enormous business opportunities when it deals with:
Trading in gold can be a very profitable option in Dubai. The Gold industry is one of the UAE's most influential sectors and attracts millions of investors every year. Gold Souq (market) stands as one of the most known gold destinations in Dubai, and people from all over the world come over to buy gold.
The involvement of DMCC in the gold business has lifted the sector to its next level. The DMCC provides opportunities to business investors seeking to invest in the gold business. The DMCC serves the commodity trading operations of gold through Dubai Good Delivery Standard (DGD) for Gold, making DMCC one of the best places to conduct a gold-related business.
- Precious Stones
The DMCC provides equal opportunities for the professionals dealing in Precious Stones such as Diamonds and Pearls. Regarding trading, the DMCC carry out the diamond trading activities through the Dubai Diamond Exchange (DDE) and the trading of Pearls through Dubai Pearl Exchange (DPE). To fetch more opportunities in the sector, Dubai is on the way to conducting the Dubai Diamond Conference scheduled in the year 2024 to blend innovation and technology into the diamond sector.
If you are looking forward to investing in the Precious Stones business, then DMCC is a good option.
The trading activities are not only confined to precious metals but also cover tea in the list. The UAE stands as one of the largest exporters of tea globally. The region provides an end-to-end solution to the business owners to carry out business operations that involve a blend of warehousing, blending and packaging.
If you stand as a business professional dealing in the tea industry, then you can count Dubai as the next choice for business expansion.
The Middle East region has always been in love with coffee, and this has been targeted as a business segment by DMCC. The core aim is to establish Dubai as one of the global leading coffee supply chain destinations. The DMCC invites foreign owners to take the initiative to come forward and invest in the coffee business. To provide core business solutions, the region offers numerous facilities, including storage, processing, packaging and delivery.
The coffee segment has been attracting millions of foreign investors in its count, which holds enormous growth. If you want to invest in the coffee business in Dubai, you can count on DMCC.
The DMCC aims to capitalize on blockchain technology in order to transform half of the government transactions into blockchain platforms. In today’s world, the crypto market is on the mind of everyone. DMCC provides a platform to know, understand and transact in this domain.
If you want to start a business in the Crypto domain, then DMMC can be a likely option.
As the growth of the hotel and restaurants shoots up, the demand for agricultural products will shoot upwards. We must understand that the agriculture industry is the base of the delicious meals we order every time. The demand for food products has been continuously increasing and thus paves out more opportunities for the import and export business on a global front. The DMCC has got a significant ground for the agricultural industry, providing the best possible flexibilities to the investors.
- Base Metals
Another flourishing and fast-growing market that the DMCC focuses on is base metals. The real estate and construction industry has been continuously growing and building a pathway for construction materials and base metals. On the global front, the base metal industry holds a value of US$170 billion a year. Thus, you can understand the intensity of emerging business opportunities. The DMCC select the base metal sector as their primary focus and helps business owners come forward and invest.
DMCC has announced the plans to launch a state-of-the-art DMCC Cacao Centre, which aims to leverage its expertise in tea and coffee to attract new trades. These trades will be incubated within DMCC Cacao Centre.
Cacao is a superfood and every part of the fruit is useful. The global demand for cacao fruit is increasing as its rich in magnesium, iron and antioxidants.
Starting a company in the UAE turns out to be a smart and desirable option. If you are dealing with any of the business areas mentioned above, then DMCC serves to be a favourable option. If you want to start a company in DMCC, do contact us today-we’d be glad to assist.
Where is DMCC Situated?
DMCC is situated in Jumeirah Towers in Dubai.
Which is the regulatory authority for DMCC?
The regulatory authority for DMCC is known as Dubai Multi Commodities Centre Authority or DMCCA
How many companies are currently working under DMCC?
Currently there are 20,000 companies under DMCC ranging from start-ups to multinational corporations.
How can you open a branch office in DMCC?
The steps to open up a branch office in DMCC are as follows:
- Express your interest
- Submit your application on the online portal
- Pay, Sign and Submit the required documents
- Choose an office solution suitable to you
Does DMCC support digital economy and stand with the current times?
In order to stay current and relevant, DMCC has partnered with AstroLabs Dubai to create a special license for like-minded entrepreneurs.