Dubai is the capital of UAE and is also considered the trading capital of the Middle East as it is a hub for the financial, economic, and cultural activities in the Middle East. Dubai has clusters of free zones, among which the Dubai Multi Commodities Centre (DMCC) is the world's premier free trade zone. It has become a commodity center for the Middle East and the world.
DMCC is unlike any other Dubai Free Zone but has a lot of potential and opportunity for the retail and commerce sectors. The DMCC free zone is the gateway to global trade and the exclusive spot for retail exposure to growing your business. DMCC has been crowned 'Global Free Zone of the Year by the Financial Times FDI magazine for three consecutive years, and it has been home to a vibrant community, innovative infrastructure, world-class services, and an attractive choice of properties, all minutes from excellent air, sea and road links to the world.
DMCC was established in 2002, with a strategic initiative of the Dubai Government to provide a marketplace and the necessary physical and financial infrastructure to run a thriving commodities market. Currently, the DMCC free zone is the house for almost 12,000 companies that are actively operating, including commodities and other businesses.
Types of Business Licensing Options in Dubai Multi Commodities Centre Free Zone
Dubai Multi Commodities Centre provides an environment that accommodates many business activities and provides a great deal for all businesses. DMCC's licensing authority offers the following licensing options:
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Trading License
Allows importing, exporting, distributing, consolidating, and storing almost all product types allowing new business opportunities for entrepreneurs and businesses.
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Service License
Allows carrying out service or consultancy activities which is specified in the license.
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Industrial License
Allows the implementation of light production activities specified in the license.
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Commercial License
Allows trading of the permitted goods which are mentioned in the license.
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Branch Company
Allows opening a branch of existing enterprise and doing business in DMCC free zone
Companies can also go for other business licenses, which are permitted according to their business activity.
Corporate Structures in DMCC Free Zone
- Free Zone Establishment (FZE) – It requires a minimum capital of AED 50,000 with one shareholder
- Free Zone Company (FZC) – This type of business incorporation has a minimum capital of AED 50,000 with two to five shareholders.
- Local or Foreign Branch/Subsidiary – This type of entity does not have any capital requirement
Why Start a Business in the DMCC Free Zone?
The company registration procedure in this free zone takes seven (7) working days and can be completed online. The strategic location adds to the set of advantages offered by DMCC. This free zone is located right at the heart of the Emirate near the Jumeirah Lake Towers district. It provides various facilities, such as office spaces and warehouses, depending on the need of the company.
It has been crowned 4 times as a ‘Global Free Zone of the Year by the Financial Times Magazine, and it is home to a vibrant community, innovative infrastructure, world-class services, and a stunning choice of properties, all minutes from the excellent sea, air, and road links of the world.
DMCC Company Formation Procedure
The DMCC freezone authority has made it a quick and straightforward process for company registration in DMCC. All new investors or entrepreneurs need to follow the following steps:
Step 1: Decide your Company Type and Activity
The first step is deciding on your business activity and type of legal business form of the company, which you can choose from the following three options:
- Free Zone Establishment (FZE)
- Free Zone Limited Liability Company (FZ-LLC)
- Branch of a Company (UAE or Foreign)
Step 2: Submit Application and Documents
The next and vital step is submitting your application for the process and attesting to the requested documents, which are:
- Duly filled in the application form
- A valid copy of your passport and visa
- Valid proof of residential address [this can be any utility bills like water, electricity, etc.]
- A business plan
- In the case of a branch, copies of parent company documents are also required.
- Finally, a No-Objection Certificate (NOC) from the sponsor with a valid UAE visa.
Step 3: Pay, Sign and Collect
After reviewing all the documents and applications provided by you, the authorities will issue a lease agreement and license following your license request and make the necessary payment.
Step 4: Choose a Business Office
Submit the lease agreement to the new business office and start your business activities. The DMCC will issue your e-License, so you will be ready to do business in DMCC.
DMCC free zone has contributed to the development of Dubai's commerce and trade industry, making it the best industry to penetrate and start a business. DMCC company setup will ensure growth and prosperity for your business, and a business advisor can help you get started.
Contact us today to learn more about setting up a business in Dubai Multi Commodity Centre.
When was DMCC founded?
DMCC was founded in the year 2002.
What are the different commodities to which can be traded in DMCC?
The different commodities which can be traded in DMCC are:
- Gold
- Precious Stones
- Tea
- Coffee
- Agricultural Goods
- Base Metals
- Crypto
- Cacao
What are the different types of corporate structures available in DMCC?
There are three types of businesses available in DMCC which are:
- Free Zone Establishment (FZE)
- Free Zone Limited Liability Company (FZ-LLC)
- Branch of a Company (UAE or Foreign)
Are we provided a 100% capital repatriation for a DMCC business setup?
Yes, you can avail the facility of 100% capital repatriation.
Which events are hosted by the member zone of the Dubai Multi Commodities Centre?
The member zone hosts events such as workshops, seminars, periodic networking events, and exhibitions for the creation of a closely-knit member community.