Dubai is the ideal hub for the financial, economic and cultural activities in all of 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 grown into the commodity center for not just the Middle East but for the entire world. DMCC is unlike any other Dubai Free Zone but with a lot of potential and opportunity for the retail and commerce sector. 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 3 consecutive years and it has been home to a vibrant community, innovative infrastructure, world-class services and a stunning 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 necessary physical and financial infrastructure to run a thriving commodities market. At present, DMCC free zone is the house for almost 12,000 companies which are actively operating including both commodities and other businesses.
Advantages of Company Formation in DMCC
DMCC's facilities and free zone benefits foster all the needs and requirements of all types of business activities in the world. DMCC has been rated ‘A’ by Standard and Poors. Setting up a company in DMCC will not only bring a great brand name for your company but also you will be benefited with the following advantages:
- 100% foreign business ownership
- Total exemption from corporate tax and personal income tax, guaranteed for 50 years
- 100% capital repatriation and retention of business profits
- Easy licensing procedures for a range of business activities
- Plug-and-play office installations
- Easy lease or sale optional available for offices at competitive rates
- Immigration services to take care of all visa and work permit requirements
- Networking opportunities like events, workshops, and exhibitions
- Trade regulations and compliance standards training on a periodic basis to stay up to date on the latest in the legal framework
- Access to trading commodities like gold, diamond, and commodities of exchange
- Lucrative investment opportunities for both investors and businesses
- No currency restriction
- A regulated and secure business environment
Types of Business Licensing Options in DMCC Free Zone
Dubai Multi Commodities Centre provides an environment which accommodates many business activities and provides a great deal for all types of businesses. DMCC’s licensing authority provides the following licensing options:
- Trading License
- Service License
- Industrial License
Companies can also go for other business licenses which are permitted and according to their business activity.
Procedure for Company Registration in DMCC, Dubai
The DMCC authority has made it a simple and quick process for company registration in DMCC. All the 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 3 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 important step is submitting your application for the process and attesting the requested documents, which are:
- Duly filled an application form
- A valid copy of your passport and visa
- Valid proof of residential address [this can be any of the utility bills like water, electricity, etc.]
- A business plan
- In case of a branch, copies of parent company documents are also required
- Finally, a No-Objection Certificate (NOC) from the sponsor who holds a valid UAE visa
Step 3: Pay, Sign and Collect
After reviewing all the documents and application provided by you, the authorities will issue a lease agreement and license in accordance with your license request and make the necessary payment.
Step 4: Choose a Business Office
Submit the lease agreement to the new business office and get started with your business activities. The DMCC will issue your e-License, so you will be ready to do business in DMCC.
DMCC free zone has been contributing to the development of the commerce and trade industry of Dubai and making it the best industry to penetrate and start a business. Starting your business in DMCC will ensure growth and prosperity for your business, and a business advisor can help you get started. Commitbiz services include business registration, licensing, public relations officer (PRO) services, VAT registration in the UAE, visa services for the employees, and all other business legal formalities. We take the burden of business setup services in Dubai so you can focus on the bigger picture of your venture. Contact us, and our team will be glad to assist you.