Dubai is the ideal hub for the financial, economic and cultural activities in all of 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 grown into a commodity centre for not just the Middle East but also 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 necessary physical and financial infrastructure to run a thriving commodities market. At present, the DMCC free zone is the house for almost 12,000 companies that are actively operating, including 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 from 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 periodically 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 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:
Allows importing, exporting, distributing, consolidating, and storing almost all products types.
Allows carrying out service or consultancy activities specified in the license
Allows the implementation of light production activities specified in the license
Allows trading any permitted goods
Allows open a branch of existing enterprise and doing business in DMCC free zone
Companies can also go for other business licenses, which are permitted and according to their business activity.
DMCC Company Formation Procedure
The DMCC freezone authority has made it a quick and straightforward 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 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 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 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 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 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 contributed to the development of the commerce and trade industry of Dubai and 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. Commitbiz services include business registration, licensing, public relations officer (PRO) services, VAT registration in the UAE, visa services for the employees, and other business legal formalities. We take the burden of business setup services in Dubai to focus on the bigger picture of your venture. Contact us, and our team will be glad to assist you.