Business Setup in Dubai Multi Commodities Centre (DMCC) - Dubai Multi Commodities Centre (DMCC) Free Zone was established in the year 2002 by a Royal Decree. DMCC is a strategic initiative of the Government of Dubai to enhance trade flows through United Arab Emirates. DMCC offers one of the most diverse trading environment in the region. It regulates, promotes and facilitates trade across a wide variety of commodities like gold, diamonds, pearls, precious metals and tea.
Dubai Multi Commodities Centre (DMCC) Free Zone is ideally located near to Jebel Ali Port, Al Makhtoum Airport and Dubai Logistics Corridor, which enhance connectivity to the rest of the world. DMCC is also developed in close proximity to a number of commercial hubs and at the same time Dubai’s equidistance from Europe, Africa and Asia makes it a prime destination for wide variety of business sectors.
DMCC is well recognized as the largest and the fastest growing Free Zone in the region. It offers most modern infrastructure, investor friendly environment, professional business support service and lifestyle facilities required for international trade. The unique offerings and business environment in DMCC attracted many prestigious recognitions to DMCC, including “The Global Free Zone of the Year 2016” by Financial Times’ FDI Magazine.
Benefits of setting up your business in Dubai Multi Commodities Centre (DMCC)
0% corporate and personal income tax rate guaranteed for 50 years
100% foreign ownership
100% capital repatriation
Licenses for a full range of business activities
Well regulated trade and business environment
Freehold offices for sale and lease at competitive rates
Flexible office solutions including 'plug and play'
Immigration services including visas and other government permits
Regular networking opportunities through DMCC industry events, sector specific clubs and informative workshops
Training on the latest developments in trade regulation and compliance standards
Types of companies eligible for a license in DMCC
Newly incorporated Limited Liability Company (LLC) with single or multiple shareholders.
Limited Liability Company (LLC) formed as a fully owned subsidiary of local or foreign company.
Branch of a local or foreign company.
Types of license issued for starting business in Dubai Multi Commodities Centre (DMCC)
The following three types of license are issued in DMCC:
The type of license is dictated by the business activity selected by the promoters. A company can also apply for multiple licenses or ‘general trading license’.
Note: DMCC also offers additional customized license structures like “Single Family Office” and “E-Commerce License”
What is the minimum share capital required to register a company in DMCC?
The minimum share capital for a Free Zone Company is AED 50,000, and for each shareholder AED 10,000. The share capital should be deposited it bank account within three weeks from the date of incorporation, which can be withdrawn thereafter.
Specifications related to name of company
Name of the company should end with the word “DMCC”. Name of location or religious names or words are not allowed as name of a company.
Audit of Accounts
Appointment of auditor is mandatory and audit report should be filed with DMCC Authorities.
A wide variety of office facilities like flexi desk, service desk, office units are available in DMCC for setting up a business. Investors also have the option to buy or lease freehold property or retail space or office space in DMCC.
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Note: Free Zone entities are licensed to operate only within the free zone territory. Free Zone entities can sell goods or products in UAE mainland (local market) only through an authorized distributor or agent. Free Zone licensee can offer service only within the free zone limit.
Mr. Baiju Masoodu is a Free Zone Business Set-up Consultant. Our ‘corporate service firm’ can advise and assist you to set-up a business in DMCC and other Free Zones in Dubai and UAE. For a free consultation & cost estimate, call me on: +971 50 214 1476 or mail me at: email@example.com