Business setup in DMCC Free zone
The Dubai Multi Commodities Center (DMCC) , most commonly known as DMCC, is a Free Zone that offers significant advantages to investors thanks to its world-class infrastructure and trading opportunities.
The DMCC was established in 2002, and ever since it has become one of the top commodity trading center. It’s the largest Free Zone in the United Arab Emirates, and it’s the home for more than eight thousand companies that work in several industries, from small businesses to established corporations.
For this reason, foreign investors consider carrying out the Company Formation in Dubai Multi Commodities Center (DMCC) Free Zone, so they can enter a thriving market.
Forming a company in Dubai Multi Commodities Center (DMCC) Free Zone
The Business Setup in Dubai Multi Commodities Center (DMCC) Free Zone process is very fast and investors can have their business up and running by following a few simple steps. First, you need to submit your initial request and fill the company registration details. After that, you must complete the payment and submit your documentation. Lastly, you must provide all the requirements for the business license and then you can collect it.
With your business license you can apply for residence permits, visas and more. Here we have the documents you need to incorporate a company in DMCC:
- Passport copy for each shareholder, director, manager and secretary
- Business plan
- Personal details about each shareholder
- Copy of UAE visa for each shareholder
- NOC from sponsor (if applicable)
- Proof of home address
- MOA and AOA
- Additional approvals from authority (if required)
- Bank share capital deposit
DMCC Free zone Business Activities
The DMCC activity list covers a wide range of businesses and industries, since companies in this place can engage in conventional trading, professional services and even crypto commodities trading.
Since it’s the world’s largest Free Zone, it welcomes businesses from many industries, so it’s a great place for testing the market and establishing solid operations.
Some of the most popular business activities in DMCC are the following:
- Retail business
- Trading activities
- Transportation and storage
- Financial services
- Social work
In addition, in DMCC businesses can carry out social, community and personal services as long as they have the proper license.
Business Licenses for Dubai Multi Commodities Center (DMCC) Free Zone
DMCC requires businesses to have a valid license so they can carry out their operations legally in this Free Zone. The DMCC Authority issues various types of business licenses, and investors must select the one that suits their preferred business activity. Otherwise, they may incur in issues.
The business licenses issued in DMCC are the following:
- General Trading License: the company that holds this type of license can carry out trading activities that are allowed by the DMCC Authority. It allows businesses to trade a wide range of products.
- Trading License: with the DMCC trade license verification, companies can engage in trading activities but only those that are specified on the license.
- Service License: the service license allows businesses to carry out professional services that are listed on the business license issued. Lawyers, consultants, and service-related professionals can apply for this license.
Benefits of doing business in DMCC
- No corporate and personal tax
- Foreign investors have 100% ownership of the business
- No restrictions with currency
- Access to one of the fastest-growing and leading Free Zone in the UAE
- Strategic location to conduct business globally
- Access to a variety of facilities and trading of commodities
- Safe and regulated business environment
- Innovative and modern properties
- Highly-connected business community with several networking events
- Access to outstanding trading platforms
- It’s a great alternative to Mainland
- Easy access to airports and seaports in its residential and commercial properties
Business entities in DMCC Free zone
To start your Business in Dubai Multi Commodities Center (DMCC) Free Zone you must select your business activity, business license and legal structure for your company. You have to choose the type of business entity that suits best your operations. In this regard, we have the following types of corporate structures available in DMCC:
- Limited Liability Company – investors can incorporate an LLC in DMCC with a single shareholder or more, with a maximum of 50.
- Subsidiary of an LLC – A foreign company can establish an LLC as long as it’s a subsidiary and wholly owned by the parent corporation.
- Branch of a Company – A local-based or foreign-based company can establish a branch in DMCC. It’s not necessary to have a share capital to establish this type of business entity.
DMCC Free zone License costs
According to the DMCC Dubai rules and regulations, investors must pay the required fees and expenses to register a company and obtain a business license.
There are three major fees involving registration and licensing, which are the following:
- DMCC Business License: AED 1035 for pre-approval and AED 20,000 for license fee.
- Registration fees: AED 9,000 for one-time registration fee and AED 2,020 for MOA and AOA.
- Facility rent: AED 1000 for security deposit, and office rent can vary depending on the size of the physical space. For example, the fee for a flexi-desk starts from AED 17,500.
DMCC Innovative Facilities
The Dubai Multi Commodities Center (DMCC) Free Zone Company Setup is great for businesses looking for state-of-the-art facilities from where they can conduct their operations smoothly and efficiently.
In DMCC, investors can find outstanding types of accommodation for their companies, and some of the most outstanding are the following:
- Commercial and residential properties – In DMCC you can find a variety of office types that are designed to suit the company’s needs. These properties can be for leasing or purchased at very competitive prices.
- Towers – DMCC’s own properties offer several advantages to businesses that are engaged in commercial activities. There are many options to choose from, like the Almas Tower, Gold Tower, and more.
- Plots of land – businesses can rent plots of land to build their own company’s facilities and carry out their operations.
- Business center – DMCC offers the Silver Business Center with several types of offices that offer great benefits. In addition, investors can receive outstanding support services and enjoy its highly advanced technology and working environment.