Free Zone
Dubai Multi Commodities Center (DMCC) is one of Dubai's most well-known and highly reputable free zones. DMCC is one of the biggest trading hubs for many businesses in the UAE. It is located in a lake-front development called Jumeirah Lakes Towers, opposite Dubai Marina and ten minutes from Jebel Ali Sea and Air Ports and the Logistic Corridor.
Due to its closeness to important business centres, it helps businesses to maximise their benefits. In addition to that, it is the region's specialised global trade centre and booming marketplace for commodities, financial services, and a rising number of niche sectors.
Characteristics of DMCC Free Zone
| Characteristic Type | Characteristic Trait |
|---|---|
| Company Type | Free Zone Company (FZCO) |
| Governing Body | Dubai Multi Commodities Centre |
| Minimum Number of Shareholders | 1 |
| Minimum Number of Managers | 1 |
| Accounting and Book Keeping Requirements | No |
| Renewal Date | Annual Date of Incorporation |
| Corporate Taxation | 0% |
| Visa Type | Employment Visa Only |
| Ownership | 100 Percent Foreign Ownership |
| Type of Activities | Trading /Service/Industrial/ |
| VAT Percentage | 0% |
| Duty for Import and Export | 0% |
| Duration For Company Formation | 4-7 Days |
| Paid Up Capital | No Paid Up Capital |
| Local Partner Required | No |
Documents Required
- Color Passport Copy
- Visa status copy / Entry stamp copy
- Passport Size Photo
- Other documents depending on the business activity
Banking Partners
Statistics
DMCC has become the world's fastest expanding business cluster. It is a perfect location for business setup in DMCC (Dubai Multi Commodities Centre). The government has taken several steps to assist entrepreneurs in starting their businesses in the DMCC free zone. Starting a business in such a magnificent free zone can assist you in realising your dreams and goals.
While considering the recent updates, it has been observed that there has been an increase in the number of crypto and blockchain firms entering its Free Zone since the inauguration of the DMCC Crypto Centre in May 2021. However, only 16 percent of all business registrations in the first quarter of 2022 were for crypto-related activity.
The Dubai Multi Commodities Centre (DMCC) has crossed the 20,000-member company milestone, showing the organization's strong value offer to firms wanting to grow globally by establishing a service. In addition, Dubai free zone company formation would enable one to start a business in this region.
| Founded | 2002 |
| GDP contribution | DMCC contributes 10% to Dubai’s GDP |
| Government Authority | DMCC Free Zone Authority |
| Business activities in DMCC | Shipping and logistics, Automotive transportation, Professional services, Hospitality, Construction, Engineering, and Machinery |
| Number of companies in DMCC | More than 20,000 companies |
| Legal entities | Free Zone Establishment, Free Zone Company, Branch of a Local or Foreign Company |
| Business license | Trading license, Service license, and Industrial license |
| Leading business activity and its percentage | 16% of all company registrations were for crypto-related activities |
| Types of visas | Employment visa, Dependents Resident Visa, and Business Visit Visa |
| Activities performed under one license | Up to six similar activities |
| Minimum number of company directors | 1-6 |
| Office Requirements in DMCC | Flexi desk, Serviced Office, Physical Office for lease, Physical Office for rent, Retail Space for lease, and Retail space for rent |
| Achievement of trade-in first quarter of 2022 | DMCC welcomed 665 enterprises to its Dubai Free Zone |
In addition, while considering the DMCC business brand, it was more substantial than before. The DMCC brand connected with important audiences because of its great business performance, strong local and international marketing efforts, and meaningful industry participation by the DMCC senior leadership team.
Key achievements of DMCC
DMCC's JLT zone, located in the heart of Dubai, is a distinctive destination and a thriving commercial hub. Among DMCC's many accomplishments, a couple is given below better to understand the company's business productivity and infrastructure.
- Uptown Tower
- Uptown District
- Smart, Sustainability, and Technology Implementation
- JLT Gas Network
- Community Enhancement
- Cash Generation, Land Variation and Recurring Income Growth
Registration Process
Complete the Application Form
Submit Your Documents to the Authority
Obtain Your License
Obtain Your Residency Visa
Open Your Bank Account
Terms and Conditions
*Duration is subject to the constraints of the due diligence procedure.
**This would refer to the corporate tax of the company, wherein the operation of the company would take place outside the country of incorporation.
***The required documents must be provided for every individual related to the company.
Disclaimer: The content on this website should not be taken as a contractual commitment or a warranty. Our services conditions are subject to BSW terms and conditions.
Why Choose BSW
Business Setup Worldwide provides top-notch business solutions to companies. Our professionals know that new firms should follow local norms and rules. Our experts will provide guidance and extensive assistance at a reasonable cost. Don't hesitate to contact us right away if you have any questions concerning the business setup or decisions in the DMCC freezone.
FAQs
What are the steps to be followed for the company formation in DMCC?
The steps to be followed for the company formation in DMCC are,
- Choosing a business activity
- Finding a legal entity
- Selecting a strategic location
- Choosing a relevant trade name
- Obtaining a license
- Opening a bank account
How much does the DMCC trade license cost?
The cost of a trade license in DMCC is around 30 000 AED.
How many days does it take for the DMCC to be set up?
It takes around 8-10 working days to incorporate a company in DMCC.
What type of company is DMCC?
A DMCC corporation is a legal entity formed under the DMCC's laws and regulations.
Who honoured DMCC Free Zone as "Global Free Zone of the Year"?
The Financial Times FDI magazine has honoured the DMCC Free Zone as "Global Free Zone of the Year".
