Dubai Multi Commodities Centre, developed for trade and commerce, was established and launched in the year of 2002. Hailed as the ‘Gateway of Trade’, DMCC has cemented itself as one of the most developed free zones in Dubai. It is located at a strategically remarkable location, opposite to Dubai Marina beach and close to Emirates Mall. DMCC is in a highly developed lakefront development named Jumeirah Lake Towers (JLT).
The state-of-the-art infrastructure and vibrant community of DMCC makes room for many national and international companies. Currently, DMCC is the global hub for more than 15,000 businesses from a wide range of industries and segments including a product range of agro-based, energy, financial services, retail sectors to gold, diamond and base metals. Adding on, Jumeirah Lake Towers provides retail, residential and commercial properties for both sale and rent. Apart from this, DMCC provides investor-friendly offers, visas as well as other business-related services which makes this free zone an ideal place to form your company in Dubai.
Why Set Up Your Business in DMCC?
Dubai Multi Commodities Centre, the world’s flagship free zone with international standards of infrastructure and quality-driven services, is a global hub for many national and international brands. Setting up a business in this free zone not only gives you a brand title but also provides many more benefits. DMCC offers the following benefits to businesses:
- Provision of 100% foreign ownership
- 100% capital repatriation
- No personal or corporate income tax, guaranteed for at least 50 years
- Availability of licences for a wide range of business activities
- Provision of immigration services encompassing visa and other government permits
- Free flow of currency
- Appropriate Infrastructure and well-built industry space
- Availability Industrial, Residential, Commercial and Retail space
- Low-cost residential & commercial space for sale and rent
- Simplified incorporation process
- One stop shop for all government services
- Brand building activities like exhibition and events
- Highly secured business environment
Business Activities Allowed in DMCC
DMCC allows any type of business activity under the following sectors:
- Food & Agriculture
- Personal & Community Services
- Media & Marketing
- Precious Metals & Stones
- Technology & Telecom
- Automotive Transportation
- Professional Services
- Support Services
- Personal & Household Goods
- General Trading
- Construction, Engineering, and Machinery
- Metals & Minerals
- Shipping & Logistics
- Real Estate & Facility Services
Business Licences in DMCC
- Manufacturing Licence
- Service License
- Trading License
Types of Legal Entities in DMCC
1. Free Zone Establishment (FZE)
This kind of entity allows only one shareholder and requires a capital of AED 50,000 to be set up.
2. Free Zone Company (FZC)
The number of shareholders in a Free Zone Company can range from 2 to 5, requiring a minimum capital of AED 50,000 per shareholder to be set up.
3. Branch of a Local or Foreign Company
A Branch requires no capital to be set up, and is a legal representation of its parent company.
How to Set Up a Business in DMCC?
Like other free zones in Dubai, Dubai Multi Commodities Centre Authority also sets out certain procedures to set up a business in DMCC. The steps to be followed for this are:
- Deciding the type of company you want to start in DMCC
- Once you have decided on the type of business activity, you must opt for a business license according to your business activity for which you must submit certain documents. The documents required are:
- Application form duly signed by any authority
- Proof of address
- Personal data sheet of shareholder(s)
- Power of attorney duly authorized to start a company
- Business plan
- Passport copy and specimen signature of manager, shareholder, and director
- Certificate of incorporation (in case of corporate as a shareholder)
- No Objection Certificate (NOC) for the manager from a local sponsor
- Details of existing company (for setting up of branch)
- Proof of registered business address [having a physical address is mandatory for onshore business in the UAE. The minimum space required is 550 sq. ft.]
- Once the authority checks your documents, it will provide you the requested business license by paying a certain amount of fees
- Finally, you’d have to choose a suitable office space for your business in DMCC
Dubai Multi Commodities Centre offers a variety of business opportunities with its supportive and customer-centric procedures. Recently, DMCC Authority and Dubai Government have signed an MoU with Royal Fund Investments (RFI) to seek more business opportunities from China; this relationship would give plentiful opportunities to the businesses in DMCC and for upcoming investors in this free zone of Dubai. So, don't delay, you never know what awaits you. Choose a right business partner which helps you identify the incorporation process, legal procedures, networking, taxation, the hiring process of DMCC.
Business Setup Worldwide is a business advisory firm that provides expert guidance on starting a new venture in any part of the world. We help our clients identify new business opportunities, understand legal procedures, network with local authorities, and identify the right type of free zone to suit the business model. As different options are available for company formation, it is crucial to have the right kind of business knowledge in the business environment of Dubai. We at Business Setup Worldwide save your time as we take care of the lengthy procedures and guide you step by step throughout the process. Contact us with your business setup queries, and we’ll be happy to assist you in your business setup journey.