Dubai Multi Commodities Centre is a leading free zone providing services and assistance to commodity companies, investors, and trade services providers. It also plays a vital role in the development and growth of Dubai. As a business conduit for all kinds of commodity trading, DMCC is globally recognized as an influential force in today's markets.
If you're considering beginning your own business in Dubai, you must register a company. Doing this from the start can be stressful, mainly because you have so many things on your mind.
Why Should One Opt for Company Formation DMCC?
There are several business facilities one would get by doing business in DMCC. A few are listed for your understanding.
If you're looking for office space, check out DMCC's facilities. There are four options for facilities to rent depending on your needs.
- Flexi-desk facility
- Serviced desk or office
- Executive office
- Warehouse in JAFZA free zone
What is the Benefit of Company Formation in DMCC Dubai?
DMCC is a world-class trading center that provides various opportunities to its investors and business people. Therefore, one should know the following benefits before incorporating a business in DMCC.
- Full foreign ownership of companies
- No restriction on capital repatriation
- Exempted from import/export duties
- Well-organized online system for using government services
- Fastest growing Free Zone in the UAE
- Flexible Office Solutions
- World-class infrastructure
What are the Procedures for DMCC Free Zone Company Formation?
Below are the steps you should consider if you want to start a business in DMCC free zone.
Choose the Business Activity
To start a business in DMCC, you must conduct thorough market research on the current flourishing business activity. Then, after completing the business activity research, you can choose the preferable ones.
Find a Trading Name
After finalizing the business activity, the next thing you should focus on is finding a trading name. While finding a trading name, you should be aware of a few norms. To know the criteria, you can seek assistance from professional experts.
Select the Legal Structure
After finalizing the name, the next turn is to select the legal structure. Then, depending on the legal system, you can do your business hassle-free.
The following is the legal structure followed in DMCC free zone
- Free zone establishment
- Free zone company
- Branch company
Obtain a License
Once you are ready with your legal structure, the next thing you can proceed with is obtaining a business license. The entrepreneurs will provide the business license depending on their chosen activity.
The following are the business licenses in DMCC free zone
- General trading license
- Service license
- Commercial/Trade license
Open a Corporate Bank Account
While you are done with the abovementioned business steps, the final step is opening a corporate bank account. Also, knowing how to open a corporate bank account in Dubai-UAE will guide you in following the necessary formalities and documents.
As we came to the concluding part, if you wish to start a business in DMCC free zone, you can get assistance from professional experts.
Moreover, knowing about the company formation in Dubai will help you better clarify the business setup in Dubai.
Business Setup Worldwide is a fast-growing consulting firm that will help incorporate a company in Dubai. Moreover, the consultants in business setup worldwide would help in solving any business-related queries. Therefore, you can contact us without hesitation if you need assistance with the business setup.
What does DMCC company formation cost?
The cost of DMCC company formation is around AED 34,340.
What are the benefits of opening a bank account in Dubai?
The advantages of opening a corporate bank account in Dubai are,
Non-restrictive banking options
Dedicated regional manager
Easy international access
Easy transfer of funds
Mobile and online banking
What documents are necessary to open a corporate bank account in Dubai?
The documents required to open a bank account in Dubai are,
Copy of the Emirates ID and shareholder representative
Detailed business plan
Info about the type of activities on the account
List of the names of at least five suppliers and five customers
Disclosure of the source of funds
Complete set of certified company incorporation documents
Certificate of good standing
What are the business-related activities allowed in DMCC?
The business activities allowed in DMCC are,
Food & Agriculture
Technology & Telecom
Construction, Engineering, and Machinery
Metals & Minerals
Shipping & Logistics
Real Estate & Facility Services
What documents are required for obtaining a business license in DMCC?
The types of documents required for obtaining a business license in DMCC are,
Application form duly signed by any authority
Certificate of incorporation
Personal data sheet of shareholder
Details of an existing company
Passport copy and specimen signature of manager, director, and shareholder