Company formation in Dubai Multi Commodities Centre (DMCC):
Dubai Multi Commodities Centre (DMCC) is attracting you more than any other free zone in Dubai. Dubai Multi Commodities (DMCC) is considered to be one of the largest and fastest growing free zones in the UAE. It has facilities, amenities, infrastructures, regulatory frameworks. etc that are providing the business owners what their businesses need and require.
DMCC Company formation in Dubai, even if it is quite similar to others business setup in Dubai free zones, is done with the zone’s systematic way of processing documents for an easy and effective DMCC company formation for every investor. Dubai has clusters of free zones, among which the Dubai Multi Commodities Centre (DMCC) is the world’s premier free trade zone. It has grown into a commodity centre for not just the Middle East but also the world.
Dubai Multi Commodities Centre Authority or DMCC is a Free Zone Authority offering the largest premise in the UAE to do business in opulence. In the crowd of free zones, Boasting a flamboyant community, ingenious infrastructure, world-class services and an incredible choice of properties, all minutes from outstanding air, sea and road links to the world, DMCC is indeed “made of trade”. DMCC is the place to be if you are looking to make your business meet the world while hitting the ball out of the park.
A DMCC company is a legal entity established under the rules and regulations of the DMCC. A DMCC company is regulated by its own Memorandum and Articles of Association (with the exception of Branches) and is authorised to carry out only those business activities for which it has acquired a valid Commercial Licence from DMCC. Each DMCC company must have at least one shareholder and a minimum mandated share capital, with the exception of a Branch company, which shall have no shareholders and hence, no share capital.
Unlike many other free zones in the UAE, the business setup procedure in DMCC is pretty simple and straightforward! Just 7-10 working days are enough for company registration! The investors or entrepreneurs have to pay only the incorporation fee, which is one of the lowest in Dubai, and wait for the DMCC Authority to issue the company’s certificate of registration.
Company Structures at Dubai Multi Commodities Centre (DMCC)
- Free Zone Limited Liability Company (FZ-LLC)
- Branch of an existing company
- Branch of a Foreign Company
Types of Licenses Available for Dubai Multi Commodities Centre (DMCC) Company Registration:
- General Trading Licence: Allows importing, exporting, distributing, consolidating, and storing of almost all product types allowing new business opportunities for entrepreneurs and businesses.
- Industrial Licence : Allows the implementation of light production activities specified in the license.
- Service Licence: Allows carrying out service or consultancy activities which are specified in the license.
- Commercial Licence: Allows trading of the permitted goods which are mentioned in the license.
Facilities offered at Dubai Multi Commodities Centre (DMCC):
- Virtual and Flexi Desks
- Retail Outlets
- Offices
- Serviced Desk
- Warehouse in JAFZA Free Zone
- Commercial and Residential Towers
Advantages of Company Set up in Dubai Multi Commodities Centre (DMCC):
- 100% business ownership. Sole shareholders are acceptable
- Licences for a complete range of business activities
- No foreign exchange controls or barriers to entry
- Unique Worldwide Centre Industry Clustering
- Prime strategic business location of global significance
- Numerous Networking opportunities
- Efficient Licencing & Registration procedure
- Advantageous freight rates
- Rapidly-growing all-inclusive free zone in the UAE and GCC
- No personal, income or corporate tax
- Full repatriation of capital and profits
- Immigration services, including visas and other government permits
- Ability to obtain a dual licence
Documents Required to Register Company in Dubai Multi Commodities Centre (DMCC) :
- Online pre-approval application form
- Proof of residential address in country of residence (Say, a utility bill or bank statement)
- Business profile
- Business plan (depends on activities)
- Third-party approvals for specific regulated business activities
- Details of an office address in DMCC free zone (JLT)
- Required if setting up a subsidiary
- Copy of your passport, visa and Emirates ID
- Copies of parent company documents if it’s a branch company formation.
- Power of Attorney for Manager, Secretary, Director, Specimen Signature
- NOC from the current sponsor if you already have a residence visa
Steps to be followed on registering the company in Dubai Multi Commodities Centre (DMCC):
- Identify the legal form of company
- Decide on business activity from DMCC activity list
- Get an initial approval from the authority
- Submit documents and pay fees
- Choose the most suitable office solution
- Apply for the UAE Residence Visa
- Open a Corporate Bank Account
Cost of setting up a company in Dubai Multi Commodities Centre (DMCC):
The initial cost of the licence for business set up in Dubai Multi Commodities Centre would start from approximate AED 25,000 however, it may depend on other requirement such as your location, business activities, company size and other operational costs.
To make it easier, once you have your business plan ready in your hand, you can always take help from the expert business setup consultants in Dubai UAE, who will help you with every step of the process, from choosing a business activity and company name to registering with the relevant authorities, easily opening corporate bank accounts and processing visa applications.