Dubai multi commodities centre DMCC
Dubai multi commodities centre DMCC has been awarded with the prestigious ‘Global Free Zone of the Year’ five times by the Financial Times FDI Magazine. Located right in the heart of Dubai, it is the epicenter of Jumeirah Lake Towers district. It is a perfect locale to live, work and prosper. DMCC is designed for building and thriving business.
Dubai Multi Commodities Centre boasts of state of the art and progressive infrastructure, world class amenities and services, innovative technology, community of global citizens and a wide range of high end properties all connected to by excellent roads, air travel and sea links to the entire globe.
DMCC offers limitless opportunities of global thriving business growth connecting your company to the world at the same time.
Established in 2002, Dubai Multi Commodities Centre is a hub for created less than 2 decades ago for the vital need of the Dubai Government to cater to a unique requirement to provision a marketplace and imperative actual and economic infrastructure to run a progressive and booming commodities market. DMCC free zone is the hub for over 12,000 companies with active operations.
Advantages of Company Formation in DMCC
Dubai Multi Commodities Centre offers a large amount of world class facilities and being a part of carries a lot of privileges.
100% foreign business entity.
Total exemption all kinds of taxes- corporate tax and personal income tax, guaranteed for a sum total of 50 years.
- 100% redemption of capital and keeping of business profits.
- No hassle licensing systems for a range of business activities.
- Ready to use and move in office installations.
- Easy rentals or sale options available for offices premises at competitive market rates.
- Immigration services that take care of all relevant visa and work permit requirements.
- Networking opportunities like business events, relevant workshops, and B2B & B2C expos.
- Trade rules & regulations and concurrence standard basics on a regular basis to stay up to date on the relevant in the legal fabric.
- Ingress to trading commodities like gold, diamond, and commodities used for exchange.
- Profitable investment opportunities for individual investors and business entities.
- No foreign currency restriction.
- A well regulated and secure business atmosphere.
Types of business licensing options in Dubai Multi Commodities Centre Free Zone
Dubai Multi Commodities Centre provides a conducive atmosphere which allows many businesses and business related activities and has provision for a great deal for all types of businesses.
DMCC’s licensing authority provides the following licensing opportunities:
- Trading License
- Service License
- Industrial License
Companies can also apply for other types of business licenses which are permitted and according to their business activity allowed in the DMCC free zone.
How to set up business in Dubai Multi Commodities Centre DMCC free zone
- First you have to chose the appropriate company type for you:
- LLC – Limited Liability Company (LLC) newly formed business entity with single and/ or multiple shareholders.
- LLC – Limited Liability Company (LLC) wholly owned subsidiary of a local business company or foreign based business entity.
- Branch of a local or international business corporation.
- You need to select the business category of your company
- General Trading License – Allows your business to deal in import and exports of an array of products are allowed to trade under this license.
- Commercial Trading License – Allows your business entity to be able to import and export a very specific set of products as prescribed by the Dubai Multi Commodities Centre
- Service License – Allows carrying out consultancy and service activities.
- Submit and complete entire application formalities
- Company details are provided of all individual shareholders (rather than the corporate ones) as the documentations are varied depending upon the jurisdiction of where the corporate business entity is based out of.
- Signed application forms from all relevant parties, with all proper documentations.
- Complete Details of shareholders
- Address Proof
- Copy of Passport.
- No Objection Certificates (NOC) for Unites Arab Emirates (UAE) residents.
- Signature Specimens
- Capital Share letter from corresponding bank of the business entity.
- Complete Business Plan
- Leave & License Agreement and all Lease documents in case of a physical office space rented.
- Third Party Regulatory Approvals in selective cases
- Appointing an auditor: Only a Dubai Multi Commodities Centre approved auditor can be hired for your business entity once you have received the business license. This crucial step allows you to employ and hire staff as well as commence business activities.
Dubai Multi Commodities Centre has impressive statistics.
DMCC boasts of more than 14,000 plus business member companies with over 100,000 global participants from an impressive total 170 countries who reside and work within the DMCC at the very well accomplished place and trailblazing Jumeirah Lakes Towers District.
It is the home to state of the art business services, world class infrastructure and a thriving market place for businesses and communities at the same time which make it a lucrative option to any business entity starting in the DMCC region. As well as making it easy to apply for visas, the DMCC Free Zone gives all business owners the privilege to seek for visas for their dependents – albeit, providing salary requirements and documentations are fully complied with. Visa requirements for a spouse, children, maids or drivers and other auxiliary support staff, is a straightforward process comprising of four stages: Entry Permit, Status Adjustment, an approved medical fitness test, then the United Arab Emirates ID registration process which is followed by the visa stamping.
DMCC offers a wide range of business setup and administrative services to its proposed and current clients. At DMCC services ease your daily business operations hence helping businesses to focus on their rise and maximize their potential.
Liaoning with all the are all requisite government departments and private service providers that your business may need to access on a day to day basis to run your business smoothly. The one-stop shop concept brings together the dedicated Government Service Centre and private institutions such as Banks and Telecommunications companies to allow all business owners to enjoy the ease of access and hassle free processes.
A business set up at DMCC is a highway to success, economic growth and puts your business right in the middle of international companies, influential business networking and on an expressway to economic success.