Business Setup in DMCC Dubai Multi Commodities Centre
Dubai Multi Commodities Centre DMCC is a world-class free zone situated in the heart of Dubai, United Arab Emirates. DMCC is famous for its innovative and exciting business environment, offering unique opportunities for everyone to establish and grow their businesses in region. DMCC is a popular destination for companies operating in various industries, including commodities, metals, energy and others. DMCC is in the Jumeirah Lakes Towers neighborhood, which comprises both commercial and residential towers and appears to be a city within a city.
Socprollect is the leading business setup experts in DMCC, Dubai. We specialize in providing expert guidance and easy solutions to help your business to develop rapidly in this fast growing market. Reach out to us today to start your business in DMCC Dubai.
Benefits of Business Setup In DMCC
- 100% foreign ownership
- Complete capital repatriation
- Broad range of permitted business activities
- Zero corporate and personal income tax rate
- Tax exemption for 50 years is guaranteed.
- Offers affordable freehold commercial properties for sale and lease.
- Variety of flexible office solutions such as serviced offices, flexi desks, and shared offices.
- Online customer service portals and effective online solutions
- Immigration services that are beneficial, including visa assistance
- DMCC events, segment specific clubs, and educational workshops provide systematic networking opportunities.
Licenses offered by DMCC free zone authorities
DMCC offers various types of licenses based on the company’s business activities and requirements. DMCC offers the following license types:
1. Trading License: Trading license allows businesses to trade in commodities such as precious metals, diamonds, energy products, and others. It is suitable for businesses that buy, sell, and exchange commodities within the DMCC and internationally.
2. Manufacturing License: This license is designed for businesses that engage in manufacturing activities such as processing, assembling, or manufacturing products from raw materials or components. It is ideal for companies engaged in manufacturing or production.
3. Service License: This license is for businesses that provide services such as consulting, marketing, information technology, logistics, and other professional services. It is appropriate for companies that do not engage in physical trade or manufacturing.
4. General Trading License: This license allows businesses to trade in a variety of products such as commodities, electronics, textiles, and others. It gives flexibility for businesses engaged in multiple trading activities.
To qualify for a Gold Trading License (Non-Manufactured Precious Metal Trading), any employee or shareholder must have past experience in the gold trade. A minimum stake of AED 10,000 is required for a partner visa.
Company Formation in DMCC
DMCC provides an comprehensive list of business activities permitted under each license type. Based on their business plans and requirements, companies can select the most appropriate license type and business activity for their specific operations.
It’s important to note that business activities and licensing requirements may be subject to change, and it’s advisable to consult with a professional business setup consultant like Socprollect for up-to-date and accurate information.
Facilities of DMCC Company
DMCC is One of the largest and fastest growing free zones in the Middle East. It provides you he facilities you need to build your business in Dubai and internationally. The business owners who own firms in this FZ are given a guaranteed 50-year tax exemption, 100% firm ownership, and a selection of freehold assets.
When forming a DMCC company, you have four options for renting facilities:
- Flexi-desk facility as the minimum required office space. SIRA (Security Industry Regulatory Agency) permission is not required if the FLEXI Desk facility is employed. AED 50,000 in company capital must be deposited in a bank within one month of receiving the license, and a capital letter must be presented to DMCC.
- Office or serviced desk
- office executive office in any of the JLT
- Warehouse (in JAFZA free zone)
Dubai Multi Commodities Centre was established to meet the specific needs of its key sectors, which include gems and colored stones, gold and precious metals, energy, and other commodities.
Documents required to setup your business in DMCC
• ONLINE PRE-APPROVAL APPLICATION FORM
• COPY OF YOUR PASSPORT In addition to your UAE residence visa and a copy of your Emirates ID, if applicable.
• PROOF OF RESIDENTIAL ADDRESS IN THE COUNTRY
A utility bill or a bank statement, for example.
• DOCUMENTS FROM THE PARENT COMPANY
When establishing a subsidiary, this is required.
• THIRD-PARTY APPROVALS FOR CERTAIN BUSINESS ACTIVITIES
• OFFICE ADDRESS DETAILS IN THE DMCC FREE ZONE (JLT)
Cost of Business setup in DMCC
DMCC provides numerous benefits, such as 100% foreign ownership, zero personal and corporate tax, cutting-edge infrastructure, access to a worldwide business network, a streamlined company registration process, and a secure and controlled business environment.
The required minimum share capital varies depending on the type of license. The minimum share capital for a Free Zone Company (FZC) or a Free Zone Establishment (FZE) is AED 50,000. However, in most situations, the share capital can be held in the company’s bank account rather than deposited in advance.
Yes, You can open a corporate bank account with DMCC license. Requirements vary depending on the bank.
Yes, business owners, employees, and their dependents are eligible to apply for residency visas through their DMCC company. The number of visas available depends on the office space leased and the license type.
Yes, DMCC requires companies to submit audited financial statements annually. The audit must be conducted by a DMCC-approved auditor.
Yes, DMCC offers a wide range of office spaces, from flexi desks to larger office units, to accommodate the varying needs of businesses. The cost and size of office space will depend on the specific requirements.
Yes, DMCC allows multiple business activities under a single license. However, the activities must be compatible and fall within the approved scope of the license.
it’s always advisable to seek professional guidance and consult with DMCC or a business setup consultant for specific and up-to-date information based on your unique requirements. For More details feel free to Contact Socprollect today
Start Your Business in DMCC with Socprollect
As a leading consulting firm specializing in DMCC, we understand the unique challenges and opportunities that come with establishing and growing a business in this prestigious free zone.We are committed to providing comprehensive solutions tailored to your individual needs, enabling a smooth and successful journey towards business excellence with our extensive knowledge and skills.
At DMCC Consulting Services, we offer a wide range of services designed to support you at every stage of your business setup and beyond. Whether you are a start-up, SME, or multinational corporation, our team of seasoned professionals is committed to delivering exceptional guidance and assistance throughout the entire process.
Our services include:
1. Business Setup and Licensing: We assist you in choosing the most suitable license type, advising on legal structures, preparing documentation, and navigating the registration process. With our expertise, we streamline the setup process, saving you time and effort.
2. Corporate Services: From corporate structuring to company secretarial support, we ensure your business complies with all regulatory requirements. Our team assists with shareholder agreements, corporate governance, and ongoing compliance, allowing you to focus on your core operations.
3. PRO Services: We provide comprehensive Public Relations Officer (PRO) services, including visa processing, immigration support, labor contracts, and other government-related procedures. Our dedicated team handles all administrative tasks, ensuring efficient and hassle-free operations.
4. Financial and Accounting Solutions: Our financial experts offer accounting and bookkeeping services, financial analysis, budgeting, and cash flow management. We help you maintain accurate financial records and provide valuable insights for informed decision-making.
5. Office Space and Flexi Desk Solutions: We assist you in finding the ideal office space or flexi desk that suits your business requirements. Whether you need a physical presence or a virtual office, we help you secure the perfect workspace within DMCC’s world-class facilities.
We are familiar with the specifics of DMCC and its regulatory structure, allowing us to assist you to success while guaranteeing compliance at every step.