DUBAI MULTI COMMODITIES CENTRE (DMCC) COMPANY SETUP
Located in the heart of Dubai and at the centre of the popular Jumeirah Lakes Towers district, Dubai Multi Commodities Centre is the perfect place to set up your business. Awarded twice as the ‘Global Free Zone of the Year’ by the Financial Times fDi magazine, DMCC continues to be home to many entrepreneurs from far and near. Among others, here are some of the myriad of reasons why startups choose DMCC as the freezone of choice.
- Location: DMCC is located around the business district of Jumeirah. There are excellent transport links via road, air and sea. Sitting just off the popular Sheikh Sayed Road, about half an hour from Al Maktoum International Airport and 20 minutes from one of the world’s busiest container ports-Jebel Ali, the prime location of the DMCC freezone is one reason why many prefer to setup a business on its shores.
- Multiple office packages: Dubai Multi Commodities Centre provides several office solutions. From flexi, virtual, communal and permanent options to physical office space, each investor can choose what is most desirable to carry out his business. An added advantage of this option is that it allows entrepreneurs to apply for up to three visas with the benefit of sponsoring employees and family members. Where more than three visas are required, a physical office space will be needed.
- Easy setup, registration & bank account opening: Setting up a business in DMCC is simple; an entrepreneur opening a bank account will get all help required immediately.
- Wide variety of business activities: There are little of no barriers to the type of businesses that can be set up. Because of this, DMCC is home to more than 13,000 businesses from various industries such as agriculture, energy, financial services to diamonds, gold and base metals.
- Auditing and bookkeeping requirements: There is no requirement for DMCC Free Zone businesses to file accounts, but an audit report must be completed annually at the time of licence renewal.
- Share capital process and requirements: The share capital of AED 50,000 must be deposited before license is issued but can also be withdrawn immediately upon issuance.
- Easy corporate bank account setup: The DMCC Free Zone makes it easy to set up your business bank account. Not only will you be offered assistance with finding the bank that’s right for you and completing any required paperwork, but as all major financial institutions acknowledge the comprehensive compliance practices of DMCC, the setup process is fast and straightforward.
- Branch or representative office Set-up: DMCC allows for easy opening of branches of existing businesses in a hassle-free manner.
Permitted Business Activities in DMCC:
Businesses wishing to set up within DMCC free zone must either be involved within the commodities marketplace or related industry services. Licenses granted are for trading, services or manufacturing (industrial) within the commodities sector.
On the other hand, JLT, regulated by DMCC, allows for business activities outside commodities trade with most licenses granted to services and professional businesses. At JLT, most business activities licensed by the Dubai Department of the Economic Development (DED) are permitted, although, subject to the activities being in line with the license type granted.
A general trading license is available to businesses at the DMCC free zone and JLT gives the holder the right to an unlimited number of trading activities.
DMCC’s Fee Structure
|Trade License (General) ||FEE||Trade License (General) ||FEE |
|Application ||1,015 AED||Application ||1,015 AED|
|Trade License||20,285||Trade License||50,285|
| Registration ||9,020|| Registration ||29,020|
|Service Charge|| 3,000 AED||Service Charge|| 3,000 AED|
Legal Maxims Consultants has a team of experts committed to providing out of the box consultancy, support and management services to investors interested in a new company formation in DMCC or any of the Free Zones in the UAE.
Our service charge is arguably the cheapest in the whole of UAE. Contact Us for a free consultation and a free quote today.