Business Setup in DMCC Free Zone
Dubai Multi Commodities Centre
(DMCC)
DMCC Free Zone or Dubai multi commodities centre popularly known as the ‘Global free zone of the year’ was established in 2002 by the government of Dubai. It’s a dynamic waterfront community with designated areas. For any Business Setup in DMCC or business operations in Jumeirah Lakes Towers, DMCC authority is the licensing authority. So, therefore businesses in DMCC Free Zone benefits from a free zone status making it a mixed use free zone free hold development in Dubai. DMCC offers attractive residential and office towers with leisure hotels and retail outlets. It has a total of 79 towers, out of which 3 towers are developed by DMCC. The towers are known as Almas, AU, and AG towers. Almas tower is situated on the island in the centre of the community, mostly recognized as the focal point of development. The tower houses the popular Dubai Diamond Exchange as well as the DMCC member businesses in diamond, gold, energy, and commodities industries.
DMCC Office and License Requirements
Licensee must hold a valid DMCC office lease or he/she should be the registered owner of freehold office space within DMCC. They should hold a valid license issued by DMCCA in order to operate in the Dubai multi commodities centre. Licensees should renew their license within the given time frame set by the concerned DMCCA department.
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Requirements to Qualify and Maintain a Business License in DMCC Free Zone
- Have a valid lease for office space or be the registered owner of the freehold office space within DMCC. It must have the operational premises within the DMCC center.
- Conform to any applicable federal and/or municipal legislation
- Conform to the Operating Regulations as well as all other applicable DMCCA directives.
- DMCC offers licenses that shall be valid for one year from the date of issuance and may be renewed annually provided that the Licensee either holds a valid lease for office space within the DMCC from which it operates or is the registered owner of freehold office space within the DMCC from which it operates;
Forms of Business Setup in DMCC Free Zone
- As a branch of foreign company or a UAE company
- DMCC Limited Liability Company
DMCC offers 100% foreign ownership to its investors. DMCCA operating regulations preside over the core and non-core companies in DMCC.
Key Features of Business Setup and Licensing in DMCC Free Zone
- A DMCC Company is a limited liability company wherein the shares can be held either by a single or multiple shareholders. The shareholder/s can be either individual/s or corporate entities.
- The minimum share capital required for forming a Dubai multi commodities centre (DMCC) company would be AED 50,000/- (AED 10,000 per shareholder) for Specific Trading or Service License and AED 1,000,000 for General Trading License. The value of each share is AED 1,000 or multiples thereof. The capital contributed for the DMCC Company can be utilized in the operations of the company. In case of branch of a local or foreign company, no initial share capital is required. Special rules and regulations are applicable for DMCC companies.
- The DMCC Company needs to appoint minimum one Director, a Manager, a Secretary and a Negotiator. The Director, Manager, Secretary and Negotiator can be the same the person.
- The manager will be required to be on the residence visa of the company under the sponsorship of the Free Zone Authority. To validate the visa, the Manager, would be required to enter the country at least once in six months. In case the Manager is already having a UAE visa, an NOC from the present sponsor has to be submitted.
- DMCC offers 100% foreign ownership
- 100% tax exemption
- 50 years tax holiday
- Full repatriation of capital & profits
- Extended leases and option to either lease the premises or to have it as Freehold ownership
Basic Features of DMCC Free Zone Company Branch Office
- Branch is usually an extension of the Parent company
- Branch requires no minimum capital
- A foreign company should be at least two years old to be registered as a branch office at DMCC
- Audited financial are not required to be submitted to FZ Authority.
- Profits of the branch would be taxed as per the laws prevalent in the country of residence of the parent company.
Dubai multi commodities centre offers a consolidated hub for global trading which regulates and promotes trade for a wide range of goods. DMCC offers great infrastructure and serves clients all over the world.
Need assistance with DMCC free zone company setup in the UAE?
At A&A Associate LLC, we have years of experience helping clients establish their companies in the Dubai Multi Commodities Centre or DMCC. It provides for a great address, being conveniently located off Sheikh Zayed Road in Dubai, and having its own metro station. Apart from being well-connected to the rest of Dubai, it also provides a host of other advantages as well, and you too could benefit from having an office in the Dubai Multi Commodities Centre free zone.
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