The Dubai government established the Dubai Multi Commodities Centre (DMCC) as a free economic zone in 2002. Known as the world’s largest free zone, DMCC is a place where businesses can succeed and new companies can grow rapidly. For those looking for a new business setup in UAE, DMCC company formation can be more beneficial and offer more advantages. DMCC company formation is relatively easy and should be strongly considered by entrepreneurs looking to expand in the Middle East.
Types Of DMCC Company Formation
- Branch Company
A branch company set up in Dubai Multi Commodities Centre is ideal for organizations that already operate in regions outside of Dubai. This is considered a legal entity of the parent company and operates under the same name while benefiting from the environment of Dubai and requiring no share capital.
- Free Zone Establishment (FZE)
Individual shareholders can register a company as a Free Zone Establishment in DMCC. An FZE operates similarly to an LLC. It has a legal distinction from the shareholder and all of the rights of a natural person. It does not require any additional shareholders.
- Free Zone Company (FZCO)
Multiple shareholders can establish Free Zone Company in DMCC. A free zone company is a limited liability partnership, with the liabilities of the company limited to the capital that has been paid.
Two to 50 members or companies can form a Free Zone Company or a partnership.
Types Of Licenses For DMCC Company Formation
Various licenses are available in DMCC company formation, depending on the type of organization. The license issuing steps for business setup in DMCC are as follows:
- Trade License
A trade license is necessary for an aspiring entrepreneur/investor who plans on importing, exporting, or distributing product lines.
- Service License
A service license grants the right to operate a specific service business in the Dubai Multi Commodities Centre.
- Industrial License
An industrial license is required to carry out industrial activities such as manufacturing, assembling, packaging, and exporting finished goods.
List of documents:
- DMCC application form
- Passport copies and colored passport size photographs of all shareholders
- No Objection Letter from the existing sponsor, if the applicant is an ex-pat resident of the UAE
- Proof of permanent residency of each member (shareholders, directors, managers, secretaries, legal representatives)
- Business plan (if applicable, depends on the business activity)
Benefits Of DMCC Company Formation
Business setup in Dubai comes with many benefits, thanks to the introduction of free zones like DMCC.
The major benefits that come with business setup in DMCC are:
- Companies operating under DMCC enjoy 100% foreign ownership and 100% repatriation on capital and profits
- Investors benefit from a simple and streamlined employee sponsorship process
- In DMCC, a company can be set up by even a single
- Dubai Multi Commodities Center’s business setup allows investors to sponsor residency and employee visas
- Located on Sheikh Zayed Road, its strategic location and proximity to ports and major industry corridors are something that every investor and entrepreneur desires
- Those who opt for business setup in Dubai enjoy less tax exemption on
- Corporate and personal income
- All imports and exports.
Partnership With Business Link
To utilize the benefits of a company set up in DMCC, entrepreneurs should team up with a reputable business setup consultant in Dubai to help them acquire the right licenses and operate efficiently.
At Business Link, we have the best business setup consultants in Dubai who know how to make the process of business set up a breeze for both, seasoned and aspiring entrepreneurs.
From helping you apply for the right license to creating a feasibility study and a business plan, our reputable business consultants will help you at each and every step of starting a company in Dubai Multi Commodities Center.
To learn more about starting a company in DMCC and how you can benefit from it, call our expert business consultants.
