Everything you need to know about DMCC free zone company setup
Dubai has definitely made a name for itself as a destination for dreamers. It offers endless opportunities and discoveries around the city. For several decades, individuals from all over the world have migrated to Dubai with hopes and dreams to make it big, and why wouldn’t they? Dubai happens to be the ultimate destination for entrepreneurs with numerous perks to make one’s business life an easy life.
Free zones in particular are the ideal choices for starting a business. DMCC free zone company set up is one of the most popular options. Dubai Multi Commodities Centre (DMCC) enables you to have 100% ownership of your company. It also enables you to remit all profits to your home country as an expatriate. This isn’t all. There is more when it comes to starting a business in the UAE free zone. If you are willing to channel your inner entrepreneur to become a successful business person in the land of opportunities, DMCC companies set up is the ultimate choice.
Reasons why DMCC free zone company setup is the right move:
DMCC is known to be the world’s number 1 free zone. Voted Global Free Zone of the year for four years in a row by the Financial Times fDi Magazine.
The free zone is located at the heart of Jumeirah Lake Towers, one of the most esteemed locations in Dubai. Formed in 2002, DMCC has achieved maximum number of company registrations and listed more than 11,000 companies in no time.
The business sector in Dubai is world-renowned for various reasons including a brilliant tax regime, numerous incentives and incubator schemes. Dubai is the ultimate tourist destination. Hence, starting a business here all the more impactful in industries such as tourism all the way to trading.
DMCC free zone has been a major contributor to the development of trade and commerce in Dubai. It makes an ideal industry to penetrate and start a business in UAE. DMCC free zone company setup would allow for advancement and success for your business.
DMCC free zone provides several benefits to businesses such as:
· Full ownership of business: Free zones permit foreign investors to get 100% ownership of their business.
· Full profit repatriation: Free zone companies can repatriate all their profits to their home country. Giving them the freedom to transfer 100% of their capital to their place of origin without any requirements.
· 0% corporate tax
· 0% import or export tax
. Dual licensing
· Range of business activities: Free zones support a range of business activities, making it easy for individuals to connect and network.
· Fast and easy setup process for getting a business license.
· Multiple license requirements: DMCC free zone offers three types of licenses which are – service license, industrial license, and trading license. These are great for any type of business size and requirement.
· Register from the comfort of your home, as all the required documents can be sent to DMCC free zone without requiring a physical presence for submission.
Activities in DMCC free zone
DMCC also is the only free zone in the UAE that permits issuance, listing and trading of cryptocurrency. As of this year, DMCC authorities signed the initial agreement with the Security and Commodities Authority (SCA). The agreement permits licensing for businesses that want to deal with cryptocurrency.
DMCC’s crypto centre offers bespoke licenses and a wide range of incentives to prospective businesses. DMCC Free Zone license cost is cost-effective. Considering the growth and popularity of cryptocurrency, it would easily make any company dealing with this activity highly successful.
There are two types of licenses DMCC authorities offer for cryptocurrency including:
- Distributed Ledger Technology Services: This activity includes providing database management solutions and ancillary services based on distributed ledger technologies, such as Blockchain. Companies with this activity are not permitted to trade in, or set up an exchange for currencies or cryptocurrencies or provide any financial activity services, brokerage or payment processing.
- Propriety Trading in Crypto-communities: This activity includes the buying and selling of crypto-commodities developed on distributed ledger technology applications. This activity does not include acting as an exchange, providing brokerage services, financial services, banking services, payment processing or storage services.
DMCC is also known for being the free zone that is prominent for businesses that deal with rough gold, diamonds and precious stones. Dubai is also widely known as the ‘City of Gold’. According to reports, 25% of gold trade occurs in Dubai, making any business that acquires DMCC license for trading gold to thrive.
Dual License in DMCC Free Zone:
DMCC free zone is one of the free zones in the UAE that allows entrepreneurs to obtain dual licensing. Dual licencing enables businesses to extend their business to mainland. In order to be eligible for dual license, entrepreneurs will be required to obtain DMCC license and mainland license.
Benefits of dual license
- Allows 100% foreign-owned companies to extend operations into mainland without the need of a shareholder
- Affordable pricing for set up
The mainland division of a dual licence is structured as a branch of the Freezone company rather than a subsidiary. It means that the owner would require a 51% local shareholder.
Embark on your business journey with Shuraa:
DMCC free zone comes with a number of office space options ranging from smart desks, shared office spaces, all the way to warehouse facilities. With Shuraa Business Setup, we can help you start a business in the UAE and gain the DMCC free zone license at low-costs.
Business registration in DMCC Free Zone is undeniably one of the best opportunities for budding as well as established entrepreneurs looking to venture into the world of business in Dubai. Shuraa is one of the best business set up companies in the UAE and can help you get your company registered within a week.
Shuraa also ensures that the entire process of your company set up runs smoothly. Our expert consultants will guide you through the entire process from registering your business, regulatory requirements, understanding DMCC free zone license cost, all the way up to the process of obtaining approvals from the authorities.
To get started and find out more, contact our expert consultants at +97144081900 or send a WhatsApp message on +971507775554. You can also drop in an email at [email protected] and get your queries answered in no time.