Business Setup in Dmcc Free Zone

Dubai Multi Commodities Centre, also widely known as DMCC, is titled the world’s no. 1 free zone. The free zone is based in the heart of Dubai, booming with opportunities for the retail and commerce sector. Furthermore, DMCC has been voted Global Free Zone of the Year for 4 years in a row by the Financial Times fDi Magazine.

The free zone harbours 15,000 companies, with almost 200 joining every month. Hence, it an ideal option for entrepreneurs looking for a destination booming with opportunities.

Located at the centre of JLT, it is one of the most esteemed locations in Dubai. Moreover, the free zone has convenient access to Sheikh Zayed Road and Expo 2020 site. This makes it one of the key destinations to start your business and have it reach its potential easily. 

Formed in 2002, DMCC has transformed into the point of convergence for companies that traded various products. Furthermore, within a matter of years, DMCC has achieved the maximum number of company registrations and has listed more than 11,000 companies. DMCC free zone has been a major contributor to the development of trade and commerce in Dubai.

Advantages of company formation in DMCC free zone

DMCC company set up would allow for advancement and success for your business. In addition, company formation in Dubai Multi Commodities Centre free zone provides entrepreneurs with numerous opportunities including the following:

• 100% foreign ownership
• No personal, income, or corporate taxes
• Full repatriation of capital and profits
• Strategic location boosting opportunities
• Simple and quick set up process
• International community and collaboration opportunities
• Numerous networking opportunities
• Ability to obtain a dual license
• Convenient process of acquiring approvals, permissions, registration

Facilities offered in DMCC free zone

DMCC free zone offers a simple set up process with the sponsorship of employees and other government-related services, which incorporates a wide range of affordable property choices. The various facilities offered in DMCC free zone include:

• Commercial and residential towers
• Offices shell & core, serviced offices,
• virtual and flexi desks
• Retail outlets
• Light manufacturing facilities

DMCC free zone also offers plug and play flexi- desks and serviced offices to multi-storey offices for lease or sale.

Licenses offered by DMCC free zone authorities

DMCC free zone offers various licenses including the following:

• General trading license
• Service license
• Industrial license
• Commercial license

Additionally, an advantage of obtaining a license in DMCC free zone is that entrepreneurs can conduct up to 5 activities from the same category under one license based on the company.

Another attractive point to note about DMCC free zone is that it is one of the few free zones that allow entrepreneurs to obtain a dual license. Dual licensing enables businesses to extend their business to mainland or onshore. In order to be eligible for a dual license, entrepreneurs will be required to obtain DMCC license and mainland license.

Furthermore, it is also one of two free zones that allow crypto commodities trading. DMCC is also known for being the free zone that is prominent for businesses that deal with rough gold, diamonds and precious stones.

DMCC free zone license renewal

The renewal process of businesses in the DMCC free zone is a highly cost-effective and simple process. You will be required to submit an audit report starting from the second renewal of your company on an annual basis.

In order to complete the process of renewal for your company, you will need to pay the renewal fee as well as submit the signed lease agreement for your facility. An advantage is that your physical presence in the UAE isn’t required for renewal and can be completed through an agent.

Business liquidation in DMCC free zone

Similar to renewal, company liquidation also does not need the physical presence of the owner and can be accomplished through an agent. You will be required to pay the government fee to complete the process of liquidation. Company liquidation takes about 1 month to be completed and involves the following steps:

• Cancellation of visas
• Termination of the lease agreement
• Closure of bank account

Shuraa offers an array of services and helps you with processes from business registration all the way to legal formalities and advice. Our services will take care of the entire process of setting up your DMCC company and get you from point A to point B in no time. You can book a free consultation with Shuraa and for further details and enquiry, visit our website or contact us on +97144081900.

Frequently asked questions about DMCC free zone