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Dubai Multi Commodities Centre

Dubai Multi Commodities Centre

Established in 2002 as a commodities marketplace in the heart of Dubai’s Jumeirah Lake Tower District (JLT), the Dubai Multi Commodities Centre (DMCC) is one of the world’s largest and fastest-growing free zones. More than 22,000 companies from various industries and sectors, including Argo, energy, financial services, and the mining of basic metals, gold, and diamonds, call it home today.

For eight consecutive years, the Financial Times FDI magazine has named DMCC the Global Free Zone of the Year, recognising it as the greatest location for business establishment in the United Arab Emirates, thanks to its top-notch amenities, cutting-edge infrastructure, and simplified legal and regulatory frameworks. With its unmatched business solutions and active community, DMCC will help you realise your aspirations.

Dubai Multi Commodities Centre

Setting up a Business in a Free Zone

Global economic marketplaces have shifted as a result of free zones, which have provided entrepreneurs with a plethora of business opportunities and a favourable impact worldwide. Being in a free zone gives the company access to special advantages.

  • 100% Repatriation of profit
  • Steady & Transparent Laws & Regulations
  • Easy Recruitment and competitive workforce
  • Exemption from Import & Exports
  • Fully Functional Infrastructure
  • 0% corporate tax for qualified income

Benefits of DMC

  • A low corporate tax rate and 0% personal income tax
  • Complete capital repatriation and ownership of the firm
  • Increased networking chances for business growth by establishing connections with over 22,000 businesses through a variety of events and courses.
  • Strategically located near important transportation hubs, international markets, and road networks, allowing easy access between Abu Dhabi and Dubai.
  • provides special services such as medical care, service desks, equipped and staffed offices, flexible visas, and much more.
  • comprehensive website for customer support and business setup in DMCC.
  • The best security system to provide a safe atmosphere.
  • Fair Licence Prices at DMCC.

Business Setup Process in DMCC

Phase 1 (Pre-Incorporation Steps)

– Client Onboarding and Preliminary arrangements

After the customer is brought on board, the engagement letter is signed and the due diligence paperwork is gathered. Verification of the business structure and additional foundational tasks Determine and verify the activities that are licenced. A firm’s directors, managers, shareholders, and three desired names in compliance with DMCC regulations are all listed, along with the first documentation that must be obtained from the client to establish a DMCC corporation.

Phase 2 (Incorporation Steps)

– Portal set up and Initial Approval

Our group creates the client’s DMCC portal account and gets the first application for approval ready. DMCC compliance grants an initial approval after reviewing the application to make sure everything complies with its regulations and policies. The DMCC then offers instructions for the incorporation’s subsequent stages.

Phase 3 (Post Incorporation steps)

– Incorporation final steps

The necessary paperwork is reviewed, signed, notarized, and attested by our customer. After receiving confirmation from the client, our staff rents an office/flex desk located in DMCC and submits it with notarized documentation. The client and the DMCC executive arrange a video conference to verify the client’s passport. The service licence, articles of association, and bank introductory letter are issued by DMCC in a single day.

Phase 4

– Open a corporate bank account in Dubai

Through communication with the customer’s selected banking partners, submission of the necessary paperwork, and completion of due diligence, our team would help the client establish a business bank account.

Phase 5

– Employee visa and other requirements

Our team would arrange for the stamping of a client’s visa and prepare and submit the request upon request.

DMCC License Categories

  1. Trading License: Permits practically all product categories to be imported, exported, distributed, combined, and stored. A business with share capital, wherein members’ liability is restricted to the amount of unpaid shares, if any. It is unable to sell the public its shares.
  2. Industrial License: Permits the execution of the license’s designated light production activities.
  3. Service License: Permits the performance of the services or consulting tasks outlined in the licence.

Key requirements for setting up in DMCC

  1. Name
  2. Director
  3. Resolution
  4. Articles of Association
  5. Authorized signatory
  6. MLRO (in the case of DNFBPs)
  7. Shareholders & shareholding details
  8. Ultimate Beneficial owner details

To be registered with the DMCC Registration Authority, obtaining the licence is not the sole prerequisite. You cannot operate your entity without office space. 

Dubai Multi Commodities Centre

Documents Required for the Incorporation

  1. Passport Copy/Emirates ID & Visa Page (if applicable)
  2. Address Proof (Utility Bill/Tenancy Contract)
  3. Business Profile
  4. Business Plan (Depends on Activities)
  5. Shareholder education and experience certificates (Depends on activities)
  6. Third-party No objection certificate (For certain activities)

FAQs

Can I own 100% of the DMCC (Dubai) corporation as a foreigner?

When setting up a DMCC, foreigners in the UAE can enjoy 100% ownership of their firm in addition to full capital repatriation.

Can I open a bank account with DMCC (Dubai) for my business?

Yes, you can benefit from the vast financial capabilities offered by DMCC while also utilising the local banking infrastructure.

What is the minimum share capital needed to establish a business in Dubai’s DMCC?

AED 50,000 is the minimum share capital required by DMCC for a free zone firm.

Is there any activity that a branch firm can apply for?

Only the activities that its parent business is currently licenced for may a branch company obtain a licence. The fact that these activities are offered in DMCC is also crucial.

Do I have to live in Dubai to open a business there?

No, because Free Zones and onshore enterprises located in the UAE now allow for 100% foreign ownership.

Why is it that I have to open a business in Dubai?

The United Arab Emirates is the largest market in the world and a great place to do business. Additionally, there is a tax exemption for the entrepreneurs. They can also benefit from first-rate logistics and don’t even need funds to set up a firm in Dubai. 

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