Dubai Multi Commodities Centre (DMCC)
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Dubai is known for its thriving business environment, and the Dubai Multi Commodities Centre (DMCC) is a testament to this. Established in 2002, DMCC is one of the fastest-growing free zones in the UAE, with over 18,000 registered businesses.
If you’re looking to set up a business in Dubai, here’s what you need to know about DMCC.
DMCC is a free zone authority that provides businesses with a range of services, including company registration, licensing, and visa sponsorship. The free zone is located in Jumeirah Lakes Towers (JLT), which is one of the most vibrant and dynamic areas in Dubai.
DMCC is home to businesses from different sectors, including commodities trading, finance, IT, and logistics. The free zone provides businesses with a range of benefits, including 100% ownership, zero corporate and personal tax, and easy access to Dubai’s markets and infrastructure.
How to set up a business in DMCC?
Setting up a business in DMCC is a straightforward process that can be completed in a few steps:
- Choose your business activity: DMCC allows businesses to engage in different activities, including trading, manufacturing, and services. Businesses must choose their activity and ensure that it is in line with DMCC’s guidelines.
- Choose your business structure: Businesses can choose to set up as a branch or a subsidiary of an existing company or as a new company.
- Choose your office space: DMCC offers a range of office spaces, including flexi-desks, serviced offices, and commercial offices. Businesses must choose their office space based on their needs and budget.
- Register your company: Businesses must register their company with DMCC and obtain a trade license.
- Open a bank account: Businesses must open a bank account in Dubai and deposit the minimum share capital required by DMCC.
- Obtain visas: DMCC provides a visa sponsorship service for businesses that set up in the free zone. The number of visas that businesses can apply for depends on their office space and the nature of their business.
Benefits of setting up a business in DMCC
DMCC provides businesses with a range of benefits, including:
- 100% ownership: Businesses can have 100% ownership of their company, without the need for a local partner.
- Zero corporate and personal tax: Businesses are exempt from corporate and personal tax, which means that they can save a significant amount of money.
- Easy access to Dubai’s markets and infrastructure: DMCC is located in JLT, which is a strategic location that provides businesses with easy access to Dubai’s markets and infrastructure.
- World-class business facilities: DMCC offers businesses world-class business facilities, including state-of-the-art offices, meeting rooms, and conference halls.
FAQs
What are the types of licenses offered by DMCC?
Can any business set up in DMCC?
What are the visa requirements for setting up a business in DMCC?
What are the costs of setting up a business in DMCC?
What is the process of renewing a trade license in DMCC?
Conclusion
The Dubai Multi Commodities Centre (DMCC) is a thriving free zone that provides businesses with a range of benefits, including 100% ownership, zero corporate and personal tax, and easy access to Dubai’s markets and infrastructure. The process of setting up a business in DMCC is straightforward, and businesses can choose from a range of office spaces and licenses. DMCC is a great option for businesses that are looking to establish a presence in Dubai and tap into the city’s dynamic business environment.
