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Dubai Multi Commodities Centre (DMCC)

DMCC Free Economic Zone was founded in early 2002 as a multi-profile free economic zone specializing in commodity trading.  This is a strategic project of the Government of the Emirate of Dubai, aimed at creating a regulated commodity market in the UAE and all the necessary infrastructure for this.  DMCC is a single business platform combining a wide variety of economic and commercial activities related to raw materials and goods (petrochemicals, precious metals, coffee, cotton, tea, etc.). In addition, companies providing related services such as restaurants, shops, beauty salons, etc. can be registered in the territory of the free economic zone.

 

Company advantages in the DMCC

 

  • The possibility of 100%  company ownership by foreign citizens;

  •  Exemption of international companies from corporate taxation;

  • No government restrictions on the distribution of profits and repatriation of investment assets;

  • Regulatory processes and legal base in accordance with international standards;

  • Ideal business environment built on the principles of transparent cooperation;

  • Perfect infrastructure, efficient transportation solutions, modern communications and media;

  • Convenience of work and a simplified procedure for company registration and visa processing (the principle of "one window").

  • This free zone is considered one of the most reliable from the point of view of banks

 

Types of companies

 

DMCC companies are limited liability companies.

 

Types of licenses

Trading License - a license allows a company to trade products specified in the license.  It is also possible to register companies with the General Trading License - a license that allows you to trade all types of goods allowed in this free zone. 

 

Service License - a license allows to provide services.

 

Industrial License - mainly for gold processing companies. 

 

Shareholders and management

 

At least one shareholder (individual or legal entity).

At least one director (individual only).

 

Authorized capital

 

The minimum authorized capital is 50,000 UAE dirhams per shareholder.  The authorized capital must be paid within three weeks from the date of company registration.  If the company sets a registered capital of 500,000 dirhams or more in UAE, then the payment of the authorized capital is a condition for issuing a license, that is, the authorized capital must be paid in order for the company to obtain a license.

 

Office spaces

− Flexi Desk

Separate workplace in a common office.  Such an office is rented directly from DMCC.

 - Standard office - rented in the JLT area from the owner of the office (private person)

 

Visas

 

The number of visas depends on the type of office you choose.  On Flexi Desk 3 visas are given, on the standard one - from 5 visas.

 

Accounting and auditing

 

Annual submission of audit reports is required.

 

Notes

 

1. The registration deadline for a company  is 15-25 working days from the filing date (if additional approval is required, the so-called third party NOC, it may be longer_

2. A personal visit of a shareholder or representative acting on the basis of a power of attorney legalized in the UAE is required.

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The specialists of PARUS are always ready to advise you in more detail on all issues regarding the company registration procedure in Dubai Multi Commodities Centre.