Setup A Business In DMCC (Dubai Multi Commodities Centre)
The Dubai Multi Commodities Center, also known as DMCC. It is a free economic zone established by the government of Dubai in 1985. Known as the world’s largest free zone, DMCC is a place where businesses can succeed and new companies can grow at a rapid pace. For those looking for a new business setup in UAE, DMCC Company Formation can be more beneficial that offers more advantages. DMCC company formation is relatively easy and should strongly consider by entrepreneurs/investors looking to expand in the Middle East.
Types Of DMCC Company Formation
- Branch Company
A branch company set up in Dubai Multi Commodities Centre is ideal for organizations that already operate in regions outside of Dubai. This is considered a legal entity of the parent company and operates under the same name while benefiting from the environment of Dubai and requiring no share capital.
- Free Zone Establishment (FZE)
Individual shareholders can register a company as a Free Zone Establishment in DMCC. An FZE operates in a similar fashion to an LLC. It has a legal distinction from the shareholder and all of the rights of a natural person. It does not require any additional shareholders.
- Free Zone Company (FZCO)
Multiple shareholders can put their efforts together to establish a Free Zone Company in DMCC. A free zone company is a limited liability partnership, with the liabilities of the company limited to the capital that has been paid.
Two to 50 members or companies can form a Free Zone Company or a partnership.
Types Of Licenses For DMCC Company Formation
Various licenses are required for DMCC Company Formation and there are several available, based on the type of organization. The required licenses for business setup in DMCC are as follows:
- Trade License
A trade license is necessary for an aspiring entrepreneur/investor who plans on importing, exporting, or distributing product lines.
- Service License
A service license grants the right to operate a specific service business in the Dubai Multi Commodities Centre.
- Industrial License
An industrial license requires to carry out industrial activities such as manufacturing, assembling, packaging, and exporting finish goods.
List Of Documents that need to submit:
There are several documents that must submit in order to start a business in the UAE. The documents must attest by the UAE embassy in the origin country and subsequently notarized by a notary public, which authorizes the company to start a business in Dubai.
Following the submission and approval of these documents, licenses will obtain within just 2 business days and company formation in UAE will begin. The required documents are as follows:
- DMCC application form
- Passport copy and colored passport-sized photographs of all shareholders
- No Objection Letter from the existing sponsor, if the applicant is an ex-pat resident of the UAE
- Proof of permanent residency of each member (shareholders, directors, managers, secretaries, legal representatives)
- Business plan (if applicable, depends on the business activity)
Benefits Of DMCC Company Formation
Business Setup in Dubai definitely comes with a lot of benefits, thanks to the introduction of free zones like DMCC.
The major benefits that come with Business Setup in DMCC are mention below:
- Companies operating under DMCC enjoy 100% foreign ownership and 100% repatriation on capital and profits
- Investors benefit from a simple and streamlined employee sponsorship process
- In DMCC, a company can be set up by even a single
- Dubai Multi Commodities Center business setup allows the investors to sponsor residency and employee visas
- Located on Sheikh Zayed Road, its strategic location and close proximity to ports and major industry corridors is something that every investor/entrepreneur desires
- Those who opt for business setup in Dubai enjoy less tax exemption on
- Corporate and personal income
- All imports and exports.
To utilize the benefits that come with a company set up in DMCC, entrepreneurs and investors should team up with a reputable Business Setup Consultancy in Dubai to help them acquire the right licenses and operate efficiently.
At Business Link UAE, we have the best business setup consultants in Dubai who know how to make the process of business set up a breeze for both, seasoned and aspiring entrepreneurs.
From helping you apply for the right license to creating a feasibility study and a business plan, our reputable business consultants will help you at each and every step of starting a company in Dubai Multi Commodities Center.