Over 13,000 companies have chosen the Dubai Multi Commodities Centre (DMCC), the largest and fastest growing free zone in UAE, as the ideal location to set up their business. DMCC offers one of the most attractive environments in the world to do business.
The reason behind this is that DMCC Free Zone companies enjoy 0% corporate and personal tax for 50 years, 100% foreign ownership, 100% repatriation of capital and profits, simple set up process, no currency restrictions, and 100% import and export tax exemption. Moreover, the Free Zone Company can have one or multiple shareholders.
Before taking a deep dive into the steps of setting a company at DMCC, let’s look at some other key advantages of being a member in the free zone:
- Affordable company setup costs: Entrepreneurs can start a company in DMCC for under AED 100,000.
- Wide variety of business types: It allows entrepreneurs to undertake a wide arrangement of business activities without the need for a local sponsor
- Easy corporate bank account setup: The DMCC Free Zone streamlines setting up your business bank account in Dubai.
- Multiple office packages: Dubai Multi Commodities Centre offers various services, including licensing and registration as well as other general services.
- Establishing a branch or representation office: If you are looking to expand, the DMCC makes it easy to open a branch of an existing business.
How to Setup a Company in DMCC?
- At the very outset you have to determine which company type you want to operate; limited liability company, Branch of a local/foreign company, Limited liability Company as a fully owned subsidiary.
- Decide on your company name that reflects the identity of the company; it should be directly related to your business activity, and it should not have been already taken by some other business entity.
- Hire one of well-experienced Business setup consultant in Dubai like us to complete and submit your online duly filled application form and pay the application fees. Then, pay the registration and license fees and sign the legal documents. Following this, a pre-approval is examined from the DMCC, the company is completely registered and licenses are obtained after this.
- The Company should have a physical presence in the free zone. In other words, it’s impossible to work from home without renting an office in DMCC
Mentioned Below Some of the Document Required to Set Up a Company in DMCC:
- Duly filled the application form
- A valid copy of passport along with UAE residence visa copy/Entry permit stamp
- Valid proof of residential address, this can be any of the utility bills like water and electricity bills
- Thought-through business plan for certain activities
- In case you are opening a branch then, copies of parent company document are also required
- Finally, a No Objection Certificate (NOC) from the sponsor who holds a valid UAE visa
Business Link UAE has many years of experience in DMCC Company Formation and assisted many clients for establishing businesses within the DMCC. We support our clients in the whole process and it will take 15 to 20 days to obtain Trade License.