Every year, thousands of people from all over the world move to Dubai and different parts of the UAE to establish their businesses.
Among the free zones and mainland business establishments, DMCC is probably one of the best places to get started.
In this guide, we will explore the DMCC company setup in Dubai and what you require to establish your business here.
Let’s get started.
What is DMCC in Dubai?
Dubai Multi Commodities Centre (or DMCC) is the biggest and most rapidly expanding free trade zone in the UAE.
This establishment was created by the Dubai government in 2002 and has ever since been the main business centre for commodity-related enterprises.
DMCC is a popular destination that offers:
- A tax-free environment,
- Liberal business policies,
- And is essentially great for networking and business building.
With over 2,000 new companies registering annually, it plays a key role in connecting markets through trade, thanks to its proximity to major business centres.
Advantages of Company Formation in DMCC Free Zone
DMCC in Dubai houses over 24,000 companies and is known for:
– Establishing itself as the world’s leading trade hub for commodities and related products.
– Attracting and retaining the globe’s premier companies in the commodities and related sectors.
– Cultivating a vibrant and dynamic business environment in Dubai.
– Contributing significantly to the economic development of Dubai and the UAE.
Along with that, a DMCC company setup in Dubai will offer you:
- 100% Foreign Ownership: Enjoy the autonomy of full ownership of your business.
- Tax-Friendly Environment: Benefit from a tax-friendly regime that enhances profitability.
- Full Repatriation of Capital and Profits: Enjoy the freedom to repatriate capital and profits without restrictions.
- Strategic Location: Avail opportunities facilitated by the strategic location of DMCC.
- Simple and Quick Set-Up Process: Experience a streamlined process for setting up your business.
- International Community and Collaboration: Engage with a diverse international community for collaboration and growth.
- Ability to Obtain a Dual License: Extend your business reach with the option to obtain a dual license.
- Convenient Process of Acquiring Approvals: Navigate through approvals, permissions, and registrations seamlessly.
How to Register a Company in the DMCC Free Zone?
Registering a company in the DMCC Free Zone is a very streamlined process which can usually be broken down into 5 simple steps.
Here’s how you register your company in the DMCC free zone:
1. Define a Business Plan & Strategy
In our guide on business bank account opening in the UAE, we extensively talked about how important it is to have a dedicated business plan and strategy in place.
That’s what you need before setting up your DMCC Free Zone as well.
We at AB Capital can help you do that.
Working closely with experienced professionals can help you develop a solid business plan tailored to your specific goals and objectives.
AB Capital Services will assist you in selecting the ideal license type and business activities for your company.
Additionally, we will help you understand the associated costs involved in the registration process, ensuring transparency and clarity from the outset.
2. Company Registration Filing
After you have a clear business plan in place, the next step is to initiate the company registration process by filling out the online form provided by the DMCC Free Zone authorities.
This form will require essential information about your company, including:
- Details about the shareholders
- Details about the company directors
- Proposed business activities.
Along with submitting the form, you will need to pay the initial registration fee as stipulated by the DMCC.
3. Secure the Business License
After filing the registration form and paying the initial fee, the DMCC Free Zone authorities will review your application and issue a provisional approval.
At this stage, you will be required to complete the registration process by paying the relevant license fees.
AB Capital Services will guide you through this step, ensuring that all necessary payments are made promptly to expedite the process.
Once the license fees are settled, you will receive your official business license, granting you the legal authority to conduct business activities within the DMCC Free Zone.
4. Find Your Perfect Office Space
With your business license secured, it’s time to find the ideal office space for your company.
The DMCC Free Zone offers a variety of office solutions tailored to meet the diverse needs of businesses.
At the end of the day, the office you choose depends on your preferences, budget and company needs.
5. Start Operating
With your official E-License in hand and your office space secured, you are now ready to commence business operations in the DMCC Free Zone.
This marks the culmination of the registration process, and you can begin realizing your business goals and objectives in a nurturing environment.
By following these five steps and leveraging the expertise of AB Capital Services, you can navigate the company registration process in the DMCC Free Zone seamlessly.
Documents Required During Company Registration
Typically, you’d require the following documents for your DMCC company setup in Dubai:
– Online Pre-Approval Application Form
– Copy of Passport
– Proof of Residential Address
– Parent Company Documents
– Third-party approvals (if applicable)
– Office Space Agreement
What you also need to know is that the setup of a DMCC company in Dubai usually costs about AED 50,000 – depending on the license type and activities.
In conclusion, setting up your business in the DMCC Free Zone opens doors to a plethora of opportunities and advantages.
But remember, a DMCC Freezone will be more suited for companies in sectors like commodities trading, precious metals, diamonds, and pearls.
With streamlined processes, favourable regulations, and a supportive ecosystem, DMCC is the ideal destination for entrepreneurs seeking growth and success in Dubai’s thriving business landscape.
And what better way to do that than to let AB Capital help you with this?
If you want to handle the business, let us handle the backend.
Book a free consultation call with us and let us help you successfully open a business bank account in the UAE.
