Planning to start a company in DMCC? This article is exactly what you need right now! We will take you through the top benefits of starting a company in DMCC and how to do that. Due to the provision of the necessary physical, market, and financial infrastructure for the establishment of a commodities marketplace in Dubai, the Dubai Multi Commodities Center (DMCC) has emerged as the preeminent Dubai Free Zone for the formation of new businesses.
Potential DMCC customers include those in the energy sector, the steel and basic metals business, the soft agricultural commodities sector, and the precious commodities sector, which includes the trading of gold, diamonds, colored stones, and pearls (tea, cotton, and others).
Financial institutions, logistics providers, management consultants, insurers, and brokers are just some of the sectors represented at DMCC that are integral to the production and distribution of these and other commodities. What’s more, DMCC brings together a number of ancillary enterprises.
What Makes it an Excellent Business Opportunity?
The Jumeirah Lakes Towers complex includes homes, offices, a metro station, and commercial centers, and it is conveniently located near many forms of public transit. Despite the region’s vastness, getting about JLT is simple because to its Cluster-based organisational structure. Communities may be found both on the lakeside and on the side that faces Sheikh Zayed Road.
Businesses and their workers are able to maintain a healthy and productive work environment because to the availability of a safe environment and quick access to a broad variety of services, such as the metro, sporting facilities, and stores.
Businesses with worldwide aspirations could do well to incorporate or open a branch office in DMCC.
- Exclusively Designed Offices
One of DMCC’s many offerings is the chance to lease or buy commercial or residential real estate in Dubai. It’s a great opportunity for businesses with sights set on expanding into both the Dubai and international markets. The Dubai Multi Commodities Centre (DMCC) is an excellent option for anyone looking to establish a business in a free trade zone. Renting a flexi desk or using shared office space is an option if you don’t need a permanent workspace but would still want to have somewhere to work for a few hours.
- Possibility of Acquiring One’s Own Real Estate
Since all of the DMCC’s business takes place inside the free zone, it is eligible to own freehold property in the city. Apart from Starting a Business in DMCC, you can do much more – it is exciting, right?
- Approvals to Stay
Having investors on board might help you take advantage of possibilities, such as buying property in Dubai. Both the employee and the company that employs them may apply for and get a work visa. The authority’s assistance with immigration issues has substantially streamlined the visa-application procedure. To accommodate the increased volume of visa applications, more staffing resources are required.
- Organizational Structure of Shareholders
Shareholders might be either one person or a corporation. It can help you Start a Business in DMCC in a much smoother and streamlined way.
- Company Incorporation in The State of Delaware
Acquiring a Trade License might take up to two weeks and requires prior clearance in certain cases. It’s estimated that 50,000 AED will be required. Freemont Group is ready to walk beside you as you establish your new business. As incorporation is required for certain ventures, we may also draught a business plan for that reason. You’ll also have to show that you’ve invested at least 50,000 AED (Emirati Dirhams) with the bank. Still wondering How to setup a company in UAE, no worries, keep reading!
Getting Your DMCC Company Up and Running
Gathering the same papers required for forming a company with the Dubai Trade Register is necessary to meet the criteria for starting a business in DMCC, which are the same as those for launching a business anyplace else in Dubai.
- Free zones such as the Dubai Multi Commodities Centre attract entrepreneurs from all over the globe. Establishing a limited liability corporation (LLC) or a satellite office necessitates the following:
- A minimum of 50,000 AED in start-up capital is required for a new entity or subsidiary, which must be paid in full three weeks before to incorporation and is withdrawable once incorporation is finalized;
The corporation needs at least one shareholder and may have between two and seven directors from any nation in the globe.
- Companies may get permits to participate in retail, wholesale, or service-based commerce;
- Managers in all companies need to be trustworthy people;
- There must be a registered office for every company.
What Are the Top Benefits?
There are a number of benefits to setting a shop in the Dubai Multi Commodities Centre Free Zone.
- Every facet of the business is owned and operated by outside investors.
- For both individuals and businesses, the tax rate is 0%.
- One Hundred Percent Reinvestment of Profits
- The budget can go as high as it needs to.
- A broad variety of legitimate business activities
- Exceptional concentrations of key industries and purpose-built infrastructures.
- DMCC events give consistent opportunities for professional networking
- Shared offices, flexi desks, and serviced offices are all examples of flexible workplace arrangements.
- The ability to get a work visa or permanent residence for both stockholders and employees;
- Activities for which DMCC licenses are required
- The commodities covered by the Dealing License are limited to those listed in the license.
- You may legally deal in any legal commodities with the General Trading License.
- The holder of a Service License is authorized to perform both the provision of the licensed services and the provision of related consulting services.
- The holder of an Industrial License from a DMCC is authorized to carry out the limited production activities specified in their license.
- A Branch Company allows an existing company to set up shop in the DMCC Free Zone as an independent legal entity.
- Certificate of Competence from the DMCC
What to Keep in Mind?
Each applicant must maintain compliance with the following requirements:
- Have a current DMCC Administration registration for your company;
- Have a current lease or freehold title to the property;
- Are in compliance with all applicable laws, rules, and regulations in Dubai and the UAE, as well as all applicable laws, rules, and regulations at the federal level of the UAE.
Look for a reliable group of business experts that can help you establish your firm in DMCC, which may increase your chances of growth and success.
Parting Thoughts
People and businesses interested in investing in the trade, business, and consultancy industries. In DMCC, you’ll find some of the most recognizable names in regional business and service.