Dubai has a bunch of free zones, with the Dubai Multi Commodities Centre (DMCC) being the leading free zone in the world. This has developed into a commodity center not only for the Middle East but for the world as well. DMCC free zone has great opportunities for the commerce of retail sectors.
If you are looking for DMCC free zone business setup, but are not able to do it by yourself, then no need to worry you can consult with the Start Any Business UAE consultants who will advise you on the complete process and also provide you assistance during the process and make it successful.
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The DMCC free zone is the gateway to worldwide business and the exclusive place for retail and exposure to grow your business. DMCC free zone is crowned “Global Free Zone of the Year” by the financial times FDI magazine for the 3 consecutive years, and this is home to a vibrant community, world-class services, innovative infrastructure, and a lucrative option for properties, all excellent air, road, and sea connectivity to the globe in minutes.
DMCC free zone was founded in 2002, with a strategic initiative of the government of Dubai to offer a marketplace and essential financial and physical infrastructure to derive a thriving commodities market.
Currently, the DMCC free zone is home to about 12,000 companies that are conducting actively, comprising commodities and other essential businesses. Because of its proximity to main business centers, this permits companies to gain maximum advantages. As businesses have accessibility to maximum shipping that allows them access to thriving international markets. DMCC is playing a vital role in linking international markets through trade.
The Process of DMCC free zone Business Setup
The DMCC free zone official has made it a simple and fast procedure to establish a business in DMCC free zone. All the new business people require to adhere to some simple steps that are:
- First of all, you will have to decide on your business activity and the kind of legal structure of your business from the company, which you can select from these three options – Free zone establishment, Branch of a company, and Free zone Limited Liability Company.
- The next step is, you will require to submit your essential documents. This very crucial step is to present your application for the procedure with attested required documents, including – completely filled application form, residential proof, a copy of a valid passport and visa, and business plan, and more. That you have you prepare and submit for the process of business establishment in the DMCC free zone.
- After the verification of all the paperwork and application forms given by you, the authorities would issue a lease contract and business license according to your business license approach and pay the required amount.
- After the submission of the lease contract, you need to look for a new business office to start your business activities in a dedicated manner. The DMCC free zone would issue your license, so you would be able to conduct your business in the DMCC free zone in a proper manner.
License Required for DMCC Free zone Business Setup
The DMCC gives an atmosphere that accommodates several business activities and has much to offer for all businesses. The licensing authority of the DMCC provides the license choices that are –
Service License: Permits to carry consultancy and services providing activities mentioned in the license.
Industrial License: permits the light production implementation stipulated in the license.
Commercial License: permits trading any allowed goods.
Companies can also run with other business licenses, that are allowed and as per their business activity.
Business Facilities Under DMCC Free Zone Business Setup
When you form a company in DMCC free zone, then companies have four choices of rental facilities:
- The facility of Flexi-desk as minimum office space required.
- Services office or desk
- Executive office in any commercial tower based in JLT.
- Warehouse in JAFZA free zone.
Business Activities Come Under DMCC Free Zone Business Setup
The business activities that fall under the DMCC free zone business setup are given below:
- Transport, communications, and storage.
- Quarrying and Mining
- Electricity, water, and gas supply
- Trading and Repairing
- Other community, personal and social services
- Hotels and restaurants
- Financial intermediation
- Health and Social work
Benefits of DMCC Free zone Business Setup
The benefits of DMCC Free zone Business Setup are :
- 100% overseas company ownership
- Complete exemption from personal or corporate income tax
- 100% capital repatriation and retention of business earnings
- Easy process of licensing for a range of business activities
- Sale or lease alternatives easily available for offices
- Networking possibilities such as events, exhibitions, and workshops
- No Currency Restriction
Also read: Low Investment Business Ideas in Dubai