Dubai Multi Commodities Center (DMCC) is the ideal trading base for Dubai and the UAE, with over 15000 companies operating here. Situated in the heart of new Dubai, the DMCC is the largest and rapidly developing free zone in the UAE. If you want to setting up a company in DMCC free zone and want to understand the entire process then we at Start Any Business UAE will guide you properly and help you throughout the process of DMCC company setup.
DMCC free zone is exponentially growing as annually 2,000 plus companies are registering to conduct business under free zone liberal business policies. They enjoy the benefits of 100% ex-pat ownership and a tax-free environment in the best business district in the region.
Due to its proximity to major business centers, it allows companies to achieve maximum benefits. As businesses have access to more shipping which lets them reach out to the thriving international markets. DMCC is playing important role in connecting international markets through trade.
Process For DMCC Company Setup
1) Decide The Type Of Company
To set up a company DMCC you need to decide the type of company you want to operate. For example, Limited Liability Company as a newly formed entity with single or multiple shareholders, Limited Liability Company as a wholly-owned subsidiary of the local foreign company, and branch of local or foreign company. You must make an appropriate decision.
2) Choose The Business Activity
The next step is to start your company in DMCC is you have to decide your business activity that you want to carry. There are many potential activities to select from and you should intend to move any list to your license application.
3) Select The Company Name
Select a company is a very crucial decision, sometimes that can make or break your business, there are some facts to think over when you naming your company, it suitable for the market and it attracts the segment of the market that you want to target. You must follow certain naming conventions. The first step you require to check it online through the emirate government’s website.
4) Apply For The Business License
Applying for a business license is the most important to setting up a company in DMCC. The type of license is depending on business activity. To apply for a business license in Dubai, you require to fill the application form and collect the documents and submit them to the relevant authority.
5) Opening A Corporate Bank Account
You will require to open a corporate bank account to handle the transaction of your company. You must have the right documents that are required, such as, an account opening form, company trade license, certificate of your company registration, etc.
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Documents Required For DMCC Company Setup
Following are very crucial documents that are required for setting up a company in DMCC.
- Correctly and properly filled application form
- Copy of passport, Emirates ID, and UAE residence visa
- Summary of business plan
- Office address in DMCC
- Power of attorney for the manager, secretary, Director, and specimen signature
- Copies of parent company documents
- No Objection Certificate from the sponsor if holding UAE residence visa
These all the necessary documents that have to submit. We at Start Any Business UAE assist you during the process of documentation.
Benefits Of DMCC Company Setup
The benefits of DMCC company setup are given below:
- 100% foreign ownership of your company
- Zero taxation on personal and corporate income
- No restriction on capital repatriation
- No duty levied on import and export
- Availability of trading platforms comprising DMCC tea center, Dubai Diamond exchange, and others
- Flexible office solutions
- Present in the heart of new Dubai with proximity to Dubai International airport and seaport
- World-class infrastructure available
- Rapidly growing free zone in the UAE and GCC
How We Can Help You
Start Any Business UAE is a reputed business setup consultants who provide a comprehensive range of service to clients. We have a team of skilled professionals who helped setting up a company in Dubai, UAE many times.
We assist you in the entire process of DMCC company setup. Our experts went through this process many times. We make your process easy, reliable, and successful without any trouble. We are able to complete this process in a shortage possible time.
Frequently Asked Question (FAQs) on DMCC Company Setup
For a DMCC company setup, you must choose a business activity and trade name, complete the registration process with DMCC, and obtain the necessary licenses and permits.
DMCC is a government-owned free trade zone in Dubai, providing a range of services and benefits to businesses.
DMCC company setup refers to the Dubai Multi Commodities Centre, a hub for trade and investment in commodities such as precious metals, diamonds, and energy.
A DMCC license is a permit issued by the DMCC allowing a company to operate within the free trade zone.
A DMCC company setup is a simple procedure and it is very beneficial. There are over 15,000 companies in DMCC.
The duration of a DMCC visa depends on the type of visa and the individual circumstances, but it can range from three to five years.
The minimum capital requirement in DMCC is AED 50,000.
To liquidate a company in DMCC, you must follow the steps outlined in the DMCC rules and regulations, which include obtaining approvals and closing down the company.
To get a DMCC salary certificate, you may need to request it from your employer or contact the DMCC directly.
Gratuity in DMCC is calculated based on the number of years of service and the employee’s basic salary, as per the UAE Labor Law and DMCC policies.