Dubai Multi Commodities Centre, known as DMCC, is well-known as the leading global free zone. Settled in the lively heart of Dubai, it provides abundant opportunities for retail and commerce. Acknowledged as the Global Free Zone of the Year by the Financial Times Magazine for four consecutive years, DMCC Freezone Company Setup hosts a booming community of over 21,000 companies, with nearly 200 new additions each month, making it a prime destination for entrepreneurs seeking an active business environment.
At the center of Jumeirah Lakes Towers (JLT), one of Dubai’s premier locations, DMCC offers unmatched connectivity to Sheikh Zayed Road, making it an ideal choice for introduction and business expansion. Established in 2002, DMCC has become a focal point for companies involved in various trade activities, easing a high volume of company registrations and listing over 11,000 entities quickly.
DMCC’s free zones have played a vital role in nurturing the growth of trade and commerce in Dubai. To learn more about the DMCC Freezone Company setup, read about Shuraa Business Setup, which offers valuable insights and assistance.
Benefits of Opening a DMCC Free Zone Company Setup
Setting up a DMCC Free Zone Company Setup offers pathways to growth and prosperity for your business. Moreover, company formation within the Dubai Multi Commodities Centre free zone presents entrepreneurs with a plethora of opportunities, including:
- 100% foreign ownership
- A highly tax-friendly environment
- Complete repatriation of profits
- Strategic location
- Streamlined business setup process
- Access to an international community and collaborative prospects
- Possibility of obtaining a dual license (for some business activities only)
- Convenient acquisition of approvals, permissions, and registrations
Easy Steps to Register A DMCC Free Zone Company
Ready to turn your DMCC business aspirations into reality? Shuraa simplifies the process for you.
1. Define A Business Plan & Strategy with Shuraa’s Help
Before registering, it’s crucial to define your business plan and strategy. Shuraa provides expert guidance in choosing the ideal license type and determining the appropriate business activities for your venture. Additionally, they help you understand the required documents and associated costs, ensuring you are well-prepared for the registration process. A Shuraa representative will work with you through the online portal with personalised assistance, ensuring a seamless experience.
2. Company Registration Filing
Once your business plan is in place, it’s time to recruit the registration process. You must fill out the online registration form and pay the initial fee. Shuraa handles the company name reservations and approvals, streamlining your process.
3. Secure Your Business License
The next step after completing the registration filing is to secure your business license. This involves paying the necessary registration and license fees. You’ll also need to sign legal documents and receive provisional approval along with a bank letter. The advantage here is that you can set up your company remotely without requiring a visit to Dubai.
4. Find Your Perfect Office Space
Selecting a suitable office space is crucial for your business operations. With expert guidance from Shuraa, you can choose and finalise the ideal office solution that meets your requirements.
5. Start Operating
Once you’ve obtained your official E-License, you can start operating your business in DMCC. The streamlined process ensures a fast and efficient registration experience, with an average setup time of 10 working days.
Documents Required for DMCC Free Zone Company Setup
When registering your DMCC Free Zone Company Setup, ensure you have the following documents ready:
- Online Pre-Approval Application Form
- Copy of your passport (along with UAE residence visa/Emirates ID, if applicable)
- Proof of residential address in your home country (such as a utility bill or bank statement)
- Copies of parent company documents
- Any necessary third-party approvals for your business activity
- Office space confirmation (after registration)
Facilities Offered in the DMCC Free Zone
Thinking of establishing your business in Dubai without the complexities? DMCC Free Zone simplifies the process, providing streamlined paperwork, efficient government services, and readily available support. Explore a diverse portfolio of cost-effective properties, including:
- Choose from sleek modern apartments and office spaces to find your perfect home or headquarters.
- Customise your ideal workspace from scratch or move into a fully equipped unit.
- Enjoy the flexibility of co-working spaces at your convenience.
- Scale up with spacious, world-class facilities.
- Establish your brand in a vibrant, high-traffic environment.
- Get your production up and running quickly and efficiently.
Licenses Offered by DMCC Free Zone Authorities
The DMCC free zone provides a range of licenses, including:
Moreover, a significant advantage of acquiring a license in the DMCC-free zone is that entrepreneurs can conduct up to 5 activities from the same category under one license based on the company.
Another notable feature of the DMCC free zone is its provision for dual licensing. Entrepreneurs can obtain a dual license to expand their business operations to the mainland or onshore. To qualify for dual support, entrepreneurs must obtain both a DMCC license and a mainland license.
Furthermore, DMCC is one of the few free zones that permit the trading of crypto commodities. It is recognised as the go-to free zone for businesses trading rough gold, diamonds, and precious stones.
DMCC Free Zone License Cost
Setting up a company in DMCC offers important potential for ambitious entrepreneurs. However, it is vital to understand the full spectrum of expenses involved in the setup process.
The early investment for starting a business in the DMCC free zone typically starts at around AED 28,500 to AED 50,000. However, the final cost of the license can vary depending on factors such as the type of license, specific business activities, and other applicable considerations.
DMCC Free Zone License Renewal
Renewing business licenses within the DMCC-free zone is cost-effective and straightforward. From the second renewal onwards, you’ll need to provide an annual audit report.
To finalize your company’s renewal process, you must pay the renewal fee and submit the signed lease agreement for your facility. An advantage is that physical presence in the UAE isn’t mandatory for renewal and can be skilled through an appointed agent.
- 1 -Year Licence Renewal – AED 20,265
- 2 -Years Licence Renewal – AED 40,530
- 3 -Years Licence Renewal – AED 60,795
- 5 -Years Licence Renewal – AED 101,325
Business Liquidation Process in DMCC Free Zone
Like the renewal process, settling a company in the DMCC-free zone doesn’t require the owner’s physical presence and can be handled through an appointed agent. You’ll need to pay the government fee to complete the liquidation process.
The company liquidation typically takes around one month to complete and involves the following steps:
- Cancellation of visas
- Termination of the lease agreement
- Closure of bank account
DMCC Company Formation with Shuraa
For entrepreneurs aspiring to establish a prominent presence in the UAE, incorporating their company in the Dubai Multi Commodities Center Free Zone is a strategic move. The DMCC Free Zone offers an advantageous environment for business growth and success, boastful numerous benefits, lucrative business opportunities, and an upfront startup process.
Directing the difficulties of beginning a business in the DMCC Free Zone can be easy by following the step-by-step procedure outlined in this blog and leveraging the expertise of a trusted business setup service provider like Shuraa Business Setup.
Begin your entrepreneurial expedition today and capitalize on the boundless chances the DMCC Free Zone offers. Contact us for a complimentary consultation and kickstart your business in Dubai.