The Dubai Multi Commodities Centre, or DMCC for short, is one of Dubai’s main free zones. The Dubai Multi Commodities Centre Free Zone, which opened in 2002, has been named the world’s fastest-growing free zone multiple times in recent years. Launched with the intent to provide a world-class business environment for commodities trading, the free zone authority has responsibility for the areas of Jebel Ali, Al Furjan, and Jumeirah Lakes Towers, all on the same latitude as Dubai International Airport.
Many international investors interested in establishing companies in Dubai chose one of the city’s free zones, with the DMCC topping their list due to its many benefits. Dubai Multi Commodities Centre offers quick business registration, and your agent will provide thorough information on the benefits of establishing a company in the Dubai Multi Commodities Centre Free Zone.
The DMCC Freezone offers unparalleled benefits for global entrepreneurs, including:
- 100% foreign ownership of listed companies;
- No income or capital gains tax;
- Complete exemption from all services charges, including company secretarial and administrative fees;
- No restrictions on foreign exchange or remittance of funds;
- International arbitration awards are enforceable in the DMCC Freezone; and,
- An affordable and quick online company formation process.
Here are the most important things to know before setting up business in DMCC Free Zone.
DMCC possible industries
At the time, the Dubai Multi Commodities Centre Free Zone is home to over 15,000 businesses that engage in trading, consulting, and fund management. In addition, the DMCC Free Zone, as its name implies, caters to investors interested in trading a variety of commodities. Among them, we’d like to highlight the following:
- Gold, silver, diamonds, platinum, and precious stones are examples of valuable metals.
- Tea, coffee, spices, and a variety of other FMCG products;
- Primary metals like iron and steel, as well as cotton and other commodities;
- Petroleum and crude oil-based goods.
You need to make sure to select the appropriate license. You should definitely think about all of the options available to you and try to find one that is both affordable for your business and appropriate for your type of work. DMCC Free Zone offers four types of licenses: industrial, service, trading, and general trading license. Whether you’re an entrepreneur, SME owner, or a multi-national corporation, DMCC offers a variety of commercial services and benefits that can help grow your business.
Quick business registration in DMCC
In the realm of business, time is one of the most valuable things, and the DMCC Authority has recognized that providing a rapid and straightforward company registration process will attract more investors. DMCC Freezone’s free company registration process is streamlined by integrating all of the required documents into a single submission.
After submitting their new company name and business plan on the online form, applicants will no longer have to submit further supporting documents. With this change, companies that successfully register with DMCC will be able to activate their corporate bank accounts and start trading in the free zone up to 24 hours after registration.
The DMCC business registration process takes just seven working days and may be performed entirely online. The only thing the investors need to do is pay the minimal incorporation charge and wait for the DMCC Authority to give the company’s registration certificate.
The steps you need to follow are:
- Expressing the interest – choosing the business niche and appropriate license
- Submitting an online application – paying the initial application fee and submitting the filled form
- Paying the registration and license fees and signing the legal documents – it can even be done digitally
- Choosing your local office and signing the lease
The DMCC Free Zone’s excellent commercial location
Another significant advantage of the Dubai Multi Commodities Centre is its location: the free zone is located near the Jumeirah Lake Towers region in the heart of the emirate. DMCC offers a number of perks for your business. Depending on the organization’s demands, it provides different sorts of facilities, such as office spaces and warehouses.
In fact, you can rent different kinds of property from them and profitable companies will be in your neighborhood. This means the free zone is ideally situated to draw on the expertise of local businesses.
The emirate’s leading financial institutes, for example, are within walking distance, while the Dubai International Financial Centre (DIFC) – which houses international banks and legal advisers – is just ten minutes away by car. DMCC also benefits from its close proximity to the Dubai International Airport, which is just 30 km away. There is no better place for your Dubai business than DMCC, so start your planning today.
