Dubai Multi Commodities Centre(DMCC)
DMCC or Dubai Multi Commodities Centre, popularly known as the “Global Free Zone of the Year”, was established by the Dubai government in 2002. It is a dynamic waterfront district with designated areas. For all business activities in Jumeirah Lakes Towers, the DMCC Authority is the licensing authority. Therefore, businesses in DMCC benefit from a free zone status, making it a mixed-use free zone in Dubai. Attractive office and residential towers with retail establishments and recreational hotels are available at DMCC. There are a total of 79 towers, of which 3 towers are being developed by DMCC. The towers are known as Almas, AU and AG Tower. Almas Tower is located on an island in the centre of the development and is considered the focal point of the development. The tower is home to the popular Dubai Diamond Exchange as well as DMCC member companies in the diamond, gold, energy and commodities sectors. The Dubai Multi Commodities Centre is located next to Sheikh Zayed Road, between junctions 5 and 6, and its 79 towers soar into the sky, making it a prestigious project and one of the most recognisable addresses in Dubai. Here, real estate owners have the opportunity to own and develop towers on a freehold basis. We are experts when it comes to setting up businesses in the DMCC Free Zone and can be consulted on all related matters.
To qualify or retain licenses from DMCCA, applicant must follow the below criteria,
- Have a valid lease for office space or be the registered owner of the freehold office space within DMCC. It must have the operational premises within the DMCC center.
- Conform to any applicable federal and/or municipal legislation
- Conform to the Operating Regulations as well as all other applicable DMCCA directives.
- DMCC offers licenses that shall be valid for one year from the date of issuance and may be renewed annually provided that the Licensee either holds a valid lease for office space within the DMCC from which it operates or is the registered owner of freehold office space within the DMCC from which it operates;
Forms of Registration
- As a branch of foreign company or a UAE company
- DMCC Limited Liability Company
DMCC offers 100% foreign ownership to its investors. The DMCC’s core and non-core businesses are governed by DMCCA operating regulations.
Basic Features of DMCC Company
- A DMCC Company is a limited liability company wherein the shares can be held either by a single or multiple shareholders. The shareholder/s can be either individual/s or corporate entities.
- The minimum share capital required for forming a Dubai multi commodities centre (DMCC) company would be AED 50,000/- (AED 10,000 per shareholder) for Specific Trading or Service License and AED 1,000,000 for General Trading License. The value of each share is AED 1,000 or multiples thereof. The capital contributed for the DMCC Company can be utilized in the operations of the company. In case of branch of a local or foreign company, no initial share capital is required. Special rules and regulations are applicable for DMCC companies.
- The DMCC Company needs to appoint minimum one Director, a Manager, a Secretary and a Negotiator. The Director, Manager, Secretary and Negotiator can be the same the person.
- The manager will be required to be on the residence visa of the company under the sponsorship of the Free Zone Authority. To validate the visa, the Manager, would be required to enter the country at least once in six months. In case the Manager is already having a UAE visa, an NOC from the present sponsor has to be submitted.
- DMCC offers 100% foreign ownership
- 100% tax exemption
- 50 years tax holiday
- Full repatriation of capital & profits
- Extended leases and option to either lease the premises or to have it as Freehold ownership
Basic Features of DMCC company branch office
- Branch is usually an extension of the Parent company
- Branch requires no minimum capital
- A foreign company should be at least two years old to be registered as a branch office at DMCC
- Audited financial are not required to be submitted to FZ Authority.
- Profits of the branch would be taxed as per the laws prevalent in the country of residence of the parent company.
The Dubai Multicommodities Center provides a centralized international trading hub that facilitates and controls commerce in a variety of items. DMCC serves customers worldwide and has excellent infrastructure.
Need Assistance with DMCC Free Zone Company Setup in the UAE?
Our team at Novaspace Business Setup has years of experience assisting customers in locating their companies at the DMCC, or Dubai Multi Commodities Centre. With its own metro station and a handy location on Sheikh Zayed Road in Dubai, the DMCC is a great address. An office in the Dubai Multi Commodities Centre Free Zone could benefit you as well as provide a variety of other advantages, such as excellent access to the rest of Dubai.
Government Departments
We can help you with the processes in the following government departments
