Dubai Multi Commodities Centre (DMCC) is the UAE’s largest free-trade zone that is located in the Jumeirah Lake Towers district of Dubai. It was founded in 2002 and had more than 21,000 companies registered in the free zone as of 2022. Benefits of DMCC registration include a top-class business infrastructure for all its investors to grow the business in Dubai and worldwide. It was named Global Free Zone of the year eight times in a row by the Financial Times magazine which makes it one of the most prestigious Free Zones not only in the UAE but globally as well.
Company types that can be set up in the DMCC Free Zone:
- Limited Liability Company
- Branch Company
License Types in the DMCC Free Zone
- Trade License – companies carrying out export/import and buying/selling of commodities.
- Service License – this license covers all kinds of services including IT, education, medical, health, financial, consulting services, etc.
- Industrial License – for companies engaged in manufacturing/production activities
DMCC Free Zone Advantages
- 100% foreign ownership.
- No personal tax.
- 100% capital repatriation.
- UAE corporate bank account.
- Wide range of business activities.
- Ability to obtain Residence Visas and work permits for investors and employees.
- Regular networking opportunities through DMCC events.
- Flexible office solutions including serviced offices, flexi desks, and shared offices.
Procedure of DMCC Company Registration in UAE
Required DMCC company setup documents and incorporation steps:
- The client to provide:
– Company name (3 options);
– Corporate structure (directors, shareholders);
– Activities – some activities require approval of the relevant regulatory authority, e.g. health related activities will require approval of the DHA (Dubai Health Authority), education activities have to be approved by the KHDA (Knowledge and Human Development Authority.
- KYC Procedure (individual shareholder):
– Passport Copy (valid for min 6 months);
– Copy of the passport page with the entry stamp;
– UAE Residence Visa and Emirates ID copies (if applicable);
– Proof of Address (Utility Bill);
– Scan of a 3.5 x 4.5 white background passport type photo;
– Personal details: telephone number, email address, residential address country of residence, parent’s names, marital status, religion.For the corporate shareholder a set of the company’s registration documents should be provided (notarized and attested).
- Forms to be generated and signed by the shareholder(s):
– Authorization Letter;
– E-Signature Undertaking.
- DMCC company registration documents:
– Business License (renewed annually);
– Certificate of Incorporation;
– Articles of Association;
– Office Rental Agreement (valid for 1 year).
Timelines: the total time for registration of a company in the DMCC averages 15 business days.
Once the company is registered, the client can proceed to the registration of visas and the opening of a bank account. It is possible to open a current account for a company either with a bank of the UAE or with a foreign bank. In addition, one of the requirements for the company is the availability of office space. One can rent a virtual office or buy/rent an office in one of the 78 towers of JLT. The minimum office size for one company is 50m2.
The cost of registering a company in DMCC Free Zone depends on a number of factors:
- type of license;
- type of office (physical or virtual);
- number of resident visas – remember that if you choose Flexi Desk virtual office, the firm can expect to receive no more than 3 resident visas, while for the physical office the number of visas allowed is 5 or more.
If you need more information about Dubai Multi Commodities Centre company benefits or need support with DMCC registration process, our business setup consultants will be happy to help.