DUBAI MULTI COMMODITIES CENTRE FREE ZONE

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As part of the Dubai Multi Commodities Centre, also known as DMCC, the world's no. 1 free zone has exploded with opportunities in the retail and commerce sector. Furthermore, DMCC was designated as the Global Free Zone of the Year for four consecutive years by the Financial Times Magazine..

 

More than 15 thousand companies are housed in this free zone, and another 200 join every month. Therefore, it is an ideal option for entrepreneurs looking for a thriving business destination.

 

The JLT free zone is ideally situated in the heart of the city, with easy access to Sheikh Zayed Road and the Expo 2020 site. This makes it one of the key destinations to establish a successful business and reach its full potential.

 

Since 2002, DMCC has specialized in providing a centralized platform for companies dealing with a variety of products. Furthermore, DMCC has registered the maximum number of companies and listed over 11,000 companies within a short period of time.Trade and commerce in Dubai have benefited greatly from the DMCC free zone.

 

Advantages of setting up your company in DMCC's free zone

DMCC company set up would allow for advancement and success for your business. In addition, company formation in Dubai Multi Commodities Centre free zone provides entrepreneurs with numerous opportunities including the following:

 

  • Simple and quick set up process

  • 100% foreign ownership

  • Strategic location boosting opportunities

  • No personal, income, or corporate taxes

  • Full repatriation of capital and profits

  • International community and collaboration opportunities

  • Numerous networking opportunities

  • Ability to obtain a dual license

  • Convenient process of acquiring approvals, permissions, registration

 

Facilities offered in DMCC free zone

As a result of the ease of setting up a DMCC free zone, employees can be sponsored and other government-related services can be incorporated, which contributes to an affordable property market. The various facilities offered in DMCC free zone include:

  • Commercial and residential towers

  • Offices shell & core, serviced offices,

  • virtual and flexi desks

  • Retail outlets

  • Light manufacturing facilities

Also, multi-storey offices can be leased or bought in the DMCC free zone, including plug-and-play flexi-desks and serviced offices.

 

Licenses offered by DMCC free zone authorities

DMCC free zone offers various licenses including the following:

  • General trading license

  • Service license

  • Industrial license

  • Commercial license

 

Furthermore, entrepreneurs may conduct five activities under the same license in DMCC free zone based on the company, thereby gaining an advantage.

 

The DMCC free zone is also one of the few free zones that allows entrepreneurs to obtain a dual license. Entrepreneurs who wish to expand their business to the mainland or onshore will need to obtain DMCC licensing and mainland licensing in order to qualify for dual licensing.

 

DMCC is also known for being one of two free zones for trading crypto commodities. It is also one of the leading free zones for businesses dealing with rough gold, diamonds and precious stones.

 

DMCC free zone license renewal

It is simple and cost-effective for companies to renew in the DMCC free zone. After the second renewal of your business, you will need to submit an audit report annually.

 

You are required to submit a copy of the signed lease contract for your facility as well as the renewal fee. An advantage of renewing your lease is that it does not require your physical presence in the UAE and can be done through an agent.

 

Business liquidation in DMCC free zone

As with renewal, liquidating a company can also be accomplished through an agent and does not require the physical presence of the owner. You will need to pay the government fee when liquidating a company, which takes approximately a month. and involves the following steps:

  • Cancellation of visas

  • Termination of the lease agreement

  • Closure of bank account