Dubai Multi Commodities Centre Free Zone
The Dubai Multi Commodities Centre Free Zone (DMCC) is the largest free zone in Dubai and it was founded by the government in 2002 with the purpose of providing a trade corridor for diamonds and stones, jewelry and energy commodities through Dubai. Dubai DMCC encompasses today more than 4,000 companies and their number is still growing. The Dubai Multi Commodities Centre’s credit rating is “A”, according to Standard and Poor’s.
Services in the Dubai Multi Commodities Centre Free Zone
The core purpose of establishing the DMCC was to create a premium environment for companies that are involved in commodities services. The DMCC has strict legislation harmonized with international regulations in order to provide world-class business services. The main services foreign companies can benefit from are: a developed infrastructure, financial services and real estate services, as well. Entrepreneurs wanting to start a Company in a Dubai free zone can benefit from registration and licensing services, work and immigration services and a customer care service.
Company registration in the Dubai Multi Commodities Centre Free Zone
Dubai Multi Commodities Centre Free Zone can host limited liability companies and branch offices for foreign and UAE companies. In order to open a limited liability Company or a branch office, the following requirements must be met:
- The start-up capital for a subsidiary or a new Company is 50,000 AED and it must be paid in full three weeks prior to the incorporation and it can be withdrawn right after
- The Company must have at least one shareholder, two up to seven directors who can have any nationality and residency
- Companies can obtain services, commercial trading and general trading licenses
- Companies are required to have a natural person as manager
- Companies must have a registered office
Benefits of companies established in the Dubai Multi Commodities Centre Free Zone
Companies established in the DMCC benefit form:
- Full foreign ownership
- Tax-free repatriation of capital gains and profits
- Exemption for corporate taxation
- Exemption from personal income taxation
- No tax for import and export duties
- The possibility of opening a bank account with a Dubai bank
- The possibility of obtaining residence and work permits for both employees and shareholders
- Own real estate properties in the DMCC
Dubai is a very attractive destination for investors wanting to start new businesses especially in the free zones. If you want to set-up a business, you can contact our experts in Company incorporation in Dubai.