Dubai Multi Commodities Centre (DMCC)

Introduction

Free zones have been used very well by the authorities in the UAE to attract international investors and expand their business setup in Dubai. These investors know that the expansion of business operations in the UAE allow them to reach other parts of Asia as well. The Dubai Airport Free zone and the Dubai Media city are two of the most famous free zones that have been able to attain the objectives that were set when these two zones were established.

There is, however, a third free zone in Dubai that is the biggest when it comes to the number of Dubai free zone companies that it has been able to accommodate within its boundaries. The Dubai Multi Commodities Center is a free zone that has a huge 12,000 companies working in it. It is the identity of commerce and economy of Dubai and has become and in important not only in the regional but also international trade. The pace at which the free zone is accommodating new businesses every year is also amazing. The benefits being provided to the businesses by the DMCC are the same as the ones being provided by other free zones; however the location, the environment and the business network that it is part of makes it an extremely attractive place for all kinds of business setup in Dubai.

Benefits of DMCC Free Zone

Like all other free zones in Dubai, the DMCC has also been able to provide businesses and investors with unmatched incentives and opportunities that are not found anywhere else. Some of the incentives for Dubai free zone companies can be seen below:

  1. Imports and exports are free from any duties.
  2. There are no taxes levied by the government on companies in the DMCC.
  3. The business environment of DMCC is unmatched due to the size and knowledge spillover that is benefiting all other businesses.
  4. The local sponsor requirement is not obligatory for the businesses setup in the DMCC.
  5. Business friendly policies have been drawn up by the government which has made the DMCC so attractive.
  6. Customized and predesigned office places are provided to businesses and investors.

Types of Trade Licenses in DMCC

There are three types of licenses that companies in the Dubai free zone can get from the authorities. The professional license, also known as the services license allows companies to provide specialized services to its clients.

A trade license on the other hand allows Dubai free zone companies to sell, distribute, store and market a product. Exporting and importing is also possible for a business which has obtained a trade license.

The third type of license is the commercial license and it allows the companies to perform activities mentioned on the license only.

Documents required for Branch Office in DMCC

These are the documents required for setting up a branch office in the free zone:

  1. Signed application form for branch office must be submitted.
  2. Manager’s appointment letter issued by the parent company for the branch office must be provided.
  3. Memorandum of Association (MoA) must be attested by relevant authorities in the country of origin and be provided for opening of branch office.
  4. Certificate of registration is required to be submitted.
  5. Copy of the passports of manager, shareholders and directors are required.
  6. Copy of power of attorney for the manager given by the parent company must be provided.
  7. Business plan for the DMCC company must be submitted.

Documents required for branch office in free zone

The following documents are required for free zone branch office setup:

  1. Application forms signed by relevant authorities.
  2. Attested memorandum of Association and Articles of Association of the parent company.
  3. Manager’s appointment letter issued by the parent company is required.
  4. Copy of passports of the director, manager, secretary and specimen signature.
  5. Copy of power of attorney for the manger must also be provided.
  6. A business plan is required for company formation in the DMCC.

Documents required for individual shareholder

  1. Address confirmation is required through utility bill or telephone bill.
  2. Copy of passport of shareholder with a minimum of 6 months validity.
  3. Copy of passports of the director, manager and shareholder are required.
  4. Copy of Power of Attorney for the manager.
  5. Personal details of the shareholder must be confirmed through the documents provided.
  6. Application form must be signed by the relevant authority in the company.
  7. Letter of Bank share capital must be provided.
  8. Business plan must be submitted in the DMCC.

Documents required for corporate shareholder

  1. Application forms signed by relevant authorities.
  2. Signature of authority is required on the application form.
  3. For company registration in the DMCC, business plan submission is mandatory.
  4. Copy of passports of the director, manager and shareholder are required.
  5. Copy of Power of Attorney for the manager or other people authorized.
  6. Certificate of registration or incorporation is required to be submitted.
  7. Resolution of board for incorporation of brand or subsidiary office must be submitted.
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