One of the fastest growing free zones in the UAE is the Dubai Multi Commodities Centre (DMCC). Annually, over 2,000 companies are joining this particular free zone. Companies in the DMCC benefit from having 100% expat ownership in the premier business district in town.
Being close to major centers of commerce also allows companies to accomplish more in the area. As part of the logistics corridor, businesses also have access to more shipping means to reach those across the region. This includes access to Sheikh Zayed Road, New Maktoum International Airport, and the Dubai Marina.
If you really want to set up a working office in the heart of Dubai, or when your business needs real “substance” you go to the DMCC. The Dubai Multi Commodities Centre Free Zone is better known as Jumeirah Lakes Towers (JLT). Here you can easily rent an office space in a luxurious building of any size you want. There are a lot of home delivery shops and restaurants and service providers on phone call away.
The freezone of choice in Dubai is the Jumeirah Lakes Towers Freezone, known as the Dubai Multi Commodities Centre (DMCC).
When you set up your business here you will find yourself in the centre of new Dubai and on a prime location to receive your clients, giving you the ultimate professional image.
The Free Zone is connected to the metro and to the new Dubai tram.
This free zone is very innovative and most services like visa applications and company administration can be done online via a revolutionary members portal.
Having said that, the process of setting up this type of company requires a lot of different steps. Our experience is that the set-up takes a couple of weeks at least. Also, the costs are significantly higher than the other Free Zone options. You will be required to hire an office space or flexidesk and open a bank account and deposit the share capital during that process.
ADVANTAGES OF SETTING UP BUSINESS IN DMCC
- The fastest growing free zone in the United Arab Emirates and GCC
- 100% business ownership for expats and sole shareholders are allowed
- Unique purpose built infrastructure
- The only free zone in which the free zone authorities don't own a majority of the properties. Quality commercial and residential properties with freehold or leasehold option
- Premier location for new business locating to Dubai
- Strategic location on Sheikh Zayed Road, the main arterial connecting Abu Dhabi and Dubai, close proximity to the Dubai Logistics Corridor, which comprises the Jebel Ali Free Zone and ports and Al Maktoum International Airport
- Secure regulated environment with a full range of business activities
- Guaranteed 50-year tax holiday on personal and corporate tax
- 100% capital repatriation
- Seamless and efficient licensing and registration procedure
CHARACTERISTICS
- LEGAL ENTITIES PERMITTED
Dubai Multi Commodities Centre (DMCC) limited liability company, Branch of a foreign Company, and Branch of a UAE Company. - TYPE OF LICENSES ISSUED
Services, Commercial Trading, General Trading. - SHAREHOLDERS
One Shareholder minimum for a DMCC company. A minimum of one director is required and there is maximum of 7. You can be a partner/shareholder in multiple companies. - SHARES
No bearer shares will be allowed. All shares must be fully paid when allocated. No different classes of shares allowed. - SHARE CAPITAL
The minimum share capital for a new Company and Subsidiary is AED 50,000 per company. Branches are exempt from the requirement of additional share capital. Certain activities require a larger share-capital. Minimum par value of each share should be AED 1,000 or multiples thereof. The share capital needs to be deposited in the company bank account within 3 weeks from the date of the trade license being issued. It may be withdrawn immediately thereafter. - DIRECTORS
No corporate directors allowed. - MANAGER
Every company shall have a manager who must also be under the company’s visa. It should be a natural person and his name shall be on license. - RESTRICTIONS ON NAME
Names must end with the word "DMCC" as the case may be. Location names and religious words are prohibited. - PRESENCE
The shareholder has to be physically present either himself or through an attorney at the Free Zone. - AUDIT
The company shall appoint an auditor and file annual accounts as may be requested the authorities. - FACILITIES OFFERED
Office units, Flexi desk, Service desk, Serviced office. - VISA ELIGIBILITY
Employment Visa availability depending on size of office. No Investor Visa Category Available. - GOVERNING LAW
Companies are subjected to the UAE law in general and for some specific functions law of the Emirates of Dubai. - OTHER SERVICES
Driving License and other functions need to be applied from Dubai Government Departments.