DMCC (Dubai Multi Commodities Center) was founded in 2002 for commodity trading companies. To register a commercial firm in DMCC FZ considers such possibilities: 100% business ownership, 50-year tax exemption, full ownership of real estate.
Prospects of forming DMCC FZ:
- No taxes;
- Full ownership of firms;
- An opportunity to obtain title to sell, rent in DMCC;
- Affordable quality offices, residential apartments;
- All-inclusive amenities and excellent infrastructure;
- Most influential business community in Dubai;
DMCC was named Financial Times FDi Magazine 2015 Global FZe. This annual review is the most important FZ ranking in the world.
The ranking criteria are based on standards, such as an outstanding performance, expansion plans, a prevalence of fast-growing industries.
If you have any questions related to the establishment of companies in United Arab Emirates, you can discuss them with the specialists by receiving advice on registering a business in DMCC FZ.
Geographically, DMCC FZ occupies a territory of Jumeirah Lake Towers area. DMCC provides easy access to Sheikh Zayed Road, Jebel Ali Port, DWC Airport. FZ also has in its “arsenal” 2 subways.
DMCC regulations in FZ
You have an almost unlimited radius of action from trading to consulting in DMCC. Licenses for DMCC FZ are in line with a structure of the Department of Economic Development. DMCC FZ company can have up to 6 activities in one license. To make sure that your business can be licensed as a DMCC Free Zone company ask for advice from specialists.
DMCC FZ firm capital requirements:
The min share capital requirement for the new company DMCC FZ is 11938 EUR, the min number of share capital for each shareholder must be at least 10000 dirhams (2424 EUR). A subsidiary is exempt from capital requirements.
Having received the necessary permissions, you must transfer the amount of money depending on the type of activity of your company to your company’s bank account within 30 days. To confirm this operation, you should remember the confirmation letter, that you must send to the DMCC office.
For more information, you can get in touch with specialists and request for individual advice on registering a company in United Arab Emirates.
DMCC FZ annual audit
The audit should be conducted annually. Upon completion of the registration of firms, it is necessary to appoint an audit firm. A commercial enterprise will prepare a report at the end of the year. The cost of financial statements is directly based on the company's turnover. A min cost is from 2865 EUR per year.
To obtain visas in DMCC FZ
You can get visa permits in Dubai depending on the rented premises. For an area of 10 m2 you are granted only 1 visa. The minimum office area is 50 m2.
Only with flexi-desk (separate workstation) the client receives 3 visas. Permission to enter and after is visa processing.
If the CEO is not an investor of a firm, in order to obtain a visa in Dubai, it is necessary to provide a diploma, he must be certified according to requirements of the UAE authorities.
Required documents for starting commercial practice in Dubai:
- A copy of a passport with a stamp on entry into the UAE (if the client had previously traveled to the UAE);
- A certified copy of the utility bill of the country of origin;
- 6 passport-size photographs (3x4) on a white background;
- CV (short biography);
For corporate shareholders:
- A registration certificate;
- Memorandum and Articles of Association;
- A certificate of legal status and financial status;
- Copies of passports of all shareholders;
- Board decision (prepared by us);
All documents for a corporate shareholder must be translated and certified by a notary public, certified by the Ministry and then certified by the UAE Embassy in the country of origin. If the visa is intended for the shareholder, the documents are distributed as an individual, if the visa is intended for the company manager (in this case, the manager, if the manager is different from the shareholder), the manager must provide a diploma (if there is no diploma, it can only be an investor) is duly legalized in the UAE embassy.
- A copy of passport (together with a residence visa in the UAE and a copy of the emirates identity card, if any);
- A confirmation of the address of residence in the host country (i.e. a copy of the utility bill);
- KYC form for shareholders and appointed officers (form submitted);
Approval usually takes 7-10 business days from the date all documents are properly uploaded and processed for prior approval. After approval, shareholders must schedule a meeting in order to personally sign the registration documents in DMCC office. All founders of the firm must be present in Dubai to sign the charter in DMCC Administration.
If you still have questions regarding the above points, then get in touch with the experts and ask for assistance in opening a company in Dubai Multi Commodities Center.
Registration requirements for DMCC:
- Copies of the signature form for each shareholder/director/manager/secretary/legal representative must be signed at our office or notarized;
- Passports of all participants. All the above representatives with a UAE visa must be provided to the head of the DMCC in our office or notarized;
- The decision of shareholders must be signed at our office or notarized;
- MOA (Memorandum of Association) must be signed at our office or notarized;
- Submission of a letter of commitment Undertaking letter (a written obligation to deposit the authorized capital in the bank) in accordance with the requirements of DMCC.
If you want to learn more about the regulation of activities, related to the establishment of commercial organizations in Dubai, then you can clarify this question with the experts.
When all documents are prepared and signed, the registration process usually takes 3-4 days.
Upon completion of registration, DMCC will issue a preliminary letter of approval (for office rental) and a bank letter (for opening a bank account in UAE). After you have rented an office, to issue a final license you must:
The initial valid agreement on the rental of real estate, with a license validity period of one year (the name of the tenant, the name of the company, the area of the leased premises and the full address must be indicated)
An ownership certificate, or title document (originals must be provided), or a valid document indicating the date of acquisition of ownership (must be submitted).
DMCC Flexi Desk Office Contract
After the lease documents are submitted, registration of the license and other legal documents of the company will take 3-4 business days.
The minimum required share capital is 50,000 AED (11955 EUR).
* The EUR rate is approximate, converted from local currency rates (AED).
How to open a company in UAE?
If you plan to open a business in the UAE, then you can turn to specialists and ask for assistance in setting up a company in DMCC.
To find out more, contact YB Case at the phone numbers listed on the website or fill out a special form.