Dubai Multi Commodities Centre (DMCC) is a government body founded in 2002 to enhance the trade flow of commodities throughout Dubai. FDi awarded the DMCC Free Zone of the Year on 2015 and 2016.
Setting up a business in DMCC is relatively quick and easy, providing support for various business activities including base steel and metal, precious commodities, soft agricultural products and energy based sectors. DMCC currently houses over 13,000 businesses, including banks, business support companies, and professional services firms.
Setting up a business in DMCC is quite easy. The following are the steps to form a company under the DMCC jurisdiction:
- Agree on the type of license and business activities to be carried out. Familiarise with the required documents and the costs involved in forming the company.
- Complete and submit the online form with the initial payment of application fees. The name of the company will be decided and reserved at this stage after submitting the form.
- Pay the registration and license fees followed by signing the legal documents.
- Decide on a suitable office location
- DMCC will issue an E-License after five working days
The DMCC Company will be able to access a wide range of supplementary services from the Free Zone authorities including global courier services, health insurance schemes, employee compensation and third-party liability, and so forth.
Three types of licenses issued for DMCC Company set up are:
- Industrial License
- Trade License
- Service License
Advantages of DMCC Company Formation
Several benefits of Dubai Multi Commodities Centre (DMCC) Company Set up:
- Easy and Quick DMCC company formation
- 100% foreign ownership, Emirati partner is not required
- The shareholder in multiple firms
- No personal and corporate tax for fifty years (renewable)
- Can perform various activities under one license
- The comprehensive range of business activities are permitted in the DMCC
- Strategic location
- Access to a wide range of commercial properties located within Jumeirah Lake Towers (JLT)