DMCC (Dubai Multi Commodities Centre) Free Zone Company Setup

The DMCC Free Zone (Dubai Multi Commodities Centre) in Jumeirah Lakes Towers is a globally renowned hub for business, trade, and commerce. DMCC provides a dynamic environment with innovative infrastructure, world-class services, and residential, leisure, and retail facilities. This freezone hosts over 24,000+ companies and serves a vibrant community of 90,000 professionals and 100,000 residents and visitors. It is recognised as the 9-time Global Free Zone of the Year award winner by Financial Times magazine. DMCC supports many industries, including precious commodities (gold, diamonds, coloured stones, pearls), energy-related sectors, steel and base metals, and soft agricultural commodities (tea, cotton, and more).

Navigating the intricacies of company registration in the DMCC free zone can be a complex process, but Filings.ae simplifies this process for entrepreneurs and businesses. Offering a streamlined approach to DMCC freezone company formation.

DMCC - Dubai Multi Commodities Centre

DMCC, or Dubai Multi Commodities Centre, was established to foster the growth and development of the commodities market in the region. Situated in the heart of Dubai, it offers a vibrant ecosystem for businesses across various sectors, including trade, commodities, and services. DMCC follows the same licensing framework as the Dubai Department of Economic Development, allowing businesses to choose from over 600 activities across 20 sectors, including Energy, Commodities, Gold and Diamonds, Technology, Construction, FMCG, Healthcare, Aviation, Shipping, Education, and Media, as well as services in Professional, Financial, Personal, and Community fields. With its central location, comprehensive business support, and vibrant community lifestyle, DMCC is not just a freezone but a dynamic place to live, work, and succeed.

Benefits of Setting Up Your Business in DMCC Freezone

Setting up your company in DMCC opens the door to growth and prosperity. The Dubai Multi Commodities Centre free zone is designed to empower entrepreneurs with a host of advantages:

• 100% Foreign Ownership: Business owners can retain complete ownership of their companies without needing a local partner.
• Quick and Efficient Setup: DMCC offers a streamlined, hassle-free setup process, allowing businesses to launch swiftly.
• 100% Capital Repatriation: Businesses can repatriate all profits and capital without restrictions, enhancing financial flexibility.
• Wide Range of Business Licenses: DMCC accommodates various business activities, offering licenses suited to diverse industries.
• Affordable Freehold Commercial Properties: Access to competitively priced commercial properties for sale or lease.
• Flexible Office Solutions: Options include serviced offices, flexi desks, and shared office spaces, catering to different business needs.
• Efficient Immigration and Visa Support: Comprehensive visa and labor services streamline employee onboarding and management.
• Networking Opportunities: Regular events and workshops facilitate business connections and industry knowledge sharing.
• Regulatory Updates: Stay compliant with regular updates on regulations and compliance standards through DMCC resources.
• DMCC Online Portal: An advanced online platform simplifies access to essential business services and administrative tasks.

Business Structure Options in DMCC Freezone

DMCC offers various business structures for companies looking to establish themselves in the free zone. These include:

Free Zone Establishment (FZE)

This structure suits a single shareholder, an individual or a corporate entity. Solo entrepreneurs or small business owners who desire complete control over their businesses prefer an FZE.

Free Zone Limited Liability Company (FZ-LLC)

An FZ-LLC can have one or more shareholders, which can be individuals, corporate entities, or a combination of both. This structure provides flexibility in ownership and management, and each shareholder's liability is limited to their share in the capital.

Branch of a Company

A branch office can be either a branch of a UAE-based company (local branch) or a branch of a foreign company. It operates under the legal identity of its parent company and conducts business within the scope set by the parent.

Types of Licenses in DMCC Free Zone

DMCC Free Zone offers various types of business licenses catering to diverse business activities:

• General Trading License: Ideal for businesses trading a wide variety of goods.
• Professional (Service) License: For companies providing services or consultancy in various professional sectors.
• Industrial License: Tailored for manufacturing or industrial activities.
• Commercial License: Suited for businesses involved in specific trading activities.

Entrepreneurs can conduct up to 5 activities within the same category under one DMCC license, enhancing operational efficiency.

• DMCC is one of the few free zones permitting dual licensing, enabling businesses to expand into the mainland market alongside their operations within the free zone.
• DMCC facilitates crypto commodities trading, positioning itself as a progressive hub for cutting-edge industries.

DMCC is renowned as a prime location for businesses dealing with rough gold, diamonds, and other precious stones. It offers a diverse and specialized environment for such enterprises.

Business Activities Available in DMCC Free Zone, UAE

In the dynamic environment of the DMCC Free Zone, entrepreneurs have a plethora of business activities to choose from, including:

• Crypto Trading: Engage in the burgeoning field of cryptocurrency trading using the crypto license within the secure framework of DMCC.
• Precious Metals and Stones: Conduct business activities involving the trade of precious stones, gold, and diamonds, leveraging DMCC's reputation as a hub for such commodities.
• Petroleum Trading: Explore opportunities in the petroleum trading sector, benefiting from DMCC's strategic location and robust infrastructure.
• Import and Export: Facilitate the import and export of various goods, tapping into DMCC's extensive network and logistical advantages.

These are just a few examples of the diverse range of business activities available in the DMCC Free Zone, providing ample opportunities for entrepreneurs to thrive and expand their ventures.

DMCC Free Zone Facilities for Company Operations

When establishing a company in DMCC, businesses can select from four distinct facility options, each designed to meet various operational needs:

• Flexi-desk Facility: This choice offers just the right amount of office space needed to get started, making it a cost-effective solution for businesses looking to maintain efficiency.
• Serviced Desk or Office: This option is perfect for businesses that prefer a workspace that's ready to go and comes with all the necessary services, eliminating the hassle of day-to-day administrative duties.
• Executive Office in JLT Business Towers: Located in the prestigious JLT business towers, this option provides a distinguished and professional setting for businesses aiming for a more significant footprint.
• Warehouse in JAFZA Free Zone: Tailored for companies in the trade or logistics sectors, leasing a warehouse in the nearby JAFZA freezone grants access to excellent logistics capabilities and global trading prospects.

Documents Required for DMCC Free zone Company Setup

When registering a company in DMCC, ensure you have the following documents ready:

• Completed Online Pre-Approval Application Form.
• Passport copy (include UAE residence visa/Emirates ID if you have one).
• Proof of residential address from your home country (like a utility bill or bank statement).
• Copies of your parent company's documents, if applicable.
• Any third-party approvals are needed for your business activities.
• Proof of office space secured within DMCC (required post-registration)

Procedure for DMCC Free Zone Company Setup

Setting up a company in the DMCC Free zone in Dubai involves a structured process to support various business types and activities, from traditional trading to cutting-edge ventures like crypto commodities trading. Here are the steps to setup a company in DMCC Free Zone, 

Step 1: Choose a Business Activity

The first step is to decide on your company's business activity. DMCC is versatile, accommodating various activities, including trading, services, manufacturing, and, more recently, cryptocurrency-related activities.

Step 2: Select a Legal Entity

Decide on the legal structure of your business, which could be a Free Zone Limited Liability Company, a branch office, or a representative office, depending on your business needs.

Step 3: Reserve a Company Name

Choose a company name that adheres to DMCC’s naming guidelines, ensuring it is unique and not similar to any existing names within the free zone.

Step 4: Apply for a Business License

Depending on your chosen business activity, you must apply for the appropriate license, which could be a trading, service, or industrial license.

Step 5: Submit the Required Documents

Essential documents such as passport copies, proof of address, detailed business plan, Memorandum of Association (MOA), and Articles of Association (AOA) must be submitted.

Step 6: Pay the Necessary Fees

Fees vary depending on the type of license and legal entity chosen. Initial setup costs include the license fee, registration fee, and office space rent.

Step 7: Lease Office Space

DMCC mandates that all companies have office space within the free zone, offering various options from serviced offices to flex-desks.

Step 8: Establishment Card and Visa Processing

After setting up, you'll need to obtain an establishment card and process visas and permits for your employees.

Step 9:Open Bank Account

Opening a corporate bank account is a step in setting up a company in the DMCC Free Zone. Once your business is established and you've obtained your business license, the final step involves opening a corporate bank account.

Seamless DMCC Free zone Company Setup with Filings.ae

Filings.ae offers a streamlined approach to setting up a company in the dynamic DMCC Free Zone, guiding businesses through selecting a suitable business activity, determining the ideal legal structure, and ensuring the company name complies with DMCC regulations. They facilitate the application for the relevant business license and assist in the submission of necessary documentation while also clarifying the fee structure for licenses, registration, and office space. Filings.ae aids in leasing the mandated office space within DMCC and supports the final steps of obtaining an establishment card and managing employee visa processes, ensuring a smooth and compliant setup process for businesses looking to thrive in DMCC.