Dubai Multi Commodities City (DMCC) is undoubtedly the world’s best free zone after claiming this position several times. The reason behind this status is the continuous support that this free zone provides to its clients along with major improvements it has brought in it’s functioning with the passage of time.
DMCC free zone mainly attracts traders who can sell their products outside UAE all over the world. For this purpose, they signed several agreements with international organizations and relevant companies and departments in different parts of the world. Becoming part of this free zone will allow a company to trade its products all over the world with ease, primarily due to high standing and reputation across the globe.
It means if you are a trader of selective commodities (especially agriculture, spices, metals, etc.) that are largely supported by DMCC, then you can easily export your commodities in a country of your choice and earn handsome profit just by setting up your business here.
DMCC Company Set Up Cost
An important thing for business setup in DMCC is its cost. License type and office type are the two main factors that determine the cost of setting up your business. Here below, we described it in detail:
DMCC License Type
Before starting your business in DMCC Dubai, the first thing you need to consider is getting the right type of license for company formation. There are three types of licenses available for company formation. DMCC license activities are different for different types of licenses. It means its cost is also dissimilar for various licenses.
- Commercial License
- Service License
- General Trading License
All these licenses are required for different types of business activities. General trading license is the most famous license as it allows trading of a large number of commodities. This makes the general trading license more expensive as compared to commercial license and service license.
The holders of general trading license are required to pay a higher registration fee (paid once) and license fee (paid annually) as compared to the same fee for other licenses (commercial or service). So in general, the overall fee for a general trading license is higher as compared to other licenses in DMCC.
DMCC Office Type
Another important factor that also determines the cost of company formation in DMCC is choosing the type of office for your company. You will get the following office options:
- One JLT: This energy-efficient commercial space is available on lease.
- Flexi-desk: This is available on a part-time basis and provides a full-time physical address.
- Serviced Desk: This is for full-time staff
- Serviced Offices: These fully furnished offices can accommodate two to three persons.
You can choose any of these office spaces according to your requirement. We can easily understand that Flexi-desk cost is comparatively cheaper as compared to the serviced desk and serviced offices. Flexi-desk is not available for a general trading license.
Another important thing to consider is the minimum share capital. Generally, it is AED 50,000 while minimum share capital for each shareholder must not be less than AED 10,000.
You may need to bear additional cost for other direct and indirect factors. If you are willing to get different types of visa, then your DMCC company set up cost will change. For instance, you may need to pay extra charges as DMCC dependent visa fees if you want to sponsor your family. Your cost may also be affected by other things like the type of business you select, type of consultancy you choose for business setup, etc.
For complete information and practical assistance in assuring paying the appropriate cost for your business setup in DMCC, you can contact RIZ & MONA Consultancy. Taking our services will allow you to set up your business successfully at minimum possible cost.