Dubai Multi Commodities Centre (DMCC) is not only the best free zone in Dubai and UAE, but it has been declared as the best free zone in the whole world. The reason behind achieving this status is the opportunities and advantages available to various businesses. Apart from providing other free zone benefits, DMCC also provides several specific advantages to companies. DMCC was the first free zone in UAE that offered freehold business premises.
Naturally, no sane investor or entrepreneur would like to miss the opportunity to open his/her business in world’s best free zone. As the name suggests, DMCC mainly deals with businesses related to commodities. Generally, DMCC provides import, manufacturing and re-export facilities to companies and traders related to soft agriculture (agro, tea, coffee and spices), precious metals (gold, diamond, pearls and colored stones), base metals & steel and energy sector.
But DMCC is not limited to commodities sector. Previously, there was JLT license available for businesses related to non-commodities sector in DMCC. But since 2014, all types of businesses are registered under DMCC license. There are more than 600 business activities under 20 sectors that are allowed in this specific free zone. Apart from the above mentioned sectors, you can also start business in DMCC in sectors like healthcare, FMCG, construction, education, media, aviation, shipping and others.
There are mainly three types of licenses available in DMCC according to the type of business activity.
- Trade license (for trading activities)
- Service license (to carry out service activities)
- Industrial license (for light manufacturing activities)
Generally it is not allowed to conduct trading and service activity on a single license. These activities can only be conducted under their respective licenses. Up to 6 business activities per license is allowed. It is possible to get two separate licenses under one company name in rare circumstances.
There are 3 main steps for registration of a new company in DMCC.
- Initially, the interested party will submit online application after completing the form and paying fee of AED 1,015. DMCC will complete company name reservation and approval application within 7 working days
- In the next step, you will submit all the required documents and pay registration and license fee. This process will be completed after 5 working days
- In the last step, you will submit required documents for new office space. DMCC will issue e-license after 5 working days. This will allow you to start business in DMCC
Following are the types of documents that will be required during different stages of application process.
- Online application form
- Copy of passport, UAE residence visa and Emirates’ ID
- NOC (no objection certificate) from sponsor (in case of valid UAE residence visa)
- Summary of business plan
- Third party approvals (for specific business activities)
- Office address in DMCC free zone
- Proof of residential address (utility bill or invoice) in country of residence
- Copies of parent company’s documents ( only in case of setting up a subsidiary)
Completing this whole process successfully is not an extremely difficult task. But it may prove problematic for new companies and they may commit mistakes in the process. This will not only delay the company registration process but may also result in spending extra capital. In this case, you will face financial and mental nuisance while going through this process.
The simplest and hassle-free way to open your company in world’s best free zone is by taking services of one of the Dubai’s best consultancy firms, Riz & Mona Consultancy. We will relieve you from all types of hurdles and worries of the process and you will be able to open your business in DMCC free zone within few days. We provide these services on competitive rates. You can contact us via our WhatsApp # 971-56-9971225 or email address [email protected]