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izrar ulhaq

izrar ulhaq

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DMCC business setup: Free zones have been used very well by the authorities in the UAE to attract international investors and expand their business setup in Dubai. These investors know that the expansion of business operations in the UAE allow them to reach other parts of Asia as well. The Dubai Airport Free zone and the Dubai Media city are two of the most famous free zones that have been able to attain the objectives that were set when these two zones were established.

DMCC or ‘Dubai Multi Commodities Center’ was set up in 2002 as a strategic initiative from the Government of Dubai to build a physical marketplace for Commodities in the UAE. Since then, DMCC has expanded its industrial outlook, adding to its portfolio a total of 20 independent sectors divided into over 900 unique business activities. In last 5 years, DMCC has attracted key players through its value chain of commodity sectors, particularly the Gold Market which now accounts for approximately 25% of the world’s annual gold trade. In its recent efforts to bolster bilateral trade relations with world’s rising economies, the DMCC signed an agreement with China’s Royal Fund Investments (RFI) to strengthen its growing Chinese business community in the Dubai.

There is, however, a third free zone in Dubai that is the biggest when it comes to the number of Dubai free zone companies that it has been able to accommodate within its boundaries. The Dubai Multi Commodities Center is a free zone that has a huge 12,000 companies working in it. It is the identity of commerce and economy of Dubai and has become and in important not only in the regional but also international trade. The pace at which the free zone is accommodating new businesses every year is also amazing. The benefits being provided to the businesses by the DMCC are the same as the ones being provided by other free zones; however the location, the environment and the business network that it is part of makes it an extremely attractive place for all kinds of business setup in Dubai.

Benefits of DMCC Free Zone

Like all other free zones in Dubai, the DMCC free zone has also been able to provide businesses and investors with unmatched incentives and opportunities that are not found anywhere else. Some of the incentives for Dubai free zone companies can be seen below:

Imports and exports are free from any duties.
There are no taxes levied by the government on companies in the DMCC.
The business environment of DMCC is unmatched due to the size and knowledge spillover that is benefiting all other businesses.
The local sponsor requirement is not obligatory for the businesses setup in the DMCC.
Business friendly policies have been drawn up by the government which has made the DMCC so attractive.
Customized and predesigned office places are provided to businesses and investors.

Types of Trade Licenses in DMCC

There are three types of licenses that companies in the Dubai south free zone can get from the authorities. The professional license, also known as the services license allows companies to provide specialized services to its clients.

A trade license on the other hand allows Dubai free zone companies to sell, distribute, store and market a product. Exporting and importing is also possible for a business which has obtained a trade license.

The third type of license is the commercial license and it allows the companies to perform activities mentioned on the license only.

Why Start a Business in the DMCC Free Zone?

We are the business setup consultants in Dubai The company registration procedure in this free zone takes seven working days and can be completed online. The strategic location adds to the set of advantages that DMCC offers. This free zone is located right at the heart of Emirate near the Jumeirah Lake Towers district. It offers various facilities such as office spaces and warehouses, depending on the need of the company. it is crowned four times as a ‘Global Free Zone of the Year’ by the Financial Times Magazine, it is home to a vibrant community, innovative infrastructure, world-class services, and stunning choice of properties, all minutes from the excellent sea, air, and road links of the world.

Here are a few more advantages you can get if you set up a company in DMCC free zone.

Zero corporate tax and personal tax for 50 years
Immigration services including visas and other permits
100% foreign ownership
Licenses for a full range of activities
Purpose-built infrastructure

If you are excited to do a DMCC company formation, then we can help you with it. We provide a range of business setup services for entrepreneurs like you. Contact us today to know more.

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