There are many advantages to establishing a business in a free zone with over 15000 enterprises operating here, Dubai Multi Commodities Centre (DMCC) is the perfect business hub for Dubai and the UAE.; however, there is a greater advantage you obtain when you explicitly establish a firm in DMCC. The Dubai Government created the DMCC as a strategic initiative to create a market and the required physical and financial infrastructure to support a vibrant commodities market.
The DMCC Free Zone is the best location for a speedy company setup and expansion beyond Dubai. In the upcoming years, the DMCC management is completely committed to scaling new heights by establishing initiatives like the Expo 2020 Tower, which will be one of the biggest commercial buildings in the area.
A DMCC corporation is a business entity created in accordance with DMCC policies. With the exception of branches, DMCC companies are governed by their own Memorandum and Articles of Association and are only permitted to engage in commercial activities for which they have obtained a current Commercial Licence from DMCC. Except for Branch companies, which are required to have no owners and no share capital, every DMCC firm must have at least one shareholder and a minimum prescribed share capital.
Why open a company in the DMCC?
DMCC has won the Financial Times fDi magazine’s “Global Free Zone of the Year” Award seven times! Why not establish your company in DMCC, the top free zone in the world and the hub of global commodities trade, rather than any other free zone in Dubai? DMCC is one of the best locations in Dubai for setting up a free zone firm, and it appeals to business owners all over the world. And there are countless others! Smack dab in the middle of the Jumeirah Lakes Towers district, DMCC offers everything one might possibly need to live, work, and thrive in the city of the future.
The majority of procedures are in English and bilingual (English/Arabic) company documentation and there is noticeably less red tape in DMCC free zone company creation, among other factors that influence why entrepreneurs pick DMCC for their dream firm. DMCC is the best option if a speedy business setup is crucial to you since you can form a company here in as little as one week. DMCC is the place to be if you want to make your business meet the world while hitting the ball out of the park. It is home to more than 20,000 enterprises, including brokers, banks, commodities exchanges, business support organizations, and professional services firms.
Benefits of starting a Business in the Free zone of DMCC
With a free zone firm, the world is already your oyster, and if it’s DMCC, you’ve struck gold! More than 20,000 companies from many industries and sectors, including agricultural, energy, financial services, diamonds, gold, and basic metals, call DMCC home. The causes are all “benefits,” too! The DMCC landscape is decked out with a ton of opportunities to help you expand and push your business to new levels, giving you the full nine yards. Before deciding to establish a corporation in DMCC, it is crucial to fully comprehend your alternatives. The most well-liked free zone in Dubai, the United Arab Emirates among entrepreneurs, DMCC is home to top-notch amenities and infrastructure, and it’s simple to understand why.
Business Creation in DMCC
Company formation in the DMCC is very advantageous for investors since it allows them to launch a business in one of the most dynamic cities in the world, have quick access to Dubai’s extensive business network, market new goods and services to a rising ex-pat community, and more. Some of the benefits of starting a company in DMCC are listed below.
- 100% ownership of the enterprise, same as in other free zones
- Allowed are sole shareholders
- Licenses for the full spectrum of commercial activity
- No entrance restrictions or foreign exchange controls
- Exceptional Global Center Industry Clustering
- Prestigious and significant global business location
- Streamlined licensing and registration process
- Built-for-purpose infrastructure
- Freehold offices are offered for sale and lease at affordable prices. Flexible office options for rent, hire, or leasing that meet whatever space needs a company set up in the DMCC may have
- 50-year guaranteed tax holiday for both individuals and businesses
- 100% capital repatriation and no restrictions on foreign exchange or entry
- Immigration services, including those for visas and other official Authorities
- Strategic location near the biggest cargo port outside of Asia and on Sheikh Zayed Road, which connects Abu Dhabi and Dubai
- You will have regular opportunities for networking at DMCC industry events, in sector-specific clubs, and at educational courses that can help you expand your firm.
Jumeirah Lakes Towers is based on a wide range of amenities, including offices, residences, a metro station, convenient access to other forms of public transportation, and shopping malls.
Despite the area’s size, it is simple to travel because JLT is split up into Clusters. While some clusters have access to the Lake, others face Sheikh Zayed Road. Both employers and employees may work and remain in a safe and healthy atmosphere due to the secure environment and simple access to various services, such as the metro, sporting venues, and shops.
The best aspect of DMCC is the availability of office space for lease and ownership in Dubai. Businesses that want to target both the domestic and international markets should consider this.
DMCC will be the best option if you are thinking about opening an office with a free zone company. If you want a place to work for a few hours but don’t require an office, you can rent a shared office or a flex desk.
Getting homes in Dubai is a benefit of having people as shareholders. The right to obtain residency permits extends to both employers and employees. As a result of the government’s assistance with immigration, the visa application process is substantially quicker. Additional employee visas will need the appropriate office space.
Dubai business formation has never been easy. But if all the requirements are met and the guidelines are strictly followed, it can be done without any problems. Masar Al Ameen Company is a well-known business setup consultant in Dubai. They have a group of professionals that are qualified and have helped build many companies in Dubai. For completing all legal processes in starting the business, they offer the best and most reliable solutions.