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Business Setup In Dubai Multi Commodities Centre DMCC

Dubai is equidistant from Europe, Africa and Asia, positioning it as a prime business destination for a variety of sectors. Its domestic economy has gained momentum over the last few years, while the successful Dubai Expo 2020 bid will accelerate inward and increase foreign direct investment.

Within this vibrant and progressive city is DMCC, the largest and fastest growing Free Zone in the region and recognized as a major player in the global commodities markets. With DMCC’s prime location, legal and regulatory frameworks, industry clusters, flexible office solutions, freehold property and dependable customer support, we provide you with the right tools and innovative platforms to succeed in the world’s most exciting growth markets.
 

DMCC offers a well regulated environment with the following benefits:

  • 0% corporate and personal income tax rate guaranteed for 50 years
  • 100% business ownership
  • 100% capital repatriation
  • Licenses for a full range of business activities
  • Freehold offices for sale and lease at competitive rates
  • Flexible office solutions including 'plug and play'
  • Immigration services including visas and other government permits
  • Regular networking opportunities through DMCC industry events, sector specific clubs and informative workshops
  • Training on the latest developments in trade regulation and compliance standards

Company Setup Process

1: Decide on the company type

Types of companies eligible for a license:

  • Limited liability company as a newly formed entity with single or multiple shareholders 
  • Limited liability company as a wholly owned subsidiary of local or foreign company
  • Branch of local or foreign company

2: Agree on the business activities according to your business plan

Each company is issued a license depending on their business activity. While the license will be specific to the selected activities, a company can also apply for multiple licenses or for a general trading license. We offer three types of licenses:

  • Trading - Service – Industrial

3: Consider additional customized license structures

DMCC also offer other types of structures such as Single Family Office which caters to centralizing the management of a family’s wealth and personal affairs, succession planning and holding shares in family businesses, assets, trusts and foundations. Additionally, you can avail of an e-commerce license structure which enables you to set up an online platform or a digital marketplace which promotes third parties’ products and services and facilitates commercial transactions between buyers and sellers in return for a commission or remuneration.

4: Choose a company name

Share capital requirements

  • The minimum share capital for a DMCC Free Zone company is AED 50,000 per company and AED 10,000 per shareholder
  • The share capital needs to be deposited in the company’s local bank account within three weeks from the issue date of the company’s license. It can be withdrawn anytime thereafter
  • Branches of companies do not have a share capital requirement
Remarks : all contents above mentioned was copied from its original source http://www.dmcc.ae/
 

Documents Required for Dubai Multi Commodities Centre DMCC Company Formation

  • Passport Copies for the shareholders.
  • Passport copies and C.V. (Resume) for the Manager.
  • Personal Information sheet for each shareholder and manager (Template will be forwarded by Farahat & Co).
  • Proof of trade name reservation (Part of the process – task of Farahat & Co).
  • Proof of initial approval for the activities (Part of the process – task of Farahat & Co.
  • Proof of residential address (e.g. utility bill copy)
  • Summary of business plan, if applicable
  • Notarized Memorandum of Association (MOA), Article of Association (AOA) (Farahat & Co will draft it for you, and will assist you in order to get them notarized by a local notary Public). In case the shareholders can not appear in front of the local notary , they can appoint us ( Farahat & Co ) as a legal representative so that we will be able to act on their behalf
  • Notarized and attested Power of Attorney appointing Farahat & Co as your legal representative so that they can act on your behalf/ on behalf of the shareholders. (Template will be forwarded by Farahat & Co).
  • Lease agreement (a document). Showing a physical address for your new business. Having a physical address is mandatory for onshore business in the UAE. The minimum space required is 550 sq. ft. (around 60 sq. m). Your registration agent Farahat & Co can assist you while searching for your physical address. Clients should not enter in any lease contract before we get the initial required approvals

Additional requirement applicable for corporate shareholders (Legal Pearson)

  • Board resolution to be resolute by the board of directors for your existing company/ entity at place of origin expressing their intent for establishing a new setup abroad.  Must be attested by the U.A.E embassy. (Template will be forwarded by Farahat & Co)
  • Certificate of registration or   Business license or Certificate of Incorporation for your existing company/ entity at place of origin, must attested by the U.A.E embassy.
  • Memorandum of Association (MOA) for your existing company/ entity at place of origin.  Must be attested by the U.A.E embassy.
  • Article of Association (AOA) – IF ANY - for your existing company/ entity at place of origin must be attested and notarized by the U.A.E embassy.

Note:

  • there are cases may require documents and other requirements
  • In some  business  activities ,  such as : Health Care , law firm, Education Training ,Transportation, Construction and contracting, Engineering consulting,….. Etc. , no objection and permission will be required as mandatory requirement. If your business requires such pre approvals and or permissions, there will be an additional cost and additional professional fee for Farahat & Co.

Setup in UAE-Dubai Multi Commodities Centre DMCC
Table of estimated government cost & professional fees
Trade License option / activity Cost in US$ Cost in AED
Industrial License US$ 2,570 AED 9,375
Commercial License
Specific Trading US$ 2,570 AED 9,375
Oil & Gas US$ 3,425 AED 12,500
Real Estate US$ 5,135 AED 18,750
Aviation US$ 5,135 AED 18,750
General Trading License US$ 5,135 AED 18,750
Service License
Specific Services US$ 2,570 AED 9,375
Oil & Gas US$ 3,425 AED 12,500
Freight Forwarding US$ 2,910 AED 10,625
Real Estate US$ 5,135 AED 18,750
Aviation US$ 5,135 AED 18,750
Our Firm Professional Fees US$ 5,000 AED 18,365
 
ATTENTION - NOTE
The exact government cost will be determined by the concerned authority at the time of applying. There might be additional requirement during the process.
Our Professional fees covers consultation sessions, drafting of legal documents in English and Arabic, introducing reliable local citizen service-agent when required, supporting indocuments Notarization from the local notary public, assisting in bank account opening,and applying to the Concern authorities on your behalf.
 

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