Company Formation in Dubai Multi Commodities Centre (DMCC)

INTRODUCTION

Dubai Multi Commodities (DMCC) is considered to be one of the largest and fastest growing free zones in the UAE. It has facilities, amenities, infrastructures, regulatory frameworks, etc. that are providing the business owners what their businesses need and require. It has been gaining momentum when it comes to domestic economy, and it is expected for it to rise even more with the Dubai Expo 2020.

This means that company formation in DMCC Dubai has been rising over the years, resulting to this Dubai free zone authority to be a huge location, housing a good number of Dubai freezone companies in its helm. With a number of DMCC license activities to choose from, competitive Dubai free zone company registration fees,  a list of free zones that meet their company’s requirements like Jumeirah Lake Towers free zone, and DMCC license types that investors can choose from, DMCC is a huge place that investors can definitely feel at home at.

Company formation in DMCC Dubai, even if it is quite similar to others business setup in Dubai free zones, is done with the zone’s systematic way of processing documents for an easy and effective DMCC company formation for every investor. The procedures are expected by the people to be followed by business owners to ensure a proper way of DMCC business setup and in the right timeframe.

It is not advisable that business setup in Dubai is taken lightly as it is not an easy responsibility. Knowing the dos and don’ts in DMCC free zone, finalizing the final DMCC company set up cost, and ensuring that you are fully aware of the right DMCC license cost—these are not easily accomplished. Besides, you will need a lot of information before you are advised to go forward. This is why business setup consultants DMCC are available for investors to be reached. These people are the reason why business setup in Dubai free zones, like JLT free zone, were successfully done; therefore, they know what they are talking about.

With this, the information that business consultants in Dubai are going to provide you are the ones that you need and even the ones that you think you need. And so, to help you with making decisions and budget planning, these consultants can provide the estimated Dubai free zone license cost and Dubai freezone company setup cost for you to be able to ensure that you are financially prepared before conducting a Dubai freezone company setup. With the help of business setup consultants JLT and in every part of DMCC, you can obtain more information that you need so you can forecast when you are going to be able to regain the amount that you have to spend for the first few months of your operation (such as the above-mentioned DMCC company set up cost, Dubai free zone company formation cost, other costs to be spent as you operate as one of the Dubai freezone companies like JLT freezone companies).

Business setup consultants DMCC are able to answer all questions, such as documents required for trade license renewal in Dubai and DMCC license renewal cost for future reference. It should be noted as well that business setup consultants in Dubai are responsible to take care of your DMCC business setup. Because of this, they are the ones who will ensure that you have the right documents with you, or if you have chosen the correct one among the DMCC license types, or if you need DMCC flexi desk.

It is therefore imperative that you choose the best company formation consultants in Dubai. Your business setup in UAE free zones will lie on the hands of these people so you need to find the right people to be on your team.

BENEFITS

Business formation in Dubai is a well-known activity now in the UAE with the DMCC attracting a huge number of investors to their side. Moreover, there are a lot of business setup consultants JLT as Jumeirah Lake Towers free zone has been rising out of the many free zones of DMCC.

Investors conduct free zone company setup in this zone because of the many advantages that they offer.

100% foreign ownership

Free zones give the biggest advantage since it allows the businessmen to have 100% ownership of their company. It is appreciated by many since local sponsors are needed in the UAE mainlands before one can set up a business. This is why this is a big deal for a lot of people.

Location

The heart of Dubai contains the DMCC Free Zone. It’s only more than an hour away from Abu Dhabi. It is right on Sheikh Zayed Road with two m stations near it—JLT and Nakheel.

Tax exemption

The value-added tax (VAT)’s presence in the country is seen as quite a burden but we should see the positive side of not having to pay income and corporate taxes to the government. It means that we still have tax-free country aside from the VAT.

The DMCC has still a lot to offer to its clients as listed below:

• 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

BUSINESS ACTIVITIES

Before planning to be one of the DMCC companies or JLT freezone companies, it’s important that you are aware what the allowed business activities are. The DMCC license activities are the following:

• Agriculture
• Fishing
• Mining and quarrying
• Manufacturing
• Electricity, gas, and water supply
• Construction
• Trading and repairing
• Hotels and restaurants
• Transport, storage, and communications
• Financial intermediation
• Education
• Health and social work
• Other community, social, and personal service

SUPPORT SERVICE

For more than 30 years, FAR Consulting Middle East has been providing business setup services in Dubai and all over the UAE. We have all the precise information that you are looking for with regard to business setup. One of the information that we can provide is the estimated Dubai free zone company registration fees so that you can be prepared with the amount needed.

Being your company formation consultants in Dubai, we can do the services below for you for your free zone company registration Dubai:

• Applying and following up on behalf of the client until the collection of the Certificate of Business Registration (Trade License)
• Representing the client in front of the authorities
• Assisting the client in bank account opening
• Assisting the client in account opening with the Ministry of Labour
• Assisting the client in account opening with the UAE immigration
• Assisting the client in leasing a premise as an address for the business

TIMELINE/PROCEDURE

The procedure of processing your company formation in DMCC Dubai will range from 2 to 4 weeks.

REQUIREMENTS

Documents Required for Dubai Free Zone Company Registration – DMCC

• Passport copies of the shareholders
• Passport copies and CV (resume) of the manager
• Personal information sheet of each shareholder and manager (template will be forwarded by Farhat Office & Co.)
• Proof of trade name reservation (part of the process, task of Farhat Office & Co.)
• Proof of initial approval of the activities (part of the process, task of Farhat Office & 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) (Farhat Office & 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 cannot appear in front of the local notary, they can appoint us (Farhat Office & Co.) as a legal representative so that we will be able to act on their behalf
• Notarized and attested Power of Attorney appointing Farhat Office & Co. as your legal representative so that they can act on your behalf/on behalf of the shareholders (template will be forwarded by Farhat Office & 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 Farhat Office & Co. can assist you while searching for your physical address. Clients should not enter in any lease contract before we get the initially required approvals.

Additional Requirements Applicable to Corporate Shareholders (Legal Person)

• Board resolution to be resolute by the board of directors for your existing company/entity at the place of origin expressing their intent for establishing a new setup abroad; it must be attested by the UAE Embassy (template will be forwarded by Farhat Office & Co.)
• Certificate of registration or business license or certificate of incorporation of your existing company/entity at the place of origin; it must be attested by the UAE Embassy.
• Memorandum of Association (MOA) of your existing company/entity at the place of origin; it must be attested by the UAE Embassy.
• Article of Association (AOA) (if any) of your existing company/entity at the place of origin; it must be attested and notarized by the UAE Embassy.

Note:

• There are cases that some authorities may require other documents and 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 requirements. If your business requires such pre-approvals and/or permissions, there will be an additional cost and additional professional fee for Farhat Office & Co.

FEES

DMCC license cost:

With the help of your business setup consultants DMCC, the below table shows the estimated Dubai freezone company setup cost in DMCC free zone, which also includes the DMCC license cost (which is more or less the same as Dubai free zone license cost). If need be, you can contact us for further clarification and information.

RELATED SERVICES

Besides our job of helping you with your company setup in Dubai, we have more services that we can offer to help you to start your company:

• Applying and obtaining of work permit
• Drafting of labour contract
• Employment visa and residency services
• Medical check-up (required for the residency services)
• Emirates ID card services
• Driving license services for UAE residents
• Wages, salaries, and WPS services (payroll services)
• Housing and accommodation services
• Relocation services for employees and business owners
• Document notarization and attestation services
• Legal translation services
• Custom account opening services
• VAT registration services
• VAT accounting and filling services
• Accounting and bookkeeping services
• Financial audit services
• Official third-party approvals for regulated business services
• Secretarial and management services
• Legal drafting
• LLC memorandum drafting and attestation
• Lawyer services
• Existing business amendment services
• Trademark registration services
• Will drafting and attestation services

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