Dubai is an global mix city in the center of UAE; and is also the financial hub in all over the Middle East. The economic strategy of the Dubai gov’t has led to a number of free trade zone; that is spreading in all over Dubai. These Free trade zone offer a lot of benefits for business setup in Dubai free zone. For those who are searching for DMCC company formation; they will get several advantages; such as 100 % ownership, 0% tax on business as well as absolute autonomy in terms of business operations.
The DMCC free zone is a well thought scheme of the Dubai Gov’t; to offer a market place and need a physical as well as financial road and rail network; that is to run a booming commodities market place. The DMCC free zone was made in the year 2002; since then has remained the leading free zone in all over the UAE. Around 20000 firm work in the DMCC free zone.
DMCC free trade zone also famous as DMCC; it is a free economic zone recognize by the gov’t of Dubai in 1985. And it is also Known as the world’s biggest free zone; DMCC is a place where you will be successful and new firm can raise at a speedy pace.
Company formation in DMCC Dubai free zone is comparatively easy; and must be strongly measured by the investors searching to spread out in the Middle East.
Types of DMCC company formation
1: Branch Company
A branch company formation in DMCC free zone is best for firms which already work in regions outside of Dubai. This is considered an officially authorized entity of the parent company; as well as operates under the same name while benefiting from the environment of Dubai and need no share capital.
2: Free Zone Establishment (FZE)
Only one partner is needed to setup this type of a DMCC company formation. An FZE operates in a comparable fashion to an LLC. It has a legal difference from the shareholder and all of the rights of a natural person. It does not need any extra shareholders; however, a minimum of AED 100,000 is mandatory.
3: Free Zone Company (FZCO)
Various shareholders can put their labors together to set up a Free Zone Company in DMCC. A DMCC free zone company formation is an LLC partnership; with the liabilities of the company partial to the capital which has been paid.
Two to 50 members or companies can start a Free Zone Company or a partnership. For a DMCC company formation a minimum of AED 100,000 is essential to register an FZCO in DMCC.
Company formation in DMCC free zone
Here are five easy steps to do DMCC company formation
Step1. Decide on which company type you want to operate
LLC DMCC company formation as a recently formed entity with various shareholders
Branch of a local / overseas company
Limited liability Company as a completely owned subsidiary.
If you are not clear about the company types, then ask for business consultants in DMCC; who will assist you identify the ideal kind of company type for your business.
Step 2. What are the business activities that you want to operate on
As a potential entrepreneur or a seasoned industrialist; this is an important stage for you as your business activity is going to be your bread and butter.
There are three options largely Service, Trading and Industrial
The DMCC business licensing process is different for each and every activity, so prefer appropriately.
Step 3. Additional DMCC business licenses
There are options to apply for other licenses if they are valid to your business activity
DMCC free zone also present other types of structures; such as Single Family Office that caters to centralizing the administration of a family’s capital and their personal affairs; series of planning and holding shares in family businesses; trusts and assets as well as foundations. Furthermore, you can get an e commerce license in UAE; that make you capable to register an online business in Dubai; or a digital souk that promotes third party products and services; or offer transactions between the traders in shape of buyers as well as sellers in return they get commission.
Step 4. Choosing a name for your DMCC company formation
This is very much essential as it reflects the characteristics of your company. There are some rule about choosing a name for your company; for example, your company’s name must be directly involving to your business activity; it must not have been already taken by some other business entity etc. So take plenty of time to pick an appropriate name.
Step 5. Applying for company registration
The company registration and licensing the process is easy, swift as well as simple. It can b initiate with the submission of your duly filled application form along with other supporting documents. Following this, a pre-approval is required from the DMCC; the company is registered as well as licenses are obtained after it.
Types Of Licenses Available In Dubai Multi Commodities Center
a variety of licenses are compulsory for Company setup in DMCC free zone; and there are quite a lot of available, base on the nature of organization. The required licenses for Company formation in DMCC free zone are as under:
1: Trade License
A trade license is essential for an aspirant investor who plans on importing and exporting or distributing product lines.
2: Service License
A service license grants the right to manage a specific service business in the Dubai Multi Commodities Centre.
3: Industrial License
An industrial license is mandatory to perform industrial activities such as manufacturing, packaging, assembling as well as exporting finished goods.
Documents Required for DMCC free zone
Passport copies of the all shareholders
Passport copies and CV (resume) of the manager
Personal information sheet of all shareholder and manager (template will be forwarded by Our firm)
Evidence of trade name reservation (part of the process, task of Our firm)
Proof of first approval of the activities (part of the process, task of Our firm)
Proof of residential address (e.g., utility bill copy)
Summary of business plan (if applicable)
MOA and AOA (Our firm will sketch it for you and will also help you; in order to get them notarize from a local notary public); in case the partner can not appear before of the local notary; then they can assign us (Our firm) as a legal agent; so that we will be able to proceed on their behalf
Notarized as well as attested Power of Attorney appointing Our firm as your legal envoy; so that they can take action on your behalf ; (Our firm will also give you a template for this)
Lease agreement (a document) showing a physical address for your fresh business; having a physical address is compulsory for onshore business in the UAE. The minimum space compulsory is 550 sq. ft. (around 60 sq. m). Our firm can help you while looking for your physical address. Customers must not enter in any lease contract earlier than we acquire the initially required approvals.
For a corporate Share holders (Legal Person)
We need a board resolution for your existing entity at the place of origin; which show their goal for open new company in Dubai; And you need to attest this from the UAE Embassy (Our firm will also give you a template for this)
A license copy of your existing company / entity at the place of origin; and you also need to attest this from the UAE Embassy.
MOA of your existing company / entity at the place of origin; and you also need to attest this from the UAE Embassy.
Article of Association (AOA) (if any) of your existing company at the place of origin; and you also need to attest this from the UAE Embassy.
There are cases that some authorities may need other documents and requirements
In some activities, such as health care, education training, law firm a transport; construction as well as engineering consulting etc; for such a activity there is no extra permission required. If your business requires such pre approvals and / or permissions; then there will be an extra cost and further professional fee for Our firm.
About DMCC Free Zone Company Setup cost:
Company formation in DMCC free zone starts from 50,000 AED (32,500 license and 17,500 Flexi desks).
Benefits Of DMCC free zone company formation
DMCC free zone Company formation certainly comes with a large number of benefits; thanks to the opening of free zones like DMCC.
Following are some of the foremost benefits that come with Company formation in DMCC free zone:
Companies working under DMCC enjoy 100% overseas ownership and 100% repatriation on investment as well as profits
Investors benefit from an easy and streamlined worker sponsorship process
In DMCC, a company can be form by even a single person
Dubai Multi Commodities Center business formation allows the investors to support residency and employee visas
It is right on the Sheikh Zayed road; which is a strategic location and close to ports and most important industry corridors; which is something that each as well as every investor desires
Those who choose for Company formation in DMCC Dubai enjoy less tax; that is no corporate as well as personal income.
To utilize the advantages which come with DMCC company formation; entrepreneurs and investors must work together with a good reputation business setup consultants in Dubai to assist them obtain the right licenses and operate competently.
We have the best business setup consultants in DMCC who know very much how to make the process of business formation a breeze for both, seasoned as well as aspiring entrepreneurs.
We will guide you to apply for the right license; and will help you to creating a feasibility study as well as a business plan; a trust worthy member of our team will assist you at all steps of DMCC company formation.