MS in Dubai Multi Commodities Centre (DMCC)
MS group offers you an opportunity to access one of the most sought after freezone in the world where your business can thrive.
Dubai Multi Commodity Center (DMCC) is one of the largest and fastest growing freezone in the world and was established in 2002 as a commodity marketplace in Jumeirah Lake Tower District (JLT) in the center of Dubai. Now it is home to more than 22000 businesses from a wide range of industries and sectors such as Argo, energy and financial services to diamonds, gold, and base metals.
DMCC has been awarded Global free zone of the year by the Financial Times fDI magazine for 8 years in row, for being the best place to set up business in UAE with world class infrastructure, state of the art facilities and streamlined legal and regulatory frameworks. DMCC offers you a vibrant community with unparalleled business solutions that will convert your goals into reality.
Setting up a Business in Free Zone
Free zones have changed global economic markets, giving entrepreneurs all over the world a positive influence and a wide range of business possibilities. Operating in a freezone helps the business to access exclusive benefits.
- 100% Repatriation of profit
- Steady & Transparent Laws & Regulations
- Easy Recruitment and competitive workforce
- Exemption from Import & Exports
- Fully Functional Infrastructure.
- 0% corporate tax for qualified income
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Benefits ofDMCC
- 0% personal income tax and low corporate tax rate
- 100% capital repatriation and business ownership
- Enhanced networking opportunities by connecting 22000+businesses through various events and workshops to grow your business.
- Strategic location for connecting Abu Dhabi and Dubai and close to global markets, major transportation, and road networks.
- Offers unique services like flexible visas, medical services, flexi, and service desks, furnished and serviced offices and so much more.
- Full-fledged online portal for business set up in DMCC and customer services.
- Best Security System to ensure secure environment.
- Reasonable License Cost at DMCC.
Why MS as your Corporate Service Provider ?
The most crucial and significant stage of a business's journey is the beginning. In determining what kind of activity is appropriate for your business, what legal requirements must be fulfilled, etc., you must seek the assistance of a specialist.
MS can be your one stop solution in Dubai for all the business needs. At every stage of your company' formation in DMCC, you can rely on us for unbiased advice and practical assistance. We pride ourselves for providing the best quality service for our business partners. You can count on us to always keep you informed and current with the information you require. We will take care of everything for you as your corporate service provider, allowing you to launch a business without concern. We will also assist you in making the best decisions possible.
Business Setup Process in DMCC
01
Pre-Incorporation Steps
Phase 1
- Client Onboarding and Preliminary arrangements
Client on board - Signing engagement letter, collecting due diligence documents to on board client. Confirmation on corporate structure and other groundworks – Identify and confirm the licensed activities. Shareholders and share allocations, company directors, managers, 3 desired names in accordance with DMCC regulation and collecting initial documents from client for DMCC company setup.
02
Incorporation
Steps
Steps
Phase 2
- Portal set up and Initial Approval
Our team establishes the client’s DMCC portal account and prepares the initial approval application. An initial approval is provided by DMCC compliance, who reviews the application to ensure all is in order with their compliance and regulation polices. DMCC then provides guidelines for next steps in the incorporation.
03
Post Incorporation steps
Phase 3
- Incorporation final steps
Our client reviews, signs, notarizes, and attests the required documentations. In accordance with client’s confirmation, our team rents a DMCC- based office/flexi desk and submit it together with notarized documents.
DMCC executive schedules a video call meeting with client for passport verification. Within a day DMCC issues the service license and article of association and bank introductory letter.
Phase 4
- Open a corporate bank account in Dubai
Our team would assist the client in setup of business bank account by liaising with clients preferred banking partners, submit the documents and due diligence to complete account opening.
Phase 5
- Employee visa and other requirements
Upon request, our team would prepare and submit visa request for its client and schedules visa stamping.
DMCC License Categories
01
Trading License
Allows importing, exporting, distributing, consolidating, and storing almost all products types. A company that has share capital and the liability of members is limited to the amount, if any, unpaid on their shares. It cannot offer its shares to the public.
02
Industrial License
Allows the implementation of light production activities specified in the license.
03
Service License
Allows carrying out service or consultancy activities specified in the license.
Key requirements for setting up in DMCC
01
Name
02
Director
03
Resolution
04
Articles of Association
05
Authorized signatory
06
MLRO
(in case of DNFBPs)
(in case of DNFBPs)
07
Shareholders & shareholding details
08
Ultimate Beneficial owner details
"Acquiring the license is not the only requirement for being registered under the DMCC Registration Authority. Office space is mandatory to get your entity functioning. "
Documents Required for the Incorporation
- Passport Copy/Emirates ID & Visa Page (if applicable)
- Address Proof (Utility Bill/Tenancy Contract)
- Business Profile
- Business Plan (Depends on Activities)
- Share holder education and experience certificates (Depends on activities)
- Third party No objection certificate (For certain activities)
Frequently Asked Questions (FAQ)
Being a foreigner, Can i be the 100% owner of the DMCC (Dubai) company?
Foreigners in the UAE can have 100% ownership of their own business along with complete capital repatriation, when you setup in DMCC.
Can i setup my bank account for my company in DMCC (Dubai)?
Yes, you can take advantage of the local banking infrastructure, at the same time you can enjoy extensive banking facilities in DMCC.
Do any activities require special approvals from external authorities?
Yes, there are some activities that are regulated by third party authorities in the UAE. In these cases, a No Objection Certificate (NOC) is required in order to add such activity on DMCC license.
What type of licenses does DMCC (Dubai) issue?
Trade Licenses : To carry out trading activities.
Service License : To carry out service activities.
Industrial License : To carry out light manufacturing activities
What is the Governing Law for all the DMCC (Dubai) registered companies?
All registered companies are subject to the laws of the UAE and DMCC rules and regulations.
Where do I begin in setting my company in DMCC (Dubai)?
Contact MS we are more than happy to be a part of your business success
Do I have to live in Dubai to open a business there?
No, since 100% foreign ownership is now possible Free Zones and for onshore UAE-based businesses.
Why must I establish a business in Dubai?
UAE is the world’s largest market and serves as the ideal place for business. Plus, the entrepreneurs are also exempted from taxes. Additionally, they can also experience excellent logistics and don’t even have capital restrictions on Dubai business setup.
How many same or different activities can I have under one DMCC (Dubai) License.
You can include up to six similar actvities with each license in DMCC. Additional fees apply in case the activities are from a different category.
What is the minimum share capital required to form a company in DMCC (Dubai)?
The Minimum share Capital for a free zone company in DMCC is AED 50,000.
Can a branch company apply for any activity?
A branch company can be licensed only for the activities that its parent company is currently licensed for. It also essential that these activities are available in DMCC
Is it Mandatory to have an office to open a new company in DMCC (Dubai)?
Yes, physical office space is mandatory for company set up in DMCC.
You can Choose the following:
- Flexi Desk
- Serviced Office
- Physical office for lease
- Physical office for sale
- Co working Space.
- Retail Space.
What is the license cost to set up a company in DMCC (Dubai)
One year License Cost (Trading & Service License) - AED 20,265
One year Licesense Cost (General Trading License) -AED 50,265
How long does it take to set up a business in Dubai?
This will depend on whether it’s an LLC or a Free Zone Company. It will also vary depending on which Free Zone and if the company has an individual or corporate shareholder.
How much does it cost to get a business license?
The cost of applying for an investor visa for company formation differs based on how you choose to get it. Usually, it ranges between AED 15,000 to 50,000 (approx.) or even more.
Is Dubai truly tax-free?
In most cases Dubai is completely tax-free.
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