DMCC Free Zone Business Setup

Dubai Multi Commodities Center is shortly called DMCC. The most well-known and highly reputable free zone in Dubai is DMCC. Hosting 16000 companies, registering your business in the Emirate of Dubai with DMCC company formation is one of the best ways

DMCC Business Facilities

Jumeirah Lakes Towers with both commercial and residential towers is the location of DMCC that looks like a city within a city.

Main highways of Dubai are conveniently accessed along with 2 metro stations from DMCC. Across the road are Dubai Marina and The Palm Jumeirah. A 10 min drive will take to Downtown. It lodges business centers, offices, clinics, schools, sport clubs within the same area.

For company formation, DMCC company has 4 options of the facilities to rent namely:

• executive office in any of the business towers located in JLT
• flexi-desk facility as the minimum required office space
• serviced desk or office
• Warehouse in JAFZA free zone

Activities in DMCC

Business activities include:

• conventional trading
• professional services
• crypto commodities trading
• shop
• clinic
• restaurant
• retail business

It is a great alternative to a Mainland company with 100% ownership. Business activities upto 6 can be held by your license.

DMCC License Costs

Major fees for DMCC company set up includes:

• DMCC license
• One-time registration fees
• Facility rent flexi-desk, office or warehouse

DMCC Company Setup

DMCC company setup process can partly be done remotely and may take from 2 to 4 weeks. Company legal documents have to be personally signed by the shareholder. A minimum share capital of 50,000 AED has to be deposited to a corporate bank account. This can be 60 days after the licensing in the free zone.

Documents for DMCC business setup include:

• Business plan for certain activities
• CV
• Passport copy
• Utility bill

Few post-registration formalities include:

• Appointment of auditors
• Carrying out office inspection if you have rented one
• Demonstration of company capital to DMCC authority
• Stamping shares certificates

Dubai Resident Visas

Validity of all visas is 3 years owners as well as employees. Visa designation is restricted for Company owners but they can have any top managerial position for which attested educational certificates have to be submitted.

Renewal of DMCC License

Company renewal costs include license and facility fees. So it is reasonable in terms of maintenance. Annual audit report has to be provided. Without your personal presence, the consultants renew the DMCC license.

Company Amendments

Remote mode is opted for minor amendments whereas shares transfer requires a personal visit of the owner or a Power of Attorney. Amendment costs around 4,000 AED. During license renewal, few amendments can be freely done.

Amendments can be:

• Change of the location
• Company name change
• Removing or adding the company Manager

DMCC Company Liquidation

DMCC’s Company liquidation is quite an extensive process that includes following steps:

• Cancellation of the license
• Cancellation of visas
• Closure of the bank account
• Final audit
• Newspaper advertising of the company closure
• Termination of lease

Liquidation time-frame varies from 2 to 5 months with a fee around 10,000 AED. This process is carried out by Business setup consultants in DMCC.

Originally posted 2021-09-29 06:17:40.