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DUBAI FREE ZONE COMPANY FORMATION

DMCC - Dubai Multi Commodities Centre Free Zone

Dubai Multi Commodities Centre (DMCC), which has been named Global Free Zone of the Year for the past four years, is home to 15,000 businesses, with an additional 170 joining every month.

It was founded in 2002 and it is by far one of the most recognized and fastest free zone in Dubai.

Almost any legal business activity is permitted in the free zone. Its flexible office options, which include flexi-desks and serviced, multi-story office towers, are suited for companies of all sizes.

DMCC is situated in the Jumeirah Lakes Towers area, which is divided into assigned clusters, comprises both commercial and residential towers. It has two metro stations and access to major  transport links.

Setting Up a DMCC Company

Depending on the business activity, this setup can take 2 to 4 weeks. Part of this process can be done remotely.

Like other free zones, the presence of the company owner will be required to sign some legal documents. In order to register a company in DMCC, the share capital must be deposited into a corporate bank account. A license is granted after 60 days. A minimum share capital of 50,000 AED is required.

The following documents are required for DMCC business setup:

  1. A copy of your passport, an utility bill, and a curriculum vitae.
  2. For specific activities, create a business plan.

There are a few things to take care of after you’ve registered:

  • Stamping certificates for shares.
  • If you have rented an office, you will need to do an inspection.


The free zone organizes promotions a few times a year, during which it offers significant savings on the establishment of DMCC companies.

DMCC Residence Visas Corporate Amendments Liquidating a DMCC Company

For both owners and employees, all visas will be valid for three years. Owners of businesses are unable to obtain an Investor visa, as is the case in many other zones. They can instead hold any top management role.

All employees seeking a managerial position in the visa must provide an attestation of their educational credentials.

Visas and insurance can be handled by DMCC-approved company setup experts in Dubai.

During the renewal of the license, several amendments are available for free. When you renew your company, for example, you can remove or add business activity.

The average cost of any amendment is 4,000 AED.

 

Liquidation of a company under the DMCC jurisdiction is a lengthy procedure. The time duration can range from 2 to 5 months at times. The government fees are estimated to be around 10,000 AED. DMCC's business setup consultants may usually handle the liquidation as well.

The following procedures must be followed:

  • The company's closure was published in the newspaper.
  • The bank account was closed.
  • Final inspection.
  • Visas and Lease term expires.
  • The license will be revoked.
DMCC company setup price details (in AED):
License typePrices(AED)
Pre-approval1,035
Cost of License20,285
Exclusive desk17,500
Security deposit1,000
Establishment card1,800
One-time registration fee 9,020
Memorandum and Articles2,020

Benefits of DMCC Free Zone Company

  • The benefit of owning a warehouse with DMCC is that it can be located in either JAFZA or Al Quoz.
  • Proximity to Jebel Ali Port, Emirate’s airports, and the site of Expo 2020.
  • Setup your business and apply for a trade license that allows you to conduct six distinct activities in the same category.
  • It’s easy to open a bank account in this free zone.
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