Company formation in Dubai Multi Commodities Centre
DMCC is the largest free zone in the world and is ideally positioned as a global hub for trading commodities and related products. It hosts over 24,000 companies, ranging from start-ups to large multinational corporations, offering unique opportunities for business connections and networking.
Dubai Multi Commodities Centre IN DUBAI
Strategically located in the heart of Dubai, with developed infrastructure nearby, DMCC offers a blend of commercial and residential towers, creating a self-contained city within the city. It boasts the convenience of two metro stations and easy access to the main highways.
One of the advantages of the DMCC company formation is that you may perform up to six activities under one license.
Registration of a free zone company may take from 2 to 4 weeks.
You can also consider other free zones for establishing a company and choose a more cost-effective option with conditions that suit your needs.
Dubai Multi Commodities Centre (DMCC) company formation process
Step 1
Determine which type of license offered by the DMCC suits you. It is crucial to approach this question carefully, as choosing the wrong activity, registration authority, or location can lead to errors during company registration, creating problems with opening a bank account or even making such opening impossible.
Step 2
Collect and submit the documents required by the free zone authority together with a filled-out application, and pay the fees.
Step 3
Conclude the lease contract for your premises within the free zone and make the payments.
Step 4
Receive the license and registration documents for the company.
Step 5
Undergo a medical checkup and submit documents for a residence visa. Different registration packages may provide for a varying number of visas available for owners and employees of the company. Note that when applying for the residence visa a medical insurance is mandatory for the owner of the company and for the employees.
Step 6
When the visa is issued, receive your Emirates ID card.
Step 7
Apply to a UAE bank to open a corporate bank account. In some cases, the bank’s approval may take a month.
Step 8
Receive the account details and start running your business in the UAE.
Dubai Multi Commodities Centre (DMCC) license costs
The basic (and the cheapest) package for a business setup in the DMCC costs 35,484 AED. It includes the following services
- Company registration
- Articles of Association
- License
- Establishment card
- Special flexi-desk (for 1 visa)
- Company stamp and a commemorative certificate
This basic package provides for up to 3 business activities from the same business activity group. Note, that types of activity must qualify for the flexi-desk facility.
The overall costs of the DMCC free zone company setup may seem higher than in other free trade zones in Dubai but they are more than compensated by the advantages and prime location DMCC offers.Â
If you want to know more about business setup packages in the DMCC or find a more low-cost alternative, contact our business consultants!