Establishing a Company in DMCC The Dubai Multi Commodities Center (DMCC) is one of the largest free zones in the world and an ideal destination for companies looking for a dynamic and advanced investment environment. DMCC is located in the heart of Dubai and provides advanced infrastructure and distinguished services that make it a preferred destination for many entrepreneurs.

In this article, we will take a look at how to establish a company in Dubai , from determining the type of company and choosing the appropriate trade name to registration procedures and obtaining the necessary licenses. We will also review the benefits that your company can achieve by incorporating in DMCC, such as expanding into global markets, obtaining import and export facilities, and other investment benefits.

Through this article, you will gain a comprehensive understanding of the process of setting up a company in the Dubai Multi Commodities Center (DMCC) and will be familiar with the steps needed to start your business in this vibrant and developing region.

Establishing a company in the Dubai Multi Commodities Centre

Establishing a company in the Dubai Multi Commodities Centre

Establishing a company in the DMCC represents an important opportunity for those wishing to benefit from global trade and expand business activities. The Dubai Multi Commodities Center (DMCC) is one of the largest commercial and logistics complexes in the world, offering a flexible and suitable environment for establishing and operating companies. Here are some key advantages:

1. Encouraging Business Environment: DMCC provides a favorable and encouraging business environment for startups, medium and large companies. The center has advanced and transparent commercial legislation and laws, and provides legal and regulatory support to companies, facilitating establishment and operation procedures.
2. Global Orientation: DMCC functions as a global multi-commodity trading hub, comprising various sectors such as gold, jewellery, diamonds, metals, foodstuffs, chemical products, etc. This gives companies opportunities to access a wide global market and deal with international customers and business partners.
3. Advanced Infrastructure: DMCC provides advanced infrastructure that supports the efficient operation of companies. This includes modern office, warehouse, warehousing and logistics facilities, as well as professional services such as banking, banking, accounting and legal firms, facilitating business management and growth.
4. Financial and Banking Services: DMCC is an integrated financial and banking centre, providing access to a variety of innovative financial and banking services. Businesses can utilize banking, finance, money management and investments services to achieve their business goals efficiently.
5. Tax and customs privileges: DMCC-registered companies enjoy multiple tax and customs privileges. For example, the DMCC does not impose income tax on companies residing within the center, and enjoys soft customs policies and customs facilities for importing and exporting goods.
6. Cultural and linguistic diversity: The Dubai Multi Commodities Center is distinguished by its wide cultural and linguistic diversity, as people of different nationalities and cultures work and invest in it. This provides excellent opportunities for international expansion and dealing with business partners from different parts of the world.
7. Government Support: The Dubai Government provides strong support to DMCC-registered companies, providing programs and initiatives to promote innovation, entrepreneurship and business development. It also provides support services for small, medium and fast-growing enterprises.

When considering setting up a company in DMCC, many factors must be taken into consideration such as the type of company, your target industry and your business needs. It is preferable to consult a local advisor or business management specialist to obtain appropriate advice and guidance before making any investment decisions.

Steps to establish a company in the Dubai Multi Commodities Center

Establishing a company in the Dubai Multi Commodities Center (DMCC) requires following specific steps, which are as follows:

1. Choosing the type of company: Before starting the incorporation process, you must determine the type of company that suits your needs, whether it is an individual company, a joint stock company, or a subsidiary, according to the business activities you want to practice.
2. Determine the business activity: You must determine the business activity that the company intends to practice, which must be compatible with local regulations and legislation.
3. Choosing a Company Name: You must choose a unique and appropriate name for the company, which complies with DMCC policies and does not violate registered trademark rights.
4. Preparing the required documents: Prepare the documents required for the incorporation process, such as the company incorporation application form, a copy of the passport of the owner or general manager, and the company contract (if any).
5. Submitting an application for company incorporation: After preparing the documents, submit the company incorporation application to the DMCC. The application can be submitted online or in person at the DMCC headquarters.
6. Payment: Pay the fees required for the incorporation process, which vary based on the type of company and additional services required.
7. Receiving the license and documents: After DMCC approves the incorporation application and pays the fees, the company will receive the necessary license and official documents.
8. Opening a bank account: Open a company bank account in one of the DMCC approved banks.
9. Registration with the necessary government agencies: The company may need to register with the relevant government agencies and obtain the necessary licenses as needed, such as a work permit and residence visas for employees.
10. Starting a Business: After receiving the license and completing the necessary procedures, the business can be started at DMCC.

Conditions for establishing a company in the Dubai Multi Commodities Center

Conditions for establishing a company in the Dubai Multi Commodities Center

Subject to some conditions that must be taken into account. Here are some basic conditions that may be required:

• Affiliation of the activity to the list of permitted activities: The company’s activity must be within the list approved by the DMCC. This list can usually be viewed via the official DMCC website.
• Owner and General Manager: The owner and general manager of the company must not be banned from the regulatory authorities in the emirate.
• Company contract: The DMCC may require a company contract with specific terms, containing information about shareholders, organizational structure and activities planned to be carried out.
• Obtaining other approvals: The establishment of some sectoral or financial services companies may require obtaining additional approvals from the relevant regulatory authorities.
• Core Capital: The DMCC may require setting a certain core capital for company incorporation, which can vary based on the type of company and business activity.
• Compliance with local laws and regulations: The company must comply with all local laws and regulations in the emirate, specifically with regard to business, taxes, labor, environment, etc.
• Completion of administrative and regulatory procedures: DMCC may require additional administrative and organizational procedures such as submission of applications, required forms, and scheduled financial payments.

Documents required to establish a company in the Dubai Multi Commodities Centre

You usually need to submit a set of documents required to establish a company in Dubai . These documents may vary depending on the type of company, its structure and activities. However, here is a list of basic documents that are often requested:

1. Company Incorporation Application Form: The official company incorporation application form must be completed and signed and submitted to the DMCC.
2. Social contract model: If there is more than one shareholder in the company, you may need a company contract that contains details about the company’s activities, distribution of shares, shareholder rights, etc.
3. Passport copies: Passport copies of all major shareholders and directors of the company.
4. Portraits: Portraits of all key shareholders and directors.
5. Bank clearance documents: DMCC can request bank clearance documents for shareholders or partners.
6. National address details: The company needs a specific address in the Emirate of Dubai to register. This may be an office address or a contact address only.
7. Power of attorney: If there is a person authorized to represent the company in legal and administrative proceedings, you may need to provide a formal power of attorney.
8. Any additional documents: You may be asked to provide any additional documents related to the type of company, its activity and structure.

Costs of establishing a company in the Dubai Multi Commodities Center

The costs of establishing a company in the Dubai Multi Commodities Center (DMCC) vary based on several factors such as the type of company, the size of capital, and additional services that investors may need. However, general estimates can be provided about establishment costs which may include the following:

1. Basic Registration Fees: These include the fees necessary to apply for company incorporation and registration with the DMCC.
2. Legal advice and attorney costs: You may need legal advice to assist you in preparing the required documents and complying with all local conditions and regulations.
3. License fees and additional services: You may need to pay additional fees for additional services such as residence visas, office rental, banking, insurance, etc.
4. Core Capital: The DMCC may require setting a certain core capital for company incorporation, which can vary depending on the type of company and its activity.
5. Government and administrative fees: These may include fees for government and administrative permits and licenses necessary to establish and operate the company.
6. Annual taxes and fees: You may need to pay some annual taxes and fees once the company is up and running.

Establishing a company in the Dubai Multi Commodities Center in cooperation with Itqan Company provides exciting investment opportunities in the global trade and commerce sector. Itqan Company provides distinguished consulting services to help you establish your company and benefit from the advanced infrastructure and strategic vision of the Dubai Multi Commodities Center.

Through its extensive experience in the global trade sector, Itqan provides support and guidance in developing strategic plans, analyzing the market and evaluating business opportunities. The company provides advice regarding registration, licensing, and dealing with local and regional government agencies.

By benefiting from Itqan\’s experience in the field of international trade, you can explore partnership and cooperation opportunities with local and international companies located in the DMCC. This gives your company access to a wide network of customers, suppliers and investors.

Itqan is a strong and trusted partner in setting up a company in DMCC, providing the comprehensive support and knowledge needed to achieve your success in this dynamic market. Using customized consulting services and local knowledge, Itqan can help you overcome challenges and achieve your business goals.

Overall, cooperation with Itqan can be a strong foundation for establishing a successful company in DMCC, providing the necessary support and expertise to achieve success and prosperity in the global trade sector.

Frequently asked questions about establishing a company in the Dubai Multi Commodities Center