Dubai Multi Commodities Centre (DMCC) is a special economic zone (SEZ) set up to provide an atmosphere conducive to developing the global commodities trade.
It was established in 2002 as a public limited company, with a mandate to develop Dubai as a hub for commodities trade and to promote the competitiveness of the UAE’s economy through its activities.
Dubai Multi Commodities Centre offers a wide range of services related to trading and logistics, including investment facilitation, customs clearance, warehousing, and storage. It also provides end-to-end value chain solutions for companies involved in the global commodities trade.
DMCC stands for one of the fastest-growing free zones and thus becomes the best choice for entrepreneurs who wish to set up a business in Dubai.
Benefits of Business Setup in DMCC
Below are the benefits of business setup in the DMCC free zone.
- 100% foreign ownership.
- 0% personal and corporate tax.
- No capital repatriation restrictions.
- No currency exchange restrictions.
- The comfortable and hassle-free company setup process.
Dubai Laws that Tourists Should Know
Business opportunities in DMCC
Below mentioned are the opportunities for company formation in DMCC Dubai:
-
Gold
Gold trading is a very profitable option in Dubai; it benefits 20% of the UAE’s GDP. Moreover, the gold business is one of the most significant sectors in the UAE, attracting millions of investors each year.
-
Precious Stones
The DMCC provides fair chances for professionals dealing in precious stones such as diamonds and pearls.
-
Tea
Trading activities include not just precious stones but also tea. The United Arab Emirates is one of the world’s largest tea exporters.
-
Coffee
The Middle East region has always been fond of coffee, and DMCC has targeted this as a business market. The primary goal is to establish Dubai as one of the world’s leading coffee supply chain destinations.
-
Crypto
The DMCC intends to use blockchain technology to transform half of the government transactions into blockchain platforms. The crypto market is on everyone’s attention these days. DMCC provides a platform for learning, understanding, and transacting in this domain.
-
Agriculture
As the hotel and restaurant industries expand, so will the demand for agricultural products. We must recognize that the agriculture industry is the foundation of the tasty meals we consume regularly.
The DMCC has considerable ground for the agriculture business, offering the most potential flexibility to investors.
Need to Know Before Going to Dubai
The Procedure of business setup in DMCC
-
Fill out the application
Your business consultant will provide the application. Then, you need to fill it out with your signature.
-
Shareholder’s passport
Submit the scanned copy of all the shareholder’s passport copies.
-
Last Entry Visa stamp or residence visa
The investor has to provide a residence visa; if they do not have one, they can give the last entry visa stamp.
-
Three trade names
Provide three trade names along with the other mentioned documents.
-
Scanned copy of a passport-size photo
Provide an original or scanned copy of a passport-size photo of all the shareholders.
-
Make the payment
Payment can be made before or after sending the documents.
End Note:
The DMCC free zone has helped Dubai to strengthen its commerce and trade industry. A DMCC company formation will guarantee your company’s profitable growth, and a business consultant like commitbiz may assist you in getting started.
Get in touch with us to learn more about establishing a business at Dubai Multi Commodity Centre.
