Business

All you need to know about Dubai Multi Commodities Centre (DMCC)

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.

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.

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.

About the Author:
 
Name: 
Commitbiz
 
Details: 
Commitbiz Management Consultant is among the pioneers in Business setup services in UAE. They are helping investors and entrepreneurs (big & small) with business setup in Dubai & related services for UAE without any hassle or delay. You can always contact us for a Free Consultation for getting your queries answered.
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