Dubai Multi Commodities Centre (DMCC) Free Zone is an excellent choice for entrepreneurs looking to start their business in the UAE. It has been awarded the Global Free Zone of the Year for 8 consecutive years by fDi Magazine, proving its vibrant business community and impressive track record.
If you are interested in starting a business in DMCC Free Zone, this guide may provide all the necessary information that you will need. Below, we will talk about the following topics:
- Benefits of starting a business in DMCC Free Zone
- Most Ideal businesses to establish in DMCC Free Zone
- Steps in Starting a business om DMCC Free Zone
- Cost of starting a business in DMCC Free Zone
- How Creative Zone can help
Benefits of starting a business in DMCC Free Zone
Aside from being a multi-awarded business hub, entrepreneurs choose DMCC Free Zone for the following benefits:
100% Ownership: DMCC Free Zone allows foreign business owners full ownership of their company, without the need for a local sponsor or partner.
Tax Incentives: Companies registered in DMCC Free Zone enjoy 0 corporate and personal tax rates. This makes it an ideal location for tax optimization, enabling businesses to reduce their overall operating costs.
Global recognition: As a world-renowned business hub, setting up a company in DMCC Free Zone adds credibility and reputation to companies, allowing them to attract more customers and investors.
Prime location: With its location in the heart of Dubai, businesses in DMCC Free Zone enjoy convenient access to major transportation links in the Middle East, Africa, and Asia.
Easy company set up: Starting a business in DMCC Free Zone is easy and convenient due to its streamlined registration process and minimal paperwork requirements.
World-Class Infrastructure: DMCC Free Zone boasts top-notch infrastructure and facilities, including advanced telecommunication and transportation networks, which are beneficial to businesses.
Most Ideal businesses to establish in DMCC Free Zone
As one of the most rapidly expanding business hub in the UAE, DMCC Free Zone offers a diverse range of activities and opportunities for businesses to thrive and achieve high profitability. Among the top business ideas that are suited here are trading companies, consultancy firms, e-commerce businesses, logistics and distribution companies, and technology firms.
Steps in starting a business in DMCC Free Zone
To ensure that you will maximize the advantages of setting up a company in DMCC Free Zone, our company formation specialists from Creative Zone is here to guide you through the following steps:
Step 1: Choose a company name
The first step in setting up your business is to choose for your company name. You can check the availability of your chosen name on the DMCC website.
Step 2: Select your business activity and company legal entity
After selecting the name of your company, you can now proceed in selecting the nature of your business activity. This is important as it will determine the type of license you will need.
Once completed, you can choose on the type of legal entity you want to establish, such as a limited liability company (LLC), branch office, or free zone establishment (FZE).
Step 3: Apply for an initial approval
Next, you can now get an initial approval by submitting the required documents to the DMCC Authority. At this point, our business experts from Creative Zone will help in accomplishing all the necessary paperwork for your business.
Step 4: Open a corporate bank account
Once you get an initial approval, you can now proceed in opening a corporate bank account. This will allow you to allow you to carry out business transactions and manage your company’s finances.
Again, Creative Zone will assist you in finding the most suitable bank for you company.
Step 5: Choose a location
Depending on your needs, you need to lease a physical space for your office. Our company formation specialists can once again assist you in choosing the most suitable location for your business.
Step 6: Get a final approval
Depending on the situation, additional licensing approval may be required from other authorities. Once everything is in order, DMCC authority will ask you to submit the final documents required. Once approved, you can now launch your business.
Cost of starting a business in DMCC Free Zone
The minimum share capital required for a DMCC Free Zone is AED 50,000 per company, while registering your business typically starts at AED 9,000. This does not include other fees such as visa, license, and other charges.
At Creative Zone, we offer more cost-effective business packages that are tailored to your specific needs and budget. Contact us now to get a personal quotation for your company.
How Creative Zone can help
Creative Zone is the UAE’s largest and most trusted company formation specialist, having helped over 45,000 SMEs and startups launch their businesses in the country. We take pride in offering unparalleled pre-to-post business setup services that ensure the growth of your company in the UAE.
To take advantage of our free consultation, please contact us at 800 LICENCE (5423673) and speak to one of our business consultants today!