Registered Auditors in Dubai Multi Commodities Centre (DMCC)

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Dubai Multi Commodities Centre (DMCC)

DMCC or Dubai multi commodities centre popularly known as the ‘Global free zone of the year’ was established in 2002 by the government of Dubai. It’s a dynamic waterfront community with designated areas. For any business operations in Jumeirah Lakes Towers, DMCC authority is the licensing authority. So, therefore businesses in DMCC benefits from a free zone status making it a mixed use free zone free hold development in Dubai. DMCC offers attractive residential and office towers with leisure hotels and retail outlets. It has a total of 79 towers, out of which 3 towers are developed by DMCC.

The towers are known as Almas, AU, and AG towers. Almas tower is situated on the island in the centre of the community, mostly recognized as the focal point of development. The tower houses the popular Dubai Diamond Exchange as well as the DMCC member businesses in diamond, gold, energy, and commodities industries. Dubai multi commodities centre is situated next to the Sheikh Zayed Road, between interchanges 5 and 6. The 79 towers stand tall proclaiming it as the prestigious project and one of the most recognized addresses in Dubai. Here, property owners have the ability to own and develop towers on a freehold basis. We are experts when it comes to DMCC free zone company setup and can be consulted on all matters relating to the same.
Licensee must hold a valid DMCC office lease or he/she should be the registered owner of freehold office space within DMCC. They should hold a valid license issued by DMCCA in order to operate in the Dubai multi commodities centre. Licensees should renew their license within the given time frame set by the concerned DMCCA department.

To qualify or retain licenses from DMCCA, applicant must follow the below criteria,

Have a valid lease for office space or be the registered owner of the freehold office space within DMCC. It must have the operational premises within the DMCC center.
Conform to any applicable federal and/or municipal legislation
Conform to the Operating Regulations as well as all other applicable DMCCA directives.
DMCC offers licenses that shall be valid for one year from the date of issuance and may be renewed annually provided that the Licensee either holds a valid lease for office space within the DMCC from which it operates or is the registered owner of freehold office space within the DMCC from which it operates;

Basic Features of DMCC Company

A DMCC Company is a limited liability company wherein the shares can be held either by a single or multiple shareholders. The shareholder/s can be either individual/s or corporate entities.
The minimum share capital required for forming a Dubai multi commodities centre (DMCC) company would be AED 50,000/- (AED 10,000 per shareholder) for Specific Trading or Service License and AED 1,000,000 for General Trading License. The value of each share is AED 1,000 or multiples thereof. The capital contributed for the DMCC Company can be utilized in the operations of the company. In case of branch of a local or foreign company, no initial share capital is required. Special rules and regulations are applicable for DMCC companies.
The DMCC Company needs to appoint minimum one Director, a Manager, a Secretary and a Negotiator. The Director, Manager, Secretary and Negotiator can be the same the person.
The manager will be required to be on the residence visa of the company under the sponsorship of the Free Zone Authority. To validate the visa, the Manager, would be required to enter the country at least once in six months. In case the Manager is already having a UAE visa, an NOC from the present sponsor has to be submitted.
DMCC offers 100% foreign ownership
100% tax exemption
50 years tax holiday
Full repatriation of capital & profits
Extended leases and option to either lease the premises or to have it as Freehold ownership

Basic Features of DMCC company branch office

Branch is usually an extension of the Parent company
Branch requires no minimum capital
A foreign company should be at least two years old to be registered as a branch office at DMCC
Audited financial are not required to be submitted to FZ Authority.
Profits of the branch would be taxed as per the laws prevalent in the country of residence of the parent company.
Dubai multi commodities centre offers a consolidated hub for global trading which regulates and promotes trade for a wide range of goods. DMCC offers great infrastructure and serves clients all over the world.

Need assistance with DMCC free zone company setup in the UAE?

RTS Business Consulting, we have years of experience helping clients establish their companies in the Dubai Multi Commodities Centre or DMCC.

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