Our company cooperates with various free zones in the UAE and assists in company registration. Below is a profile of DMCC free zone in Dubai.
Name and Website | Dubai Multi Commodities Centre (DMCC); https://dmcc.ae/. |
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General Information |
DMCC, established in 2002, is the largest and fastest-growing free zone in the Emirate of Dubai. Over 24,000 companies representing 180 countries. Wide choice of commercial and residential property in Jumeirah Lakes Towers (JLT) и Uptown Dubai. |
Specialization |
General. The free zone is suitable for companies that engage in various types of business, such as commodity trading, provision of services (including professional), holding and other activities. DMCC is a historically leading free zone for trading in commodities, including energy, gold, metals, diamonds, precious stones, tea, coffee, and agricultural products. The free zone is home to the Dubai Gold and Commodities Exchange (DGCX) and Dubai Diamond Exchange (DDE). |
Registering Authority |
Dubai Multi Commodities Centre Authority, DMCCA. |
Companies’ Regulations |
Dubai Multi Commodities Centre Authority Company Regulations 2020. |
Types of Licenses |
A license of each type may include several activities. The free zone issues licenses for one to three years with subsequent renewal. |
Dual Licensing |
DMCC free zone companies can establish a presence and operate in mainland Dubai under a special license issued by the Dubai Department of Economy and Tourism (DET) unless DMCCA objects. |
Type and Forms of Companies |
Free zone company:
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Company Name |
A DMCC company name:
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Share Capital |
The share capital payable upon a company’s incorporation is usually 50,000 AED (around 13,600 USD). The capital is contributed once and can subsequently be spent. In any case, the share capital should be at least the minimum prescribed by the Registrar. The company can be 100% owned by foreign shareholders. |
Director |
The director manages the company, exercises all its powers (except for issues within the general meeting’s competence), and is appointed by shareholders. A company must have at least one director. Directors may only be individuals unless otherwise approved by the Registrar. |
Manager |
The manager is responsible for the company’s day-to-day operations. Only an individual can be appointed a manager. The manager can be appointed from among the directors or shareholders. |
Secretary |
Companies are required to have a secretary, who can be an individual or a legal entity. |
Physical Office |
A company must have a physical office within the free zone. A valid office lease agreement is a condition for obtaining and renewing a business license. The office space depends on the company’s activity and the number of employees. The minimum option for meeting office requirements may be a flexi desk – a dedicated workplace that a company can use for a certain number of hours per month. |
Financial Statements and Audit |
Companies must keep accounting records and annually prepare and file audited financial statements in accordance with International Financial Reporting Standards (IFRS). An auditor must be approved by and registered with DMCCA. |
Taxation of Profits |
A company must register for corporate tax and obtain a tax registration number (TRN). A free zone company’s profit is subject to taxation for tax periods starting on or after 1 June 2023. A company may elect to apply –
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Annual Renewal |
Starting from the second year of existence, the company pays free zone fees for license renewal, prolongation of the company’s immigration card, and an administrative fee. |
Redomiciliation | Both inward and outward redomiciliation is allowed. A company from another jurisdiction may re-register and continue in DMCC as a free zone company. Likewise, the DMCC free zone company may transfer its registration to another jurisdiction. |
Company Search | https://landing.dmcc.ae/public-search The search service provides information on the license number, validity period, address, manager, activities, registration number, and registration date. |