If you’re looking for a place to set up a business, the Dubai Multi Commodities Centre (DMCC) is the place to be! The location is growing at such a rapid pace. There are over 15,000 registered businesses in the area, making it the largest free trade zone in the UAE. What makes this area so popular? For starters, business owners enjoy 100% expat ownership, it’s a tax-free environment, and the setup is quick and easy. So, you could have a business setup in DMCC in no time!
Benefits of Business in DMCC Free Zone
Because of its proximity to major business centers, the DMCC Free Zone allows companies to achieve maximum benefits. The location is ideal because it provides more access to shipping locations, which helps give your business exposure in international markets. But the location isn’t the only bonus for starting your business in Dubai. Here are some other benefits for the DMCC Free Zone company setup:
- 100% foreign ownership of the company
- No personal or corporate taxes
- No duties on import/export
- Flexible office solutions
- World-class infrastructure
- An ideal location in the heart of Dubai with the proximity to Dubai International airport and seaport
- No restriction on capital repatriation
- Efficient licensing and registration procedure
In order to do business in Dubai, you will need a business license. The business license gives your company an identity and allows you to legally do business.
General Trading License
This type of license allows consolidating, distributing, import, export of products.
This type of license allows consolidating, distributing, import, export, and storing of products.
A service license will allow you to carry out activities like service or consultancy.
Documents Required for DMCC Free Zone Company Setup
To ensure the business setup process goes smoothly, you will want to make sure you have all of the proper paperwork.
Here are the required documents:
- Application form
- Copy of passport, Emirates’ ID, and UAE residence visa
- Summary of business plan
- The address of the office in DMCC
- Power of Attorney for Manager, Director, Secretary, and Specimen signature
- Copies of parent company documents
- NOC from sponsor
Steps for Business Setup in DMCC
Step 1 – Expert consultation
To set up a business, you’ll want to make sure everything runs smoothly. The first step to take would be to get advice from the experts, like the ones at MSZ Consultancy. We will help get you through the process and make sure you have all the proper paperwork and documents.
Step 2 – Select company type
Once you decide on the business activity you will have, then you will need to choose the company type. There are three different company types:
- Free Zone Establishment
- Free Zone Limited Liability Company
- Branch of a Company
Step 3 – Prepare your company registration
You will have to get your company registration together.
Step 4 – Select and lease business premises
A big part of company registration is finding a location for your business. The DMCC has a wide range of commercial business facility spaces from a shell building, turn-key offices, retail outlets that are ready to operate, and even flexi desk spaces.
Step 5 – Receive business license
Once your business location has been finalized, your company registration will be completed, and you can receive your business license. You will also receive a certificate of incorporation and Memorandum and Articles of Association.
Step 6 – Corporate bank account opening
After you get your business license, you will be ready to open a corporate bank account. We can walk you through the process to open up your account.
Step 7 – Finalize UAE residency visas
The final step is to start the visa process. You’ll be able to apply for visas for investors, employees, spouses, and dependents.
Services MSZ Consultancy Provide for Business Setup in DMCC
When you partner with MSZ Consultancy, you aren’t just finding someone to only be there at the beginning, we will be there for the life of your business. We offer several services that will help you year after year.
MSZ Consultancy is officially recognized as a PRO service Dubai provider. Our Public Relations Officer services will deliver the documents to government authorities on time, saving you on late submission penalties. Our team of experts will help you through the life of your company with annual renewals and updates, notarization of legal documents, family visa services in Dubai, and more.
You have worked extremely hard to build your brand, so we will work hard to protect it. MSZ Consultancy will provide trademark registration, renewal, and amendments. Our skilled, well-experienced team will make sure your work is safe from thefts and abductions.
Any foreign investor that wants to open a business in Dubai will need a local sponsor. A sponsor is a UAE national or an Emirati, who acts as a sleeping partner for your business. We can help you find the right partner for your company.
Bank Account Assistance
Having a bank account in Dubai is really useful for those who have international business transactions and want to transfer funds from one account to another account worldwide. Opening a bank account in Dubai differs from bank to bank. We can assist you in setting up your account so you can control your account from anywhere in the world.
Product registration is a mandate in Dubai. This applies for all products manufactured and distributed in Dubai. There are a number of steps involved in this process. We work with our clients to simplify the lengthy process.
Because of the high business demand in Dubai, there are several business center packages and solutions to choose from. These centers are strategically located office spaces throughout the city. We can help you find a cost-efficient space for your company.
Liquidation of a business can be stressful. We can help with all the aspects of liquidating a business, like figuring out your costs of closing down, insolvency, and bankruptcy, and getting a detailed review of all compliances.
DMCC Free Zone Business Setup with MSZ Consultancy
While business setup in DMCC is a quick and easy process, there are still many steps you have to take to reach your company’s goals. Don’t try to do it alone. Call our experts to help you through the process. From business setup costs, the licenses you need, and document deadlines, our team of experts are your one-stop for everything you need. We will help you with a business setup and give you all the tools you need to make sure your business is strong and successful. Reach out today at +971 52 544 1248 for your free consultation!