Dubai Multi Commodities Center (DMCC) is the largest free economic zone in the UAE, operating in the field of commodity relations and raw materials. In fact, it is a multidisciplinary exchange with a market infrastructure. 20,000 enterprises operate on an area of 200 hectares.
DMCC is a state structure founded in 2002 to diversify trade flows through Dubai. The Dubai multi-commodity center is considered the world’s main trading conglomerate, the executive director of which is Ahmed Bin Sulayem. According to the DMC management, the mission of the FEZ is to increase trade deals in order to develop the economy at the global level.
Purpose and strategic goals
The special economic status allows DMCC to work with many product groups:
- gold, precious metals, diamonds;
- real estate;
- financial services;
- metals and alloys;
- tea, coffee, cotton;
- food and industrial goods, etc.
The jurisdiction of the FEZ allows the registration of firms providing services to the local population in the following areas:
- retail stores, malls, shopping centers;
- beauty salons, hairdressers;
- fitness centers, etc.
In the FEZ of Dubai, other licenses may be issued for activities that contribute to improving the lives of the UAE population and economic growth.
Advantages of DMCC
- Absolute repatriation of funds.
- 100% ownership of the business without involving representatives of the local ethnic group.
- Income tax is not levied on individuals, corporate tax is not levied on legal entities.
- A market with limitless possibilities.
- Advantageous geographical location – the country is located at the intersection of transnational trade routes. Two major air harbors, prestigious tourist and residential areas are located here.
- Easy access to investments for businesses.
- Unsurpassed quality of life.
- The opportunity to engage in any permitted type of entrepreneurship.
- Round-the-clock access to any electronic services from any device and anywhere in the world.
The main DMCC product groups
In the FEZ of Dubai, special attention is paid to the following groups of goods:
- Diamonds are the main direction of the project, designed to stimulate the market of precious stones and provide favorable conditions for effective and safe marketing.
- Gold. Dubai accounts for 25% of the world trade in this precious metal. DMCC is home to the world’s leading industrial cluster. The Dubai Delivery Standard is the only international standard for 995 gold bars weighing 1 kg.
- Base metals. The Dubai FEZ plays a huge role in the market of base metals, which is estimated at 170 billion US dollars per year. The annual production of aluminum in the UAE is about 2 million tons.
- Tea. The Emirates control 60% of the global tea market. Dubai is located between producers and consumers, which is strategically convenient for business projects in this segment.
- Coffee. Dubai Multidisciplinary Center offers services for the storage and processing of raw coffee according to international requirements and specifications. A large logistics chain linked to China passes through Dubai. Today, China’s products are shipped to many countries of the world.
- Pearl. The trade in natural and cultured pearls is flourishing in Dubai. Since 2009, a world exhibition has been held in the FEZ. DMCC has created a convenient platform for pearl trading, regardless of the point of removal of mining areas.
Until a certain time, transactions with cryptocurrency were banned. However, in May 2021, the crypto industry was allowed. The services of companies in this segment include:
- cryptocurrency trading;
- exchange of digital assets for other crypto assets.
The amount of the authorized capital for obtaining a license in the DMCC is 50 000 dirhams.
DMC Tradeflow Platform
DMCC Tradeflow is an online service for registering ownership of commodities stored in free zone terminals, designed to stimulate market payback and provide the Islamic financial sector with a trade and legal infrastructure with a guarantee of transparency of transactions.
Dubai Gold and Commodity Exchange (DGCX)
DGCX is a subsidiary of DMCC. The largest exchange in the Middle East for the diversification of commodity derivatives. Founded in 2005. The exchange offers ample opportunities for financial institutions and investors planning to gain access to gold-currency and commodity derivatives.
Types of licenses
The following types of licenses are available in the DMCC zone:
- A general trade license allows the owner to trade certain types of goods, including export/import/re-export, sale and storage. The authorized capital is 1 million dirhams.
- A commercial license gives the licensee the right to trade a certain range of goods, including export/import/re-export, storage and distribution.
- Industrial – license for the production of goods from imported raw materials with further packaging and export.
- The service license allows you to provide services under the license or to carry out consulting activities.
- An exchange license allows companies to trade in goods and raw materials (gold, oil, cotton, pearls, etc.).
- A non-exchange license allows you to trade and services that are not related to exchange activities (retail, catering, advertising, etc.).
The procedure for registering a business in DMCC
We offer the most optimal procedure for consideration.
It is necessary to determine your preferences and indicate the type of business that you intend to do in order to issue the necessary license. Collect all the required documents listed in the DMCC list. Reduce the cost calculation.
After receiving the request, you will be granted access to your account within 1 business day. You are now eligible to apply.
Fill out the form electronically. Pay the fee in the amount of 1035 dirhams and submit an application. The process of booking and approval of compliance lasts 7 working days.
Submission of documents, payment
Pay the license and registration fee, certify the documents with a personal signature. A preliminary approval will be sent to you in 5 working days.
Certify the package of documents for the new office premises. After 5 working days, you will become a happy license holder. From now on, you can start on DMCC. Good luck to you and the azure Arabian sky above your head. Remember! If you can’t afford an office on the 87th floor, then consider the option without repairs and finishing – you will need money not only to maintain ambitions. A table and a chair in the common office area are also an option.
To apply, you need the following documents:
- online request (application);
- a copy of the passport;
- resident visa;
- legal address of the company;
- receipt for payment of utilities in the country of residence or other proof of address;
- consent of third parties to conduct certain types of activities;
- copies of the constituent documents (when registering a branch).
- Your business career is subject to a mandatory audit.
- The minimum amount of the authorized capital is 50 000 dirhams. This money should be in the company’s bank account. But it can be deduced in the future.
- It is impossible to register a company without renting an object.
- You cannot transfer a license and a company from one free zone to another.
- For some types of licenses, you need to pay an additional amount of 20 000 dirhams annually.
- Some activities require a business plan.
- If there are legal changes in your company, then they should be registered (transfer of shares, increase/decrease of the share capital, liquidation of the company or license, etc.). A fee may be charged for each change.
Fees for registering a business with the DMCC
While you are not rich enough yet and cannot pay even 0% income tax, take into account the items of expenses that you will need to master.
In this category, the price includes registration, initial approval and license.
Commerce – 34,160 dirhams (1st year), 20,285 (2nd year).
Total trade – 84 165/50 285.
Consulting services – 34 160/20 285.
Industrial – 34 160/20 285.
The company’s branch is 32 140/20 285.
An additional 5% VAT is charged on fees.
In order to carry out business activities, the licensee is obliged to rent office space (annual payment).
The office of the business center with an area of 20 m2 – 50 000 dirhams per year.
A small equipped office S 120-230 m2 – 32 421.
Flexible table – 180457 for an area of 20 to 30 m2.
Physical office with equipment of 20-250 m2 – 80 dirhams per 1 m2.
Retail store (110-350 m2) – 200,000.
VAT – 5% extra.
Certificate of operational suitability (commerce) – 500 dirhams.
Certificate of operational suitability (industry, retail) – 1020.
The map of the institution is 1825.
Letter of appointment of audit – 1000.
VAT – 5%.
4 Resident visa (valid for 3 years)
Work visa (the applicant is located outside the country) – 3441 dirhams.
Work visa (the applicant is in the country without changing the status) – 3881.
Work visa (with a change of status) – 4706.
The appointment of the coordinator is 40 dirhams.
The VISA security deposit is 3000.
Medical test, an identity card according to the Emirates – 1230 standard.
Medical insurance (basic category) – 1000.
VAT – 5%.
Real estate for business
Find an office option where you will be comfortable working. A competently designed work area with modern office equipment will allow you to adequately solve the tasks of establishing and promoting your own business model. Pay attention to the busy multi-storey areas of Dubai, where life is in full swing, and the profits of companies are breaking records. If you are positive and have a thick investment portfolio, then these offers will definitely interest you.
Uptown Tower – is an amazingly beautiful high–rise building that is planned to be built in the elite Uptown Dubai area. Residents of 227 companies of the world’s leading corporations will find comfortable shelter in this 81-storey architectural fairy tale. Everything you can only dream of will be here:
- ultra-modern apartments and offices;
- restaurants for discerning gourmets;
- spas with healing treatments;
- stores where the goods on display are only of luxury class categories.
Here, after a grueling day of work, you can take a relaxing pool, and then climb to the observation deck and drink a cup of hot coffee, looking at the distant sea horizon drowning in a scarlet sunset.
One JLT – is an architectural diamond in the field of ecological construction. The 14-storey building was built according to the highest quality standards. In this office and retail giant, framed by expensive glass, you can always do business with an indispensable pleasure. For effective work, the entire space is equipped with the latest technology, you can even pray in special rooms here, and a high-speed elevator is installed in the mine for operational pastime. Such infrastructure provides people with comfort and relaxation. The lobby and the front hall are paved with marble from floor to ceiling.
Jewellery and Gemplex – is a business center for the elite, the best place to adequately support your business. Do not deny yourself the pursuit of the ideal, because these richly furnished and equipped offices of various shapes and sizes are created specifically for people like you – brilliant, ambitious and lucky.
Land plots are a special pride of Dubai. The soil here is so fertile that, thanks to multibillion-dollar investments, skyscrapers rise up like stone-loving plants. Don’t miss your chance to invest in this fragrant oasis of civilization.
You will be recognizable in every point of Dubai if you open a retail store in the JLT area, the territory of branded goods and services. If you want, there will be platforms for any type of business at your disposal. You do not exchange for trifles, are you a follower of plans that smell of gold and currency? Then renting a retail space in the heart of an invaluable metropolis is your option. To implement the most daring solutions, use modern warehouse terminals with an area of up to 700 m2. Customs clearance and cargo handling services will also be available to you. Prove to the world how strong your ego is, coupled with perfectly thought-out logistics.
Shared office space
For business people who put modesty at the forefront, blocks of office premises with a size of 20-26 m2 are offered for use. Ultramodern offices are located in the center of a developed infrastructure and can accommodate 2-3 employees.
Life in JLT
Jumeirah Lakes Towers (JLT) is a mecca for daring representatives of the business world who are ready to turn the world around by finding a foothold. Recreation and leisure at the highest level, luxury hotels, restaurants with excellent cuisine, shops with exclusive goods – these are the advantages that JLT is famous for. Here, as if someone scattered emeralds, parks are spread out and majestic skyscrapers stand, piercing the sky. There is nothing to look for in this unique area – everything is nearby, just stretch out your hand. Within walking distance – beaches, metro, airport. A thriving community can afford any whim.
Services and amenities
- 300 food and industrial goods stores;
- more than 460 hotels and restaurants;
- about 200 children’s and educational institutions;
- about 350 beauty salons and fitness centers.
- An open–air cinema is a cinema of the 21st century. The best works of art for successful people in the realm of warmth and sunshine today, here and now.
- Children’s football is the No. 1 sport in the guise of early youth! Future legends are born in the fields of JLT.
- Sports events are held so that every resident of Dubai has a heroic body and spirit. A healthy business climate is strong for a healthy nation!
- Festive celebrations provide a festive mood. Business – time, holiday – space.
- Carnival JLT. No need to go to Brazil when the merry carnival is under your windows. You will not be sad, plunged into the atmosphere of joy and good jokes.
JLT Bazaars are rich open–air markets. It’s worth a look. You can’t leave here without buying. JLT bazaars is a self-made tablecloth of generous Dubai.