The Dubai Multi Commodities Centre(DMCC) is a free zone in Dubai that enhances trade across various commodity groups. The free zone offers tax-free facility to several companies within the same premises. In addition, several key business sectors like gold, diamonds, tea, pearls, gold and base metals are facilitated by the DMCC. Add to that the fact that it has a strong and active local and international community of businessmen and top officials. Your options for conducting your trade as part of your supply chain management in the region seem limitless.
If you are planning to setup your business in Dubai, then you can choose DMCC as a base for your business that provides the advantages. In this article let’s shed some light over the benefits of company formation in DMCC.
The Dubai Multi Commodities Centre (DMCC), established in 2002, is one of the leading global commodity trade hubs. It is a free zone in Dubai, UAE and provides complete ownership of businesses to foreign investors. Commodity trading is one of the most profitable industries globally and is important for businesses as well as individuals. DMCC offers many benefits for those looking to set up their businesses here such as 100% direct tax-free, full capital repatriation, simple licensing procedures, ‘plug and play’ office installations, strategic location and flexible office solutions.
These are the main Company formation in DMCC
- Complete ownership of business
- 100% direct tax-free
- Full capital repatriation
- Simple licensing procedures
- ‘Plug and play’ office installations
- Strategic location
- International commodity centre
- Flexible office solutions
If you’re planning to Company formation in DMCC, it’s essential that you understand the business licensing requirements. These regulations protect the businesses and help them operate within the legal framework.
The license you can apply for depends on the type of commercial activity you want to do. There are two types of licenses – General Trading License, and Service License.
A General Trading License gives Permits the import, export, distribution, consolidation and storage of products, excluding a few.
And Service License Gives authority to engage in service or consultancy activities that are specified in the license.