Dubai Multi Commodities Centre (DMCC)
Dubai Multi Commodities Centre (DMCC) is a thriving free zone that was established in 2002 by the Dubai government. It is also known as the ‘Global free zone of the year’. DMCC is a dynamic waterfront community with designated areas and is the licensing authority for any business operations in Jumeirah Lakes Towers. Businesses that operate within DMCC enjoy a free zone status, making it a mixed-use freehold development in Dubai. DMCC offers a wide range of attractive residential and office towers, leisure hotels, and retail outlets, comprising a total of 79 towers, out of which 3 towers are developed by DMCC. These towers are known as Almas, AU, and AG towers. Almas tower, which is located on the island in the centre of the community, is considered the focal point of development. It houses the renowned Dubai Diamond Exchange as well as DMCC member businesses in the diamond, gold, energy, and commodities industries.
Dubai Multi Commodities Centre (DMCC)
- DMCC, also known as the 'Global free zone of the year,' is a dynamic waterfront community with designated areas, established in 2002 by the government of Dubai.
- DMCC authority is the licensing authority for any business operations in Jumeirah Lakes Towers, making it a mixed-use free zone and freehold development in Dubai.
- DMCC offers attractive residential and office towers with leisure hotels and retail outlets, including a total of 79 towers, out of which 3 towers are developed by DMCC.
- The towers are known as Almas, AU, and AG towers, with Almas tower situated on the island in the center of the community, recognized as the focal point of development.
- The tower houses the popular Dubai Diamond Exchange, as well as 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, making it a prestigious project and one of the most recognized addresses in Dubai.
DMCC Licensing Criteria
To qualify or retain licenses from DMCCA, the 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, with 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.
DMCC offers the following forms of registration:
- Branch of foreign company or a UAE company
- DMCC Limited Liability Company
- DMCC offers 100% foreign ownership to its investors, and DMCCA operating regulations preside over the core and non-core companies in DMCC.
Basic Features of DMCC Company Branch Office
- A branch is usually an extension of the parent company.
- The 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 financials 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.
Setting up a DMCC Free Zone Company
At Highgate Business Management Consultant, we have years of experience helping clients establish their companies in the Dubai Multi Commodities Centre or DMCC. It provides for a great address, being conveniently located off Sheikh Zayed Road in Dubai, and having its own metro station. Apart from being well-connected to the rest of Dubai, it also provides a host of other advantages as well, and you too could benefit from having an office in the Dubai Multi Commodities Centre free zone.
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