Dubai is undoubtedly considered to be the global gateway to the Middle East, providing opportunities for people to invest in a wide range of business services and infrastructure.
Dubai boasts of having a four-times crowned Global Free Zone and the world’s first-ever free zone, Dubai Multi Commodities Centre (DMCC). Established in 2002 as a government entity in the center of the Jumeirah Lakes Towers district (JLT), it has the sheer aim to make Dubai the most preferred destination for commodity trade flow.
Moreover,
DMCC is not only home to a dynamic community, innovative and state-of-the-art
infrastructure, excellent services, but it also has a spectacular range of
properties to choose from, all of which are just a few minutes away from main
locations.
DMCC in Jumeirah Lakes Towers is a 200-hectare mixed-use free zone that is grouped into clusters each comprising three tower blocks. With 68 towers and the development comprising approximately 180,000 sq/m of commercial, residential and retail space, DMCC is considered to be in a class of its own.
Essential steps to starting a business
There is no doubt that setting up a business in a free zone is quite
easy, however, you have to go through a certain procedure in order to achieve
that.
Whether you want to set up a new company or simply establish a wholly-owned subsidiary in DMCC, the entire process is quick, easy, and clear as the free zone authorities require minimum paperwork and duration. The following steps will help you set up your business in a free zone.
Determine
the type of legal entity
You need to decide which type of license you want and what business
activity you want to conduct. It is really important to know which documents
you require for the process. You can calculate all costs involved by using the
DMCC cost calculator.
In DMCC, the minimum share capital for forming a free zone company is
AED 50,000 per company and AED 10,000 per shareholder. For a company to be
issued a General Trading License, it should have a minimum of AED 1 million
share capital.
Choose a
trade name
Submit an
online registration form. Complete the form, pay the initial application fee of
AED 1,035 and submit your application. After seven working days, DMCC will
complete the company name reservation, management and compliance approval.
Apply for
a business license
In DMCC, you can choose from over 600 business activities ranging from
over 20 sectors such as energy, commodities, gold and diamonds, technology,
construction, FMCG, healthcare, aviation, shipping, education, media,
professional services, financial services and personal and community services.
Apply for that specific business license.
Choose an
office space
You can either buy or lease office spaces in free zones. Office requirements depend on the number of employees and type of business activity of your company.
In DMCC, you can choose from a Flexi desk of 200-300 sq.ft., a Flexi
office of 2000-2650 sq.ft., or offices running through multiple floors with a
total of 20,000 sq.ft. each. Choose a perfect office space. Finally, sign and
submit the relevant documents for your new office space.
Get
pre-approvals, register your business and finally get your license
Make sure
that you pay the registration and license fees and sign legal documents. Within
5 working days, DMCC will issue a provisional approval and bank letter (to open
a company bank account). Finally, after 5 working days, DMCC will issue your
E-License, so you will be ready to do business in DMCC.
There will
be a number of things which you will need before applying:
Online pre-approval application formCopy of your passport, UAE residence visa and a
copy of your Emirates ID Proof of residential address in the country of
residenceCopy of Company documentsThird-party approvals for business activities in
DMCC free zone (required once the company is registered)
How to lease or own a commercial space in DMCC
DMCC
offers a superb choice of properties that can fit any size and type of
business. Owing to 66 towers, you can either opt for fitted space or shell and
core or choose serviced offices that are specially designed for smaller
businesses.
Flexi-desks are
available on a part-time basis while giving your business a full-time physical
address and professional appearance. You can access a number of amenities
including unlimited access to meeting rooms.
Serviced
desks are available for businesses that have full-time staff and therefore
require a dedicated desk. Serviced offices are 215 to 279 sq. ft. and fully
furnished offices that can comfortably accommodate 2-3 people.
DMCC Free
zone also provides fully furnished serviced office spaces that range
from 200 sq. ft. to over 6,000 sq. ft. Facilities such as air conditioning,
electricity or building service charges are included. Each office has 24/7
access with security as well as shared services like reception, kitchen and
free beverages and housekeeping amenities.
DMCC
offers a great working environment in the perfect location at extremely
affordable rates. It is the perfect location to create any business within
reach of thousands of potential clients and the opportunity to work alongside
many global leaders.
1. Full office space
DMCC
offers offices that are strategically located in towers covering most areas of
the Free Zone. These towers offer offices ranging between 100 sq. ft. and 500
sq.ft. in a luxurious environment, having a rent from from AED
30 per sq.ft. for shell and core and AED 40 per sq.ft. for fitted office. All services, such as a dedicated telephone and
fax numbers, internet connection, fully equipped meeting room facilities and
advanced audiovisual technology are usually available, making it an ideal place
to set up your business.
2. Serviced office
For those looking for convenience,serviced offices are available
at affordable prices, with rent starting from AED 2,000 per month, depending on
the size and location of your chosen office. All
offices are fully furnished and equipped with high-speed internet and fiber
optic communications. Moreover, meeting
rooms and boardrooms of various sizes are available for bookings for a time
span of 10 minutes to a full day. You can benefit from 24-hour access and
security; making it the ideal workspace solution for those who want a
convenient environment to conduct their business.
3. Shared space
If you are
on a tight budget, then you can still find a place to start your business. You
can rent workstations in a collaborative space, that allows you access to a
range of excellent facilities and amenities including 24-hour access to Wi-Fi,
copy and printing facilities etc. You can easily find co-working spaces at
quite an affordable price AED 750 per person/month.
It does
not matter whether you are an existing member company or a prospective new
business owner, the DMCC Free Zone offers support at every stage of your
business journey. This guide will definitely help to provide you with all the
necessary information, tools and resources that are required in the building of
your business.
If you are looking for a commercial space in the DMCC area, then do not hesitate to contact us. For any further questions, assistance, or a fast quote, you can call our help center at 04 409 0958 between 8.30 am to 5.30 pm from Saturday to Thursday. We promise to help you find that perfect property for you and guide you through every step, to get you all set up.
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