Dubai Multi Commodities Centre (DMCC) Company Formation
Introduction – Free Zone Focus
The Dubai Multi Commodities Centre (DMCC) was created by the government of Dubai in 2002 to provide the infrastructure needed to enhance the trade flows of commodities such as diamonds and stones, energy, gold & precious metals, tea and energy through Dubai.
The mission of DMCC is to establish Dubai as the global leader in the trade of commodities. Today Dubai one of the world’s top three commodities trading centres and the largest free zone in the UAE, housing over 8,700 companies. DMCC’s registered companies range from global giants and well-known regional industry players to small–medium sized enterprises and start-ups. DMCC is the biggest and fastest growing UAE free zone. An average of 200 new companies join DMCC every month.
DMCC is rated “A” by Standard & Poor’s, making it the first Dubai free zone and the second in the UAE to receive a full rating from the world’s number one provider of credit ratings.
Gold and Precious Metals Industry
DMCC supports the gold and precious metals industry by bringing together key international and local industry players. The result is the achieving, not only of high profitability, but the highest worldwide standards for gold and precious metals products. Dubai’s location, shipping facilities, air cargo facilities and access to a huge consumer demand appeals to key players of the gold and precious metals industry.
Diamonds and Coloured Stones Industry
DMCC is establishing Dubai as one of the world’s leaders in rough and polished diamond trading. DMCC operates its diamond section, the Dubai Diamond Exchange, based in the Almas Tower, within global industry standards. An example of this is the implementation of the Kimberley Process Certification Scheme (KPCS).
DMCC facilitates and supports all activities in the diamond industry’s supply chain, from refining, manufacturing, certification, promotion, selling and shipping. There are strong alliances with other players in the industry, such as government departments, shipping companies, recruitment companies, advertising companies and technological experts, all providing valuable business connections and enabling unlimited business opportunities.
Competitive Advantages: Why DMCC?
- 0% personal and corporate tax
- 0% capital repatriation
- 100% business ownership
- Zero currency restrictions
- The biggest and fastest growing free zone in the United Arab Emirates
- Global recognition in the commodities industry – “A” rating by Standard & Poor’s
- Prime strategic business location of global significance
- Complete range of facilities to support refining, manufacturing and trading of commodities
- Continuous innovation of products and services
- Regulated and secure business environment – global “best practice” procedures
- 8,700 companies
- Freehold property
- State-of-the-art properties for lease of purchase
- Alliances with industry players enabling unlimited business opportunities
- Business networking events and online networking tools
- Provision of investment tools, eg Shariah compliant hedge funds
- Access to trading platforms, eg Dubai Gold & Commodities Exchange
Dubai Multi Commodities Centre Contact details
Almas Tower, Floor 1,
Jumeirah Lakes Tower,
PO Box 48800
Tel: +971 4 424 9600
Local: 800 3622
Fax: +971 4 390 3897
Sunday – Thursday
8:00 AM – 5:00 PM
Ahmed Bin Sulayem
Chief Executive Officer
Dubai Multi Commodities Centre Free Zone Company Registration Process
To set up a new company fast and efficiently in DMCC Free Zone, clients need to carry out the necessary procedures via the DMCC portal and follow the 4 simple steps below:
||DMCC Free Zone Actions
|Step 1: Submit initial request via www.dmcc.ae or call +9714 424 9600 / email firstname.lastname@example.org||Contact the client and send a login||1 working day|
|Step 2: Fill in company registration details on DMCC portal and pay application fee of AED 1000||Send confirmation of pre-approval to client||Up to 10 working days|
|Step 3: Complete the payment and go to DMCC with original documents or attested documents||Send provisional registration and bank letter to client||3-5 working days|
|Step 4: Upload requirements for license||Issue Certificate of Registration and license||2-4 working days|
Documents Required in each Stage of the Registration Process
|Documents required||Original / Copy||Comments|
|Pre-approval and Reservation of Company Name|
|Passports of company shareholders, directors, manager, secretary, legal representatives with UAE visa page||Copy||Visa page only for UAE residents|
|Company Registration Process
|Know Your Client (KYC) form for each shareholder, director, manager, secretary, legal representative||Original||Complete forms and sign|
|Business Plan||Copy||Required for certain activities only. See guidelines|
|Passport of each shareholder, director, manager, secretary, legal representative with UAE visa page||Original||Copy of visa page required for UAE residents.|
|Letter of No Objection from sponsor for each shareholder, director, manager, secretary, legal representative||Copy||Applies only if holding UAE visa from another sponsor. Copy accepted if presented on company letterhead, signed and stamped|
|Specimen signature form for each shareholder, director, manager, secretary, legal representative||Original||Signed in the presence of a DMCC Member Service Executive or notarised|
|Proof of permanent home address of each shareholder, director, manager, secretary, legal representative||Copy||Recent utility bill (or similar) not older than 6 months showing home address. For tenants confirmation letter signed by the landlord is required and the passport copy|
|Shareholders’ Resolution||Original||To be signed in the presence of a DMCC Member Services Executive or Notarised and Attested by the UAE embassy or by apostille. See templates.|
|Memorandum & Articles of Association||Original||To be prepared by DMCC then signed in the presence of a DMCC Member Service Executiveor notarised|
|Undertaking letter for share capital deposit||Copy||See templates|
|3rd party approvals from relevant authorities||Original||For certain activities. See list of authorities (3rd Party NOCs) on DMCC website|
|A. Leased property Valid property lease agreement covering the license period and evidence of property ownership – either a title deed or current dated certificate of ownership OR DMCC flexi desk office contract (subject to approval)B. Owned property under the same DMCC company name Evidence of property ownership – either a title deed or current dated certificate of ownership||Original||Original documents needed for verification by a DMCC Member Services ExecutiveTenancy agreement to be in reserved company name, be valid for at least one year from the date of submission, and mentioning the size/ area and location of the office. If more than one purchaser, both owners must sign lease agreement. If owned property, the title deed or the current dated certificate of ownership must be under the exact same DMCC company name|
|Certificate of Conformity (COC) & Stamped unit fit-out drawings issued by Concordia DMCC||Original||Applies for retail and industrial activities only|
|Bank Share capital deposit confirmation letter||Original||For share capital AED 500,000 and above|
|Following Receipt of License|
|Certificate of Conformity from Concordia||Original||For offices|
|Bank share capital deposit letter or bank statement reflecting the deposited amount||Original||Up to 3 weeks from licensing|
|Sample company letterhead with stamp||Original||With new DMCC company name|
|Share certificate/s with company stamp||Copy||All copies|
|Letter appointing external auditor||Original||On auditor company letterhead|
Dubai Multi Commodities Centre Free Zone Company Formation Fees
- Application fee: AED 1,000
- New company registration fee: AED 9,010
- Standard – Trading and Service – License fee: AED 20,010
- Preparation of Articles and Memorandum of Association fee: AED 2,010
Dubai Multi Commodities Centre Services
- Registration of companies
- DMCC Service Centre
- Issuing of licenses
- Visas and immigration
- DMCC eServices
- DMCC Member Zone
- DMCC Networking and Social Events
- DMCC Knowledge Series
- Compliance & rules and regulations
Registration of Companies
DMCC registers limited liability companies and branches of foreign or local companies.
For a limited liability company, DMCC requires at least one shareholder and at least one director. The minimum share capital is AED 50,000 for each company.
DMCC Service Centre
DMCC Service Centre was created in order to offer all the services involved in registering and managing a company at DMCC Free Zone under one roof. DMCC Service Centre is located at Almas Tower (Level 1), Jumeirah Lakes Towers, New Dubai.
Services provided by DMCC Service Centre:
- Access cards
- Property leasing and purchase
- Serviced offices and flexi desks
- Office fitting
- Phone lines, telecoms
- Car hire
- Insurance services
- Advisory services
- Compliance and regulations advisory
- Salary certificates
- Planning and approvals
- Land development
- Advertising and signage
DMCC issues licenses for a wide range of business activities. Three types of licenses are issued: Trading, Industrial and Service which cover over 450 DMCC company activities.
Categories of Permitted Business Activities at DMCC:
- Mining and quarrying
- Electricity, gas and water
- Trading and repairing
- Hotels and restaurants
- Transport, storage and communications
- Financial services
- Real estate and business services
- Health and social work
- Other community, social and personal services
Dedicated staff at DMCC Service Centre help clients with the following administrative procedures regarding licenses:
- Issue of license
- License renewal
- Amendments to licenses
- Amendments to registrations (change in share capital or share transfer etc)
Support is provided for the administrative procedures involved in the issuing of visas and immigration matters:
- Issuing of visas
- Visa services (visa types, cancellations, transfers)
- Immigration services
- Issuing of ID cards
- Letter services (NOC’s, salary certificates etc)
- Other services
DMCC eServices provides 24/7 secure access to its eServices clients for a broad range of services via the DMCC Free Zone Member portal.
DMCC Member Zone
DMCC Member Zone provides clients with an online platform for communicating useful information, sharing useful documents, latest developments rules and regulations, upcoming events and more.
DMCC Networking and Social Events
DMCC staff regularly organise networking and social events paving the way for business opportunities and the sharing of expertise between DMCC’s clients.
DMCC Knowledge Series
DMCC Knowledge Series offers its clients a series of workshops, seminars and lectures often delivered by well-known industry experts.
DMCC has set up a variety of clubs and associations to help members socialise and interact in their free time.
Compliance & Rules and Regulations
To make sure that all procedures are in line with laws and regulations, DMCC has a dedicated compliance and inspection team.
DMCC emphasises the use of international best practices and ethics. Therefore its regulatory system is of the highest standard and is an important aspect of its provision of services and products.
Dubai Multi Commodities Centre Products
- Silver Business Centre (SBC)
- CORE Commercial
DMCC offers a wide variety of commercial and residential properties which are available for rent or purchase.
Features of properties:
- Variety of office types to suit size and activity of business
- Commercial sales or leasing of property
- Very competitive prices
- Prime real estate centrally located next to Sheikh Zayed Road
- Advanced infrastructure
- Easy access to seaports and airports
DMCC’s own properties:
- Almas Tower
- Silver Tower
- Gold Tower
- Jewellery & Gemplex
- Plots of land
- Retail centres
- Business centres – with various office types
DMCC’s dedicated sales personnel are at the disposal of clients to help them select the facilities best suited to the clients’ needs and the business type and activities.
Silver Business Centre (SBC)
DMCC’s Silver Business Centre provides a prime business address (AG Tower) matched with excellent support services. Clients with offices in the Silver Business Centre enjoy a first class working environment, highly advanced technology and modern facilities.
CORE Commercial is DMCC’s partner in real estate brokerage. DMCC’s clients are provided with support in finding the ideal office and retail facilities within DMCC to suit their needs. CORE’s dedicated personnel are housed in Almas Tower and they are highly experienced in purchase, leasing and the management of retail, commercial and industrial properties.
Concordia is a well-known provider in the field of Integrated Facilities Management and is DMCC’s partner. Together with DMCC’s team, Concordia’s 700 members of staff provide a wide range of quality FM services for commercial and residential properties.
Dubai Multi Commodities Centre Major Clients
- American Express
- Conoco Philips
- Harley Davidson
- Louis Dreyfus
- Debeers Diamdel
- Rio Tinto Alcan
- Nutricia Danone
Information to download:
DMCC Corporate Video