Setting Up A Business in DMCC Free Zone

Start a Business in DMCC Free Zone 

Are you planning to start your business in the United Arab Emirates (UAE) but facing difficulties finding an appropriate place? If yes, we recommend you choose DMCC Free Zone for setting up a business. DMCC or Dubai Multi Commodities Centre is a perfect place to start your company because it offers countless opportunities to the retail and commerce industry.  You might be happy to learn that DMCC has been awarded the title of the Global Free Zone of the Year for eight years, providing you with a thriving business community and advantages host. Today, we will discuss the benefits of starting your business in this free zone. In addition, we will give you an in-depth guide to begin your company in this area.   

Benefits of starting your business in DMCC free zone

You can avail countless benefits by starting your business in the DMCC Free Zone. Its benefits make DMCC makes the place a perfect location for you to set up your business. Let us look at the Benefits of DMCC Free Zone:

• If you are a foreigner, you can enjoy complete ownership of your business in the DMCC free zone. Indeed, you have read it right. This Free Zone offers full foreign ownership for your business, eliminating the need for local sponsors or partners.
• You can also enjoy 0% corporate and personal income tax by starting your business in the DMCC as the DMCC Free Zone gives exemptions from corporate and personal income tax. This benefit makes it the perfect location for tax optimization, enabling you to reduce your operational costs. 
• You can begin your business in DMCC without any stress because it offers a streamlined process to start your business. In addition, you need to complete less paperwork and documentation to begin your business here, ensuring a smooth and efficient for your company,
• The DMCC Free Zone is strategically situated at the center of Dubai, giving your business easy access to significant transport links to the Middle East, Africa, and Asia. This makes it convenient for you to connect with the international market and expand your business. 

What documents do you need to start your business in the DMCC Free Zone?

When considering starting your business, you should gather some documents because you need these documents as per DMCC Free Zone regulations. Let us look at the common documents you need to start your business in this free zone:  

• Legal Documents of your parent company
• Lease agreement
• No-objection certificate
• Memorandum of Association
• Complete the Online Application Form
• Proof of your residential address
• Copies of your Passports or UAE residence visa or Emirates ID, if applicable

  Based on other factors, you might want to submit a few more documents. Therefore, we recommend you consult Flyingcolour Business Setup to obtain a complete list of documents you need to start your business in the DMCC .   

What steps do you follow to start your business in the DMCC Free Zone?

If you want to start your business in the DMCC Free Zone, you must prepare to set up your company in this area. The following is the list of steps you need to follow to kick-start your business in the DMCC Free Zone:  

1. Choose your company name

You should kick start the process of setting up a business in the DMCC  by selecting a reliable and suitable name for your company. You should check the availability of your selected name on the official website of the DMCC. Remember, you should choose a name that reflects your business.   

2. Choose your legal entity and business activities

You can choose the nature of your business activities after choosing your company name. Remember, this step is essential because it will help you to determine the type of DMCC Free Zone Trade License you need for your business in DMCC. After choosing business activities, you should select the type of legal entity you wish to create, like LLC, branch office, or FZE.  We recommend you choose a legal entity carefully because each entity has its own benefits.   

3. Apply for initial approval.

Once you have selected your business activities and legal entity, you should move forward to the next step of applying for the initial approval. Here, you should apply for this approval to the DMCC authority. In this step, you should submit the required documents, like business plans, passport copies, and more,  that we have mentioned above in this article.  While submitting these documents and paperwork, you should ensure the necessary paperwork and documents are complete in order to avoid any delay in the approval process. We recommend you seek help from Flyingcolour Business Setup at this step because our team of experts will help simplify this step and ensure everything is in order.   

4. Open your corporate bank account.

Once you have obtained the initial approvals, you must focus on opening your corporate bank account in any bank in the UAE. This bank account is essential for you if you want to conduct business transactions in the DMCC Free Zone. You can also manage and perform overseas financial transactions with the help of a bank account. However, you should select a bank that offers reliable services and meets your business requirements.   

5. Choose a business location

Depending on your business requirements, you should choose a suitable business location. From flexi desk to dedicated office space, DMCC gives you countless office choices to meet company requirements. While choosing your office location, you should consider factors, like staff counts, company type, and privacy needs. In addition, you must follow the office space requirements of the DMCC Free Zone.  

6. Get final approval

Lastly, you should obtain additional licensing approval from other authorities depending on the situation. Here, you should again submit a few other documents. After being accepted, you can start your business in the DMCC Free Zone.  

How can Flyingcolour Business Setup help you?

DMCC Free Zone is an appropriate location for you if you want to start your business in the UAE. Here, you can enjoy several advantages by starting your business. However, you must follow several steps, which might be daunting for you if you are new to entrepreneurship. Flyingcolour Business Setup Services can help you to start your company in DMCC Free Zone. In addition, our experts can help you at each step of setting up your business. To learn more about Start a Business in DMCC Free Zone, book a free consultation with one of the Flyingcolour team advisors. Please note that this article was published on  05/06/2024 by the federal policies and updates at the time of writing. For the latest info please talk to our consultant.