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.   

The DMCC has become the most popular free zone in the UAE due to its functionality for the entrepreneurs. This freezone offers multiple facilities and benefits to new entrepreneurs. DMCC is famous for its strategic locations, well-developed area, nearby functionality, and many more. This has become the hub for many business setups. If you are also planning to start a DMCC free zone business setup, then stay connected with the Flyingcolour Business Setup for a comprehensive guide to starting a business in the DMCC free zone. 

Explanation of DMCC Free Zone

The DMCC free zone refers to the Dubai Multi Commodities Center, which offers the best opportunity for setting up new businesses in the UAE due to its well-planned infrastructure, multi-purpose location, and good office spaces. DMCC Free Zone offers 100% foreign ownership, which seems very profitable for new business setups. It focuses on four major sectors: 

• Precious commodities
• Steel & Metals 
• Energy 
• Agriculture commodities 

This is not the end here because DMCC offers 600+ business activities. 

What are the Exclusive Benefits of the DMCC Free Zone Business Setup? 

DMCC free zone gives multiple benefits to business setups and entrepreneurs, let's see: 

• 100% Foreign ownership 
• 0% personal income tax 
• World-class infrastructure 
• No currency restriction 
• 100% repatriation of profit & capital 
• Leading hub for AI innovation 
• Starting a Business in DMCC Free Zone 

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.

Flyingcolour Business Setup is a well-known business setup consultant in the UAE that helps entrepreneurs and new businesses to set up properly in Dubai, including the DMCC free zone area. We help you to fulfill all the legal and administrative requirements for setting up the business. We make the business setup process very simple and easy for you.

Let's see how we assist you in setting up a business in the DMCC free zone:

Expert Business Consultation: We give you the right and beneficial consultation that meets your needs. We will help you select the right business for you, which will give you profit in the future. 

Handle all the processes: Our team handles all the processes from start to end. In this, we include online business approval from ongoing compliance and renewal requirements. We also help you to fulfill your bank requirements. 

Visa Services: We also provide you with visa & PRO services. If you want any type of visa for your business, then you can also contact us. In this, we include: 

• Visa applications for investors and employees 
• Emirates ID 
• Medical test coordination 
• Visa renewals & Cancellations 
• Family visa sponsorships

Ongoing Compliance & renewal Support: Our team not only helps you to set up the business, but also helps you in an ongoing process and compliances you face during the business. We also offer you renewal support for every document. It means if your document has been expedited, then we will renew it. 

Banking & Financial Setup: We also provide the service of banking and financial setup, like opening a corporate bank account or providing all the required documents to the bank. All the work is done by us. We also provide the setup of a merchant account. 

As we have discussed the comprehensive guide to business setup in DMCC free zone and for that you have to need multiple requirements. During the entire process, Flyingcolour Business Setup handles all the weight of your workload on its own. Yes, we are the one-stop solution for your business setup. We provide all the services related to business setup in Dubai, including approval, submitting documents, opening a bank account, selecting an office, and many more. 

Q & A for Comprehensive Guide to Starting a Business in DMCC Free Zone 

Q. What type of business can we start in the DMCC Free Zone? 

Answer: There are 600+ business activities allowed in DMCC, but the majors are: 

• Trading 
• Consulting services 
• Technology & software development 
• Media & marketing 
• E-Commerce 
• Crypto etc. 

Q. What is the Duration of Starting a Company in DMCC? 

Answer: Approximately 2-4 weeks can take for starting a DMCC company, but only if the size of the business is normal. If the size of your business is large then it needs more time to start.  

Q. How many Free zones are available in Dubai? 

Answer: There are a total of 30 free zones available in Dubai, including DMCC. All free zones' multi-functionality for business setups in the UAE. 

Q. Can we operate multiple businesses under one license in DMCC? 

Answer: Yes, you can easily operate multiple businesses under one license in DMCC, but only if the activities or businesses are related to each other. Unrelated business needs a new license and approval. 

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.