Dubai Multi Commodities Centre

Features of the company in the DMCC free economic zone:

the fastest growing free zone in the UAE;
DMCC won the “Global Free Zone of the Year” award two years in a row;
it is suitable for trade in various goods, including such industries as energy, agriculture, jewelry;
no taxation;
no exchange control;
high level of confidentiality. Closed list of directors and shareholders, which can be disclosed only by a court decision;
each company has the right to minimum three resident visas;
convenient location on Sheikh Zayed Road in Dubai;
availability of various offices;
a fairly large range of permitted activities.

Type of company in DMCC:

Limited Liability Company (LLC);
Representation (Branch).

License type DMCC:

Trade license;
Service license;
Production license (there is an opportunity to obtain a general Trading License);
Family office is for asset management or family business.

Authorized capital:

The minimum authorized capital is AED 10,000 per shareholder. It must be paid within three weeks from the date of registration. In the event that the shareholder submits documents for a visa, the authorized capital must be at least AED 50,000 per shareholder. Mandatory introduction of the authorized capital is required within 3 weeks from the date of obtaining the license. A General Trading License requires an authorized capital of AED 1,000,000 (USD 274,000).

Company’s office in DMCC:

A variant of the so-called virtual office (flexi-desk) is possible. A virtual office is not allowed for the companies that have more than one license or companies that have a General Trade License. Serviced desk is the option that is suitable for the companies with hired employees who do not have the opportunity to rent an office. There are solutions that allow to rent a shared space in coworking. The rent of a real office (from 54 sq. m.).

Visas: companies with a virtual office are entitled to 3 visas. Companies with a real office - for 5 or more visas.

Authorized capital in DMCC:

The company is allowed to have an individual or corporate shareholder (maximum 50 shareholders).

Director in DMCC:

The director in the company can be only a natural person. A company may have from 1 to 6 directors.
A manager is necessary - maybe one of the shareholders or directors.
There are no requirements for the residency of the director and manager.

Reporting and audit in DMCC:

Companies should keep records, but they are not required to file it. The audit report should be submitted once a year, after the license is renewed.