What is the meaning of DMCC in Dubai?
, commonly known as DMCC is the largest and most recognized free zone in UAE. DMCC was established in the year 2002 in the heart of Dubai on the lakefront of Jumeirah Lake Towers (JLT) district. It is just minutes away from the Jebel Ali Sea and Air Ports and The Logistic Corridor.
The free zone opened trade corridors for diamonds, precious stones, jewelry, and energy commodities trading through Dubai. According to Standard and Poor’s, The Dubai Multi Commodities Centre free zones credit rating is an “A” indicating that the commitment to meet its obligation is excellent. DMCC is one of the fastest growing free zones of UAE.
In a period of few years – DMCC has received accolades like ‘Global Free Zone of the Year’ seven times by The Financial Times | fDi magazine. With boundless opportunities, DMCC has more than 21,000 entities in its district and is still growing. It is one of the world’s most recognized and interconnected free zones of UAE.
People prefer the DMCC free zone to take their business to greater heights because of three main reasons
· Access to global markets
· World-class resources
· Opportunities to expand
The international economic environment has been challenging and recovering post Covid, but The Commodity Trade Index shows that the country continues to be a leading global trade hub. Building on this, the free zone focuses on the ease of trade by encouraging the commercial ability the UAE possesses.
· Trading license
· Industrial license
· Service license
The UAE government does not levy additional taxes on the stakeholders investing in the Emirates, which makes the business setup process seamless. The United Arab Emirates is among the top commodity trading hubs of the world.
· Precious stones
· Steel & Metals
The primary goal of forming the DMCC free zone was to create an extraordinary working environment for companies that invest in commodity services. DMCC offers class-apart services hence they maintain strict legislation procedures harmonized with international policies.
Foreign companies can benefit from picturesque infrastructure, financial service support and real estate services. Business owners venturing out in the free zone can avail advantages like registration and licensing services, work permits, immigration facilities and customer care assistance.
Being one of the fastest growing free zones in Dubai, the Dubai Multi Commodities Centre makes it an excellent choice for entities operating in the trade sector. If you are an entrepreneur/ investor looking out to , you can operate in an array of industries which include:
· Import and export of commodities within DMCC (free zone companies can only run businesses in the economic zones they are set up in)
· Warehouse and storing activities (DMCC provides generous and spacious warehouses)
· Logistics activities that apply to both national and international transportation of goods
· FMCG activities that involve the wholesale and retail sale of various commodities within the free zone
· Allows an investor to obtain a dual license.
· Specialized activities that are related to trading of precious metals like gold, silver and more require special license in Dubai mainland
· Commercial activities in the Dubai Gold and Commodities Exchange, a subsidiary of DMCC.
· One of the two free zones that allows crypto commodities trading.
You can now acquire your crypto license in the DMCC Crypto Centre. It is a thriving crypto currency ecosystem that has become the primary provider of crypto licenses for businessmen and entrepreneurs.
“The DMCC crypto license offers you the ability to conduct crypto-business related activities such as crypto software development, crypto management, crypto trade and crypto consulting among other forms of crypto services.”
The Dubai Multi Commodities Centre
Businesses formed in the DMCC free zone benefit from:
· complete foreign ownership
· 100% capital repatriation
· 0% corporate and personal income tax
· no tax on import and export duties
· strategic location
· world-class infrastructure with secure and guaranteed work environment
· bank account services
· lifetime investor visa and work permit for employees and shareholders
· own real estate properties in the DMCC
No matter the type of activity you plan to do in Dubai Multi Commodities Centre Free Zone, Bizgate team of professionals will help you with the complete setup procedure. From documentation to the license process, our talented experts will always cater to your doubts.