Establishing a company in Dubai, DMCC

Steps Establishing a company in Dubai In the Dubai Multi Commodities Center, investors and businessmen are looking for it, so if you are someone who wants to< a i=3>Establishing a company in the Dubai Multi-Commodity CenterIt is one of the most important free zones in Dubai for establishing projects. The region has many advantages that make it the ideal choice. In this article, we discuss the steps for establishing a company in Dubai. (Dubai Multi Commodities Centre).

 

Establishing a company in Dubai, DMCC

Steps to establish a company in Dubai

DMCC is one of the most important free zones in Dubai. Located in the heart of Dubai, specifically in the Jumeirah Lakes Towers area, DMCC is considered an ideal work environment for businesses with advanced infrastructure.The Dubai Commodities Center Free Zone is distinguished by its being connected to a modern transportation network, which helps in easy transportation for employees and workers. The government also provides facilities in establishing businesses and provides tax and customs exemptions and full foreign ownership, which makes the region suitable for investors. In the following points, we discuss the steps for establishing a company in Dubai in the free zone (Dubai Multi Commodities Centre)

  • The nature of economic activity

The first stepThe steps for establishing a company in Dubai in the Dubai Multi Commodities Center is to determine the nature of the economic activity that the company will operate in the Dubai Commodities Center and based on the nature of the activity The economic form is determined on the basis of the legal form of the company and the commercial license.Here are the types of economic activities in Dubai: (commercial, industrial, service, tourism, agricultural, craftsmanship).

  • Legal form

To establish a company in the Dubai Commodities Center, the legal form of the company must be determined, which is one of the most important steps in the steps of establishing a company in Dubai. Its importance is because it determines the laws that will govern the company later. The legal forms of companies vary as follows:

  • Solidarity Company.
  • Simple recommendation company.
  • A limited liability company.
  • Public contribution.
  • Special contribution.
  • Commercial representation office.
  • Civil works company.
  • A branch of a local company.
  • A branch of a Gulf company.
  • Branch of a foreign company.
  • Branch of a free zone company.
  • Individual Foundation.
  • holding company.

 

  • Trade Name

According to the regulations of the Department of Economic Development, a trade name must be chosen that is appropriate for and expresses the nature of the company’s activity. This trade name will distinguish the commercial license that the company will obtain. Therefore, it is an important procedure in the steps of establishing a company in Dubai, and it is done in accordance with several conditions as follows:

  • The company’s trade name must express the nature of the company’s activity.
  • The trade name must not contain inappropriate expressions or violate public taste.
  • The trade name must not be previously registered or similar to another company.
  • The company’s trade name must be briefly followed by the company’s legal form.
  • It does not contain the word God or the Most Beautiful Names of God.
  • It does not include the name of a government entity or political logo.

After choosing a suitable trade name, it must be registered with the competent authority “Dubai Department of Economic Development” so that the company owner can receive the payment authorization and transaction number as a document to be used as a reference when making payment.

  • Initial approval

All three previous steps require initial approval from the relevant authorities, and when approval is obtained, the steps for establishing a company in Dubai at the Dubai Multi Commodities Center are completed.

  1. Memorandum of Association and Local Service Agent Agreement

According to the legal form of the company, the articles of incorporation are signed and a local service agent agreement is concluded, which is a necessary step in the steps of establishing a company in Dubai, for all company owners of non-Emirati or Gulf Cooperation Council nationality.

  • work location

One of the most important steps in establishing a company in Dubai is the business location, the address of which will be registered in the company’s documents. The location must be actual and exist on the ground, and there must be a lease contract for the company’s headquarters certified by the relevant authorities.

  • Additional approvals

Some economic activities require obtaining additional approvals from the authorities regulating them. Examples of the authorities concerned with additional approvals in Dubai are:

  • Ministry of Interior.
  • Ministry of Justice.
  • Municipality Department inDubai.
  • The Telecommunications Regulatory Authority.
  • executive board.
  • The Ministry of Economy.
  • Dubai Health Authority.
  • Supreme Petroleum Council.

 

  • Commercial license

After completing all the previous steps of establishing a company in Dubai, the step of obtaining a commercial license comes according to the nature of the company’s activity, after paying the license fees, then registering in the Emirates Chamber of Commerce as a member.Incorporation requirements Company in DMCC

  • Electronic form for requesting initial approval.
  • A copy of the passport, residence visa, and ID card.
  • Residence address in Dubai and electricity or water utility bill.
  • Submit a certificate of objection from the sponsor if you hold a valid residence visa.
  • Submitting a business plan for establishing a company in Dubai.

Costs of establishing a company in the Dubai Multi Commodities Center

Here are the costs of establishing a company in the Dubai Commodities Center Free Zone, knowing that the following costs are not exact costs and vary according to several factors:

  • 1035 AED, paid in one time for the application fee.
  • 9,020 AED, paid one-time, especially for registration fees.
  • 20,285 UAE dirhams annual license fee according to the nature of economic activity.
  • 1825 AED for annual facility card fees.
  • 2020 AED one-time fee for the Memorandum of Association.
  • 3335 UAE dirhams residency visa fees paid every 3 years.
  • AED 3000 insurance fee which will be refunded again.

 

Advantages of the Dubai Multi Commodities Center Free Zone

There are many advantages enjoyed by project owners in the DMCC Free Zone, and these advantages must be familiarized by the investor as well as the steps for establishing a company in Dubai in order to know the advantages that are coming to him that will benefit his project and huge future profits.

  • The government does not impose taxes on companies in the DMCC Free Zone for 50 years from the date of company establishment.
  • Companies in the DMCC Free Zone enjoy full ownership of the company and its assets and the freedom to return capital to the investor’s country.
  • The DMCC Free Zone includes thousands of successful companies of different nationalities and various economic activities, which greatly enhances the investment process.
  • The DMCC Free Zone is located in the heart of Dubai, making it an excellent strategic location for investors and the establishment of various businesses.
  • The Dubai Commodities Center Free Zone has residential units for employees, which helps in working and living in close proximity to each other.
  • The government provides integrated services and flexible solutions to investors to enhance the investment process.

Want to establish a company in DMCC? We are here to help and provide everything you need, starting from the first steps of establishing a company in Dubai, ending with obtaining commercial licenses.We have a team of experts to guide you in completing all the steps of establishing a company in Dubai in the fastest time and at the lowest costs.

This article discussed the steps for establishing a company in Dubai in the Dubai Multi Commodities Center. The steps included 8 necessary procedures for establishing a company or project. We also learned about the requirements for establishing a company in the Dubai Multi Commodities Center in addition to the advantages of the DMCC Free Zone.

 

×

WhatsApp Chat

 

×