DMCC Free Economic Trade Zone was established in early 2002 as a multi-profile FEZ. DMCC is a single business platform, which unites various types of economic and commercial activities related to raw materials and goods (petrochemicals, precious metals, coffee, cotton, tea, etc.) In addition, companies providing related services – restaurants, shops, beauty salons, etc. – can be registered in the FEZ.
Moreover, the confidentiality of this jurisdiction cannot be overlooked: personal data of directors and shareholders and information about the company are available only at the request of lawyers, journalists and state authorities.
FZ LLC can be registered by one or more founders. The minimum number of directors is one (no residency requirements). Minimum number of shareholders – one, maximum – fifty. There are no residency requirements for shareholders as the DMCC allows 100% foreign ownership of the company. The exception is the pharmacological business. In this case, the UAE Ministry of Health will require a national shareholder to issue a No Objection Certificate (NOC).
Trading License
The licence allows a company to trade in the products specified in the licence. It is also possible to register a company with a General Trading Licence, a licence that allows the company to trade in all types of products allowed in the free zone.
Service License
Allows the company to provide the services specified in the licence, as well as to carry out consulting activities.
Industrial License
Mainly for gold processing companies.
The company’s charter capital requirements for each of these licences may vary: from AED 50,000.
One of the obvious advantages of registering a company in DMCC is that DMCC Free Zone companies are subject to corporate tax at the rate of 0%. It is the absence of corporate tax that is a strong argument for many investors when starting a company in this free zone. When doing business with residents of the UAE and countries belonging to the Cooperation Council of Arab States (Bahrain, Kuwait, Oman, Qatar, UAE, Oman, Saudi Arabia), a VAT rate of 5% is applied.
1. Selection of the name of the company (it is required to propose three possible variants) and preparation of the necessary documents:
2. Filing of an application, which approves the name of the company for the specified type of business as well as its corporate structure.
Registration of a company in the DMCC Free Zone takes 30 working days from the date of filing the documents
Any company in DMCC must submit an annual audit report, even if no commercial activity has taken place.
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