April 03rd, 2024

Step-by-Step Guide to Establish Your Business in DMCC Free Zone

Step-by-Step Guide to Establish Your Business in DMCC Free Zone

Thanks to the liberal economy and a government always keen on helping businesses thrive in the city, Dubai has evolved to become Middle East’s major trading capital. Another factor that makes Dubai one of the most amazing destinations for all foreign business owners is its attractive cosmopolitan culture. The special economic zones like DMCC or the Dubai Multi Commodities Centre were incorporated by the UAE government as an initiative to attract more foreign investment.

Some of the key segments that are present under the DMCC free zone are metals, minerals, cotton, tea, diamonds, gold, pearls, and commodities.

Here is your step-by-step guide to launching your start-up setup business in DMCC free zone of Dubai.

The Key Documents that You Need for Pre-Approval of DMCC Free Zone

• Photocopy of passport

• Photocopies of your Emirates ID and your UAE residence visa

• Sponsor-issued NOC

• A summary explaining your future business plans

• Third-party approvals

• Your physical office address in the DMCC free zone

• Proof of your residential address in Dubai.

• All the documents for your parent company

What information you have mentioned in the application will determine the documents that will be asked from you for a start-up company in Dubai.

The Systems Generated Forms and Letters

• The KYC form of all your managers or legal representatives or directors, or shareholders.

• HR Signatory letter of appointment

For setup business DMCC free zone, the jurisdiction will offer a reservation for the company name and the approval application within 5-10 working days.

Easy-to-Follow Steps for Starting a Business in DMCC Free Zone

For your ease and quick DMCC free zone company setup in Dubai, here are some of the comprehensive step-by-step guides that you can adhere to.

Decide Your Business Activity and Your Company’s Legal Structure

To begin with, you have to determine the business activity and the type of legal structure for your company which can either be a Free zone Limited Liability Company, a branch of a certain company, or a free zone establishment.

Submit the Key Documents

In the following step, you re needed to submit some of the key documents for the setup of the DMCC free zone company. This comprises an important step. mentioned documents to be submitted:

• The signed application forms.

• NOC, if you happen to be a UAE resident.

• Comprehensive details about your shareholders

• Photocopies of the passport

• Company’s address proof

• Bank share capital letter

• Lease agreement if you want a physical office address

• Regulated activities; third-party approvals.

For your company, you need to get a DMCC-friendly auditor appointed, the moment you get the business license.

Obtain the Lease Contract from The Respected Authorities

Once the paperwork is all verified along with all the application forms that you had submitted for setup business DMCC free zone, it is time for you to obtain the lease contract from the respectable authorities along with the business license. All of this should be in line with the approach you are adhering to for your business license and paying the needed cost.

Look for the Easiest Office Solution to Maintain the Business License for DMCC

To maintain the business license for the DMCC start-up company in Dubai, the businesses should either opt for Flexi-desk rental or a physical office address within the DMCC. How much the company formation will cost is determined by what office solution you have selected. The size of your office facility has an impact on the company’s visa eligibility.

DMCC Licensed Businesses Should Make Sure the Employees Are Authorised to Work

The companies that come under the DMCC license should check if their employees are authorised to operate and perform their business activities in the DMCC free zone. You can only ensure this if they possess an employment residence visa, an access approval, or an ID. The validity for a DMCC employment residence visa is 3 years.

How is Setting up Your Business in DMCC Free Zone Beneficial?

The important perks of setting up your business in DMCC free zone are:

• Complete ownership of the overseas company

• 100% personal and corporate income tax exemption

• Total capital repatriation and business earning retention

• Simple licensing procedure for a plethora of business activities

• Easy availability of lease and sale alternatives

• Networking scopes like workshops, exhibitions, and events

• No restriction on currency

You can get in touch with dubaibusinesssetup.ae to facilitate the process of starting a DMCC free zone company. The company is a recognised consultant agency by the DMCC jurisdiction which also takes pride in having the right kind of expertise and for having launched a multitude of companies in the free zone. The experts working in the company ensure that you get to focus on your company completely, while it takes care of all other administrative aspects.

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