Company Set Up in DMCC

Company Set Up in DMCC

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Company Set Up in DMCC

Dubai is known as the business capital of the Middle East thanks to its liberal economy and a Government which is progressive in thought. Its cosmopolitan culture also makes Dubai attractive to foreign entrepreneurs for Company setup in DMCC.

To encourage more foreign investment which they realized would be the driving force for the economy, the government established several special economic zones in Dubai called Free Zones, with more liberal regulation and minimal taxation. Let us take a brief look at one of these special zones, the Dubai Multi Commodities Centre or DMCC.

Started in 2002, the DMCC was incorporated under the legislation passed by the Chairman of the PCFC on 01.05.2002. Company formation in DMCC can be in one of these segments: commodities, gold, pearls, diamonds, tea, cotton, minerals and metals. The business will be incorporated as a DMCC company, with the minimum capital specified at the time by the DMCC authorities.

Advantages of Company Set Up in DMCC :

Company Set Up in DMCC is easy, these are the steps

Once your business Set Up in Dubai or Dubai Multi Commodities Centre, you gain access to a broad range of ancillary services from the Zone authorities like international courier services, commemorative certificates, insurance schemes for health, employee compensation and third party liability, exclusive credit cards for members of DMCC, and more.

The DMCC will also be starting a tech hub to help startups to function in a collaborative atmosphere among likeminded business people, with negligible upfront expenses. This round the clock tech hub will have offer training, workshops, a programmers’ ‘coding cave’, and more.

To provide easy access to the central registry of ownership for stored commodities in Dubai, an electronic system called the DMCC Tradeflow was started in 2012. Its main intention was to encourage commodities trade by providing more security to both warehouse owners and traders through various methods. The online platform also provides a secure platform for e-trading, accessible from anywhere in the world.

Any business consultants in Dubai will tell you that company formation in DMCC means being part of a vibrant and fast growing economy; so make full use of it!

Here is an infographic that accompanies the article about Company Set Up in DMCC:

Kreston Menon Corporate Services (KMCS) has been providing professional incorporation services to business enthusiasts globally for over two decades. Being among the leading consultants in the UAE , our experience and knowledge of the regional and global market help us provide the best business consultancy services to our clientele.

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