STARTING A BUSINESS IN DMCC
The DMCC free zone is the region’s fastest growing business zone and it is the perfect place to set up your company if you would like it to grow beyond Dubai’s borders. It is home to over 12,000 companies which range from start-ups to corporate giants. Situated in Dubai, it is a prime spot for interaction between Europe, Africa, and Asia, and it supports a variety of different business sectors. A DMCC Company can be incorporated relatively swiftly.
Benefits of a DMCC company
The DMCC free zone features full ownership of your company, despite being a foreign investor as well as full capital repatriation. There is a 0% personal and corporate tax rate, making it possible for all 85,000 businessmen and women to grow their investments properly. There are regular networking events that are held along with business training sessions and the secure environment gives rise to a regulated business sector. The process of setting up your company in DMCC is fast and efficient and there are a wide range of real estate options for you to look at.
Steps of company formation in DMCC free zone
The first thing that you need to do is decide on the type of company you want to start. You can choose from a limited liability company as a newly formed entity, a limited liability company as a subsidiary or branch, or a branch of a local or foreign company. You then have to describe your business activities in order to get the appropriate license (trading, service, or industrial). A company name must then be chosen and you can start the application process.
The application process can be done online and it would need to be approved by the DMCC before it can be officially registered. The foreign investor would also need to provide the following in order to complete the application: a copy of their passport, proof of residential address, a summary of the business plan, and a no-objection certificate from a valid UAE visa holder.
As soon as your company has been registered, you can start working on providing the DMCC with the specifics and details of your company.