Incorporation of Companies in DMCC Free Zone
If you are a commodity focused business, the main benefit of operating out of this free zone is that you will have access to industry-specific infrastructure. Furthermore, this is where the majority of commodity companies or their representative offices/headquarters are located. Another one of the competitive advantages is the strategic location of DMCC (Dubai Multi Commodities Center Authority) licensed companies which are found in JLT, on the Sheikh Zayed Road, near to the major ports and attractions.
Types of License
DMCC Licenses are usually for core commodity trading activities i.e. raw materials: Such as Gold and Precious Metals, Diamonds, Pearls, Plastics, Energy, Oil, Steel and Base Metals, Chemicals, Food, textile and raw material.
Deposit of Starting Capital:
The minimum Share capital is AED 50,000 for the DMCC license.
Leasing of the office
The minimum office requirement in order to secure a license is 50 Sqm (540 sq ft.). Every 10Sqm gives the right to obtain one visa from the company. Jumeirah Lake Towers( JLT) is a freehold mixed development (commercial and residential), offering the most competitive property prices in the UAE and as a free zone licensed company, you can lease commercial office space anywhere in the JLT Free Zone from AED 50 sq ft per annum or buy free hold from AED 525 sq ft. Please note, the DMCC Free Zone is one of the only freezones in the UAE that issues a Commercial Trading License on a E-Office [Virtual Office] facility with annually rent 13,000AED and allow the investor to obtain 3 visas.
The required documents
Please note that we would require the following documentation to proceed with the registration of an FZE and obtaining a Commercial Trading License in DMCC Free Zone:
- Company name.
- Passport copy for all shareholder/Directors/Managers.
- Business Summary/plan.
- Specimen Signature for all shareholders/Directors/Managers.
- Proof of physical address for all shareholders/Directors/Managers (Copy of Utility Bill or similar).
- Shareholder(s) Resolution.
- Memorandum of Association (signed).
- Original letter from the bank confirming the deposit of the share capital.
- Tenancy Contract (commercial property within JLT Free Zone) OR DMCC Virtual/Serviced/Flexi Desk office contract ( Subject to approval ).
Once we receive all the required documentation and the stipulated payment, we will prepare the registration and license applications and submit the same to the Free Zone Authority for approval, it will take approximately 3 – 4 weeks (subject to submission of the lease agreement to the authorities and depositing the share capital in the bank) to complete the entire registration procedure and obtain the trade license from the Free Zone.
It is important that we are able to make payments as efficiently as possible to the various free zone departments in order to proceed with the registration and obtain the initial approval. Therefore we would require the total fees to be paid in advance.