Dubai Multi Commodities Centre (DMCC) is one of the largest free zones in the UAE, specializing in commodities trading. The DMCC trade license offers a range of benefits for businesses, including 100% ownership, tax exemptions, and easy access to world-class infrastructure. This article will provide essential information about obtaining a DMCC trade license.
Types of DMCC trade licenses:
DMCC offers three types of trade licenses, each with different requirements:
Trading license:
This license is for companies that want to import, export, and trade goods within the UAE and internationally.
Service license:
This license is for companies that provide consulting, marketing, and IT services.
Industrial license:
This license is for companies engaged in manufacturing, production, and industrial activities.
Requirements for DMCC trade licenses:
• Business activity: You must choose a business activity that aligns with DMCC’s list of permissible activities.
• Business plan: You must submit a detailed business plan outlining your company’s operations, financial projections, and marketing strategy.
• Office space: You must lease or own office space in DMCC free zone. The office should suit your business activity and comply with DMCC’s regulations.
• Share capital: You need a minimum share capital of AED 50,000 for a Trading License and AED 100,000 for a Service or Industrial License.
• Local service agent: If you are a foreign company, you must appoint a local service agent who will act as a liaison between your company and the local authorities.
• Legal documents: You must submit legal documents, such as passport copies of shareholders, a certificate of incorporation, and a Memorandum of Association.
Benefits of DMCC trade license:
• 100% ownership: You can own your company 100% without needing a local partner.
• Tax exemptions: DMCC offers tax exemptions on corporate and personal income taxes.
• Easy access to infrastructure: DMCC provides access to world-class infrastructure, including office space, logistics, and transportation.
• Business opportunities: DMCC offers access to a global network of businesses, opening up opportunities for partnerships and collaborations.
Obtaining a DMCC trade license involves several steps, including choosing a business activity, submitting a business plan, leasing office space, appointing a local service agent, and submitting legal documents. By meeting these requirements, you can enjoy the benefits of 100% ownership, tax exemptions, and easy access to infrastructure. If you want to start a business in the UAE, DMCC offers many opportunities for commodities trading and other business activities.
