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:
This license is for companies that want to import, export, and trade goods within the UAE and internationally.
This license is for companies that provide consulting, marketing, and IT services.
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.