DMCC FREE ZONE COMPANY FORMATION,
DUBAI BANK ACCOUNTS AND VISAS
DMCC Business Setup. DMCC Free Zone. DMCC Company Formation.
The fastest growing free zone development in the UAE, DMCC Free Zone is a 200-hectare, mixed-use waterfront master development facilitating both business and community living by offering commercial, residential and retail property for sale and lease.
KGN Services specializes in DMCC Business Setup, DMCC Free Zone Company Formation, establishment of branches of a local and foreign companies, opening bank accounts and visa processing services.
DMCC Dubai – General Information
Location: Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia.
Time Zone: UTC+4.
Currency: Emirati dirham (AED).
DMCC Free Zone – Overview
Welcomed business activities
All business activities are welcomed by DMCC Free Zone.
Advantages of DMCC Business Setup
Taxation is always a thorn in the flesh for most companies and individuals, so if you were to get someone who would let you run your business without worrying about taxes, nothing would stop your business from thriving. At DMCC Free Zone, companies enjoy nil corporate tax and zero personal tax for fifty years. This makes Dubai DMCC the best choice for most corporate and startups.
Owning the Business Fully as a Foreigner
Most governments have rules and regulations stipulating the ownership of business. Most of the rules state that for a corporate to exist, part of the shareholding has to be shared with a local entity. This is not the case at the DMCC Free Zone. You are allowed to own the business 100% without interference from the government.
The Dubai government has made it easy to set up your business in the DMCC. It has done this by making the registration of a new company very easy and accessible to everyone. Most of the DMCC company registration processes are done online.
A Wide Range of Business Activities
At the DMCC Free Zone, there are over 600 business activities you can choose from. There are over 20 sectors covered at the DMCC, which range from Gold and diamonds, energy, constructions, technology, FMCG, healthcare, aviation, shipping, education and a host of other sectors.
Very Few Activities Need Approval From Third Parties
Almost all the approvals are done at the DMCC Free Zone, although there are few exceptions to the rule like the opening of a clinic at the DMCC Free Zone which requires the Dubai Health Authority to intervene.
Upon meeting the requirements of the state which are very minimal, the UAE visa is processed within a span of only two to three days. One can travel with their spouses and kids if they show that they can afford the sponsoring. Therefore, working and owning a business at the DMCC Free Zone is easily accessible.
You Can Apply for Several Licenses Under One Company
The DMCC authority allows a company to carry out several activities as a one legal entity. The only rule is that the activities have to be similar in nature.
Option of Adding Activity After License Issuance
Unlike most free trade zone areas, at the DMCC, there is a providence of adding another activity once the license has been given. What this means is that your company does not have to be rigid because of fear of constraints, you can always and other activities that you feel are profitable.
Up to six Business Activities in the Same Division can be registered in one license. This makes the cost of doing business to go down.
At the DMCC Free Zone, the government has ensured that the properties are affordable. This will help incorporates and startups weather the first storms experience when it is new.
Dubai government has made it possible for DMCC companies willing to buy properties at the DMCC Free Zone to own the properties on freehold. This move makes lets the DMCC company enjoys full ownership regardless of their nationality.
No Customs Duty to Import Goods
Free Zone licenses are such that, no import duty is paid for goods or equipment imported into the Free Zone from another country. As much as the free zones are inside the UAE, they are not under the jurisdiction of the customs. Duty is only paid if the goods are meant for the UAE and the company has to pay tax.
The DMCC Free Zone does not have a port of its own, but it is conveniently located near one of the largest port in the world, the Jebel Ali port. The DMCC Free Zone is 10 km away from the harbor.
The DMCC Free Zone offers light industries to thrive in their premises. This is a unique opportunity for those who do light manufacturing.
Government Assistance with Employee Sponsorship
If you want to bring your own employees from abroad, the government goes an extra mile and makes sure that they are able to come and work in the company. The government also assists with international recruitment especially of support staff. The government makes the process easy and manageable.
At the DMCC Free Zone, there are all sorts of rooms to cater for different client needs. For instance, some companies require the flexi desk kind of arrangements; others will opt for service office, physical office or retail space. The DMCC Free Zone has catered to such needs.
The DMCC FZ is an excellent investment opportunity for foreign investors who would like to invest in Dubai since it offers a whole lot of benefits including but not limited to those mentioned above. Being located close to major commerce centres a DMCC company operating in the area is able to achieve more business accomplishments. Since it is located on a logistics corridor, there is a higher access to more shipping means for transporting goods and products across the globe.
DMCC Business Setup – Business Types
The DMCC Free Zone Authority allows two types of business setups:
Limited Liability Company (FZ LLC)
An LLC can be formed with one or more shareholders.The minimum number of directors is one. Director can be of any nationality and need not be resident in the UAE. Corporate directors are permitted.
For existing companies wishing to establish a base in the DMCC Free Zone.
DMCC Business Setup – Types of License
The categories of license available within the DMCC Free Zone are:
- Trading/ Service/Industrial
- General Trading
DMCC Business Setup – Required Documents
- Passport of all proposed company shareholders/directors/managers/secretary/legal representative (for UAE residents: passport, visa and Emirates ID; Letter of No Objection from existing sponsor (if applicable))
- Proof of permanent residential address of each shareholder/director/manager/secretary/legal representative
- Business plan (if required according to DMCC allowed activity list)
* DMCC Free Zone reserves the right to obtain additional documents if required.
DMCC Dubai Facilities
- Flexi Desk (Sharing)
- Services Office
- Physical Office for Lease or Sale
Calculating Your New Free Zone Company in Dubai Multi Commodities Centre (DMCC)
This is always crucial to understand the initial costs for a company start-up. Below is an overview of the basic expenses associated with a DMCC Business Setup:
1.Type of License
Each activity of a company falls under a specific License Type. Below is an overview of the basic expenses associated with a new company registration in the DMCC Free Zone:
Cost includes: Pre-approval, Registration and License.
2. Type of Office Facilities
Being a DMCC licensed entity you are required to rent an office. Number of visas you are eligible for depend on the office’s size – 1 visa per 9 sq. m. Here are the options currently available:
3. Other Documents
Establishment Card is mandatory to apply for all visa types – Investor/Partner/Employment visa. Operation Fitness Certificate (OFC) needs to be obtained annually under the company name in case a company has chosen a physical office facility.
- Operational Fitness Certificate: AED 450
- Establishment Card: AED 570
4. Visa Application
Cost of each visa may differ depending on the visa type and whether the person in currently in or out of the UAE. Bank Guarantee Deposit is refundable after company‘s deregistration. Employment visa for employees and investors in DMCC is valid for 3 years
- Outside The Country Application: AED 3,320
- Inside The Country Application: AED 3,780
- Inside The Country with Amendment: AED 4,520
- Labour Guarantee Deposit: AED 3,000
- Medical Test And Emirates ID: AED 1,120
5. WIS DMCC Service Packages
Three packages are available for clients’ choice depending on individual needs.
DMCC Free Zone Packages – Compare Package Features
Need Help Choosing the Right Package?
Why choose KGN Services?
We’ve been helping business owners since 1996
Incorporating your business is our focus
We make a complex process fast and easy
We work closely with Companies Registries to guarantee our service
Fastest offshore companies & accounts – Most competitive pricing worldwide
Services in DMCC Dubai
KGN Services provides the following services in DMCC Free Zone:
- DMCC Free Zone Company Formation
- Investor & Employment Visas
- Full Company Administration & Secretarial Services
- Opening of Bank Accounts
KGN Services | DMCC Free Zone | DMCC Business Setup | DMCC Company Register | DMCC Company| DMCC Company Setup
Tags: DMCC Dubai | DMCC Business Setup | DMCC Company Register | DMCC Company
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