Set up a Company in Dubai Maritime City Free Zone
Set up a Company in Dubai Maritime City Free Zone
Updated on Monday 03rd September 2018
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The structure of Dubai Maritime City Free Zone
The DMC structure is made out of six strategic locations:
- • the Maritime Centre is set up as the main business center for local and international maritime companies;
- • the Industrial Precinct has as the main activity the repair and maintenance of ships;
- • the Harbor Offices is the area in which maritime businesses can set up their firms;
- • the Harbor Residence area provides residential apartments;
- • the Marina District was created to meet the recreational and practical needs of people living here, by offering charter and ferry transportation;
- • the Academic Quarter is designed as a studies center.
The video below explains the requirements for opening a company in Dubai Maritime City Free Zone:
Incentives for foreign investors in DMC
The main regulatory body in DMC is the Dubai Maritime City Authority, which has the legal capacity to establish the taxation provisions available for foreign investors. When opening a company in DMC, an investor can opt for one of the following legal entities:
- • a Free Zone Establishment (FZE), which has only one shareholder;
- • a Free Zone Company (FZC) must have at least two shareholders, but maximum five;
- • a Branch office is a dependent legal entity, whose business is carried out in the name of the parent company.
In case you want to set up a company with an independent legal status, you may choose from FZE or FZC; although the registration process in DMC in a simple one, the documentation required for the two types of company differ and we recommend you to ask for advice from a law firm in Dubai. DMC offers attractive business legislation, as the companies registered here are exempt of tax on profits or the tax on capital gains; DMC also offers the possibility of 100% capital repatriation and 100% foreign ownership.
If you need further information on the tax legislation in Dubai Maritime City Free Zone, please contact our attorneys in Dubai, who can offer you advice on the business environment in DMC.