Set up a Company in Dubai Multi Commodities Centre Free Zone
Set up a Company in Dubai Multi Commodities Centre Free ZoneUpdated on Monday 28th August 2017
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The United Arab Emirates represents one of the best places to invest into a business, as the legislation for foreign investors is very welcoming. One of the most attractive places to open a business in Dubai is Dubai Multi Commodities Center Free Zone, also known as DMCC, which offers great investments opportunities in terms of taxes and business environment. Our lawyers in Dubai can provide you with complete details in this matter regarding the legal aspects you need to consider and they can also guide you when opening any type of company.
Dubai Multi Commodities Centre Free Zone
The DMCC Free Zone was established in 2002 as a center for supporting commodities market in Dubai. With an attractive legislation for foreign companies, DMCC has become the trading center for the following commodities: precious jewelry (diamonds, gold, and pearls), energy, metals and agricultural products. Foreign investors interested in company registration in DMCC should know that the center offers a variety of logistics and financial services, necessary for most of the companies. Our attorneys in Dubai can provide you detailed information on the business market in DMCC. At the moment, there are more than 11,000 companies registered in DMCC Free Zone, with more than 85,000 persons working and living in this region.
Corporate tax exemptions and incentives in DMCC
DMCC can be considered a tax haven, as the companies incorporated here can benefit from various tax exemptions. DMCC has 0% corporate tax, allows 100% foreign ownership, does not apply an income tax and does not impose restrictions on capital repatriation. The rules mentioned above are applicable for the first 50 years after the company’s incorporation in DMCC. In case your company has operations in the field of pharmaceutics, the DMCC legislation no longer allows a 100% foreign ownership; our Dubai lawyers can offer you more details on this procedure applied in this case. A company can receive a permit to function in DMCC in the case of the following incorporation types:
• limited liability company (with one/multiple shareholders);
• branch of a company.
We have prepared a video about how to establish a company in DMCC, with the help from our advisors:
If you need further information on the registration of a company in DMCC Free Zone, please contact our Dubai law firm for assistance.