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DMCC, Dubai Multi Commodities Centre (DMCC) Business Set-up

Dubai Multi Commodities Centre (DMCC) Business Set-up


The Dubai Multi Commodities Centre (DMCC) is a strategic initiative of the Government of Dubai which has been created to establish a commodity market place in Dubai. It has been rated ‘A’ by Standard & Poor’s and it provides industry-specific market infrastructure with various facilities for the gold & precious metals, diamonds, coloured stones, energy and other commodities industries.  

It has been home to more than 17,000 multinational companies, Small and Medium Enterprises and start-ups. The Gold and Precious Metals Industry and the Diamonds and Coloured Stones Industry are supported by DMCC. 


 

Benefits of DMCC Business Set-up: 

  1. A 100% ownership of business. 
  2. License for a variety of business activities.
  3. Well-built infrastructure. 
  4. Repatriation of capital and profits which is 100%. 

The types of licenses for a DMCC company formation- 

  1. Trading License: Allows importing, exporting, distributing, consolidating, and storing almost all products types. 
  1. Industrial License: Allows the implementation of all light production activities that are specified in the license. 
  2. Service License: Allows the carrying out of service or consultancy activities specified in the license. 
  3. Branch Company: Allows to open a branch of an existing enterprise which is already doing business in DMCC free zone. 
  4. Commercial License: Allows the trading of any permitted goods. 

Services provided by DMCC- 

  • Licensing 
  • Registration 
  • Visa 
  • Advertising and signage 
  • Land development 
  • Planning and approvals 
  • ID  
  • Access cards 
  • Immigration 
  • Property leasing and purchase 
  • Serviced offices and flexi desks 
  • Office fitting 
  • Phone lines and telecom 
  • Care hire 
  • Utilities 
  • Insurance services 
  • Advisory services 
  • Compliance and regulation advisory 
  • Letters 
  • Salary certificates 

The documents required 

  • Online Pre-approval application form 
  • Copy of the passport of company shareholders, manager, director, secretary and legal representative 
  • Know Your Client form for shareholder, director, manager, secretary and legal representative 
  • Letter of No Objection from sponsor for shareholder, director, manager, secretary and legal representative 
  • Specimen signature form for shareholder, director, manager, secretary and legal representative 
  • Shareholder’s resolution
  • Memorandum of Association and Articles of Association 
  • Undertaking letter for share capital deposit 
  • Proof of residential address in country of residence 
  • Copies of parent company documents 
  • Third-party approval for certain regulated business activities 
  • Details of an office address in DMCC Free Zone (after company registration) 

The process of business set-up in DMCC is quite simple. It has the following stages- 

  1. Submission of initial request on the official website. 
  2. Filling in all the registration details and paying the fees. 
  3. Provide all the necessary documents. 
  4. Provide the documents for the license and after approval you obtain it. 
  5. After obtaining the license, visas, residency permit and other such permits can be applied for.  

The types of office facilities available- 

  1. Flexi Desk 
  1. Small Fitted Office 
  1. Business Centre Office 
  1. Physical Office for Lease 
  1. Physical Office for Sale 
  1. Retail Shop 

Dubai Multi Commodities Centre

Business Activities permitted

Agriculture, Fishing, Mining and quarrying, Manufacturing, Electricity, gas and water, Construction , Trading and repairing, Hotels and restaurants, Transport, storage and communications, Financial services, Real estate and business services, Education, Health and social work, Other community, social and personal services. 

The products of Dubai Multi Commodities Business Centre- 

  1. Properties- DMCC has a wide range of commercial and residential properties that can be rented or purchased. 

Features- 

  • Variety of office types suiting the size and types of business activities 
  • Commercial sales or leasing of property 
  • Very competitive prices 
  • Prime real estate centrally located 
  • Advanced infrastructure 
  • Easy access to sea ports and airports 

Almas Tower, Silver Tower, Gold Tower, Jewellery and Gemplex are some    of DMCC’s own properties.

  1. Silver Business Centre- It provides a prime business address along with support services. A first-class working environment, highly advanced technology and modern facilities can be enjoyed. 

  1. CORE Commercial- It is DMCC’s partner in real estate brokerage. They help in purchasing or leasing of commercial and residential properties. 

  1. Concordia- It is a service provider in the field of Integrated Facilities Management. It provides a variety of Facilities Management services for residential and commercial properties. 

The DMCC Financial Services

Financial services offered by Dubai Multi Commodities Centre

DMCC Tradeflow 

DMCC Tradeflow is a flexible and customized online platform which is used to register the possession and ownership of the commodities that are stored in UAE-based facilities. 
DMCC Tradeflow was established in 2004 and since then has evolved from a warehouse receipt system to serving as the regulator of commodity trade in the UAE as part of the Government of Dubai. The unique platform was basically launched to address a gap in the regional trade finance market and over the years has witnessed an increase in transactions. 
 
It now provides a range of online services that are specifically designed to facilitate collateral financing, jewellery financing and provide Islamic Finance solutions. Tradeflow’s success is largely due to DMCC’s ability to work alongside the global commodities industry, form various partnerships and work on creating trade enabling eco-systems. The consistent high performance is leading to the expansion of it and has also resulted in the development of various innovative trading platforms that specifically cater the trade finance demands of emerging markets such as India and China. 

Dubai Shariah Asset Management  

Dubai Shariah Asset Management (DSAM) is a joint-venture Islamic finance initiative between the Dubai Commodity Asset Management, a DMCC division, and the Islamic finance provider Shariah Capital. 
 
It aims to develop Shariah-compliant commodity-focused investments.  The first product is an exclusive series of single strategy, transparent hedge funds that are registered on the Al Safi Trust platform and are marketed under the DSAM Kauthur brand. The Al Safi Trust basically ensures that the investment assets are directed into separately managed accounts at Barclays Capital New York.  

Dubai Gold and Commodities Exchange 

The Dubai Gold & Commodities Exchange (DGCX) commenced trading in November 2005 as the regions first commodity derivatives exchange. DGCX is basically a subsidiary of Dubai Multi Commodities Centre (DMCC) which is a strategic initiative of the Government of Dubai, with a mandate to enhance commodity trade flows through the Emirate by providing the appropriate market, physical, financial infrastructure and services required.  

The various clubs at Dubai Multi Commodities Centre 

Collaborate with others to grow


  1. Food Trade Group- It helps in increasing your sales by meeting suppliers that are involved in both food trade and other related industries. Mitigation of risk, gaining market insight, easier access to finance and access to all trade data are some other advantages of the club. 
  1. Energy Club- The Energy Club holds regular collaborative meetings between energy industry participants irrespective of the location of their activity. The basic purpose of the Energy Club is to share know-how and act as a platform for the members where they can ask questions or share any ideas that may improve the industry. It aims at providing maximum value for the members by listening to their needs and providing the opportunity to raise and discuss hot-topics. It provides news and views throughout the industry including economic, technical, legal and all other relevant areas with member’s support. It ensures the privacy of the members and operates under the Chatham House Rule. 
  1. Maritime Club- It gives members the access to Dubai Maritime Intelligence and provides research opportunities. It acts as a platform that has provided excellent networking prospects. And the opportunity to meet maritime professionals from across the region. 
  1. Astrolabs- It is a Google Partnered tech centre. It provides a special license which enables start-ups to work in a collaborative community of like-minded entrepreneurs with zero upfront costs.  

Frequently Asked Questions 

DMCC


1. What is the minimum number of directors? 

The minimum number of directors is one. 

2. Is the import and export of goods allowed? 

Yes, the import and export of goods is allowed. 

3. Are accommodation facilities available? 

Yes, accommodation facilities are available. 

4. Is there 100% foreign ownership? 

Yes, there is 100% foreign ownership. 


DMCC, Dubai Multi Commodities Centre (DMCC) Business Set-up
Dubai Multi Commodities Centre Company Formation

N R Doshi & Partners


We are a top auditing firm based in Dubai. We have been in the business for more than 30 years and have professional team of experts that guide our clients personally. 

We provide our clients with all the required support. We customize packages for business set-up for our clients. We assist professional in every manner throughout the entire process of company formation and license obtaining. We guide our clients through all the procedures and help them in establishing their business within the quickest possible time-frame. 



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