DMCC, a strategic initiative of the Dubai Government, was established in 2002 to provide a marketplace and necessary financial and physical infrastructure to run a thriving commodities market. Today, DMCC free zone is the house for almost 12,000 companies or startups which are actively operating including both commodities as well as other businesses. The company formation costs in Dubai can be significantly reduced by hiring apt company formation agents in Dubai. Apart from that, the company formation & business setup in DMCC can be made easier by availing the services from company incorporation consultants Dubai and other auditing and accounting firms in Dubai.
☛ Networking opportunities like events, workshops, and exhibitions.
☛ Ability to purchase premises.
☛ Compliance standards training and trade regulations periodically to stay up to date on the latest in the legal framework.
☛ 100% capital repatriation.
☛ Access to trading commodities like gold, diamond, and commodities of exchange.
☛ Purpose-built infrastructure.
☛ Unique Worldwide center Industry Clustering.
☛ 100% business ownership and sole shareholders are permissible.
☛Efficient Registration and Licensing procedure.
☛ No foreign exchange controls or barriers to entry.
☛ Prime strategic business location of global significance.
☛ Preferential freight rates.
☛ Guaranteed 50-year tax holiday on income as well as personal taxes.
4.General Trading License – AED 1 million share capital is required.
☛ The share capital of AED 50,000 needs to be deposited in the company’s bank account in the UAE within 3 weeks from the issue date of the company’s license and it can be withdrawn at any time.
☛ Offices can be rented if required, upon approx. office Lease is AED 65,000 – 100,000 for 500 – 800 sqft depends on tower/locations.
Step 1: Deciding your Company Type or Activity
The initial step is to decide on the type of legal business form of the company and your business activity, which you can choose from the following 3 options:
1.Free Zone Limited Liability Company (FZ-LLC).
2.Free Zone Establishment (FZE.)
3.Branch of a Company (UAE or Foreign).
Step 2: Submit Application and Documents
The next vital step is to attest the requested documents and to submit your application for the process, which are:
☛ Duly filled in the application form.
☛ A valid copy of your passport as well as visa.
☛ Valid proof of residential address [this can be any of the utility bills like water, electricity, etc.]
☛ A business plan.
☛ Finally, a No-Objection Certificate (NOC) from the sponsor who holds a valid UAE visa.
☛ In the case of a branch, copies of parent company documents are also required.
Step 3: Pay, Sign and Collect
After reviewing all the documents and applications provided by you, the authorities will issue a lease agreement and license by your license request and make the necessary payment.
Step 4: Choose a Business Office
You can get started with your business activities after the submission of the lease agreement to the new business office. For doing business in DMCC, the DMCC zone should issue your e-License.
☛ Online Application for Termination of DMCC License.
☛ Shareholder’s Resolution.
☛ Official Letter Request – Justification for de-registration printed on company letterhead, signed and stamped by Authorized Signatory.
☛ Confirmation of Appointment of Liquidator.
☛ Original company documents to be returned to DMCC such as MOA, Certificate of Registration, Establishment card, Personnel Secondment Agreement, Original License, Share Certificate.
☛ Clearance Letters from Landlord, Etisalat, DEWA, Bank, Ports & Customs.
☛ Liquidator’s Report – For auditors to prepare this, they will also require a closure letter from your Bank.
☛ Visa Cancellation – If there are any visas under the company, it has to be canceled as well for the company to be de-registered. Visa cancellation can be done before de-registration.
HELEN AND SONS is a reliable Business Setup agent in Dubai that helps you with the company registration process in Dubai. We offer services such as public relations officer (PRO) services, business registration, visa services for the employees, licensing, VAT registration in the UAE, and all other business legal formalities. Besides, our firm has the best company formation consultants in Dubai who will guide you through each stage of company formation in Dubai. We allow you to focus on the bigger picture of your venture by taking the burden of business setup services in Dubai. Contact us, and our team will be glad to assist you.