Dubai is undoubtedly considered to be the global gateway to the Middle East, providing opportunities for people to invest in a wide range of business services and infrastructure.
Dubai boasts of having a four-times crowned Global Free Zone and the world’s first-ever free zone, Dubai Multi Commodities Centre (DMCC). Established in 2002 as a government entity in the centre of the Jumeirah Lakes Towers district (JLT), it has the sheer aim to make Dubai the most preferred destination for commodity trade flow.
Moreover, DMCC is not only home to a dynamic community, innovative and state-of-the-art infrastructure, excellent services, but it also has a spectacular range of properties to choose from, all of which are just a few minutes away from main locations.
DMCC in Jumeirah Lakes Towers is a 200-hectare mixed-use free zone that is grouped into clusters each comprising three tower blocks. With 68 towers and the development comprising approximately 180,000 sq/m of commercial, residential and retail space, DMCC is considered to be in a class of its own.
Essential steps to starting a business
There is no doubt that setting up a business in a free zone is quite easy, however, you have to go through a certain procedure in order to achieve that.
Whether you want to set up a new company or simply establish a wholly-owned subsidiary in DMCC, the entire process is quick, easy and clear as the free zone authorities require minimum paperwork and duration. The following steps will help you set up your business in a free zone.
- Determine the type of legal entity
You need to decide which type of license you want and what business activity you want to conduct. It is really important to know which documents you require for the process. You can calculate all costs involved by using the DMCC cost calculator.
In DMCC, the minimum share capital for forming a free zone company is AED 50,000 per company and AED 10,000 per shareholder. For a company to be issued a General Trading License, it should have a minimum of AED 1 million share capital.
- Choose a trade name
Submit an online registration form. Complete the form, pay the initial application fee of AED 1,035 and submit your application. After seven working days, DMCC will complete the company name reservation, management and compliance approval.
- Apply for a business license
In DMCC, you can choose from over 600 business activities ranging from over 20 sectors such as energy, commodities, gold and diamonds, technology, construction, FMCG, healthcare, aviation, shipping, education, media, professional services, financial services and personal and community services. Apply for that specific business license.
- Choose an office space
You can either buy or lease office spaces in free zones. Office requirements depend on the number of employees and type of business activity of your company.
In DMCC, you can choose from a Flexi desk of 200-300 sq.ft., a Flexi office of 2000-2650 sq.ft., or offices running through multiple floors with a total of 20,000 sq.ft. each. Choose a perfect office space. Finally, sign and submit the relevant documents for your new office space.
- Get pre-approvals, register your business and finally get your license
Make sure that you pay the registration and license fees and sign legal documents. Within 5 working days, DMCC will issue a provisional approval and bank letter (to open a company bank account). Finally, after 5 working days, DMCC will issue your E-License, so you will be ready to do business in DMCC.
There will be a number of things which you will need before applying:
- Online pre-approval application form
- Copy of your passport, UAE residence visa and a copy of your Emirates ID
- Proof of residential address in the country of residence
- Copy of Company documents
- Third-party approvals for business activities in DMCC free zone (required once the company is registered)
How to lease or own a commercial space in DMCC
DMCC offers a superb choice of properties that can fit any size and type of business. Owing to 66 towers, you can either opt for fitted space or shell and core or choose serviced offices that are specially designed for smaller businesses.
Flexi-desks are available on a part-time basis while giving your business a full-time physical address and professional appearance. You can access a number of amenities including unlimited access to meeting rooms.
Serviced desks are available for businesses that have full-time staff and therefore require a dedicated desk. Serviced offices are 215 to 279 sq. ft. and fully furnished offices that can comfortably accommodate 2-3 people.
DMCC Free zone also provides fully furnished serviced office spaces that range from 200 sq. ft. to over 6,000 sq. ft. Facilities such as air conditioning, electricity or building service charges are included. Each office has 24/7 access with security as well as shared services like reception, kitchen and free beverages and housekeeping amenities.
DMCC offers a great working environment in the perfect location at extremely affordable rates. It is the perfect location to create any business within reach of thousands of potential clients and the opportunity to work alongside many global leaders.
1. Full office space
DMCC offers offices that are strategically located in towers covering most areas of the Free Zone. These towers offer offices ranging between 100 sq. ft. and 500 sq.ft. in a luxurious environment, having a rent from from AED 30 per sq.ft. for shell and core and AED 40 per sq.ft. for fitted office. All services, such as a dedicated telephone and fax numbers, internet connection, fully equipped meeting room facilities and advanced audiovisual technology are usually available, making it an ideal place to set up your business.
2. Serviced office
For those looking for convenience,serviced offices are available at affordable prices, with rent starting from AED 2,000 per month, depending on the size and location of your chosen office. All offices are fully furnished and equipped with high-speed internet and fiber optic communications. Moreover, meeting rooms and boardrooms of various sizes are available for bookings for a time span of 10 minutes to a full day. You can benefit from 24-hour access and security; making it the ideal workspace solution for those who want a convenient environment to conduct their business.
3. Shared space
If you are on a tight budget, then you can still find a place to start your business. You can rent workstations in a collaborative space, that allows you access to a range of excellent facilities and amenities including 24-hour access to Wi-Fi, copy and printing facilities etc. You can easily find co-working spaces at quite an affordable price AED 750 per person/month.
It does not matter whether you are an existing member company or a prospective new business owner, the DMCC Free Zone offers support at every stage of your business journey. This guide will definitely help to provide you with all the necessary information, tools and resources that are required in the building of your business.
If you are looking for a commercial space in DMCC area, then do not hesitate to contact us at. For any further questions, assistance or a fast quote, you can call our help centre at 04 409 0958 between 8.30 am to 5.30pm from Saturday to Thursday. We promise to help you find that perfect property for you and guide you through every step, to get you all set up.