Find Answers here.

IMC Group is a leading provider of DMCC Company Formation in Dubai. With a team of experienced professionals, IMC Group is well-equipped to provide the support and guidance that entrepreneurs need to succeed. The following are some of the frequently asked questions from our clients regarding DMCC Company Formation in Dubai.

Find Answers here.

IMC Group is a leading provider of DMCC Company Formation in Dubai. With a team of experienced professionals, IMC Group is well-equipped to provide the support and guidance that entrepreneurs need to succeed. The following are some of the frequently asked questions from our clients regarding DMCC Company Formation in Dubai.

DMCC Company Formation in Dubai – FAQs

A DMCC license is a type of business license issued by the Dubai Multi Commodities Centre. This license allows a company to trade and operate internationally and within the DMCC free zone authority. DMCC is one of the world’s fastest-growing free zones for trading international commodities.
DMCC businesses and individuals are tax-exempt for 50 years from inception as long as they comply with regulatory requirements.
Costs to renew DMCC free zone license depend on company structure, license type, and business activities.

Here are the different types of new DMCC companies:

Individual: An individual refers to a business that is owned by one or more shareholders who are natural persons.

Joint venture: A joint venture is a business entity that is owned by a group of individuals, companies, or a combination of both.

Subsidiary: A subsidiary is a company fully owned by another company, but it may have a different name and perform different business activities. It is important to note that for accounting purposes, a subsidiary is defined differently.

Branch: A branch is considered an extension of the parent company and does not possess a separate legal identity.

In the hands of the DMCC, company liquidation is a very involved process.

The next steps must be taken:

  • Final Audit
  • Newspaper announcements of the business closing.
  • Account closure for the bank
  • Ending of the lease
  • Visa Cancellation
  • Renewal of the license.
  • The duration can range from two to five months at times. The estimated 10,000 AED in government fees. In most cases, DMCC business setup specialists can also handle the liquidation.

The Dubai Multi Commodities Centre is one of the best freezones in Dubai. Unlike other Dubai Free Zones, DMCC has a lot of potential and opportunity for retail and commerce sectors. The DMCC freezone is the gateway to global trade and an exclusive spot to expose your business.

DMCC has won the ‘Global Free Zone of the Year’ award from the Financial Times FDI magazine for four consecutive years. It is one of the highest-regarded free zones in the region, and it is conveniently located in the heart of Dubai’s Jumeirah Lakes Towers district. It offers freehold options, making it a great choice for businesses operating in either the financial or commodities sector.

DMCC members enjoy a range of benefits including 0% personal tax, 100% business ownership, capital repatriation, a strategic location, flexible solutions, and an efficient online portal for all services.
DMCC offers various amendment services for your existing company, such as share transfer, name change, and more.
The Dubai Multi Commodities Centre (DMCC) is a free zone based in a lake-front development called Jumeirah Lakes Towers, ten minutes from Jebel Ali Sea and Airports and the Logistic Corridor. DMCC was established in 2002 and is one of the fastest-growing UAE Free Zones.
  • Trade License Renewal and License Modification/Cancellation
  • Assistance in opening a bank account
  • Issuing Transferring, and Distributing Shares
  • Reports on audits and business consulting services
  • Workmen Paid time off and employee visa
  • Insurance Coverage for Third Parties and Other Documentation
  • Renewal of an Establishment Card
  • Employment Permit Renewal
  • Renewal of the Ejari/Lease Agreement
The liquidation process of a DMCC company requires cancellation of all visas linked with the company, resolutions, clearance certificates, and liquidation reports.
If you are established in the United Arab Emirates, any taxable supplies of goods or services rendered by DMCC will be subject to a 5% Value-Added Tax (VAT) that will be charged by DMCC in addition to the cost for that supply. In such circumstances, DMCC will issue you with a valid tax invoice.
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