Types of Companies Are in DMCC Dubai
DMCC Dubai is the world’s largest free zone that offers companies access to world-class business services and infrastructure. This makes it an attractive location for businesses seeking to expand globally. Companies in DMCC benefit from a zero-tax environment and a variety of other business benefits, including the ability to import and export goods freely.
The DMCC Dubai was founded in 2002 and is located in the Jumeirah Lakes Towers (JLT) area of Dubai, UAE. Its 78 high-rise office and residential buildings are organized into clusters, each with three commercial or residential towers. Companies can rent a virtual office, buy a commercial space, or open a shared desk in a coworking space. There are also options for leasing or buying a fully furnished private office.
Companies registered in DMCC can operate in multiple sectors, including finance, telecommunications, education, healthcare, and technology. They can also use the DMCC Global Trade Repository, which is a central repository for commodity trading information that can be used by financial institutions and traders worldwide.
What Types of Companies Are in DMCC Dubai?
There are no limits to the types of companies that can be formed in DMCC, and there are several different licenses that can be obtained. The most popular license is the Commercial/Trading License, which allows companies to trade almost any product type. Other types of licenses include a Service/Consultancy License, which allows companies to offer services and conduct light manufacturing, as well as a Industrial/Production License, which allows companies to carry out heavy production in dedicated facilities within the free zone.
One of the main reasons that attracts many new companies to DMCC is its residency options for both employees and shareholders. The authority provides support with visa applications and offers advice on how to set up a residence for a company. This reduces the amount of time that companies spend on administrative tasks and can save them money.
Another perk of setting up a company in the DMCC is that it is possible to open a corporate bank account with any major local or foreign banks. This makes it easier for companies to transfer funds between accounts and pay suppliers and clients. The DMCC’s one-stop portal is also beneficial for companies that need to apply for permits, licenses, and tax certificates.
DMCC also offers support for its members to be compliant, by providing regular regulatory updates and training sessions. This can help companies avoid any penalties by ensuring that they are up-to-date on the latest rules and regulations. They can also get advice on how to best comply with the regulations from expert consultants without having to pay expensive law firms.
DMCC’s office spaces are designed to accommodate all kinds of companies, with flexible lease terms and ample amenities. They are located close to public transport and have a wide range of dining, shopping, and leisure options nearby. The DMCC is also easily accessible via two metro stations, three tram stations, and various bus routes. Parking options are plentiful in the JLT area, and there are even Careem bikes and scooters to give you extra mobility around the city.