Freezone is the backbone of the business industry in the United Arab Emirates. Dubai Multi Commodities Centre or DMCC is located in Jumeirah Lake Towers and opposite to Dubai Marina and near to Jumeirah Lake Towers metro station. The fast growing free zone issues different types of licenses for various trading activities in sectors like gold, diamond, steel etc.
Documents required for company formation in DMCC
To start a business set up in DMCC requires a thorough market study and necessary documents. There are so many business consultancies in Dubai to provide sufficient support for business set up service in DMCC. An expert in this field will help you in this aspect. They will assist you to get through the complex procedures. The documents required to start a business is as follows.
- Passport copy
- Address proof (Electricity bill)
- Profile of business
- Plan of business
The plan of business depends upon the type of business activity you are going to start.
Features of company formation services
Apart from the enormous features of starting a business in a freezone, the main attraction is that of the permission of the government for the investors to own the property in Jumeirah Lake Towers (JLT) if they are interested. Some of the features include
- 100% business ownership
- Ease of procedure in licensing and registration
- Capital repatriation of 100%
- Free from taxes
Types of licenses in DMCC
Each freezone in the United Arab Emirates is offering different types of activities. In other words, the services offered by DMCC may not be available in any other freezone. The business consultancies are offering company formations services which will help you to provide sufficient support for the new investors. Different types of licenses are issued in DMCC.
In the United Arab Emirates, industrial license is issued by the department of economic development. After issuing the license you have to attain the approval from the Dubai municipality, planning department, civil defence etc., according to the type of activity carried out. Mainly industrial licenses are issued for establishments that convert raw materials into finished goods.
With this type of license you will be able to carry out consultancy activities which are specified in the license. You are also permitted to open a branch for the existing company with this license.
Being an entrepreneur with a trading license means you can import, export, consolidating and storing goods. For start-ups the government prefers a general trading license which allows you to conduct various trading licenses under one license.
Why interested in DMCC?
Those who decided to start a new business in the UAE can experience a wide range of financial facilities. The living standard of the people in the UAE plays a vital role in the success of the business. With the proper planning and expert opinion one can achieve huge profit from their business. It will add more success if the business is in any of the freezone because of its 100% ownership and free of taxes.
Unlike the top cities like New York, Paris Dubai is considered as the safest place to start a new venture. As one of the prominent areas to start the business DMCC is considered as the wisest option because of the variety of opportunities you are getting there. Before going directly for a business set up in DMCC, it is advisable to seek an expert opinion that can guide through the government procedures.
To start up a new business in a freezone like DMCC, you have to apply online and attain the license for the particular activity. It is strictly under the control of the specific department which is handling the approval of the license. The entrepreneur has to submit the relevant documents needed to process the request. According to the type of business, the government will ask for extra documents if needed. That is why it is advisable to contact an expert in this area to avoid unnecessary delay in the procedure.
Once you get the approval from the Dubai municipality and the issuance of a license, it is the right time to jump into the pool of opportunities. You can achieve the target with the help of expert employees and the guidance from an expert consultancy. With the use of proper manpower you can live your dream life in one of the safest places.