Dubai, to this date, is one of the most sought-after cities for small business owners, big companies, freelancers, and all sorts of individuals from all over the world. It has become a dream destination not just because of its safety precautions against the pandemic, nor the smart response of the government in vaccination of the population but because of the rise of the business opportunities the city offers.
For several decades now, Dubai has offered individuals from all over the world opportunities to grow in their careers and grow their business in the mainland and the free zones. Dubai has given hope to people and makes dreams come true. It is indeed the ultimate destination for entrepreneurs.
The free zones in particular are ideal for small start-up businesses. The DMCC free zone (or the Dubai Multi Commodities Centre) is one of the more popular options for expats. This free zone offers you 100% ownership of your company. Profit remittance is also at 100%. The DMCC free zone is the perfect hub for small business startups.
If you think starting a business in Dubai is hard, think again. This article will let you know how easy it is to start a business in DMCC. Just follow the guide and do not skip a step. Know the benefits and the process on how to setup a business in DMCC.
DMCC is Perfect for Your Business
DMCC is known to be the world’s number one free zone. It has been elevated by the Financial Times Magazine for 4 consecutive years as the number 1 Global Free Zone in the world. It is located at the heart of Jumeirah Lake Towers, one of the luxury destinations in Dubai. It was formed in 2002 and from the onset has already achieved a maximum number of company registrations. It now has 11,000 companies registered. DMCC is also known as a major contributor to the development of commerce in Dubai.
Benefits of Establishing Your Business in DMCC Free Zone
- Full ownership of the business
- Full profit repatriation
- No Corporate Tax Charge
- No Import Tax Charge
- No Export Tax Charge
- Wide range of Business Activities
- Fast and Easy Setup of Business
- Multiple License Requirements
You can easily register your business from the comfort of your homes. All required documents can be sent online and through the mail and there is no need for physical appearance when applying for business in the DMCC Free Zone.
Business Activities in DMCC
It is the destination for new entrepreneurs and investors because it is the only free zone in the UAE that has permitted the listing and trading of cryptocurrency. The DMCC authorities have signed an agreement with the Securities and Commodities Authority permitting cryptocurrency businesses to be established in the zone.
Dual License in DMCC
DMCC also allows dual licensing. A dual license allows businesses to extend their business to the mainland. TO be eligible, you have to obtain a DMCC and mainland license. Benefits of having a dual license include (1) extension of operations to the mainland without the need of any shareholder (2) affordable price and (3) Time-efficient.