You are likely to face many unpleasant bureaucratic peculiarities when you register a DMCC free zone company, which can not be evaded. You should opt to set up a joint Arab-Foreign company to make this procedure a little easier.
The purchase of a ready-made business in a DMCC free zone usually passes quickly and without problems. You will not need to register a company in a DMCC free zone in Dubai, enter into all kinds of contracts with banks and other institutions and prove that you have the necessary amount to contribute the authorized capital. A sole task is to conduct successful negotiations with the seller of the business and find the optimal price of the enterprise, which will suit both parties.
Here are the documents required for starting a DMCC Free Zone Company
- Permissions and licenses (depending on the type of activity);
- Package of constituent documents;
- A certificate of opening a bank account;
- Company name registration;
- Certificate of registration in the Commercial register;
- Certificate of registration in the Chamber of commerce and industry.
The benefits of a DMCC Company setup include:
- Complete Foreign Ownership (A UAE partner is not required when setting up a DMCC company. A UAE partner is only required when setting up a pharmaceutical company);
- Complete Capital Repatriation;
- No Currency Restrictions;
- Not subject to Corporate Tax or Personal Tax;
- Appropriate Infrastructure & top-notch industry space;
- Availability of Commercial, Industrial, Residential and Retail Space;
- The DMCC Free Zone is strategically located on the Sheikh Bayed Road, which links Dubai & Abu Dhabi. Dubai Logistics Corridor is also within close proximity;
- Reasonably priced residential & commercial properties for sale & rent;
- Simple document procedure;
- License is easily issued;
- Non-disclosure of Company Records.
DMCC License Types:
- Manufacturing License;
- Services License;
- Trading License.