Dubai Multi Commodities Centre (DMCC) is a free zone located in Dubai, UAE. It was established in 2002 to provide a business-friendly environment for companies involved in the trade of commodities and related services. DMMC offers a lot of benefits to businesses including the following:
- 100% foreign ownership
- No personal taxes
- No corporate taxes
- Fast and simple business setup process
- 100% repatriation of profits
- Vibrant business community
- World-class infrastructure
How To Start A Business In DMCC
The procedure for starting a business in DMCC is quite simple and straightforward. The following steps will guide you through the process:
Choose a business activity: The first step is to choose a business activity that is allowed in DMCC. You can find a list of permitted businesses also on the DMCC official website.
Choose a company name: Once you have chosen your business activity in DMCC, the next step is to choose a company name. The company name must be specific and unique. You cannot copy the name of any other business company.
Obtain a trade license: Once you have chosen the name of the company, you have to obtain a trade license from DMMC. The trade license will allow you to operate your business activity in DMCC.
Open a bank account: Once you get a trade license, you need to obtain an account in DMCC. This will allow you to send and receive payments from your clients and make payments to your suppliers.
Obtain a visa: If you are not a UAE resident or national, you will need to get a visa to work and live in Dubai. You can apply for a visa through the UAE embassy in your country.
Find a place to work: Once you get all the necessary visas and permits, you need to find a place to work in Dubai. DMCC offers a variety of office space options according to your needs.
Start marketing your business: Once you find a place to work, you need to start marketing your business. You can do this by attending networking with other businesses, attending trade shows, and advertising in local media.
Benefits Of Starting A Business In DMCC
There are many benefits to starting a business in DMCC. Some of the main benefits include:
- 100% foreign ownership
- No personal taxes
- No corporate taxes
- Fast and simple business setup process
- 100% repatriation of profits
- Vibrant business community
- World-class infrastructure
Conclusion
If you are considering starting a business in Dubai, DMCC is a great option. The free zone offers a lot of benefits that can help your business succeed. If you are interested in learning more about starting a business in DMCC, you can get more information on the official website or you can contact a business consultant.
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