We offer you a remote company registration service in one of the fastest-growing UAE free zones – DMCC (Dubai Multi Commodities Centre). You can register UAE offshore company without a personal visit to the country.
Dubai Multi Commodities Centre is a free zone located in New Dubai on the Sheikh Zayed Road highway. It opposites Dubai Marina in the Jumeirah Lakes Towers area.
DMCC free zone was established in 2002. In October 2015, The Financial Times fDi Magazine recognized it as the best free economic zone in the world.
Dubai Multi Commodities Centre attractiveness for business
Firstly, DMCC free zone offers an extensive list of permitted activities. It accepts both trading companies and companies providing various services. In addition, the free zone management may individually allow the client to engage in an activity previously not permitted in DMCC (but permitted for companies operating in the local market). This option is available when authorities believe it will increase the zone’s prestige.
Secondly, DMCC shows flexibility in solving office issues. This free zone allows registration of companies with a virtual office, provided directly by the registrar (and entitling the company to 3 visas). The company can also choose an office from a large number of rented premises. The minimum office area (according to the registrar requirements) is approximately 50 square meters. The area of most offices offered for rent starts from 70 square meters.
In addition, the free zone checks the future company’s shareholders and management upon registration. Therefore, DMCC companies have a reputable and trustworthy reputation, that simplifies opening a bank account.
DMCC management is focused on attracting new investors as much as possible. In addition to supporting during registration, the administration holds many free informational seminars and meetings for existing companies.
DMCC free zone key features:
- The fastest-growing UAE free zone.
- Zero taxation.
- No currency control.
- High level of confidentiality. The list of directors and shareholders is closed and can be disclosed only by a court decision.
- Each company is entitled to at least three residence visas.
- Convenient location on Sheikh Zayed Road.
- Availability of various offices for rent.
- A wide range of permitted activities.
Company type: a company in which shareholders’ liability is limited to the amount specified in the Articles of Association.
License types: Service, Trade, General Trading, and Industrial licenses are available.
Share capital: minimum AED 10,000 per shareholder. It is payable within three weeks from the registration date. If a shareholder applies for a visa, the capital requirement is at least AED 50,000. Some activities require an even larger amount, such as AED 1,000,000 (USD 274,000) for a General Trading License.
Ownership and management structure: individual or corporate shareholders (maximum 50 shareholders). Director can be only an individual (from 1 to 6 directors). Also, a minimum of 1 manager is required (it can be one of the shareholders or directors). There are no requirements for the director/shareholder/manager’s place of residence.
Office requirements: virtual office (a flexi desk) or real office (from 54 square meters). A virtual office is not allowed for companies having General Trading License or more than one other license.
Visas: companies with a virtual office are eligible for three visas. Companies with a real office – five or more. Also, read our article about long-term visa by investment.
Reporting and auditing: companies are required to keep records but not to file them. In addition, a company needs to submit an auditor’s report once a year after the license renewal.
Company maintenance costs
| Registration and the first year of company maintenance | |||
| Payment purpose | Amount (USD) | Payment frequency | Notes |
| Name reservation | 274 | one-time | Paid upon application. It is not refundable in case of pre-approval refusal. |
| Application fee | 2.468 | one-time | |
| Articles of Association certification | 551 | one-time | |
| License | 5.482 | annual | Up to 6 activities from one section. Additional fees are charged if: – USD 414 for an additional activity from the same section (activity type code starts with the same first two digits, for example, 74xx-xx) – USD 2,742 for an additional activity from another section (the first digits of the activity code are the same, but the second digits are different, for example, 74xx-xx and 72xx-xx) – USD 5,482 for activity from another category (different first digits of the activity code, for example, 74xx-xx and 65xx-xx) – USD 5,482 for activity from another license type (for example, trade, service, production) |
| Office rental | 4.825 | annual | Price shown for flexi desk. Real office rental starts from USD 13,700 per year. |
| Professional services | 2.74 | one-time | |
| Total for registration | 16.34 | May vary depending on license cost and office type | |
| Maintenance from the second year | |||
| License | 5.482 | License cost depends on the type and number of activities | |
| Office rental | 4.825 | Flexi desk price | |
| Audit – from | 1.37 | Audit cost depends on the number of transactions | |
| Professional services | 1.37 | ||
| Total from the second year | 13.047 | May vary depending on the license cost, office type, and audit cost | |
DMCC company formation procedure
To begin with, the client needs to decide on the activity type and determine the company’s shareholders, managers, and directors. In addition, you have to provide three company name options. It is prohibited to use such words in the company name: Company, Corporate, Dubai, Emirates, Enterprise, Finance, Global, Group, Holding, International, Investment, Limited, MENA, Middle East, Offshore, and Overseas.
After that, the consultant will invoice 50% of our assistance cost and AED 1,000 (USD 274) of the application fee and begin filling out the forms. Next, the consultant will request passport copies and utility bills (to confirm the address) of all individuals (shareholders, managers, directors) or statutory documents in the case of a corporate shareholder.
After completing the forms, our consultant will send them for signature and ask you to send back scans. Next, the expert will apply for company registration and pay the application fee.
The next step is verifying the individuals’ documents by the free zone security service. Also, the company proposed names are sent for approval by the DMCC management and completed forms (KYC, business plan) are sent for review and approval to the DMCC legal department. Application processing usually takes 5-10 business days.
DMCC registrar has the right to request additional documents (bank statements, information about other licenses the applicant already owns, etc.).
After confirming the company name and receiving approvals from the security and legal departments, the DMCC administration issues an initial approval, valid for 90 days.
If letters of no objection from other bodies are not required for company registration, the shareholders (or their representatives), the directors, and the manager have to visit the UAE to sign the documents in the presence of the registrar. Also, clients will have to pay all remaining state fees to the DMCC (depending on the license type and the number of activities). If the selected activity type requires additional permits, the registrar will ask to obtain them and only then come to sign the documents.
Within five business days after signing the documents and paying the state fees, DMCC free zone authorities issue provisional approval. This is a letter confirming the final company registration. After receiving such a letter, the client (or a consultant on their behalf) needs to rent an office (real or a flexi desk). In the case of renting a flexi desk, the procedure for issuing and signing the agreement by the parties will take 2-3 business days. You have to pay for a flexi desk for a year; the monthly payment is not allowed.
If the client wants to rent a real office, the landlord may ask for checks to secure payment. Payments for the office are made by one, two, three, or four checks. Also, the client’s agent has to verify that the previous tenant changed the address on their DMCC license. Otherwise, the office will be in inactive status for the registrar, and the new company will not be able to obtain a license.
After signing the rental agreement, the company submits it to the registrar. When renting a flexi desk, no other documents are required besides the agreement. When renting a real office, the registrar will also ask to provide the original Title of Deed (property title document) and Fit Out Certificate (a document that confirms that the office is ready for use and meets all security requirements) released by Concordia.
Within 3-5 business days after the rental agreement approval, the registrar will issue a license, and the client will be able to receive the original Articles of Association. Your new company is now ready to start!
We would also like to draw your attention to some aspects of the registration and operation of DMCC companies:
- During registration, shareholders sign an obligation to pay the authorized capital within three weeks from the license issue date. The registrar does not check the payment but has the right to request a bank statement confirming that the authorized capital was transferred within the prescribed period at any time during the company’s existence.
- Consulting companies during registration sign an obligation not to provide financial advice.
- Some activities require retail space rental. In this case, you can not rent a flexi desk.
- Also, it is obligatory to rent a real office for companies with two or more licenses or with a General Trading License.
- When renting a real office, the client needs to issue checks for paying rent and agency fees, as well as for making a security deposit. We can help resolve this issue.
- The client can sign documents for opening a bank account during their arrival to sign the registration documents.
You can use such options to pay our assistance fee for registering a company in Dubai Multi Commodities Centre: by bank card or bank transaction, via WebMoney or Western Union systems, or using cryptocurrencies. Company opening cost starts from 16340 USD.
After you have paid the fee, we immediately begin the document preparation process.
To register a company in DMCC free zone of the UAE, individuals will need the following documents:
- Completed application with details on the business type and the founding directors and shareholders (citizenship, country of residence, address, profession, etc.).
- Passport or other acceptable ID copy for each shareholder, manager, and director. Photo and signature pages are required, as well as pages with a UAE entry stamp (even if it was several years ago).
- Shareholder/manager/director address confirmation – monthly statement from your personal bank account or utility bill (electricity, water, gas, telephone, or internet) not older than three months and in English.
- Business plan (for some activity types).
- Contact information (an address where we can send your company documents).
Contact us at info@offshore-pro.info for advice and start registering a company in DMCC free zone, and we will provide you with the best business products!
