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Dubai Multi-Commodities Centre

Dubai Multi-Commodities Centre

The Dubai Multi-Commodities Centre (DMCC) free trade zone was founded at the beginning of 2002 as a versatile FTZ which is specialized on the trade of the exchangeable goods – commodities. It is the strategic project of the Government of the Emirate of Dubai, which is aimed at creating a regulated commodity market in the UAE with the entire required infrastructure. In fact, the DMCC free trade economic zone is the integrated market framework which unifies the various types of economic and commercial activities, connected with the raw materials and commodities, and provides the participants of the commodity market with the necessary tools and services.

 

DMCC: purpose and strategic objectives

The DMCC FTZ with special free zone economic status, as a business platform, is designed for international companies and enterprises which deal with the following commodity groups:

  • oil and petrochemicals;
  • diamonds, pearls and precious metals – gold, silver, etc.;
  • coffee, cotton and other commodities.

Besides, the Dubai Multi-Commodities Centre FTZ jurisdiction allows the registration of companies which provide residents of the district with the appropriate social services (catering, shops, beauty salons and fitness centers, etc.). The registration of companies with other licenses is also available in this FTZ of Dubai.

The major commodity groups of the Dubai Multi-Commodities Centre

It is worth noting that among the various goods on the Multi-Commodities FTZ there are four major commodity groups, in particular:

Gold: the DMCC free trade economic zone has the appropriate infrastructure for production, processing and trade in gold and other precious metals. Entrepreneurs and investors can always use the services of a consulting expert group, which will help to implement this type of business.

Pearls: since ancient times, the territory of the United Arab Emirates was famous for the production of sea pearls. The services for the foreign entrepreneurs and investors include: commercial space, a simplified procedure of customs clearance of goods, the availability of the specialized center of evaluation of precious stones and metals, the annual international events and forums, organizing of pearl auctions and etc.

Diamonds: one of the main purposes of the DMCC project is to maintain and stimulate the development of the national diamond industry and the market of the precious stones. The free trade economic zone is intended to provide the material and technical infrastructure for the effective and secure trading. It is the ideal international platform with completely transparent structures of cooperation between the state and the private business.

Tea products: there are over 24 thousand square meters of commercial space for trading in tea products on the territory of the DMCC free trade economic zone. The shopping centre is located close to the international shipping port of megalopolis Dubai. The entrepreneurs can use the business center and the production facilities for the prepacking and packaging of tea products. In addition, the expert support service is functioning on the territory of the area, which can organize various events and provide business consulting assistance.

Services for potential investors and businessmen

The clients of the DMCC specialized free trade economic zone (FTZ), can count on the following list of public services:

  • Provision of the legal and consulting support during business registration and visa procedure for shareholders, members of their families and employees. It should be noted that the simplified procedure of obtaining the appropriate visas is available for companies which are already existing;
  • Investors are offered a wide range of tools and services that contribute to the development of industry and national entrepreneurship overall. The specialized storage facilities for precious stones and metals, a set of specialized financial products (in the area of loans and finance), consulting services of the expert group are offered for the service of international companies;
  • Foreign entrepreneurs and businessmen have the opportunity to participate in long-term investment projects. The possibility of investing the capital in the construction of real estate and leasing of necessary commercial, office or industrial areas is provided.

DMCC free zone: available business licenses

The companies must obtain the appropriate government license to carry on the respective economic activity in the DMCC jurisdiction. The norms of corporate law presume the possibility of obtaining the following types of business licenses:

  • Commodities License (Exchange license): this type of business license allows companies to carry out the business activities associated with the trading in various commodity groups (gold, oil, pearls, cotton and etc.);
  • Non Commodities License (non exchange license): business license which allows to carry on the economic activities which are not related with trading on the exchange (professional services, consulting, retail, catering, advertising, marketing, etc).

The registration of the following legal forms of international companies is available to obtain a government business license:

  • With Commodity Activity (FZC WCA): companies which are registered on the territory of the Free Zone and operate on the basis of the Commodities License;
  • With Non Commodity Activity (FZC WNCA): companies which are involved in the servicing, professional services and do not participate in the exchange trade;
  • Foreign Company Branch (FCB): branch or representative office of a foreign company.

Advantages and benefits of the Dubai DMCC economic zone

The features of the Dubai Multi-Commodities Centre (DMCC) free trade economic zone jurisdiction provide an international business with the number of objective opportunities and competitive advantages. In particular:

  • Possibility of 100% company ownership by foreign citizens;
  • Exemption of international companies from corporate taxation;
  • No government restrictions on distribution of the gained profits and repatriation of investment assets;
  • Regulatory processes and legal framework which meets the international standards;
  • An ideal business environment, built on the principles of transparent cooperation;
  • Perfect infrastructure, efficient transport solutions, modern communications and means of communication;
  • Usability and simplified procedure of company registration and visa processing (the principle of "one window").

Conclusion

The economic zone DMCC with the special status is an example of a rapidly developing successful project. Thousands of international companies are registered annually in the DMCC jurisdiction, and this number is increasing every year and indicates the active growth. Benefits for businesses and the utmost simplified procedures of registration, licensing and visa procedure contribute to the popularity of this free zone. Also, the favorable location is the very important factor of its success.

Use the “Contact us” form to find out which advantages and possibilities of the Dubai Multi-Commodities Centre (DMCC) free trade economic zone will help your business to reach an entirely new international level.