Dubai Multi Commodities Center (DMCC) Business Setup
Dubai Multi Commodities Center (DMCC)
Dubai Multi Commodities Center free zone provides updated business modules, world-class infrastructure, and relaxed measures on acquiring approvals, permissions, registration, trade, and commercial licenses in Dubai. Dubai Multi Commodities Centre Freezone has positioned itself as a global leader for trade, commodities and enterprises supporting Dubai’s vision and enabling businesses to expand. The region is also building a strong community of commercial and residential strata in the calculated area of Jumeirah Lake Towers.
Dubai Multi Commodities Center Freezone is also the authority that directs free zone business setup at Jumeirah Lake Towers, which is another commercially mammoth region. Further, the DMCC free zone is also planning on another commercial space under the name Burj 2020. The masterplan stated Burj2020 as world’s tallest commercial tower as well as under the DMCC Free Zone. Thus, if you are considering Dubai free zone company formation, then Dubai Multi Commodities Center Freezone is the place to be. DMCC is known for accentuating the growth of its member companies by encouraging innovation, focus and efficiency.
Dubai Multi Commodities Center (DMCC) is a project of the Dubai government which strategically aims at establishing a global marketplace in the city. Standard & Poor’s has given it an “A” rating, and it offers industry-specific market infrastructure with a variety of facilities for gold, precious metals, diamonds, coloured stones, energy, and other goods businesses. More than 17,000 global corporations, small and medium businesses, and start-ups have called it home. The Diamonds and Coloured Stones Industry, as well as the Gold and Precious Metals Industry, are promoted by DMCC.
Services Provided By Dubai Multi Commodities Center
• Advertising and signage
• Land development
• Access cards
• Property leasing and purchase
• Serviced offices and flexi desks
• Office fitting
• Phone lines and telecom
• Care hire
• Insurance services
• Advisory services
• Compliance and regulation advisory
• Salary certificates
List Of Documents Required
• The pre-approval application form - online
• Copy of the firms’ shareholders', manager's, director's, secretary’s, and legal representative's passports.
• A ‘Know Your Client’ form of the shareholders, directors, managers, secretaries, and legal representatives is required.
• For shareholders, directors, managers, secretaries, and legal representatives, a letter of ‘no objection’ from the sponsor is required.
• Form for shareholder, director, manager, secretary, and legal representative to sign as a sample.
• Memorandum of Association and Articles of Association Undertaking letter for share capital deposit Shareholder resolution
• Proof of a dwelling address in the country of origin
• Copies of documents from the parent company
• Approval by a third party for certain regulated businesses.
DMCC Business Setup Procedure
• The initial request is to be made on the official website.
• Fill out all the registration forms and depositing the registration fees. .
• Submit all required documentation.
• Submit the required documentation for the licence, which must be approved
• Visas, residency permits, and other types of permits can be submitted once the licence is obtained.
Various Clubs At Dubai Multi Commodities Center
• Food Trade Group- It can help you increase your sales by introducing you to suppliers who work in both the food and the businesses related to it. Risk mitigation, market knowledge, easier access to credit, and access to all transaction data are some of the club's additional benefits.
• Energy Club- The Energy Club hosts regular collaborative meetings for energy industry professionals from all around the world, regardless of where they do business. The Energy Club's main goal is to share knowledge and provide a forum for membership where one can ask questions and offer suggestions for improving the sector. Its goal is to give members the most value possible by listening to their requirements and allowing them to express and discuss hot topics. With the help of the members, it delivers news and viewpoints from across the sector, including economic, technical, legal, and other related areas. It functions under the Chatham House Rule, which preserves the members' privacy.
• Maritime Club- It has exposure to Dubai Maritime Intelligence as well as research possibilities. It serves as a platform for good networking opportunities. Also, the chance to network with maritime experts from all over the region.
• Astrolabs- It is a Google-affiliated technology centre. It offers a unique licence that allows start-ups to collaborate with other like-minded businesspeople with no upfront charges.
Various Financial Services Offered By DMCC
• DMCC Tradeflow- DMCC Tradeflow is a customizable and adaptable online platform for registering the possession and ownership of commodities kept in UAE-based facilities. It offers a variety of online services which are tailored to help with collateral lending, jewellery financing, and Islamic finance solutions. The capacity of DMCC to engage alongside the worldwide commodities business, develop numerous relationships, and focus on establishing trade facilitating eco-systems has been a major factor in Tradeflow's success. DMCC Tradeflow was founded in 2004 and has since grown from a warehouse receipt system to functioning as UAE's commodities trade regulator as part of the Government of UAE. The company's continual performance excellency has led to its expansion, as well as the creation of several unique trading platforms which cater to the trade financing needs of growing countries like India and China.
• Dubai Shariah asset management- Dubai Shariah Asset Management (DSAM) is an Islamic finance collaborative effort between the Dubai Commodity Asset Management, a DMCC division, and Shariah Capital - an Islamic finance provider. Its goal is to create commodity-focused investments that are Shariah-compliant. The first item is a limited-edition series of single-strategy, transparent hedge funds that are registered on the Al Safi Trust platform and marketed as DSAM Kauthar. The Al Safi Trust guarantees that the investment assets are routed to Barclays Capital New York's independently managed accounts.
• Dubai gold and commodities exchanges- The Dubai Gold & Commodities Market (DGCX) began trading in November 2005 as the country's first commodities derivatives exchange. DGCX is a subsidiary of the Dubai Multi Commodities Centre (DMCC), a strategic project of the Dubai government with the goal of improving commodity trade flows via the Emirate by delivering the necessary market, physical, and financial services, and infrastructure.
FAQs On Dubai Multi Commodities Center (DMCC)
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