Dubai Multi Commodities Centre (DMCC) stands as a prominent free zone in Dubai, recognized for its focus on commodities trading and diverse business activities. Obtaining a DMCC trade license involves a series of essential steps to understand the regulatory framework and set up a successful business.
Business activity selection
The first step is to clearly define the nature of your business activities. DMCC offers licenses for various sectors, including commodities trading, general trading, and specific industry-focused activities. Identifying the precise nature of your business is crucial for selecting the appropriate license category.
Choose the right license types
DMCC provides several license types, including Trading, Service, and Industrial licenses. For trading activities, a Trading License is appropriate, while a Service License is suitable for businesses offering services. Industrial Licenses are for companies engaged in manufacturing and related activities. Choose the license type that aligns with your business operations.
Company structure and share capital
Determine the company structure and share capital requirements. While DMCC allows 100% foreign ownership, understanding the share capital specifications for your chosen license type is essential. The share capital may vary depending on the business activities and license category.
Choose the right free zone entity
DMCC offers various business centers within its free zone. Choose the right entity and location that suits your business needs. Each business center may have unique features, amenities, and advantages, so it’s crucial to align your choice with your operational requirements.
Submit application and documentation
Prepare and submit the required documentation for the trade license application. This typically includes a business plan, passport copies, and relevant forms. Ensuring that all necessary paperwork is accurate and complete is crucial for a smooth application process.
Once the application is submitted, DMCC reviews and processes the request. The approval process involves assessing the business plan, compliance with regulations, and other relevant factors. Timely responses and cooperation during this phase can expedite the approval process.
Office space and infrastructure
Secure suitable office space within the DMCC free zone. The choice of office space may depend on your business needs, and DMCC offers a variety of options, including flexi-desks, offices, and warehouses. Having a physical presence in the free zone is a mandatory requirement.