A stable political setup, consistent and liberal economic regime, diversified economy, equal opportunities to grow for everyone, a competitive but thriving market, regional trade hub, and strategic location make Dubai as the one of the top spots on the list of business destinations with the new and seasoned entrepreneurs and businessmen worldwide. Moreover, the Government of Dubai has put on offer several benefits and advantages to the incoming businesses and companies which has further acted as a catalyst and helped the state to make its mark as a trade hub on the world map of business and trade. Read on to know the benefits of DMCC business setup.
Following are some of the benefits of setting up your company in the Dubai Multi Commodities Center (DMCC), which was founded in 2002.
- Unlike setting up a company in Mainland Dubai where you have to share your company’s ownership with a local partner, you don’t have to settle for any such arrangement when you establish your business in the DMCC. You will enjoy full foreign ownership of your company.
- The companies which are set up in the DMCC enjoy 100 percent tax exemption.
- The foreign companies established in the DMCC have the right to 100 percent repatriation of their profits and capital.
- The DMCC companies don’t have to pay taxes on import or export of their goods and machineries.
- The companies operating at the DMCC are offered flexible commercial lease terms and regulations.
- At DMCC, the foreign companies can select from a huge range of business activities.
- Unlike any other state or the mainland Dubai, foreign investors need minimum documents to get things rolling at DMCC.
- No company is required to present proof of share capital at DMCC.
- There is no restriction on selection of currencies for business transactions.
- The DMCC authorities offer state-of-the-art facilities and infrastructure to the investors and businesses.
If you’re looking to set up your company in Dubai Multi Commodities Center, always make sure you have the right PRO service team and Arabic-speaking official so as to help you in communicating with the local authorities and assist you in a streamlined company registration process. As a business owner, you must make sure what sort of industry you’re entering and which products you’re going to sell to the local market. You should also have a clear mind about the import/export of various products so that you tap the right market with the right product. For information about business setup in DAFZA, click on the link.