DMCC Free Zone Company Formation – Type of Companies and main Characteristics:

1. DMCC Free Zone  Limited liability company (FZ LLC) as a newly formed entity with single or multiple shareholders
2. DMCC Free Zone Limited liability company (FZ LLC) as a wholly owned subsidiary of local or foreign company
3. Branch

• A branch is considered a legal entity of its parent company
• An entity established outside of the DMCC Free Zone can establish a branch within DMCC.

DMCC Free Zone Company Formation – Type of Licences DMCC Free Zone:

Type of licence depends on type of activity your business participates. Licenses for a full range of business activities:

• Trading
• Service
• Industrial

DMCC Free Zone Company Formation – Feature of DMCC Free Zone

• Time to form: 5-6 weeks
• Personal Presence Required: Yes for bank account opening
• Place of business: Allowed to do business internationally, in the UAE, and have an office in Dubai
• Confidentiality: 100% confidentiality

DMCC Free Zone Formation Structure

• Registered Office: Yes required, DMCC Free Zone / Jumeirah Lakes Towers, Dubai.
• Directors: Director can be of any nationality and need not be resident in the UAE. Corporate directors are permitted.
• Number of directors needed:  The minimum number of directors is two.
• Shareholders:  FZ LLC can be formed with one or more shareholders
• Share Capital requirement: The minimum share capital for a DMCC Free Zone company is AED 50,000 per company and AED 10,000 per shareholder.The share capital needs to be deposited in the company’s local bank account within three weeks from the issue date of the company’s license. It can be withdrawn anytime thereafter
• Branches of companies do not have a share capital requirement
• Foreigner ownership: 100% foreign ownership
• Local sponsors requirement:  Not required
• Any restrictions on capital repatriation: 100% repatriation of capital and profits. No restriction on capital repatriation.
• Name of a Company: The name of the company may end with the word “DMCC”
• Company office in UAE: Allowed to have an office in the UAE

DMCC Free Zone Company shall not use restricted words in the name or trade :

• Unless with the approval of the Registrar in writing the name shall not include the words “Bank”, “Trust Company” or “Trustee Company”, “Assurance” or “Insurance”, “Chamber of Commerce”, “Municipal” or “Municipality”, “Global”, “International”, “Middle East”, “UAE”, “Emirate” or “Emirates” or any other word which in the opinion of the Registrar may suggest:-

(a) a connection with the Government of the Federation of the United Arab Emirates, its agencies or identical bodies of any of the member States of the Federation;

(b) the patronage of their Highnesses the members of the Federal National Council.

• Trading Restrictions of DMCC Free Zone Company:  Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted

DMCC Free Zone Company Formation – Confidentiality and Privacy

• Publicly Accessible Records (relating to company officers):  No names are disclosed
• Disclosure of Beneficial Ownership to Authorities:  No names are disclosed
• Location of Meetings of Directors and Shareholders:  Anywhere

DMCC Free Zone Legislation and Government

• Government: DMCC Free Zone Authority
• Governing corporate legislation:
• Language of Corporate Documents:  English/Arabic

DMCC Free Zone Company Formation –  Books and Records

• Requirements to File Accounts: None
• Audit Requirements:  Audited  Accounts required to be lodged annually
• Requirement to File Annual Return:  None

DMCC Free Zone Company Taxation & Fees  

• Any corporate tax:  0% corporate and personal income tax rate guaranteed for 50 years
• Any Personal Income tax:  No personal income tax
• Taxation:  0
• Double Taxation Treaty Access:  None
• Are there imports or re-exports duties: Total exemption from all import and export duties.
• Annual Renewal Fees:  Has to be paid on the anniversary of the company and every twelve (12) months thereafter

the company and every twelve (12) months thereafter

DMCC Free Zone Company Formation –  Land and Facilities 

• Facilities:  Each facility is designed to meet the specific needs
• Plots of Land:  DMCC provides plots of various sizes for short and long-term lease

Bank account for DMCC Free Zone Company

• Business bank account: Bank account can be opened in any banks in the UAE

DMCC Free Zone Visa

• Possibility to get resident or employment visas for investor:  Possibility to get resident or employment visas for investor and employees.

DMCC Free Zone Currency

• Standard currency:  Dirham (AED).
• Exchange Control:  No Taxation Treaties with other countries; No requirement for exchange of information with other Tax Authorities.
• Any Currency restrictions:  No currency restrictions.

DMCC Free Zone – How to Proceed

Three simple steps to register your company in DMCC:

• We will help you to select a company type, licence type, size of office (land).
• We will complete all necessary documents and submit them the register.
• We first submit name preferences and copy passport this has to go through Immigration clearance which is the longest wait although should be about 2 weeks it can take longer. Once approved we pay the fees submit the application and await formation and issue of Trade License and MOA this takes about 2-3 weeks.
• You will receive your license and product(s).

Documents Required for DMCC Free Zone company formation

Individuals:

• Passport copy (visa page copy, if applicable)
• Proof of residential address (e.g. utility bill copy)
• Summary of business plan, if applicable
• If applying as a branch or a subsidiary, copies of the parent company documents to be notarised and attested
• No Objection Certificate from sponsor, if holding a valid UAE visa
• Certain business activities have additional requirements (e.g. third party approvals from regulating authorities)

or service licence

• Capital: Abu Dhabi
• Political System: Democracy
• Government: Monarchy
• Governing corporate legislation: Offshore Regulations 2006
• Type of Law: Civil
• Currency: Dirham (AED)
• Exchange Control: None
• Language of Legislation and Corporate Documents: English/Arabic
• Time zone: GMT+4