Dubai Multi Commodities Centre is one of the fastest growing and largest free economic zones in the United Arab Emirates with over 10,000 registered companies as of 2015. It was established in 2002 as a strategic plan of the Government of Dubai in order to create a business hub for commodity related businesses. In 2015, DMCC Free Zone has been named “Global Free Zone of the Year” 2015 by The Financial Times fDi Magazine. So, it is officially the best free zone in the world.
DMCC provides the physical, market, legal and financial infrastructure required to set up commodity businesses in Dubai. DMCC regulates, promotes and facilitates trade across a range of commodities including gold, diamonds, pearls, precious metals and tea. Major multinational companies, SMEs and start-ups in the commodities, oil and gas, general trading, service providing sectors have setup their offices in DMCC Free Zone.
Dubai’s strategic location as a bridge between Europe, Africa and Asia makes DMCC one of the prime business destinations for a commodity business. DMCC has been recognised as one of the major players in the global commodities markets. It also provides transparent legal and regulatory frameworks, flexible office solutions, freehold property and outstanding customer support.
DMCC’s Unique Location
The area where DMCC operates is called Jumeirah Lakes Towers (JLT), which is a 200-hectare development comprising of high-rise towers grouped into clusters. Each cluster has three office and residential towers. JLT is located at the centre of new Dubai, near to Dubai Marina, Tecom and Jumeirah Beach Residence. Located on the main arterial Sheikh Zayed Road, JLT is also served by two metro stations: Jumeirah Lakes Towers and Damac Properties metro stations. Both Dubai International Airport and the new Al Maktoum International Airport can be reached within 30 minutes from JLT area.
DMCC Free Zone issues following types of licenses:
- Commercial/Trading License– allows the holder to import, export, distribute, consolidate and store products that are specified in the license.
- Service License– allows the holder to carry out service or consultancy activities that are speciﬁed in the license.
ADGM located in Abu Dhabi, the capital city of UAE, which offers a stable political environment, and enjoys one of the world’s highest GDP per capita. The following are some of the reasons why you may consider a business setup in ADGM.
- Full foreign ownership,
- no taxation,
- no restriction on capital repatriation,
- no import/export duty,
- unique location in the new center of Dubai,
- well-organized online system
- High reputation