How Dubai Multi Commodities Centre Boosts Small, Medium, And Big Companies

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When you have over 50 Free Zones to select from in the UAE, it might be challenging to make a solid choice as a foreign investor. Before establishing a company in one of the UAE Free Zones, you must do thorough research and make an informed selection. Keep in mind that each Free Zone has its own set of expenses, a comprehensive list of approved company activities, facility alternatives, and various share capital requirements.

So you want to know more about choosing UAE Free Zones – which is best for your business? The process may be quite nerve-wracking and cause a headache. Given the vast quantity of information available on the internet, going online will not help you feel any less anxious. That is why we will explain everything about the largest and most business-friendly zone – DMCC – Dubai Multi Commodities Centre.

Perfect location

You’ll have to decide if your UAE firm needs to be near a seaport or an airport. To keep your costs down, you want to use the most efficient transportation routes and hubs. This is particularly significant if you want to establish a trading firm in the United Arab Emirates. Finally, remember to do a competition study to determine your competitors in your chosen industry.

Given its extensive infrastructure, the DMCC Free Zone is the leading site. If you want a luxury office in one of the numerous spectacular towers that can handle workers, clients, and meetings, this Free Zone is the place to be. The DMCC offers both rental and purchase options for offices of all sizes. On the other hand, most Free Zones have offices that belong to the Free Zone Authority and may only be leased.

Easy licensing

You may have up to six business operations under the same kind of license in the Dubai Multi Commodities Centre (DMCC) Free Zone. If the activity codes begin with the same first two numbers, you will avoid extra expenses. Under specific situations, you are authorized to hold various types of licenses while operating inside the same Free Zone. A separate physical location is not required for each business.

The DMCC Free Zone License is a provisional license valid for one year and may be extended to two years subject to review after the first year. At the end of that period, an application must be made for a permanent license if the applicant intends to continue with the business operations covered by that license.

The best part of this region is that it does not allow any company to capture the market or pull out another company from the market. The market for commodities stays open and is accessible to everyone. It helps increase competition among different companies, which leads to the betterment of products with lower prices. This way, everyone can enjoy the benefits of trading.

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Care for financial health

Some UAE Free Zones demand the submission of financial statements and an annual audit report, while others do not. An annual audit report is required in the DMCC Free Zone at the conclusion of the financial year or as stipulated by the MOA. Many companies usually get stuck in the middle while doing business due to a lack of good credit history. Dubai Multi Commodities Centre solves the problem as they provide guarantees and insurance that help companies do business properly. In this way, small as well as big companies can do business without any problem. This way, both the parties get benefits and achieve their targets.

The report must also be provided by one of the UAE auditors listed on the DMCC Approved Auditors List. You will be penalized if you do not submit the report by the deadline. This way, you will always be able to stay on track, and no matter what your company’s size, you can act swiftly if you see that your financial health is not that great.

Conclusion

Dubai is a free market economy because the government doesn’t interfere with businesses or try to control them beyond certain limits imposed for safety reasons. So as long as they don’t break any laws, businesses are let alone and can even have 100% foreign ownership of their companies. And with no taxes on income, there really isn’t a reason not to start your own business., especially in the Free Zones such as DMCC, where the registration is simplified.

The additional bonus of it being a free market economy is that the demand for employees in Dubai is high, and there’s a lot of opportunity for career growth. It means you can enjoy living here while working towards expanding your company. Also, you can attract talents from any place in the world, and they can grow together with your company. Home of many investors, Dubai will provide endless possibilities for networking, and you can even use Dubai as a hub while expanding to other markets.