Permissions

• General Trading License

Business setup with General trading license allows consolidating, distributing, import, export, and store number of types of products.

• Commercial Trading License

Business setup under Commercial/ Trading License allows to consolidating, distributing, import, export, and store number of types of products that are specified in the license.

• Service License

Business setup under Service License will allow you to carry out activities like service or consultancy that are specified in the license.

Capital Requirement

• The minimum share capital for a DMCC Free Zone is AED 60,000 (approximately USD 17,000) per shareholder, i.e. two shareholders would mean a minimum share capital of AED 120,000.

Physical local office is mandatory.

Desfran shall seek to understand your business activities and goals to assist with your business plan drafting that best encompasses this whilst still being compliant to the prevailing regulations. Desfran shall also advise on the possible questions that might be posed by the regulator.

• Allowed to operate business both within and outside UAE, depending on type of license obtained
• Application of an outside-country visa is required to facilitate the local Dubai corporate bank account opening
• Physical presence required for the opening of a local Dubai corporate bank account (mandatory for the paid-up share capital deposit)
• Able to acquire assets, domestic & international shares
• May conduct business globally, within the jurisdiction of the free zone

Due Diligence is necessary to formally verify the identity of all clients of the firm. The following documents are required to conduct due diligence for the license application:

• A copy of the photo page of the passport ceritifed by a notary public for each director and shareholder;
• A copy of proof of address (issued within the last 3 months) by a notary public for each director and shareholder;
• Curriculum Vitae (CV);
• Business Plan;
• Financial Forecast;
• Organisation Chart;
• For company directorship or shareholdership, a certified copy of the constitution documents of the company and above details on each director and shareholder of the company;
• Other supporting document when necessary.

Along with your application, you may need to submit additional documents to obtain your business licence in DMCC:

• Upload Third Party NOC – Third-party approval may be required for certain regulated business activities. If this is the case, please reach out to the relevant third-party authority to receive a No Objection Certificate. Upload the NOCs once received.
• Upload Bank Letter – If your share capital is more than AED 500,000, please reach out to your preferred bank with the introduction letter provided by DMCC to receive the bank deposit letter.
• Upload Property Documents – In case your selected property type is not a Flexi Desk, please arrange for the property documents and schedule a meeting with your assigned Business Setup Executive.

Please note that these additional documents may not be required if the Share Capital is less than AED 500,000. We recommend that you consult with Desfran to understand what documentation will be required for your business licence.

DMCC is a government entity established in 2002 to enhance commodity trade flows through Dubai. They perform a range of roles which continue to position Dubai as the preferred destination for global commodities trade and DMCC as the world’s No.1 Free Zone.