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DMCC Celebrates UAE Flag Day 2019

/ DMCC / By businessadmin

DMCC’s executive management and employees celebrate UAE Flag Day at its headquarters in Almas Tower in JLT.

Source:- dmcc.ae

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Frequently Asked Questions

What is a Freezone Company?

Free Zone Companies are registered and listed with a Free Zone Authority (e.g DMCC). A DMCC Free Zone Company does not require you to have any Local UAE Citizen Partner and can be 100% owned by any foreign citizen and/or company.

DMCC Free Zone companies can be registered as an Individual, Branch, and/or Subsidiaries of Local UAE or Foreign Companies.

Can I choose any name for my DMCC Free Zone Company?

Yes, you can choose any name yourself. However, the registration will go through the DMCC Authority and Dubai Economic Department approvals.

How many number of employees can I hire in my Free Zone Company?

The number of employees you can hire depends on the Office Space you lease. If you require more visas than the allocated number, additional fees are applicable. At Mayfair Executive Office, you get 3 Visas and 1 PIC per office, regardless of the size.

Do I need to have a physical address to acquire a company in DMCC?

It is mandatory to acquire a facility upon issuance of the License. You can either rent or buy a Flexi Desk, Serviced Office, Physical Office, Retail Space and Warehouses or Open Land for Industrial Units.

Having an office facility is a mandatory. DMCC Free Zone companies are only allowed to have an Office Facility inside DMCC Free Zone in Jumeirah Lakes Towers (JLT).

What are the types of visas provided by DMCC?

DMCC provides three types of visas: employment visa, dependents residence visa, and business visit visa.

What is the minimum Share Capital requirement for a DMCC Free Zone Company?

The amount of the Share Capital varies depending on the chosen activity. A minimum required Share Capital for a Service/Commercial Trading License is AED 50,000; and AED 1 Million for General Trading. This amount must be deposited in the company’s bank account and once Share Certificate is issued by the bank, money can be withdrawn thereafter.

Can I open a UAE Bank Account with my DMCC Free Zone Company?

Yes, you can and there is a wide variety of good banks to choose from.

Will I be able to trade inside and outside UAE with my DMCC Freezone Company?

Yes, you are allowed to trade locally and internationally but subject to the Rules and Regulations of DMCC Free Zone.

Whats are the costs and documents involved in setting up a DMCC Company?

The documents and the company setup costs will depend on the activity chosen. To get a better idea about the costs involved, click here.

How long will it take to setup a DMCC Free Zone Company?

Company formation in DMCC has a minimum processing of 3-6 weeks. However, the speed of approvals will depend on the chosen activity, certification and attestation requirements.

Can Park Avenue Offices help me with all the official work with DMCC?

Yes, Park Avenue Offices has a team of professionals well versed with the DMCC rules and regulations and will help you with all documentations and procedures.

*Terms & Conditions apply.

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