04 Apr Learn about investing in the Dubai Multi Commodities Center
There are many free zones in Dubai, and huge investments increase with them, and they increase year after year. One of the most important free zones in Dubai is the Dubai Multi Commodities Center, as it is considered the number one free zone in the United Arab Emirates. The free zone in the Dubai Multi Commodities Center was also ranked first for the fourth year in a row by the Financial Times magazine as the winner of the “Best Free Zones in the World” award, and this is due to the strong policy taken by the government of the Emirate of Dubai in cooperation with the UAE government in establishing strong foundations And supportive of successful investment and transforming Dubai, rather the UAE, into the investment destination in the world.
Advantages of the Dubai Multi Commodities Center area
- Dubai Multi Commodities Center is located in the Jumeirah Lakes Towers area. Which is characterized by real estate built by major international companies, which includes commercial and residential towers, and resembles a city within a city.
- It contains a transportation infrastructure, as it contains two metro stations, and it also works on easy access to the main highways in Dubai.
- Dubai Marina and Palm Jumeirah are just across the road. The city center is a 10-minute drive away.
- It has commercial centers, offices, clinics, schools and sports clubs in the same area.
The facilities provided in the Dubai Multi Commodities Center
- 100% full foreign ownership of companies
- No taxes (no personal income taxes and no corporate taxes)
- No restrictions on returning capital
- There are no import/export duties
- Central location in Dubai with 2 metro stations
- Well organized electronic system for using government services
- The Dubai Multi Commodities Center Free Zone is the fastest growing in the United Arab Emirates
- Recognized as the best free zone by FDI International magazine
- Flexible office solutions
- World class infrastructure
- Various trading platforms such as the Dubai Gold and Commodities Exchange (DGCX), Dubai Diamond Exchange, The Pearl Exchange of the Dubai Multi Commodities Centre. Dubai Multi Commodities Center Tea Center
Types of licenses provided by the Dubai Multi Commodities Center
The free zone in the Dubai Multi Commodities Center offers a variety of licenses that suit all investors and suit different activities, and one of the most important of these licenses
- A commercial license that allows the import, export, distribution, consolidation and storage of almost all types of products
- The industrial license allows the implementation of the light industrial production activities specified in the license
- Service license: Permits to engage in service or advisory activities specified in the license
- Company Branch A license that allows opening a branch of an existing establishment and conducting free zone business in the Dubai Multi Commodities Center
Activities that are allowed to be practiced in the Dubai Multi Commodities Center
There are many commercial activities that are allowed to be practiced in the Dubai Multi Commodities Center area, as this area provides the largest number of activities for its investors, and these activities are as follows
- Agriculture
- Transportation, storage and communications
- Mining and quarrying
- manufacturing
- Electricity, gas and water
- Community, social and other personal services
- Trade and repair
- Hotels and restaurants
- fishing
- financial mediation
- education
- Health and social work
- Building
Steps to establish a company incorporation in the free zones of the Dubai Multi Commodities Center
Whoever wants to invest in Dubai must take some necessary measures to conduct his commercial activity and establish his company, and these procedures are represented in several matters.
- Determine the type of activity that the company will carry out, whether it is commercial, industrial, tourism or recreational activity
- Preparing papers, papers and documents related to the company and having them approved by the competent and concerned authorities
- Reserve and choose a commercial name for the company, and some conditions should be taken into account in choosing the name, such as not containing offensive words or violating public decency, The name does not include the word “His Majesty” or the names of trademarks or names of logos, Most importantly, the name should not have been previously reserved for another project
- Obtaining the initial approval from the relevant government agencies
- Choosing a site for the company and documenting a lease contract for the company’s headquarters
- Completion of issuing licenses for the company
With this, we have clarified the important point for those who wish to invest in the Dubai Multi Commodities Center region, explaining the advantages and facilities provided by the region, knowing the types of licenses and activities that are allowed to be practiced.
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