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dmcc company formation

DMCC Gaming Centre, Dubai
Blogs

DMCC Gaming Centre: The Ideal Destination for Setting up your Gaming Business

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DMCC Gaming Centre: The Ideal Destination for Setting up your Gaming Business The gaming industry in the Middle East has crossed 2 billion dollars in 2021 with around 70 million gamers. The UAE market is the third largest in the region with an annual revenue of 200 million dollars. DMCC Gaming Centre is a promising ecosystem for gaming industry that houses more than 50 companies. It offers world-class business services and infrastructure for gaming companies to grow and provide easy access to key industry players. Advantages of Setting Up a Gaming Business in DMCC Gaming Centre No personal and corporate tax. 100 % ownership for expats. Full repatriation of capitals and profits. No currency restrictions. A dedicated online portal and online solutions for customer services. Secure, regulated business environment. Effective immigration services including visa support. Connect with 21,000+ member companies from 180+ countries and 20+ business sectors offering you unlimited opportunities. World-class infrastructure and connectivity for companies and game developers DMCC encourages companies to synergize with Crypto, Metaverse and Web3 communities and benefit from the prospective partnerships. A company gets easy access to grow at every stage of the business journey. They can also invest in growing their business. Flexible business setup solutions such as setting up a branch, subsidiary or limited liability company. Also provides co-working spaces, ready-to-occupy offices for sale or lease. A beautiful ambience with waterfront, community park and an alluring skyline of 87 towers. Enjoy a quality lifestyle with restaurants, hotels, education facilities and healthcare in the heart of Dubai. Be a part of the Knowledge Series, a regular programme of lectures, workshops and seminars designed exclusively for DMCC members. Delivered by industry experts, these events cover a variety of topics, including Gaming and Crypto. DMCC provides a wide number of gaming licence options to members. Listed below are the activities offered to gaming and esports license: Gaming Academy Development Publishing Content Production Engine Operation Studio Services Industry Research Consultancy Services Community Management Online Service Offshore Gaming Operator Metaverse Services Esports League Operator. Data & Analytics Services. Event Management. Online Publication. Tournament Support Platform. Virtual Reality & Augmented Reality.   The Dubai Multi Commodities Centre Authority (DMCC) is the number one free zone according to global ranking (fDi*) located in the heart of Dubai with more than 21,000 companies. If you wish to set up your gaming company in DMCC gaming centre, our team of experts will guide you through every step, get all necessary approvals and set up your company in a faster timeframe than what you expect. Call us at +971 55 843 2911 or drop an email at info@corpinconsultants.com for more information.

Company Incorporation in DMCC
Blogs

Steps for Company Incorporation in DMCC

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Steps for Company Incorporation in DMCC Dubai Multi Commodities Centre or DMCC is one of the most sought-after freezones in UAE for trading international commodities. With over 20,000 established businesses, it is the perfect place to set up your dream business. DMCC Freezone provides licenses for various business activities in 20 sectors including Energy, Commodities, Gold and Diamonds, Technology, Constructions, FMCG, Healthcare, Aviation, Shipping, Education, Media, Professional Services, Financial Services as well as Personal and Community Services. Advantages of Setting Up your Business in DMCC Enjoy 100% ownership & Capital Repatriation Connect with experts from 20,000 companies Strategic Location Hassle-free Licensing and Registration procedure Top-class infrastructure Choose from a multitude of industry-specific activities Ability to purchase premises Economical freight rates Affordable Company Setup Costs 50-year tax holiday assured on personal and income taxes No foreign exchange controls or barriers to entry Ability to set up a branch, subsidiary or new limited liability company Flexible office space solutions including flexi-desks and business centres for lease or sale Required Documents for Company Incorporation in DMCC: If Individual Shareholder Three proposed company names Passport copy of the shareholder, director, HR signatory and Manager Latest Utility bill of the shareholder, director, HR signatory and Manager Experience details of the shareholder, director, HR signatory and Manager Proposed business activities Business Plan (If required) Note: Documentation requirements are not exclusive lists and any further documents or information required by Government Authorities during the course of company incorporation in DMCC has to be provided by the company. If Corporate Shareholder Certificate of registration/incorporation Certificate of the parent company – Notarized from country of origin Memorandum of association and Article of Association of the parent company – Notarized from country of origin Certificate of Good standing/Incumbency certificate of the parent company – notarized from country of origin Board Resolution of the parent company (template shall be provided) – duly attested and notarized by the UAE embassy in the country of origin and Ministry of foreign Affairs, UAE Ultimate Beneficiary Owners (UBO) details of the parent company Passport copy of the Director, HR signatory, Secretary and Manager Latest Utility bill of the Director, HR signatory, Secretary and Manager NOC from sponsor, if the Director, HR signatory, Secretary and Manager is holding valid residency visa in UAE Experience details of the Director, HR signatory, Secretary and Manager Proposed business activities Business Plan Note: Documentation requirements are not exclusive lists and any further documents or information required by Govt. Authorities during the course of company incorporation in DMCC has to be provided by the Company. If the parent company is not a listed company, then documents 1,2,3 should be duly attested and notarized by the UAE embassy in the country of origin and Ministry of foreign Affairs, UAE for bank account opening. Steps for Company Incorporation in DMCC 1. Preparing the necessary documents Initiating the company registration process by filling in all the necessary documents. 2. Select the right license according to the activity Select from these three license options in DMCC according to your activity: Trading, Service and Industrial. Trading license permits the buying and selling, and import and export of goods from, to, and within the UAE. Service License is necessary for delivering services in sectors such as professional, legal, financial, media, technology, education, energy and healthcare. It is also ideal for representative offices of foreign companies, holding companies, family offices, and for retail activities such as restaurants & cafes. Industrial License is given for light manufacturing inside DMCC such as making jewellery with precious metals & stones and for Coffee & Tea related activities (blending, packaging, roasting, storage etc. 3. Name & Initial approval Applying for the company name with 3 proposed names. Authority would approve one company name by order first in first if it is available. DMCC company names ends with DMCC not with FZE, FZC or FZLLC. 4. Renting an Office Space The next step is to rent an office space/Virtual office/flexi desk within the DMCC freezone/JLT. 5. Select the right license according to the activity Select from these three license options in DMCC according to your activity: Trading, Service and Industrial. Trading license permits the buying and selling, and import and export of goods from, to, and within the UAE. Service License is necessary for delivering services in sectors such as professional, legal, financial, media, technology, education, energy and healthcare. It is also ideal for representative offices of foreign companies, holding companies, family offices, and for retail activities such as restaurants & cafes. Industrial License is given for light manufacturing inside DMCC such as making jewellery with precious metals & stones and for Coffee & Tea related activities (blending, packaging, roasting, storage etc. 6. Making the final Payment Once we are ready with all the approvals from the authority, we need to make the final payment for the Company Incorporation in DMCC. 7. Signing of MOA & AOA Currently, DMCC has introduced E-signing facility to sign the documents through online. Passport verification also will be done on the same time. 8. Receiving Business License Once you finalize the business location, you can obtain the company incorporation documentation, including a trade license, certificate of incorporation, and Memorandum of Articles and Association, Share certificate, Confirmation letter to open bank account in Dubai. 9. Receiving Immigration Card Once the company is Incorporated, we will get the company’ Immigration card in a couple of days. 10. Corporate Bank Account Opening Setting up a corporate bank account is a pivotal step when you Incorporate a company in the UAE. 11. Obtain Investor/ work visas The next step is to obtain employment residence permit for applicants outside the country. It is necessary to get the right entry working permit for employees. How Corpin Helps in DMCC Company Incorporation? If you are planning to set up a new company or the branch of a company in DMCC, Corpin Consultants can make the entire journey easier for you. Our expert team will guide you through every step of company incorporation in

Business Consultancy

DMCC Licenced Companies Can Now Operate From Their JLT Office with Dual Licence Office Permit

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DMCC Licenced Companies Can Now Operate From Their JLT Office with Dual Licence Office Permit DMCC member companies with a DED branch/ subsidiary / a company with common shareholder can now operate from their JLT office after obtaining a dual licence office permit. This helps in saving the cost of leasing another office for the DED licence. Key Points to Consider When Applying For A Dual Licence Office Permit Companies occupying office space in DMCC planning to share the unit with another DED company must strictly obtain a dual licence office permit. After obtaining the licence, they should always abide by the relevant requirements of dual licence office permit. The validity of this licence permit is one year and can be cancelled anytime by the applied DMCC Company. It can be also terminated by the DMCCA. Only DMCC licenced companies can apply for dual licence office permit. Property type should be office according to the title deed of the Unit. Sharing of any other property types such as shops, flats, land are not permitted. Units within business centers such as co-working spaces, incubation centers, and accelerators are not entitled for dual licence office permit. Retail and industrial activities are not eligible for dual licence office permit. Every company must be allocated a specific area within the unit with a minimum area size of DMCC Company being 300 sq.ft. The standard Visa quota policy shall be applied wherein the quota for DMCC Company shall be calculated based on the actual area allocated to the company. For DED Company, the visa quota and process will be based on the DED rules and requirements. Certain licence activities may not be eligible for dual licence office permit and this shall be at the sole discretion of DMCC. A company cannot apply for a new dual licence office permit if there is an existing sanction on their account. Late renewal of dual licence office permit may attract penalties from DMCC. Dual licence office permit cannot be amended after it is issued. Once the application of dual licence office permit is issued, permit fee is non-refundable. When it comes to visas, DED companies follow the mainland regulations as per DED requirements. However, DMCC companies must apply for access approval for all non DMCC employees sponsored under the DED licence and wish to work from the same premises. DED companies should submit a report from Ministry of Human Resources and Emiratization compiling the names of all sponsored employees. This service will be provided to all DED companies only through the DED service center located in High Level Business Center (DED Café).

News

DMCC Introduces No Objection Service to Operate Onshore

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DMCC Introduces No Objection Service to Operate Onshore Here’s a good news for all business owners, DMCC, the UAE’s highly growing free zone region in partnership with the Department of Economic Development (DED) has introduced a new service that will help in growing your business. DMCC member companies with specific licence activities can now offer services outside their respective free zone without obtaining a trade licence from DED. This regulation will be effective from 14 April 2020. Member companies can easily apply online for a no-objection-certificate (NOC) from DMCC to obtain the DED permit and commercial permit for operating onshore. It does not require any document submission. The NOC will be issued within two working days and its validity will be 90 days from the date of issuance. Key points to consider Only DMCC licenced companies holding service licence type can apply for NOC to operate onshore after meeting the eligibility criteria. Companies cannot apply for NOC to operate onshore if: They have an active sanction on their account They have an existing open SR for activity amendment They have an open SR for licence termination They have an open SR for company termination Steps to apply for NOC to operate onshore Fill the application form in the DMCC portal to ‘apply for NOC to Operate Onshore’ Make the payment and submit the SR Download the generated NOC on the SR’s documents or ‘Uploads’ sections Next step is to approach DED with the NOC from DMCC and meeting the Department of Economic Development’s (DED) formalities for obtaining the permit to operate onshore. If you have any further questions regarding DMCC company formation, feel free to contact us at +971 55 843 2911 or ek@corpinconsultants.com. We can assist you in all aspects of business setup in DMCC.

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