Business Setup in Dubai Maritime City Free Zone (DMC)

Dubai Maritime City Free Zone (DMC)

Dubai Maritime City Free Zone (DMC) is a leading maritime hub in the Middle East and an integral part of the maritime industry of Dubai. Located in the heart of Dubai, DMC is strategically positioned to serve as a gateway to the Middle East, Asia, and Europe. Established in 2007, the free zone offers a range of services and facilities to support the maritime industry, including ship repair, shipbuilding, offshore engineering, and marine support services.

DMC is a modern and innovative free zone that has been designed to meet the needs of the maritime industry. It offers state-of-the-art infrastructure, including a dry dock capable of handling the largest vessels, as well as advanced facilities for shipbuilding and repair. In addition to this, DMC provides a range of business support services, such as legal, financial, and administrative services, to help companies set up and operate their businesses in the free zone.

One of the key advantages of DMC free zone is its location in Dubai, which is a major center of trade and commerce in the region. Dubai’s strategic location on the trade routes between Asia, Europe, and Africa has made it a major hub for the maritime industry. Dubai’s modern seaports and airports provide easy access to global markets, making it an ideal location for companies looking to expand their operations.

The DMC free zone offers a range of incentives and benefits to companies, including 100% foreign ownership, 100% repatriation of profits and capital, and no taxes on corporate income or personal income. In addition, DMC provides a range of business support services, including legal, financial, and administrative services, to help companies set up and operate their businesses in the free zone.

DMC is home to a range of companies operating in the maritime industry, including ship repair companies, shipbuilders, offshore engineering firms, and marine support services providers. Some of the key players in the free zone include Dubai Drydocks World, Dubai Maritime City, and Dubai Maritime Cluster Office. These companies are involved in a range of activities, including shipbuilding, ship repair, offshore engineering, and marine support services.

Dubai Maritime City Free Zone is a leading maritime hub in the Middle East that offers a range of services and facilities to support the maritime industry. Its strategic location, favorable business environment, and state-of-the-art infrastructure make it an ideal location for companies looking to expand their operations in the region.

Step By Step Process For Business Setup in Dubai Maritime City (DMC) Free Zone:

Step 1: Choose a business activity and company name

The first step to business setup in Dubai Maritime City Freezone is to choose a business activity and a company name. The business activity should align with the company’s goals and objectives, and the company name should be unique and not already taken. The business activity and company name must be approved by the Dubai Maritime City Freezone Authority (DMC) before proceeding with the registration process.

Step 2: Choose a legal structure

After choosing a business activity and company name, the next step is to choose a legal structure for the business. The options available in Dubai Maritime City Freezone include Free Zone Limited Liability Company (FZ-LLC), a Branch of a Foreign Company, or a Branch of a UAE Company.

Step 3: Apply for a business license

The next step is to apply for a DMC business license. The type of license required depends on the business activity chosen. The types of licenses available in Dubai Maritime City Freezone include Trading License, Service License, Industrial License, and General Trading License. The application for the business license must be submitted to the DMC.

Step 4: Register the company with DMCC

After obtaining the business license, the next step is to register the company with the Dubai Maritime City Freezone Authority (DMC). This involves submitting all necessary documents such as the Memorandum of Association (MOA) and Articles of Association (AOA) to the DMC for approval.

Step 5: Obtain necessary approvals

In order to operate a business in Dubai Maritime City Freezone, various approvals and permits may be required. These include approvals from Dubai Customs, Dubai Municipality, and the Department of Economic Development (DED). The DMC will provide guidance on the necessary approvals required for the specific business activity.

Step 6: Obtain visa and residency permits

Once the company is registered with the DMC, the next step is to obtain visa and residency permits for the company’s employees. The DMC will provide guidance on the necessary documents required to obtain visas and residency permits.

Step 7: Open a corporate bank account

After obtaining the necessary permits and approvals, the next step is to open a corporate bank account. The DMC provides guidance on the necessary documents required to open a corporate bank account in Dubai.

Step 8: Lease office space

To operate a business in Dubai Maritime City Freezone, office space must be leased. The DMC provides guidance on the types of office spaces available and the necessary documents required to lease the office space.

Step 9: Register for VAT

If the business activity requires Value Added Tax (VAT) registration, the next step is to register for VAT with the Federal Tax Authority (FTA). The DMC provides guidance on the necessary documents required for VAT registration.

Step 10: Commence business operations

After completing all the above steps, the final step is to commence business operations in Dubai Maritime City Freezone.

It is important to note that the DMC provides guidance throughout the entire process of setting up a business in the Dubai Maritime City Free zone. The DMC also offers various services to businesses, such as legal advice, accounting services, and assistance with visa and residency permits.

Dubai Maritime City Free Zone Business License Cost:

Setting up a business in Dubai Maritime City Free Zone involves various costs. The cost may vary depending on the type of business activity, the size of the company, and the facilities required. In this section, we will provide a detailed breakdown of the costs involved in setting up a business in the Dubai Maritime City Free Zone.

Company registration fees:

To register a company in Dubai Maritime City Free Zone, there is an initial one-time registration fee of AED 10,000. This fee covers the cost of processing and issuing the necessary licenses and permits required to operate in the free zone.

License fees:

Dubai Maritime City Free Zone offers different types of licenses, and the fees may vary depending on the type of license required. The cost of a commercial license is AED 15,000 per year, and the cost of a service license is AED 10,000 per year. The cost of a general trading license is AED 25,000 per year.

Visa fees:

If you want to hire employees in your company, you will need to apply for visas for them. The cost of a visa depends on the type of visa required, and it ranges from AED 2,000 to AED 4,000 per visa.

Office space:

Dubai Maritime City Free Zone provides various office spaces for businesses to operate. The cost of office space may vary depending on the size of the office and the location. The average cost of office space in Dubai Maritime City Free Zone is AED 100 per square foot.

Warehouse fees:

If your business requires warehousing facilities, Dubai Maritime City Free Zone provides various types of warehouses. The cost of a warehouse may vary depending on the size and location. The average cost of a warehouse in the Dubai Maritime City Free Zone is AED 35 per square foot.

Custom duties:

If your business imports or exports goods, you will be required to pay customs duties. The cost of customs duties depends on the type of goods being imported or exported and the value of the goods.

Maintenance fees:

Dubai Maritime City Free Zone charges a yearly maintenance fee for the upkeep and maintenance of the facilities and infrastructure. The maintenance fee is calculated based on the size of the office or warehouse and the facilities required.

Legal fees:

To ensure compliance with local laws and regulations, businesses operating in Dubai Maritime City Free Zone will require legal services. The cost of legal services may vary depending on the type of services required.

Miscellaneous fees:

There are various other fees involved in setting up a business in Dubai Maritime City Free Zone. These include telephone and internet fees, water and electricity fees, and insurance fees.

The cost of setting up a business in the Dubai Maritime City Free Zone may vary depending on the type of business activity, the size of the company, and the facilities required. The above-mentioned costs are just an estimate, and businesses should consult with the Dubai Maritime City Free Zone authority for a detailed breakdown of the costs involved. It is important to note that a business setup cost in Dubai Maritime City Free Zone may seem high, but the benefits of operating in a free zone can outweigh the cost, such as 100% foreign ownership, tax exemptions, and easy access to international markets.