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UAE DMCC Free Zone Companies Key Facts

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UAE DMCC Free Zone Companies Key Facts UAE Key Facts DMCC Free Zone Companies Free Zones in the UAE are specific areas where companies may be set up with designated licenses and 100% foreign ownership. The Dubai Multi Commodities Centre (DMCC) is one of the fastest growing UAE Free Zones. It was established in 2002 and is located in a lake-front development called Jumeirah Lakes Towers, opposite Dubai Marina and ten minutes from Jebel Ali Sea and Air Ports and the Logistic Corridor. DMCC registers and licenses companies with Eligible Entities various activities as set out in the DMCC activity – Limited liability company as a newly formed entity list. Each company is issued a license depending with single or multiple shareholders on its business activity. DMCC offers three – Limited liability company as a wholly owned categories of company licenses: Trading, Service subsidiary of local or foreign company and Industrial. – Branch of local or foreign company Trident Trust is able to provide services to assist with the incorporation of a DMCC company and Prohibited activities obtaining residency visas for its shareholders – Banking business and any financial/investment and employees. activities on behalf of third parties (unless it is licenced under applicable UAE law and authorised Advantages to carry on that business) – 100% foreign business ownership Visa Services – Full capital repatriation A DMCC company may apply for shareholder – Zero taxes and duties and/or employee residence visas after receiving its license. The residence permit is valid for three – No tax information exchange agreement with years. Amount of visas that may be availed by the any country company depends on the size of the office (one – No public disclosure of information visa per 9 sq. m.). Flexi Office package offers up to three residence visas. – Simple accounting requirements – Companies with offices that are not yet fitted – Variety of freehold, commercial and residential out are only allowed to apply for one visa until property for sale or lease at competitive rates completion of office fit-out – Legalisation of company documents is not required – Shareholder is required to hold a minimum of when used within the UAE AED 60,000 worth of shares to qualify for an – Flexible office solutions such as Flexi desks and Investor visa Service desks/offices – Holders of residence visa must not stay out of – Entitled to Tax Residency Certificate the UAE for more than 180 consecutive days WWW.TRIDENTTRUST.COM UAE Key Facts DMCC Free Zone Companies Significant Features Company Under the Rules and Regulations Manager One (manager must hold relevant Legislation of the DMCC educational diploma for certain Name Will be ended with suffix DMCC consulting activities) Time to Three to four weeks Secretary One is optional (only individual) Incorporate Residency No Possibility of No Requirements Migration Local No Tax Rate Nil Presence Shareholders Minimum 1 and maximum 50 Requirements (individual or corporate) Availability No Share Capital The minimum share capital is of Shelf AED 50,000 per company and Companies AED 10,000 per shareholder. Meetings Yes (can be held anywhere If a Managing Director visa is in the world) required, the capital needs to be a minimum of AED 60,000 Annual Ye s per shareholder. General Meetings Bearer Shares No Registered Ye s Annual Yes (accounts must be audited) Shares Accounts Redeemable The Company may not directly or Are Accounts Ye s Shares indirectly acquire its own shares Filed unless expressly permitted to do Audit Ye s so by the Authority Requirements Par share AED 1,000 value Share Ye s Transfer Duty Beneficial Beneficial Owners, Shareholders, Ownership Directors and Manager details are Registered Yes (flexi or physical office Disclosure provided to DMCC but no public Office is a must) disclose of information available Required Directors Minimum 1, Maximum 6 Exchange No (only individual) Controls WWW.TRIDENTTRUST.COM Global Presence Offices The Americas/Caribbean Bahamas Cayman Islands Panama New York Trident Corporate Services Trident Trust Company Trident Trust (Panama) S.A. Trident Corporate Services, Inc (Bahamas) Ltd (Cayman) Ltd T: +507 302 7494 T: +1 212 840 8280 T: +1 242 322 6154 T: +1 345 949 0880 [email protected] [email protected] [email protected] [email protected] United States Sioux Falls Barbados Nevis Atlanta Trident Trust Company Trident Corporate Services Morning Star Holdings Ltd Trident Corporate Services, Inc (South Dakota) Inc (Barbados) Ltd T: +1 869 469 1817 T: +1 404 233 5275 T: +1 605 679 4355 T: +1 246 621 0760 [email protected] [email protected] [email protected] [email protected] Meridian Trust Company Ltd Miami US Virgin Islands British Virgin Islands T: +1 869 469 1333 Trident Fund Services Trident Trust Company (VI) Ltd Trident Trust Company (BVI) Ltd [email protected] T: +1 305 405 9006 T: +1 340 774 7322 T: +1 284 494 2434 [email protected] [email protected] [email protected] Asia Hong Kong New Zealand Singapore Trident Corporate Services (Asia) Ltd Trident Trust Company (NZ) Ltd Trident Corporate Services & Trident Trust Company (HK) Ltd T: +64 9 300 6067 (Singapore) Pte Ltd & T: +852 2805 2000 [email protected] Trident Trust Company [email protected] (Singapore) Pte Ltd T: +65 6653 1800 [email protected] EMEA Cyprus Isle of Man Mauritius United Kingdom Trident Trust Company (Cyprus) Ltd Trident Trust Company (IOM) Ltd Trident Trust Company Trident Trust Company (UK) Ltd T: +357 258 20 650 T: +44 1624 646700 (Mauritius) Ltd T: +44 20 7935 1503 [email protected] [email protected] T: +230 210 9770 [email protected] [email protected] Trident Fiduciaries (Middle East) Ltd Jersey Trident Company T: +357 253 53 520 Trident Trust Company Ltd Seychelles Services (UK) Ltd [email protected] T: +44 1534 733401 Trident Trust Company T: +44 20 7487 0460 [email protected] (Seychelles) Ltd [email protected] Dubai T: +248 4 422 000 Trident Trust Company (UAE) Ltd Luxembourg [email protected] DMCC Branch Trident Trust Company T: +971 4 423 9988 (Luxembourg) S.A. Switzerland [email protected] T: +352 26 30 28 48 Trident Corporate Services AG [email protected] T: +41 44 396 1080 Guernsey [email protected] Trident Trust Company Malta (Guernsey) Ltd Trident Corporate Services T: +44 1481 727571 (Malta) Limited & [email protected] Trident Trust Company (Malta) Ltd T: +356 21 434 525 [email protected] © 2017, Trident Trust. All rights reserved. 11.17 WWW.TRIDENTTRUST.COM.
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