Company Formation in Dubai (DMCC) Multi Commodities Center

The Dubai Multi Commodities Centre (DMCC) has been created as a strategic goal of

the Dubai Government to establish a commodity market place in Dubai. The DMCC was

launched on April 24th 2002 by a decree from the Government of Dubai.

The DMCC offers a unique opportunity for participants in a wide range of metals

and commodities industries. It provides facilities that bring together the gold trade,

the diamond trade (housing a Diamond Exchange), and trading in other selected

commodities. The Centre aims to attract key players throughout the entire value chain of

each of these industry sectors, together with relevant support industries such as finance,

logistics and insurance.

The DMCC offers ownership of business premises in addition to all other standard

Free Zone services. DMCC’s facilities will include a commercial tower, refineries and

manufacturing complex, with close proximity to Jebel Ali Port. Plots of land have also

been allocated for the larger manufacturing units and refineries. DMCC’s activities are

organised into three main areas which are Gold and Precious Metals, Diamond and Colored Stones and Commodities.

DMCC plans to strengthen Dubai’s position as the leading regional centre for bullion

business by offering improved facilities to enterprises establishing themselves under

the Centre’s auspices. The infrastructure at DMCC will accommodate every facet of the

business - manufacturing, trade, education, certification and technology. Alliances with

other players in the trade such as finance organisations, government institutions, etc.

will promote complete growth of the industry.

To further boost the regional diamond trade, the official announcement was made on

the Dubai Diamond Exchange (DDE), which is the first WFDB (World Federation of

Diamond Bourses) affiliated bourse in the Arab World.

DMCC has also entered into a joint venture between MCX (Multi Commodity Exchange

of India and FTIL (Financial Technologies India Ltd) and has formed the Dubai Gold and

commodities exchange (DGCX). DGCX provides advanced electronic infrastructure and

an organized monitored environment.

DMCC also aims bringing the best of educational institutions to Dubai, to make the

latest in technology and processes available to the local and regional market.

DMCC has been instrumental in implementing the Kimberely Process in the United

Arab Emirates as part of its endeavor to streamline the trade with global standards and

protecting the legitimate diamond industry.

Features

• Trading in various commodities including gold and precious metals, diamonds and

  colored stones and various services that compliment the main core business.

• Free hold ownership of business premises

• Diamond exchange

• 50 years tax holiday.

Form of registration

• As a branch of a foreign company - no minimum capital required.

• As a Free Zone Company (DMCCO) - minimum share capital is AED 200,000.

Facility costs and type of license

Facility	Size	Cost in AED per annum
Office in commercial tower	Flexible	1,200 - 1,800 per sq.ft
Offices in Business Avenue	22 sq.m - 110 sq.m.	180 per sq.ft (approx)

               

Type of License	Cost in AED per annum
Manufacturing	8,000 to 25,000 (depends on the units or area leased)
Trading	15,010
Service	15,010

Posted by Winston Karumba, Senior Business Consultant at Adam Consulting


Winston Wambua

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