To attract commodity traders from all over the world, Dubai Government has established Dubai Multi Commodity Centre (DMCC) and thus created the world’s No.1 freezone dedicated exclusively to commodity trading. This freezone was established with its headquarters in Al Mas Towers in one of the newest districts of Dubai called Jumeirah Lake Towers. DMCC freezone has been established to provide the entire upstream and downstream commodities-related processes. It has options for light industries, as well as warehousing and retailing. The entire structure of DMCC freezone has been so successful that more than 21000 companies are registered.
The vision of DMCC freezone
Its vision is to “connect businesses with the world-class services, leading infrastructure, and vibrant community they need to thrive and succeed.” This vision led to creation of a bespoke infrastructure that includes one of the tallest skyscrapers (65 floors, more than 1000ft high) as its headquarters and a sizeable mix-use community to facilitate people to live and work within the closest proximity.
Its mission is (sic), “As a Government of Dubai Authority, we are dedicated to establishing Dubai as the global gateway to the Middle East for trade in a wide range of commodities while enabling our members to succeed through the delivery of continuous innovation in business services and infrastructure.”.
Its three core objectives are a) to become the gateway of trade, contribute to the development of Dubai, and become the no. 1 freezone in the world. Thus far, it has succeeded in all its core objectives. It is also developing one of the most interconnected and integrated infrastructures to facilitate next-generation businesses.
Companies in DMCC
DMCC Freezone has many focused trading centers like Diamond Trading Exchange, Dubai Gold and Commodity center, Dubai Tea Centre, and Dubai Coffee Centre. These centers create opportunities for participating companies through infrastructure-connected trading platforms, and The DMCC is a multi-commodity center, and commodities could be Food grains, Metals, and precious materials. Its roll call includes Rio Tinto, Pepsi, Electrolux, BVLGARI, and many more. It has a tea commodity center whose annual trading value was more than $35 Billion in 2017, an increase of 37% over 2016. Due to the establishment of different trading centers, there has been a constant flow of new companies. Currently, it has trade centers for a) Gold, b) Diamond and precious metals, c) Tea, d) Coffee, e) Agro, f) Base metals (iron, aluminum, etc.), g) Crypto, and h) Cacao.
Nicknamed the city of Gold that aptly sums up Dubai, DMCC Freezone has the scalability to address the entire value chain of Gold that includes Research, Refining, trading, hedging, and conversion into various grades of jewelry in many factories located inside the DMCC freezone.
There are many firsts scored by DMCC freezone, including establishing the Dubai Good Delivery Standard, the only international standard established by a government agency for 1 kg gold bars of .998 purity. It has established Dubai Gold and Commodity Exchange. DMCC trade flow was established for trade finance, which is also Sharia compliant, again a unique innovation. Through these innovations, the companies in the DMCC freezone have benefitted immensely.
It also has safe vaults for the member companies to store Gold and precious gems in complete safety and security.
DMCC has established DMCC rules for RBS-GPM, which stands for Risk-Based Due Diligence in Gold and Precious Metals Supply Chain, to ensure that the member companies source Gold from reliable and authentic sources. The DMSS’s research team continuously monitors the source markets for this purpose.
Dubai was always known for Gold, but in the last 15 years, it has become the third-largest diamond trading country. This is again due to constant striving by DMCC to create an ideal, secured, and dynamic trading platform for diamond exchange, diamond storage, and commitment to the Kimberly Process (KP) as the first signatory from the Arab World.
The trade of diamonds through DDE has increased manifolds through strong support to diamond source countries of Africa, cutting centers across Europe, and consumers worldwide. This exchange network enables quick and reliable trading options for its member countries.
DMCC has established a robust food security ecosystem that includes suppliers, re-exporters, and consumers for different and diverse agro-products like tea, coffee, soya, sugar, etc., through a reliable trade platform built on comprehensive knowledge about food, food security, and food safety. The member companies operating in the Agro business get the complete advantage of this ecosystem.
If you are a tea trader, then DMCC freezone is the best place for you. It established the tea center in partnership with Jabel Ali Freezone. With a DMCC freezone license, you can have a massive warehouse for tea storage, access to the tea trading community, tea bag manufacturers within UAE, and the world’s best tea trading platform. It is your stop solution. It is connected with all major source markets, and the online platform updates you with price movements, production heads-up, and international demand-supply data. You may become a re-exporter and take home all the profit as there is no taxation. DMCC freezone shall also provide a conferencing venue, testing labs, and regular expertise guidance. Dubai has also become the world’s biggest tea re-exporter in the world.
DMCC freezone has created a trading center dedicated to coffee and leveraged its coffee-drinking legacy to create a full-stream coffee supply chain solution. DMCC freezone has invested in Middle East’s only temperature-controlled Green Bean storage center. It has also created coffee roasting, packaging, small batch coffee roasting, Q grading, and entire logistics solution to facilitate the coffee trade and position itself on the map of the coffee world. As a coffee trader, you do not need to invest money in roasting, grading, and storage. You also have DMCC’s coffee trading platform that brings you close to coffee growers and coffee consumers.
What is DMCC
DMCC is a freezone established in 2002 and focused on multi-commodity traAsai, as a trading Dubai hub, was established a long time back and was a part of the silk route once upon a time. It has vast experience and knowledge in the trading of commodities. With this experience, its strategic location, and its world-famous supply chain know-how, the DMCC freezone was established. Since its establishment, thousands of companies worldwide have established their Head Quarters, Middle east Head Quarters, and branches in the freezone of DMCC. DMCC freezone also straddles premium real estate as the master developer of JLT. JLT is where you will find tall towers, an artificial lake with a beautiful promenade, a pet-friendly and live community, and home to more than 20,000 families. Thus DMCC freezone is a place where you could become 100% owner of your business but also 100% owner of your home.
The DMCC freezone is also an ideal example of a complete marketplace run on a digital platform to bring you close to your suppliers, agents, auditors, and financers. It is a signatory to the internationally respected Kimberly Process of assurance. It has labs and auditors to ensure you don’t need to step out for any aspect of your commodity trading.
How to reach DMCC by Metro
DMCC Freezone is on the Redline of the Dubai Metro. This means that if you are coming from Dubai Airport, you are on the Greenline of Dubai Metro. You will change the line in Bur Auman Metro junction to the redline that goes to Jebel Ali. While on Redline, you will pass through the iconic Sheikh Zayed Road, Dubai Mall, Mall of Emirates, and DMCC. When you get down to DMCC metro station, you will see glitzy towers on either side of Sheikh Zayed Road. DMCC freezone is headquartered in Al Mas tower, which is a ha3-minute minute walk from Dubai Metro.
What is DMCC Freezone License
In Dubai, when you want to become an entrepreneur, you need a license for which you need a place and a trade license. As they say in marketing, a successful P as ice” is very important. It would be best if you chose a place for your business that gives you a trade license with the activities that you want within a budget that you can afford and within the timeframe that you have. However, apart from these criteria, you also need a place with as many facilities as possible. DMCC freezone has all these features plus many more. You can choose your office size and warehouse size and flexible visa approval. The DMCC trade license may include trading, website/SEO/eCommerce, manufacturing, and event management. You can choose from more than 2000 activities for your trade License approval. Once you have received the approval document, you can open the business!
How do you get your trade license in DMCC freezone
Getting a DMCC freezone license is very easy. You can go to its website. You may apply for initial approval, and once it is approved, you could use the “Calculator” to get the total costing for your business establishment. The whole process can be completed within one week. Once your trade license is issued, you may start applying for visas. If you opt for a flexible workplace, you may start operating your business within two days. It is common among all freezones of Dubai to get a quick response and an online bot to clarify your doubts.
Numerous consultants may also help you with trade license and visa processes, but please note that they are optional if your requirements are simple. If you are looking for something that includes an office, warehouse, or industrial plot for setting up a manufacturing unit, you might require an external consultant’s help.
Business Set Up Packages
Like other Dubai Freezones, DMCC freezone offers a flexible business setup package. A Business setup package refers to the initial cost of Business Name registration, Activities listing, and Trade license. However, apart from these essential services, many other services can be added occasionally as per its business promotions plan. We suggest you visit their website for the latest package offer that works best for you. In general, we detail four packages herein;
Jump Start Package
This package is exclusively for SMEs (Small and medium Enterprises). Under this package, DMCC offers up to a 24% discount on an initial business setup that includes, Name registration, Trade license, Flexi Desk (through which you can use the shared pool desk 3 to 4 times in a week, including a work desk, internet, and hospitality like tea/ coffee), Visa for the investor, and trade listing. This package also entitles the investor to connect and use a vast database of companies enlisted with DMCC. You can start your business within 24 hours of completing all documentation and payment activities through the Jump Start package. This package is available for 1,2 and 3 years of trade license.
Prime Plus package
This package is perfect if you have a more significant business. This package includes the following;
ü Fast-track business set-up
ü three years of trade license (non-regulated)
ü Auto trigger for license renewal
ü Flexible payment plan
ü Extended payment period from 90 days to 120 days
ü One company stamp
ü One commemorative certification
ü 20% discount for adding more activities to the current license or taking another license.
ü Adding new activities and new shareholders to the license free of cost (within three months of license issuance)
ü Auto trigger for property inspection and certification
ü Connect with its Business Matching Hub to secure your business
ü Dedicated team to help in all documentation activities
ü Establishment card – Required for all investors for PRO-related transactions
BASIC BIZ PACKAGE
ü This package includes the following;
ü Business name registration
ü Trade license for three years
ü Establishment card
ü Flexi desk options
ü Access to events and conferences conducted by DMCC authority
ü Commemorative certificate
JLT RESIDENT PACKAGE
To be eligible for this, at least one of the shareholders in the business MUST have a resident (rental/ own) in JLT with valid Ejari (Proof of residence) to be submitted. Under this package, the following are;
ü Company name registration
ü Company trade license
ü Unlimited access to the Business Matching hub for securing your business
ü Flexi desk option
ü Commemorative certificate
What is DMCC?
DMCC stands for Dubai Multi-Commodity Centre. It is a freezone established by the government of Dubai to ensure that Dubai becomes a trading hub for commodities like Gold, Precious Metals, Diamonds and Gems, Food and Agro, Tea/coffee, etc. The freezone or Free Trade Zone of DMCC attracts global commodity traders and aspirants traders to establish their businesses in this Freezone with 100% ownership and 100% repatriation of profits, among many other benefits.
How to reach DMCC by Dubai Metro?
You can reach Al Maas Tower, the headquarters of DMCC freezone, by taking Redline Dubai Metro and alighting at Al Maas metro station, JLT. The Al Maas Tower is a 2-minute walking distance from the metro station.
What is DMCC License?
DMCC license is a Freezone License to operate the business according to the licensed activities mentioned in the Trade License certificate. It is a “Permit to Operate” from DMCC freezone authority with which you can open a bank account, recruit people, transact with other departments of the Dubai Government, and get self, family, and employees visas, as per the applicable norms.
Dubai Multi Commodity Centre was founded in 2003, and since then, it has made rapid strides in making Dubai an essential player in the world of commodity trading. The Dubai Multi Commodity Centre authority makes every effort to ensure that businesses within its freezone get maximum support before and after the setup. DMCC – Dubai Multi Commodity Centre has helped in the growth of Dubai as it has more than 20 000 companies registered and more than 60,000 residents living in JLT (the community developed by Dubai Multi Commodity Centre Authority). Its contribution to society, government, and the trading community is commendable.
DMCC today is the world’s most interconnected freezone and home to thousands of trading companies that find a perfect work-life balance. If you consider commodity trading a business call, then DMCC is the perfect destination for work, life, and life.