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DUBAI MULTI COMMODITY CENTRE (DMCC) / JUMEIRAH LAKE TOWERS (JLT)

Dubai Multi Commodities Centre is the Free Zone dedicated to develop commodities sectors including gold, diamonds, pearls, precious metals, tea and cotton.

Main Benefits

  • 100% ownership.
  • No tax on corporate gains or personal incomes
  • 100% repatriation of capital and profits
  • Exemption from import and export duties

DUBAI MULTI COMMODITY CENTRE (DMCC) / JUMEIRAH LAKE TOWERS (JLT)

Dubai's location at the geographical crossroads between the Commonwealth of Independent States, India, Pakistan, and Africa, has enabled it to emerge as one of the leading hubs for international commodity markets.

Dubai's convenient shipping routes, sound currency, tax free environment, welcoming approach to foreign investment, modern banking infrastructure, as well as excellent seaport facilities and proactive approach to maintaining competitiveness and connectivity, are just some of the attributes that continue to assist the Emirate's thriving commodities sector to prosper.

DMCC.

Established in 2002 by Royal Decree, the Dubai Multi Commodities Centre Authority (DMCC) is a strategic initiative of the Government of Dubai, with a mandate to enhance commodity trade flows through the Emirate by providing the appropriate physical, market, financial infrastructure and services required. DMCC regulates, promotes and facilitates trade across a range of commodities sectors, including gold, diamonds, pearls, precious metals, tea and cotton.

DMCC has registered over 3,000 companies, with 90% of new registrations coming from businesses that are new to Dubai, including multi-nationals, major regional industry participants as well as small/medium sized businesses and entrepreneurs.

JLT:

The fastest growing free zone development in the UAE, Jumeirah Lakes Towers (JLT) Free Zone is a 200-hectare, mixed-use waterfront master development facilitating both business and community living by offering commercial, residential and retail property for sale and lease.

Situated in the heart of New Dubai and serviced by two metro stations within the community, the JLT Free Zone is located on Sheikh Zayed Road, the main arterial connecting Dubai and Abu Dubai, and in close proximity to Jebel Ali Free Zone and ports, Al Maktoum International Airport, and Dubai Logistics Corridor.

Being just 45 minutes from Abu Dhabi, JLT is also ideal for those who have to make the commute. With two metro stations servicing the community (Jumeirah Lakes Towers Station and Dubai Marina Station) it's never been easier to travel to the City Centre or Airport without worrying about traffic or parking.

For those looking for easy access to Dubai hotspots, the beach and marina are also only a five-minute drive away from JLT, although many of our residents prefer to walk during the cooler months, crossing over Sheikh Zayed Road via the metro bridges. Ibn Battuta Mall is also a five-minute drive away, Marina Mall is at a similar distance and Mall of the Emirates is only 10 minutes away; all accessible by metro.

JDubai, City of Gold – DMCC's role

Throughout history, Dubai, often referred to as the 'City of Gold', has played a significant role in the growth and development of the global gold market, and DMCC in particular has been instrumental in establishing Dubai's status as a premier gold and precious metals hub.

With its close proximity to gold's main markets – India, China and Turkey – the Emirate is conveniently situated on the world map to channel gold from the international market to its ultimate destination. With more than 130 countries serving as gold import partners, Dubai connects trade flows to and from the Indian subcontinent, South East Asia, Europe and Africa.

Dedicated to the growth and promotion of Dubai as a global gold trading centre, the Dubai Multi Commodities Centre Authority (DMCC) has created custom built infrastructure and services to support the international precious metal trade, by integrating the refining, manufacturing and trading of gold and precious metals in accordance to the highest global standards.

DMCC offers a purpose-built precious metals vault, jewellery manufacturing facilities, refineries and assayers, as well as land in its master development, the Jumeirah Lakes Towers Free Zone, or start-up refineries.

Dubai as Diamond Hub

Located in the heart of a rapidly growing consumer market, Dubai has developed into an integral hub for the import and export of rough and polished diamonds. During the last decade, the Emirate has successfully joined the ranks of leading international diamond centres such as Antwerp, New York and Mumbai, and has been recognised as one of the world's top four diamond trading centres.

While an overwhelming majority of diamonds today are cut and polished in India, more than a third of all diamonds worldwide are sold in Asia and the Middle East, a market share that continues to grow. The Dubai Multi Commodities Centre Authority (DMCC) established to facilitate the flow of commodity trade through Dubai, is uniquely positioned to serve as an interface between the traders and manufacturers of diamonds, as well as the buyers and retailers of the finished goods.

Business Licensing Segments in DMCC / JLT

DMCC / JLT issues the following types of licenses based on the business activity a company looking to set up in DSOA plans to conduct.
Trading in Jewellery, Investment Bars, Precious Metals, Gemstones and Commodities.

  • General Trading
  • Services
  • Manufacturing

DMCC / JLT business licenses can be classified in the following way too

  • DMCC License (activities in commodities and related trade/services)
  • JLT License (other business activities which are not related to commodities)

Advantages of setting up business in DMCC / JLT

  • Unique purpose built infrastructure
  • Strategic location on Sheikh Zayed Road, the main arterial connecting Abu Dhabi and Dubai, close proximity to the Dubai Logistics Corridor, which comprises the Jebel Ali Free Zone and ports and Al Maktoum International Airport
  • Secure regulated environment with a full range of business activities.
  • 100% business ownership and sole shareholders are permissible
  • Quality commercial and residential properties with freehold or leasehold option
  • Guaranteed 50-year tax holiday on personal and corporate tax
  • 100% capital repatriation
  • Seamless and efficient licensing and registration procedure.

Set Up Process in DMCC / JLT

Setting up a business in Dubai Multi Commodities Centre / Jumeirah Lakes Towers Free Zone requires planning and decision making through different phases. This involves preparation of comprehensive business plan, choosing suitable infrastructure, estimating required human work force etc. The business registration or licensing process can be completed only after depositing the minimum capital mandated by Dubai Media City in a bank account in UAE. A company being formed may have either an individual shareholder or corporate shareholder or both. The incorporation process requires the shareholders to sign the documents in the presence of DMCC / JLT representatives.

Types of Legal Entities in DMCC / JLT

Individuals or a corporate entities can set up and do business in DMCC / JLT Free Zone being registered in any of the following legal forms

  • New Company
  • Branch
  • Subsidiary
  • Representative Office

Business Infrastructure in DMCC / JLT

JLT / DMCC Facilities

  • Shared Desk
  • Virtual Office
  • Serviced office
  • Business Centers
  • Land plots
  • Residential towers


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