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Registering a company in Dubai Maritime City in 2020
Among the main advantages of starting a business in Dubai Maritime City are:
- Exemption from corporate and personal income taxes;
- Availability of financial incentives;
- 100% foreign ownership is allowed;
- 100% repatriation of capital and profit is allowed;
- 5 types of various licenses for work in the free zone;
- No customs duties.
Business registration – from €10,000
Company registration period – from 2 weeksDetailed information
Dubai Maritime City (DMC) is a member of Dubai World. This is the first FZ in the world, which is a maritime trade center. DMC began its activities to develop the urban life of the maritime community. Functions of the regulatory body are performed by the Dubai City Administration (DMCA), began its activities in 2007.
If you decide to start an entrepreneurship in Maritime City, pay attention to the information below:
- The DMC has 6 strategic zones;
- DMC was founded as a business center for local and international shipping companies;
- The city is also an industrial ship repair area;
- DMC is known for its training centers;
- It has a marina serving as a recreational center;
- The port infrastructure includes a residential area;
- Offshore companies can open offices in FZ of Dubai;
- 100% foreign business control;
- 100% repatriation of funds;
- no corporate tax;
- no import/export charges;
- low cost of electricity;
- low labor cost;
- simplified hiring procedures for foreign workers;
- developed Logistic System;
- FZC. The number of stockholders of such firm is 2-5 people.
- A subsidiary in this FZ. Areas of activity of such companies are controlled by the parent company.
- On a sea fishing: both for foreign and local enterprises for the construction and use of ships in accordance with international maritime standards.
- Maritime commerce: for individuals and legal entities engaged in maritime or recreational activities in Dubai.
- To service offshore operations. Distributed to seawater waste management enterprises.
- On marine education: only for legal entities.
- Commercial applies to promotional actions.
First you need to apply for registration and provide a complete package of documents. To establish a company in DMC FZ, go through the registration procedure, which includes:
- registration of a company trademark;
- receiving a response-approval from the authorities of the FZ;
- a staff should present copies of their documents and resumes;
- documents should be sent for consideration to the trusted agency;
- payment of all necessary fees;
- conclusion of a rental contract;
- you should notarize MOA and AOA in UAE Embassy at the place of origin;
- licensing and regulatory documents;
- a notarized certificate of registration;
- a license to carry out the activities;
- a physical address for your company;
- Photocopies of passports and resumes of managers and sharers;
- Supporting documentation to register TM in Dubai;
- A letter of approval of your entrepreneurial activity;
- Memorandum and Articles of Association of the main branch at the place of origin, certified by a UAE notary;
- A rental contract for the subsidiary;
To start a business in DMC FZ is the dream of entrepreneurs, whose life is closely connected with the marine industry. The existing offshore companies in DMC are attracting the attention of foreign investors as they will reap huge benefits from the influx of tourists in Dubai.
The entrepreneurship in DMC FZ is carried out in accordance with local laws on employment, on obtaining licenses in Dubai and resolving international disputes.
A business registration process in Maritime City is easy for those, who understand the legal subtleties. IQ Decision lawyers will help their clients to start a business in UAE, to open a bank account in Dubai, and to resolve commercial disputes in DMC FZ.
The information outlined in the article is actual at the time of its publication.
Please refer to our specialists for checking possible solutions for your business.
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