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Dubai Maritime City Free Zone

Dubai Maritime City Free Zone is a one-of-a-kind; global maritime hub located in the United Arab Emirates. The Dubai Marine City Authority (DMCA), DMC's main governing body, was established in 2007 to develop, promote, and oversee maritime activity. It is one of the world’s most advanced and successful business parks for maritime businesses of all sizes. The free zone offers unparalleled advantages to global companies looking to establish their presence in the Middle East. It provides an extensive range of services to its customers, including a dedicated maritime authority, strategic location and access to major international markets.

The Dubai Maritime City Free Zone facilitates the growth of local and international businesses by providing tax incentives, competitively priced land leases and hassle-free entry procedures. Companies based here enjoy full foreign ownership privileges as well as 100% repatriation of capital and profits. Furthermore, they benefit from a wide range of government support initiatives such as accelerated customs clearance processes and simplified import/export regulations.

The Advantages of Establishing a Business in a DMCA Free Zone

The following are the benefits of establishing a business in a DMCA free zone:

  • Provision for 100 percent foreign ownership
  • There are no restrictions on the repatriation of capital or profits.
  • Total exemption from corporate and personal income taxes
  • Import and export duties are waived.
  • The availability of qualified professionals, as well as simple recruitment procedures
  • Cost-effective and plentiful energy
  • Having access to a well-educated, multicultural workforce
  • Outstanding corporate infrastructure
  • Several financial incentives
  • In the free zone, businesses can operate around the clock.
  • Excellent logistics matrices and a business-friendly climate
  • Process of supportive administration
  • On-site customer inspection is possible.

 

Legal Entities in the DMCA

DMCA provides the following business legal entities:

1. Establishment of a Free Zone (FZE)

An FZE may establish a business with a single shareholder.

2. Free Zone Corporation (FZC)

A maximum of 5 shareholders are permitted under a FZC.

3. Subsidiary Office

Because a branch office is legally dependent on its parent company, it is permissible to establish a branch office in the name of its parent company.

 

Types of DMCA Business License

The Dubai Maritime City Authority offers the following types of business licences:

Commercial Permit

To engage in general maritime activities, a company or individual must obtain a commercial licence from the authority.

Commercial Maritime License

Commercial marine licences are available to companies engaged in maritime activities and individuals engaged in recreational activities in Dubai waters.

Marine Craft Crew Certification

This licence allows foreign and domestic companies to build and operate watercraft in accordance with international standards.

License for Maritime Operation Services

The holder of this licence is permitted to operate waste management in seawaters.

License for Maritime Education and Research

A maritime education and research licence is for companies involved in maritime education and research.

 

How to Establish a Business in a DMCA Free Zone?

To do business in Dubai Maritime City, a company or individual must follow the DMCA's procedures:

  • Obtain Initial Approval

Fill out the business application form to get preliminary approval from the government.

  • Formalize the Company

The following step is to register your company by submitting registration proof.

  • Turn in the Documents

Next, submit all of the documents required for your business activity, as well as the shareholders' personal data sheet.

  • Pay the Mandatory Fee

After you've turned in all of your paperwork, it's time to pay the required fee.

  • Obtain the License

Finally, you can apply for a business licence.

 

Registration documents required at Dubai Maritime City Free Zone (DMC):

  • Copies of shareholders' passports
  • Managers and directors' contact information
  • The Manager's Curriculum Vitae
  • The agreement for the office space lease
  • The articles of incorporation of the company
  • Legal authority

 

You Need The Best Approved Auditors in Dubai Maritime City

Reyson Badger is an approved auditing firm for Dubai Maritime City Free Zone, a major business hub in the United Arab Emirates. The firm specializes in providing top-tier auditing services to local and international companies based in the free zone. Reyson Badger's experienced teams of certified public accountants (CPAs) are committed to providing unbiased, accurate and trustworthy financial advice that meets the highest standards of professional ethics.

The company offers a wide range of audit services, including statutory audits, internal control reviewscompliance assessments and forensic investigations. Our staff also has expertise in assessing accounting systems and carrying out due diligence procedures related to mergers and acquisitions. Reyson Badger provides clients with timely reporting on their financial results as well as industry trends that affect their businesses.

We are available 24/7, so contact us today!!!


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