Dubai puts a huge leap forward in advocating the cryptocurrency and blockchain technology. Dubai’s flagship free zone Dubai Multi Commodities Centre (DMCC) has launched its crypto center for ushering the growth of businesses operating in cryptographic and blockchain technology.
Located at the heart of Dubai city, Dubai World Trade Centre Free Zone is one of the most preferred destinations for SMEs, startups, and large corporations alike. The free zone was established in the year 2015 with an aim to attract foreign investors to the Dubai Trade Centre and enhance its economic capabilities.
DWTC free zone is open to diverse businesses and it offers various incentives to branches as well as new companies. One can conduct most of the activities licensed by the Dubai Economy at the DWTC free zone.
The advantages of setting up your company in DWTC are many;
- Strategic location
- Dual licensing option
- Complete foreign ownership
- 100% repatriation of capital and profits
- Nil restriction on employee foreign nationals
- No restraints over capital nationality
- Zero income and corporate tax for 50 years
- Flexible licensing options
- Attractive packages for SMEs and startups
Setting up your company at DWTC
The process of setting up your business at DWTC is quite simple. The steps include;
Types of Companies that can be set up in DWTC
- Free Zone Company: a company with limited liability and a sole shareholder
- Free Zone Establishment: a company with limited liability that has a minimum of 2 shareholders. The maximum number of shareholders should not exceed 10.
- Foreign Branch
- UAE Branch
A non-individual shareholder requires additional paperwork to establish an FZCO/ FZE in DWTC. Companies that require only a commercial office for operation can be established in the free zone, irrespective of the type of the company.
The foreign branch must be under the complete ownership of the parent company and in the case of a UAE branch, a valid registration from a UAE license authority is required.
Types of License
- Commercial License
For carrying out specified commercial activities
- General Trading License
For carrying out commercial activities without any restriction
- Professional License
For carrying out specified professional services
- Event Management License
For the organizing of business and leisure activities
If you are on the lookout for an agency that can help you set up your company in a free zone without any hassles, contact Jumeira Consultants. Our experts will take you through the entire process and you can leave the burden of arranging documents, submitting applications, and getting the license to us.