DMCC and its new Business-Friendly Regulations
Dubai Multi Commodities Centre, one of the largest and fastest growing free zones in the UAE, has announced certain new rules and regulations that aim to enhance the ease of setting up and doing business in the free zone. This will be effective from 2nd January 2020.
Major enhancements to the agenda include;
- Greater flexibility around a company’s Articles of Association
- Introduction of various share types
- Permitting companies to customize the structure of shareholdings
- Introduction of a new dormant status
- Increased ability to transfer company incorporation into the free zone
“Ease of doing business is at the heart of DMCC’s offering; we enable all businesses to trade efficiently and with confidence. The new rules and regulations are indicative of our commitment to providing companies with a seamless ability to set up and grow their operations. We are confident that these enhancements will attract even more companies to do business in DMCC,” said Ahmad Hamza, Executive Director Free Zone, DMCC. “With robust infrastructure, state-of-the-art facilities and world-class services, DMCC will continue to attract, facilitate and drive trade flows through the emirate, and strengthen Dubai’s position as one of the world’s leading business capitals,” he added.
DMCC connects more than 14,100 businesses and is home to major multinationals and start-ups. The free zone offers wide-ranging world-class financial services, trading resources and investment platforms and provides easy access to the world’s key commodities markets.
DMCC has been honoured with the Global Free Zone of the Year award for five consecutive years by the Financial Times’ FDI magazine.