Dubai Maritime City Free Zone (DMC) is a member of the Dubai World Group, which is one of Dubai’s newest free zone sand encompasses six districts. Foreign investors wanting to open a company in Dubai are advised to take into consideration DMC as it offers numerous advantages and several types of companies to choose from.
Foreign investors who want to open companies in Dubai Maritime City Free Zone can rely on our company formation agents in Dubai who can guide them or handle the incorporation procedure on their behalf.
DMC incorporates six districts:
Find out from the video below how to open a company in Dubai Maritime City Free Zone:
Company registration in Dubai Maritime City is possible for foreign investors and they can choose to open:
The characteristics for setting up a company in Dubai Maritime City Free Zone are the following:
In order to set up a company in Dubai Maritime City Free Zone, the company’s articles of association must be submitted together with a statement issued by the management board with the resolution for the incorporation of the company, passport copies and powers of attorney for the company’s directors, manager and secretary, a specimen signature and bank letter stating the share capital has been deposited.
In order to incorporate a branch office, the articles of association of the parent company must be submitted along with a passport copy, specimen signature and a power of attorney for the company’s manager. A statement issued by the company’s management board with the resolution for establishing the branch office will also be required.
The creation of a company in Maritime City Free Zone is the same as in any other economic zone of Dubai, however, it is important to note that the activities that can be completed here are different. Also, the establishment of a business here depends on the selected structure.
Most of the activities that can be completed in this free zone are related to the maritime industry. The documents required to obtain the necessary licenses and permits to operate in DMC are issued by the Dubai Maritime City Free Zone Authority (DMCA).
In order to obtain a maritime activity license which is the main business permit that can be obtained in DMC, the following requirements need to be respected:
Another license that can be obtained by those who operate companies in Dubai Maritime City Free Zone is the marine crafts inspection license that can set up various facilities in which they can conduct activities like inspections of cargo vessels. These companies can complete activities such as technical inspections, draft reports and manuals for companies operating vessels in accordance with the DMCA’s requirements.
Foreign investors who want to operate in Dubai Maritime City Free Zone can also set up various types of water entertainment businesses. They can operate jet ski renting companies and businesses for the rental of equipment. These need to comply with the following requirements:
It is also possible for companies registered in DMC to organize various events related to water sports.
If you want to set up a business in DMC Free Zone, our Dubai company formation consultants can help you apply for the necessary licenses and permits in accordance with the activities you want to complete.
There are several types of licenses for company incorporation in Dubai Maritime City Free Zone:
The most recent types of licenses introduced by the Dubai Maritime City Authority (DMCA) are marine crafts, maritime operation services and commercial licenses.
The marine crafts license allows foreign and local companies to build and use vessels in accordance with international maritime standards.
The maritime operation services license was enabled for companies operating in the waste management industry. These companies can supply integrated waste management, air emissions, and ballast water solutions.
The commercial license is granted to both companies and individuals involved in general maritime activities which do not require special permits.
One of the main reasons for which foreign investors choose to open companies in Dubai Maritime City Free Zone is the taxation system which is mainly made up of exemptions for up to 50 years. However, it is useful to note that in the case of foreign shareholders and employees in DMC companies, taxation could be imposed in their home countries. When it comes to the repatriation of profits generated by the companies held by foreign investors, these are tax-free.
In order to find out if any tax is due in the case of foreign investors, one must verify if any double tax treaty is in place between the UAE and their home countries. Another aspect to consider is that in the case of branch offices operating in the banking sector, taxation will occur irrespective if the company is registered in a free zone or Dubai mainland.
Our company registration agents in Dubai can offer more information on the taxation of companies in Dubai Maritime City Free Zone.
The UAE is known for relying on expats when it comes to the workforce and this is also available for those opening free zone companies in Dubai. However, in free zones such as Dubai Maritime City, the employment permit issuance for foreign workers is completed through a fast-track procedure.
Those who want to set up companies in Dubai Maritime City Free Zone and hire foreign employees can obtain more information about the procedure from our local advisors.
Dubai Maritime City is the only specialized maritime hub in the UAE which is why it attracts specialists in this field from all over the world. In numbers, Dubai Maritime City Free Zone:
The Dubai Maritime City Authority provides employment visa services and companies can also benefit from:
If you want to open a company, you can contact our company formation agents in Dubai and ask all the relevant details about foreign investments.