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Starting a business in Dubai Multi Commodity Center or DMCC is an applaudable approach. Given the fact, the free zone has been consistently under the limelight for excellence in trade, a decision for free zone company formation in Dubai DMMC must go hand-in-hand with thorough preparations. Just recently, the free zone broke its record of registering more than 200 new companies in one single month (October 2019), in nearly two years, DMCC official portal reports. Keep reading to discover some of the essential information you need for business setup in Dubai free zone- DMCC. What is DMCC?As you can make out from the name, this free zone deals with multi-commodity trade is arguably one of the finest in free zones for business in the whole world. According to the official website, DMCC has been crowned the ‘Global free zone of the Year’ for five years by fDi Magazine from Financial Times. The business center sports world-class infrastructure, great community, and a stunning array of properties for you to choose from. What are the different corporate structures of DMCC?Here are the organizational structure you can set up in DMCC, and their conditions for existence- 1. Subsidiary or Local/Foreign branch- here in this type of business setup, there is no capital prerequisite. 2. FZE or free zone Establishment- in this type of legal entity, you’d need a minimum of one shareholder. 3. FZC or free zone Company- in this type of corporate structure, there is a minimum requirement of two shareholders. What are the basic requirements for company formation in DMMC?Firstly, you’d need to obtain a physical office space; Secondly, there must be one individual director and a shareholder (of any nationality) in the company; and Thirdly, there must be paid-up capital share. What are the office facilities in DMCC?Some of the office facilities that are available in DMCC are a retail shop, physical office, Flexi desk, services office, and business center office. What are the types of license available in DMCC?When you wonder how to start a company in Dubai free zone, probably the first thing that comes to your mind is license. The DMCC issues various licenses, with each type of permit catering to a different business. There is
Why set up a business in DMCC
Advantages of opening a foreign branch office at DMCC?
Which type of business activities can be performed/done in DMCC free zone?DMCC allows a plethora of business activities in its periphery. They span across industries. From dealing with products and services of tailoring to:
How to open gold trading activity in free zone DMCC?DMCC serves the entire value chain surrounding gold- from research and refinement to trading and investing- you get support for all. These are the steps to gold trading activity in DMCC-
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Property rental prices in Dubai have reportedly recorded a decline of 3 percent in the third quarter of this year. If you've been eyeing Dubai to start your business or for studies and any other purpose, and if the high rents of properties bothered you, let us announce, Dubai is calling you. The rental prices of residential units in Dubai have seen a considerable dip over a few years. Since the third quarter of last year, there has been an all total of twelve percent dip in the residential unit rental prices in Dubai, reports Gulf News. If the twelve percent dip in two years sounds exaggerated, you'd be amazed to know that overall, there has been a 35 percent plummet since what has been called a peak year, that is 2014, according to a property management company in the UAE. How has the Declined Price Impacted the City's Real Estate Landscape?According to Gulf News, the plummeted prices have given more stability and control in the City's real estate market, with more people flocking to grab their share of the property. Now there is more choice among buyers that too at prices to suit their budgets. This price fall has also led to more and more people getting access to properties with more bedrooms, at better locations, in their budgets. "It is encouraging to see so many people starting families and settling into life in Dubai," writes Ashfak Ahmed of the Gulf News. Upgrade to Affordable Premium?Although the fall of real estate rents, which has reportedly been heavily documented from the period of August 2018 to August 2019 have negatively impacted the real estate market. But this decline is the reason more and more people can move in from "apartment to villa." But this "apartment to villa" structure of property mobility is not the only way. British-owned estate agent from Dubai- Allsopp & Allsopp finds in its report that the reverse is also prevalent. Some people are saving extras by downgrading to cheaper rents in Dubai. It's About Time You Look Out For Dubai Visa ServiceIf you've been looking to reside in Dubai, the time is for you now. With property prices declined considerably, you'll surely save bucks in your home, apartment, or residential rent. Apply for a Dubai visa service now. With Business Link UAE's Dubai Visa Service, all you'll do is to look out for the best property you can rent, and we'll do the rest. Why Pro Services?Pro services by Business Link UAE are necessary when you’re looking to shift your residence to Dubai as a foreign investor, or a foreigner. From passport-clearance, getting employee visa, labour and immigration cards to securing trademarks and copyrights for your business, and everything in between, PRO services are a must.
All these are must when you want to shift to Dubai with a business, and is as important as securing a residence in the city. You may also like:
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Dubai's excellent new venture transforms certain chosen universities in the City of Gold into economic free zones. Thanks to the University Entrepreneurship Program. The Crown Prince of Dubai has recently passed the new-age education initiative plans, partnering with universities and private companies. This is aimed at invoking the entrepreneurial prowess in the young minds, even before they graduate, media outlet The National UAE reports. This educational policy will enable the chosen universities to nurture their students so that they can shape the future of business setup in Dubai. The initiative has been signed in partnership between the concerned universities and private companies with the Dubai Future Foundation (DFF), according to Gulf News. The Dubai University Free Zone Strategy (of which this program is a part of), approved by the Crown Prince of Dubai earlier this year, is poised to reinvigorate private and public universities into innovations and economic free zones for students, business media outlet Entrepreneur (Middle East) reports. This strategy is reportedly touted to propel the startup business setup in Dubai and escort Dubai to become a knowledge and innovation economy, harnessing the freshest minds out there, according to the experts. How will this strategy bolster the startup business setup in Dubai? If Dubai's national media outlet report is to be believed, this University Entrepreneurship Program, which is a part of the Dubai's 50-Year Charter aimed at transforming the Emirate into the world's best city, will support students with research, funding, and education. This strategy is believed to graduate, not just students but trained entrepreneurs. "As we approve the strategy to create economic and creative free zones in universities, we set in motion a revolutionary plan that will assist students to realise their dreams in becoming the young successful business leaders of the future," His Highness Sheikh Hamdan was quoted as saying. Which organizations and institutions are backing this strategy?According to Gulf News, the strategy was implemented in partnership between various government and private institutions and organizations. To name, the Dubai Future Foundation partnered with Mohammad Bin Rashid Establishment for Small and Medium Enterprises (SME), Knowledge and Human Development Authority, In5, and TECOM. This tie-up will fund future entrepreneurs and help in achieving commercial licensing. Other organizations reportedly include- Dubai Government Legal Affairs Department, Mohammad bin Rashid Innovation Fund and Dubai Government Media Office, among others. Which Universities and Private organizations are onboard the new strategy to boost business setup in Dubai?American University in Dubai, College of Fashion and Design in Dubai, Zayed University, Higher Colleges of Technology, and Hamdan bin Mohammed Smart University are reportedly onboard the University Entrepreneurship Program. To make things even more interesting for the aspiring entrepreneurs reading this post, Hamdan bin Mohammed Smart University (HBMSU) is already in talks with Signify (formerly Philips Lighting), to join forces. This collab between Signify and HBMSU would make the university first among the UAE universities to qualify as the foremost economic and innovation free zone in a university, under the new strategy. Are the startup business setup biting the most of Dubai's Commercial Cake?Nearly 50% of all the registered companies in Dubai are reportedly early-stage startups. Early-stage startups also contribute more than 47 % of the United Arab Emirates' annual GDP.
These figures from the Dubai Statistics Centre are substantial to establish the fact- business setup in Dubai is happening, booming, and unstoppable. The chancellor of HBMSU, Dr. Mansoor Al Awar said in a press statement that ballooning the role of a university in curating the future of Dubai, has garnered "widespread praise," Entrepreneur Media reports. Time is indeed ripe for business setup in Dubai. Not only students, but independent entrepreneurs could very well explore the host of opportunities Dubai has for them. Also Read: Thinking about a Business Setup in Dubai? Here’re a Few Things You Need to Know Is Business Setup in Dubai Without Residence is Possible? Yes, It is. Know More Here
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Time can be testing. Sometimes time can be a little too demanding. Say, for instance, that time when a company is being voluntarily liquidated. Company liquidation can be a last resort for many factors. Sometimes it is because of the severe offense made by the company against corporate laws. Sometimes it could be a last resort to save the game on the ground- a company is unable to sustain the day-to-day corporate transactions, owing to insufficient liquid funds. Irrespective of the reason, a company is being closed in Dubai, which is also called company liquidation, some challenges have to be met. If you're worried when you think about how to close a business in Dubai, just be advised that the process can be moderately complex, if not out and out challenging. Deregistration, dissolution or winding-up, whatever term you give to liquidating a company in Dubai, the nuances remains the same and without professional service, you’re bound to get exhausted. What is Company Liquidation?Traditionally, company liquidation stands for the winding-up or deregistration of a company owing to various factors like mutual agreement, breach of corporate laws and ethics, inability to meet the daily transaction capacity, and so on. Company liquidation in Dubai employs a liquidator who takes charge of selling the assets, and does the other needful duties of dissolution of the company. There are primarily two types of company liquidation-voluntary liquidation and compulsory liquidation. As can be already guessed, situations often vary. In the case of voluntary liquidation, the shareholders of the company decide the deregistration, and the highest priority is given to the creditors. In the case of compulsory liquidation, the company has to be put down owing to judicial orders. Company Liquidation in Dubai with Business Link UAE's HelpYou are wondering how to shut down a company in Dubai with Business Link UAE's Help? Well, there is the best of help awaiting by top-notch industry-specific professionals who'll help you with canceling the license of a Limited Legibility Company and individual establishment companies. Since Dubai regulates the liquidators, at Business Link UAE, our liquidators are legally recognized to carry out the act of dissolving your company and do the needful. How Business Link UAE Helps With Company Liquidation?As already mentioned, the answer to How to Shut Down a Company in Dubai can be a bit complex. And that is why professionals are there to do errands for you.
From canceling the trade license, settling the telecommunications bill, obtaining the needful certifications from the concerned authorities, crafting the final audit, shutting the bank accounts to terminating all the visas, everything is covered under one roof. So now that you know that there is the best company liquidation service in Dubai available just one call or click away, don't bother doing the tumultuous tasks all by yourself. Hire them who are made to do this job. Hire Business Link UAE. Also check: |