Dubai Maritime City

Dubai Maritime City

Introduction

For centuries, Dubai has attracted interest of seafarers and global traders because of its strategic placement between Europe and Asia, and the subsequent emergence as a happening trading center in 1833 when a trading port was setup in the city. A part of the Dubai World Group of companies, Dubai Maritime City (DMC) holds the distinction of being the world’s first strategically-built maritime center that has been created not only to cater to the requirements of the maritime sector, but to provide a world-class environment for the global maritime community and act as a platform for networking and integration of different maritime businesses and services, and add extra value to the entire maritime community.

Recent formation of Dubai Maritime City Campus (DMCC) in DMC further added to the City’s impetus as a global powerhouse in the maritime sector as this was the world’s most unique and pioneer maritime educational campus to be ever developed. In order to appeal global maritime industry with its uniqueness, DMCC logo and Dubai Maritime City was given a new look build on seven waves that represent world’s seven continents, seven seas, and the seven districts of the Dubai Maritime City.

Dubai Maritime city is the world’s most all-inclusive maritime complex situated in Dubai. Surrounded by the Arabian Gulf waters, DMC is a one-of-its-kind free zone located between the Dubai Dry Docks and the man-made peninsula of Port Rashid.

Reason to Setup Company in Dubai Maritime City

Business setup in Dubai Maritime City is dream come true for anyone associated with the worldwide maritime industry as it is built on well-established maritime traditions and displays higher levels of excellence in terms of administration, efficient corporate structure, liberal government policies, world-class infrastructure, and unmatched investor incentives. Additionally, existing maritime businesses in DMC attract more international clients as it benefits from the growing tourism inflow in the Middle East, presence of cosmopolitan population, and the economic diversity of Dubai.

Business setup in Dubai Maritime City is also a lucrative proposition due to the following reasons:

  • 100% foreign company ownership
  • 100% repatriation of capital and profits
  • 100% tax exemptions on corporate and/or personal income
  • Exemption from all import and export duties
  • Abundant and inexpensive energy
  • Inexpensive and educated multicultural workforce and easy recruitment procedures
  • Abundant financial incentives
  • Efficient corporate infrastructure
  • ‘One-stop-shop’ administration processes
  • Vibrant networking atmosphere, business-friendly climate, and excellent logistics matrices
  • On-site customers inspection
  • Flexibility for companies to operate 24 hours a day in the free zone

 

Business setup in Dubai Maritime City is bound by a set of pre-defined rules and regulations related to employment, business licensing, registration, dispute resolution etc. that need to be followed as specified by the DMC laws. Process for company incorporation gets easy if you are well-aware of the procedures, and how to contact the relevant authorities.

Getting in touch with a reliable business partner like Incorp International, helps you setup your business with ease as they take care of the entire business setup responsibility without you having to worry about bureaucratic red tape and expansive company formation formalities. We assist our clients with detailed decision making and business planning along with choosing permissible legal structures, capital requirement, legal documentation formalities, getting required residential and office space, deciding their business activity type, hiring staff, etc.

A business can be setup in Dubai Maritime City in 2 ways:

New Company Setup – By Individual Applicants or Corporates

Branch Setup – By Individual Shareholders or Corporate Shareholders

Capital Requirement

  1. New Company Setup (Individual Applicants and Corporates)
  • Free Zone Establishment – AED 1,000,000 (US$ 273,972)
  • Free Zone Company – AED 500,000 (US$ 136,986)
  1. Branch Setup (Individual Shareholders and Corporate Shareholders)
  • No Capital required

Documents Required for Business Setup

  1. New Company Setup (Individual Applicants and Corporates)
  • Proof of trade name reservation and initial approval for the activities (provided by
  • Passport copies and resume of the manager and shareholders
  • Personal Information sheet for each shareholder & manager
  • Documents for Lease Agreement – It’s mandatory to have a physical business/office address in UAE for company setup, and the rent in free zone usually varies between US$ 405 to US$ 720 per sq. m. We can assist you in searching for a physical address in DMC
  • Attested and Notarized Memorandum of Association / Article of Association from the UAE Embassy at the place of origin
  • Attested and Notarized Power of Attorney appointing us as your legal representative to act on your and/or shareholders behalf
  • Attested and notarized Certificate of Registration or incorporation, and Business License of your existing company / entity by the UAE Embassy. (Only for corporates)
  • Physical address for your business
  1. Branch Setup (Individual Shareholders and Corporate Shareholders)
  • Passport copies and resume of the manager and shareholders (manager must have a university degree)
  • Proof of trade name reservation for the new branch and initial approval sheet for the activities performed by each shareholder and manager.
  • Initial approval proof for the activities to be performed in the new branch
  • Notarized Memorandum of Association / Article of Association of your existing main branch at place of origin by the UAE notary public
  • New Branch’s Lease agreement– It is mandatory to have a physical UAE business address with a minimum of 60 sq. m space. We can help you search for the physical address
  • Notarized Power of Attorney appointing us as your legal representative to act on your and/or the shareholders’ behalf
  • Existing company or entity’ Certificate of registration/incorporation or license duly attested and notarized by the UAE Embassy
  • Board resolution of the directors of your existing company at the place of origin showing the expression of interest for establishing a branch of existing entity in DMC, in the template forwarded by us (only for Corporate Shareholders)
  • Company profile of your main branch (only for Corporate Shareholders)
  • Your physical business address

Feel free to contact us and get your queries resolved.