DMCC Partners with DED to Support Business Operations

Dubai Multi Commodities Centre (DMCC) has joined hands with the Department of Economic Development (DED) to help its customers run their businesses throughout the UAE while cutting down costs at the same time. The free zone authority’s growing efforts to satisfy their customer’s business needs have recently led to the introduction of two new services: obtainment of an NOC to carry out business activities on the mainland and provision of an office permit to dual license holders (DMCC & DED).

To begin with, we will see what the first newly introduced service is like. This service was introduced by the free zone authority in continuation of its remarkable attempts to support their customers’ business and it enables them to operate on the mainland. What was once not possible to achieve without obtaining a license from DED has now been made possible by means of providing a No Objection Certificate (NOC) as an initial step. Active companies, registered within DMCC, that have not initiated the process of amending activities or deregistering license/company can apply for the NOC from the free zone authority. Although firms are required to meet a few criteria in order to be eligible, it certainly is a huge advantage for service providers as this would mean expanding into the territories of the mainland, hence the possibility of direct dealing with customers.

The simplicity of obtaining a Commercial Permit from DED is a bonus that would cause companies to immediately set out to derive benefit from this service. All that is needed is an application for NOC on the DMCC portal and payment of an affordable fee. The permit is valid for a period of 90 days and is issued within two days of submission. The NOC provision allows the company representative to proceed to DED in order to fulfill the requirements of obtaining the Commercial Permit, which would allow them to start running their business on the mainland instantly.

Moving on to the second service, let us see what it has to offer. Several companies based in DMCC own branches and subsidiaries on the mainland while some shareholders of DMCC companies own other entities registered at DED. The second service was thus implemented with the aim of helping such customers to operate their business with ease and cut down the cost of renting an office space for their mainland companies. These customers can simply take advantage of carrying out dual license activities from their premises in DMCC.

This particular service that has been made available by DMCC allows companies to apply, renew or cancel the permit when required. However, it is not possible to amend the permit once it is issued. The permit is valid for one year and companies are strictly required to comply with DMCC regulations while sharing the office space. A vital point to be noted is that no property other than an office space in DMCC is allowed for sharing. For instance, if the property type registered under the DMCC company is a shop or if the company has a unit in a business center, the company cannot apply for this permit. The process is quite simple and includes granting the employees of the DED entities access to the free zone premises.