According to the company activities and licenses granted, the minimum share capital amount might vary from AED 1,000 to AED 1,000,000, depending on the Free Zone.
Dubai Maritime City Free Zone is one of the newest Free Zones in Dubai. Additionally, it is a component of the Dubai World Group, which comprises six unique districts.
Foreign investors are interested in How to setup a business in Dubai and may choose the Dubai Maritime City Free Zone since it provides a plethora of benefits and a selection of corporate structures.
The Dubai Maritime City Authority (DMCA) was entrusted with managing the Dubai Maritime City Free Zone when Free Zones in Dubai was established in 2007. The DMCA’s primary emphasis has been and will continue to be on fostering an environment of legislation and activities that is conducive to attracting international maritime businesses and investors.
Due to the strategic investments made by Dubai’s corporate community, the city is rapidly establishing itself as a prestigious, high-quality maritime hub.
The Dubai Marine City Authority provides the marine industry with everything necessary to maximize the sector’s contribution to the economy. The Dubai Free Zone Authority maintains ecologically friendly, high-quality facilities.
This guide will provide an overview of how to set up a business in Dubai Maritime City Free Zone, as well as some of the benefits that come with doing so. Whether you’re looking to establish a new maritime business or relocate an existing one, read on for all you need to know about setting up Business in Dubai Maritime City!
How to Setup a Business in Dubai Maritime City Free Zone?
The procedure for forming a Free Zone corporation in Dubai Maritime City Free Zone is quite similar to the procedure for doing the same thing in other Free Zones.
If you stick to the established protocol and take a methodical approach to complete the necessary paperwork, you will be able to start up your company as soon as possible.
To get started, choose a business name that is suitable for your venture and register it with the Dubai Maritime City Free Zone.
- Take the necessary steps to get pre-registration permission from the Dubai Maritime City
- Both a resume and a passport are required from the individual who is responsible for the company
- It is required that the shareholder or the owner supply his or her personal details
- After providing the required papers, you will need to pay the associated costs
- At this point, it’s time to get the license and the documentation.
Documents Requirements for Company Formation in Dubai Maritime City Free Zone
Following is the general list of documents required to set up a business in Dubai Maritime City:
- Copies of the passports of the shareholders
- Details about the managers and board members
- The manager’s resume
- A contract to rent the office space
- The articles of association for the company
- The company’s registration certificate, if the office is a branch
- Power of attorney for the local agent who is in charge of registering the company
Business Setup Costs in Dubai Maritime City Free Zone
| License/ Activity | Cost in AED |
| Industrial License | 9375 |
| Commercial License | |
| Specific Trading | 9375 |
| Oil& Gas | 12,500 |
| Real Estate | 18,750 |
| Aviation | 18,750 |
| General Trading License | 18,750 |
| Service License | |
| Specific services | 9375 |
| Oil& Gas | 12,500 |
| Freight Forwarding | 10,625 |
| Real estate | 18,750 |
| Aviation | 18,750 |
Benefits to Establish a Business in the Dubai Maritime City Free Zone
Here are some of the core benefits of setting up a business in the Dubai Maritime City Free Zone:
- No personal income or capital gain taxes
- Free Zones in Dubai allow for complete ownership by foreign investors
- No corporate taxes
- There are no customs fees for importing or exporting goods and commodities
- Repatriation in its entirety of both capital and earnings
- Modern, efficient communications infrastructure
- Contemporary roadways and other associated forms of infrastructure
- Infrastructure for the energy sector that is of a high standard and is carefully maintained
- Liberal labor regulations and no difficulties in finding new employees
- A workplace that is both pleasant and functional
- There are no limitations placed on the exchange of currencies or on migration.
- Free Zones provide outstanding amenities, making them a great location for carrying out company activities.
- The United Arab Emirates is a fairly secure nation both politically and economically, and it also has a very low overall crime rate
- Perfect location for the formation of your company close to other major free zones like
License Options in Dubai Maritime City Free Zone
The licenses that are accessible via the Dubai Maritime City Free Zone cover all maritime activities. Therefore, you may be quite guaranteed that a license will be available for the kind of ocean-related business you operate.
Recently, Dubai Maritime City has begun providing more permits in addition to those already granted.
1. Maritime Commercial License
Companies that operate in Dubai’s waters and engage in marine activities, as well as individuals who do so for recreational reasons, are eligible for a maritime commercial license.
2. Maritime Craft Crew License
Companies from both outside and the host nation may submit an application for this kind of license in order to manufacture and operate boats that adhere to international standards.
3. Maritime Operations Services License
The possibility to get a maritime operating services license is now available to businesses in the waste management industry. These companies are able to offer full solutions for trash, air pollution, and ballast water management.
4. Maritime Education and Research License
Companies engaged in maritime education and research are eligible for a license particularly allocated for maritime education and research.
Types of Companies You Can Form in Dubai Maritime City Free Zone
Following are the types of legal entities that can be opted for while setting up a business in the Dubai Maritime City Freezone:
1. Freezone Establishment
A Free Zone Establishment (FZE) is a single-shareholder limited liability business that may be formed in any UAE Free Zone.
This kind of organization has limited responsibility for its one shareholder. One human (person) or one non-individual entity may occupy the position of Shareholder (company).
2. Freezone Company
A Free Zone Company is an autonomous legal body that may include one or more well-known individual owners, corporate shareholders, or a combination of the two types of shareholders.
3. Branch Office
A Branch Office is an extension of a foreign parent company that is registered in a nation other than the UAE. It is a fully operational corporation with the authority to carry out contracts and other activities in line with the provisions of its license.
A foreign Branch Office is not permitted to engage in any activities that are not similar to those of its parent company.
Industries you can setup in Dubai Maritime City Free Zone
Following is a list of industries found in the Dubai Maritime City Freezone:
- E-commerce
- Insurance
- Non-profit
- Accounting & Auditing Firm
- Educational Institution
- Law Firm
- Oil & Gas
- Agriculture & Fishing
- Events Organizing
- Manufacturing
- Real Estate
- Cargo & Freight-forwarding
- Financial Institution
- Media & Entertainment
- Technical Services
- Construction / Contracting
- General Trading
- Money Exchange
- Tourism & Hospitality
- Consulting
License Renewal in Dubai Maritime City Free Zone
Renewal is a quick and cost-effective process for DMCA-compliant businesses. In contrast, starting with your business’s second renewal, you will be required to submit an annual audit report.
To complete the renewal procedure for your business, you will be needed to pay the renewal fee and submit the signed lease agreement for your location.
This must be completed before proceeding to the next step. A further advantage is that your physical presence in the UAE is not required for the renewal procedure, rather, the procedure may be completed via the employment of an agent.
Liquidation of Business in Dubai Maritime City Free Zone
As is the case with business renewal, the presence of the company’s owner is not essential for the liquidation procedure, which may be done by an agent in his or her place.
In order for the liquidation procedure to be completed, you will also be required to pay the government-mandated fee.
Typically, a month is required to complete the liquidation of a corporation, which involves the following steps:
- The cancellation of all issued visas
- The leasing arrangement has been terminated
- The bank account has been closed
Facilities in Dubai Maritime City Free Zone
Following is a list of facilities in DMCA:
- Industrial Precinct
- Dubai Maritime City Campus
- The Maritime Centre
- The harbor office
- Marina District
- Harbour Residence
FAQs About Dubai Maritime City Free Zone Company Formation
How much money do you need to start a business in Dubai?
Can a foreigner start a business in Dubai Maritime City Free Zone?
In Dubai Maritime City, foreign investors and enterprises may set up a variety of businesses. Corporations and establishments in the Free Zone are open to foreign citizens and companies alike, and both kinds of organizations, as well as branches, may be registered by foreign citizens and companies.
Can I transfer my company from Dubai Maritime City to another Free Zone?
No, you can only set up a branch of your existing company in another Free Zone.
Conclusion
The Dubai Maritime City Free Zone has a lot of business benefits for companies looking to set up in Dubai. The city is designed to be a maritime center with all the necessary amenities and services available on-site.
There are also plenty of opportunities for businesses in the city, with many government organizations and agencies located there.
Dubai Maritime City offers an excellent opportunity for businesses to get involved in the maritime industry.
If you’re looking for information on other Free Zones, we recommend visiting our archive page. If you want to learn more about how to set up a business in Dubai, we also have a comprehensive guide for you.