Types of legal entities in DMCC
Types of company
- New company – Limited liability company as a newly formed entity with single or multiple shareholders.
- Subsidiary – Limited liability company as a wholly owned subsidiary of a local or foreign company
- Branch – Local or foreign company (no share capital is required)
Types of License
Each company is issued a license depending on the business activity, while the license will be specific to the selected activities according to the business plan.A company may also apply for multiple licenses or for a General Trading license.
The following types of licenses are available:
- General trading
Requirements for company setup
- Appointment letter
- Passport copy
- Proof of residential address (utility bill)
- Summary of business plan
- If applying for a branch or subsidiary, copies of the parent company documents notarized and attested
- Certain business activities may have additional requirements
Steps and time of formation
Your DMCC Company formation process goes through the following steps:
- Pre-approval by DMCC
- Company Registration
- Company Licensing
The whole process is expected to take 3 to 4 weeks.