The construction of Dubai Maritime City (DMC) Free Zone began in 2007 when the Dubai Maritime City Authority was also enabled by the Ruler of Dubai. The free zone’s construction should have ended in 2012, however, Dubai Maritime City is expanding continuously. Foreign investors interested in opening a company Dubai Maritime City Free Zone should know that it is divided into:
- the Maritime Center which is dedicated to companies that want head offices in the free zone;
- the Harbor Offices where maritime companies can set up operations;
- the Harbor Residence which, as its name says, is destined for residential purposes;
- the Industrial Precinct where vessels can undergo repairs;
- the Marina District which serves as a recreational center;
- the Academic Quarter which was enabled for study purposes.
Our company formation agents in Dubai can offer more information about the main reasons why you should open a company in Dubai Maritime City.
Types of companies in Dubai Maritime City
Foreign investors and companies can set up several types of companies in Dubai Maritime City. Foreign natural persons can register free zone companies and free zone establishments, while foreign companies can set up both types of free zone entities and branch offices.
The main difference between the free zone company and the free zone establishment resides in the number of shareholders and share capital requirements allowed:
- the free zone company must have at least two and a maximum number of five shareholders and a minimum capital of half-million AED;
- the free zone establishment must have at least one shareholder and minimum share capital of 1 million AED.
No matter the type of company one decides to register in Dubai Maritime City Free Zone, they must appoint at least two directors and one manager who must be a resident. Corporate managers are not allowed in Dubai Maritime City.
Registering a company in Dubai Maritime City
In order to open a company in Dubai Maritime City, the following documents must be filed with the DMC Authority:
- copies of the shareholders’ passports;
- information on the managers and directors;
- the manager(s)’ CV(s);
- a lease agreement for the office space;
- the company’s articles of association;
- the company’s certificate of registration, in the case of branch offices;
- power of attorney for the local agent carrying out the company registration process.
For assistance in setting up a company in Dubai Maritime City Free Zone and the licenses available, please feel free to contact our company registration representatives in Dubai.