Dubai Metals and Commodities Centre (DMCC) FZE
By Dubai Free Zones: Dubai Metals and Commodities Centre (DMCC) FZE
Sep 12, 2004, 10:41
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Dubai Metals and Commodities Centre (DMCC) FZE
Dubai Metals and Commodities Centre (DMCC) is located in Dubai - U.A.E. It was established in April 2002. It is spread on the total area of 300 hectares and located 25 kms away from Dubai International Airport.
The Dubai Metals and Commodities Centre (DMCC) is a strategic initiative of the Dubai government created to establish a commodity market place in Dubai. It provides industry-specific market infrastructure and a full range of facilities for the gold & precious metals, diamonds & coloured stones and commodity industries. Dubai Metals and Commodities Centre is also a free zone authority offering 100% business ownership, a guaranteed 50 year tax holiday and freehold property options.
About Dubai Metals and Commodities Centre
Launched in 2002, this strategic government initiative has been established to support the specific needs of its core segments - Gold & Precious Metals, Diamonds & Coloured Stones and Commodities.
The objectives of this progressive Centre include:
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Creation of a dedicated market place in Dubai
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Increase the value and volume of commodities traded in and through the region
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Facilitation and integration of the entire value chain of its key segments
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Broaden the local market horizon e.g. Refining – Manufacturing – Trade
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Create industry specific market infrastructure for its core segments, innovate new products and services
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Provide a supportive business environment through purpose-built infrastructure
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Promote regional industry growth
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Enhance local industry through implementation of international standards
Dubai Metals and Commodities Centre is a free zone authority offering market participants of the commodities industry and support services invaluable business incentives, including:
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100% business ownership
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A guaranteed 50-year tax holiday on personal and income taxes
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Purpose-built infrastructure available on a freehold or leasehold option
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A one stop shop facility for processing of all documentation including immigration, registration and licensing
Dubai Metals and Commodities Centre Facilities:
DMCC’s 300-hectare development will include the Almas Tower (meaning Diamond in Arabic), the AU Tower and the Commodity Tower, in addition to plots of land allocated for special manufacturing operations, located in close proximity to Dubai’s emerging projects and developments. Each purpose-built tower will have facilities that enhance trading and will provide commercial and support facilities for market participants in DMCC’s specialized segments; gold & precious metals, diamonds & coloured stones and commodities.
DMCC offers its members services ranging from registration and licensing to general services that ease the process of setting up a business within the complex. This ‘One Stop Shop’ strategy allows member companies to complete the employee affairs procedures, passport renewals, traffic affairs, and vehicle registration through DMCC itself.
Dubai Metals and Commodities Centre Key Benefits:
DMCC
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Unique World wide centre Industry Clustering
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Purpose built infrastructure
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World class security systems
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Preferential freight rates
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Regulated environment
FREE ZONE STATUS
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100% Business Ownership
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Ability to purchase premises
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Single Window Clearances (incl. Licensing, Immigration, etc)
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Guaranteed 50 year tax holiday on personal and income taxes
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No foreign exchange controls or barriers to entry No restrictions on capital repatriation
Dubai Metals and Commodities Centre Location
DMCC's 300-hectare purpose-built development is situated in the heart of ‘new’ Dubai on the Sheikh Zayed Highway and is surrounded by Dubai’s newest projects including The Palm Island, Dubai Internet City and the Dubai Marina. Strategically located in close proximity to the major port of Jebel Ali and in easy reach of Dubai International Airport, the Centre lies between the fifth and sixth interchange on Sheikh Zayed road.
The centre will house three commercial towers to represent DMCC’s core segments:
Almas Tower
Almas Tower (Almas meaning ‘diamond’ in Arabic) is a landmark building, purpose built to cater to the specific needs of the diamond industry. The 56-floor tower will be the focal point of DMCC’s development. With its dramatic glass design and spiraling theme situated on an island surrounded by water, the Almas Tower will be a unique addition to Dubai’s skyline.
The Tower will house the regions only diamond exchange - the Dubai Diamond Exchange. This impressive building will also accommodate hi-tech security systems and secure vaulting facilities for its occupants.
Office space in the tower will be available on a freehold option and the tower is due for completion by mid-2006.
Business Avenue
In advance of the completion of the Almas Tower in 2006, DMCC is offering an interim solution to the needs of diamond companies by the creation of a purpose built office facility at the Dubai based Business Avenue. Ideally located minutes away from Dubai’s International Airport, DMCC’s 11,000 sq ft facility in the Business Avenue offers a combination of convenient location and a secure environment exclusively for the Diamond Trade.
This modern office space has offices ranging from 25 sq metres in an impressive glass building that allows natural light to enter- a vital requirement for diamond players. Companies can also enjoy the building's many facilities, which include a health spa, a gym, and an internationally acclaimed café.
DMCC will provide security for all common areas including round-the- clock, manned security controlled access and CCTV. These purpose built offices also have the ability to store safe vaults up to 1,500 kg (one safe per 25 sq m).
Dubai Diamond Exchange
The Business Avenue will also provide a temporary location for the Dubai Diamond Exchange.
AU Tower
AU Tower (AU being the chemical composition of ‘gold’) will facilitate the gold & precious metals market participants on an optional freehold or lease basis. The tower will be 35 floors high and will be completed by early 2006.
Commodity Tower
This tower will cater to the commercial needs of various commodities industries. Providing an ideal base for regional operations, the tower is due for completion by early 2006. Standing 35 floors high this tower will be available on a lease basis.
Manufacturing Complex
DMCC’s objective is to expand the local market horizon from Dubai's current escalating position in trading, to facilitator of the entire value chain within its core segments. DMCC’s purpose built manufacturing complex for fabrication of jewellery, coloured stones and precious metals was created to achieve just that.
The manufacturing complex will comprise of 6 buildings of 12 floors with a total available space of 6000 square metres for each building. The minimum unit size is 50 square metres and the maximum on any one floor is 500 square metres.
The manufacturing complex has been designed with consideration to the specific needs of the industry. The complex consists of workshops (highlighted in pink); staff accommodation (highlighted in yellow) and common areas for catering and entertainment (highlighted in blue).
Sophisticated security systems separate the work area from the accommodation. Please refer to the floor plan for the manufacturing complex, which shows a typical layout of a lower floor. The plans on the higher floors vary slightly to accommodate different numbers of accommodation wings. The number of rooms decrease on higher floors whilst floors nine to eleven house only workshops.
Workshops
The workshops can be purchased in any number, upto a maximum of ten per floor. Booking a total of ten gives clients sole access to, and usage of, the corridor space of 75 square metres. Each workshop is equipped with access to central air-conditioning, extraction systems, acid disposal and gas, electricity and water supply.
Accommodation
The number of accommodation units varies from 10 to 53 units, up to the eighth floor. Each room is designed for a maximum of four people. Washrooms are located at the end of each wing. Accommodation for female employees will be in an independent building.
Studio Apartments
Located on the twelfth floor of each building, the studio apartments are ideal for senior staff accommodation. Each apartment is 49 square metres in size and suitable for one or two residents.
Common Areas
Dining Areas: The central areas of the building have been allocated for dining. Cooking is not permitted within the residential area. Caterers selected by DMCC considering various cultural dietary preferences, will manage and operate the food and beverage requirements at preferential rates.
Recreational Rooms: They are provided at the end of each accommodation wing. Additional external recreational facilities have been provided in the overall site structure.
Additional Services: Offices and storage space will be available for rent/purchase on the ground floor of each building. Laundry services will also be based on the ground floor of each building.
Activities Allowed
a) Gold and Precious Metals
DMCC plan to strengthen Dubai's position as the leading regional center for bullion business by offering improved facilities to enterprises establishing themselves under the Centre's auspices. These facilities are likely to include:- communal, secure vault facilities; premises for the establishment of gold refineries; factory space to increase the manufacture of gold jewellery; office space for wholesalers, traders and banks; essay facilities; the introduction of a Code of Conduct for the supervision of the bullion enterprises within the Centre to ensure that they abide by the highest international standards.
b) Diamond and Coloured Stones
DMCC aims to be a center of diamond cutting and polishing, as well as international trading center among manufacturers and brokers. Gem Laboratories offering appraisals and certification will ensure the consistent quality of diamonds and coloured stones through the very latest technology and process, while a training center will bring the finest educational institutions in gemology to Dubai. DMCC has been instrumental in the UAE becoming one of the first in the Middle East Countries to implement 'Kimberly Process'. This is a part of a commitment to align the trade with global standards and protect the legitimate diamond industry.
c) Other Commodities
Capitalizing on the absence of any International Commodity Centre in the time zone between Europe and the Far East, this modern complex will deliver a distinct advantage in what is a highly competitive global market. With the latest information technology driving it forward, a fully developed infrastructure in physical trading, communication and storage will be accessible to clients.
Company Formation
10-20 days for registration and licensing
Type of Licenses issued
Manufacturing license, Trading license, Service license
Dubai Metals and Commodities Centre Contact Information
Emirates Towers, Level 4
P.O. Box 48800, Dubai, U.A.E
Phone: +9714 390 3899
Fax: +9714 3903897
E-mail: office@dmcc.ae
Internet: http://www.dmcc.ae
Useful Links:
Dubai:
Diamonds & Coloured Stones:
Gold & Precious Metals:
Commodities:
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