Latest News

CONNECT, NOW.
We understand the importance of availability, and we act on it.

DMCC and DED Signed MoU on Dual Licensing

28/8/2019

Dubai’s free zone – Dubai Multi Commodities Centre (DMCC) recently signed a MoU with DED.

In continuation to the news released in October 2018 on dual licenses between free zones and mainland in UAE, where it was stated that Abu Dhabi free zones can have dual licenses to operate onshore in Abu Dhabi, Al Ain and Al Dhafra and also where a few Dubai free zones had entered into Memorandum of Understanding (MoU) with the Department of Economic Development, Dubai (DED), another Dubai free zone recently entered into a MoU with DED.

Dubai’s free zone – Dubai Multi Commodities Centre (DMCC) recently signed a MoU with DED. The aim of this MoU is to facilitate trade and boost economic activity in Dubai. The MoU introduces a dual licensing scheme.

This scheme shall allow DMCC companies to establish operations in mainland Dubai by obtaining a DED license apart from DMCC license. Furthermore, the scheme also allows for certain activities under the service category. However, such companies must first obtain a No Objection Letter from DMCC. This scheme shall also enable smooth exchange of information between DMCC and DED.

You might also like...
Emiratisation Penalty upto AED 72,000/- Will Take Effect from 1 Jan 2023
Starting from 1 January 2023, private sector companies with 50 employees or more that have not raised Emiratisation targets by 2% of skilled jobs in 2022, will be fined according to the Ministry of Human Resources and Emiratisation (MoHRE).
read More
FTA Sets Deadline 31 December 2022 to Apply for Re-determination of Administrative Penalties on Taxes
The UAE's Federal Tax Authority (FTA) urged eligible registered taxpayers to apply for the re-determination of administrative penalties on taxes prior to the 31 December 2023 deadline.
read More
Facilities for Small Projects Subject to Corporate Tax
The Ministry of Finance revealed its intention to offer facilities for small projects subject to corporate and business tax, noting that details of these facilities will be announced during the first half of next year.
read More
SEE ALL INSIGHTS
Thanks, got it!
Something went wrong, please try again.

Use our online calendar to set up your own appointment and connect to an elawyer for a consultation.