company setup dmcc 2014

STEP BY STEP GUIDE

Guideline Setting up a New Company Online in DMCC Free Zone

Version/Date Version 1, 18th May 2015

Who should use this guide Anyone who wants to set up a new company, subsidiary or branch in the DMCC Free Zone

Purpose of this guide To provide step by step instructions for anyone wishing to complete the company set up process on the DMCC member portal.

Introduction Setting up a company is a big step. By taking the company set up process online DMCC is able to collect all of the information and documents that we need, in one place, to get your company set up faster.

You will need to invest some hours of effort to complete the online process, but please be assured of two things.

1. We are here to help if you need us,

2. By submitting online you have given us what we need to get your company set up fast!

Main steps

*Note that the process time will depend on the time to receive external approvals,

which may be required for some companies.

IMPORTANT Read this section before you begin

Access to the DMCC portal

You will set up your DMCC company online. Follow this step by step guide to register your company. You will receive a login to the portal after you have completed the initial application on our web site.

What information do I need?

You will need to know certain information, which is outlined at the start of each section, called “What do I need to know to complete this section”

What documents do I need?

Submit initial inquiry on

www.dmcc.ae or call / email

DMCC will contact you and

send a login

Complete company set up details on DMCC

portal

Pay initial application fee -

AED1,000

Receive confirmation of

pre-approval

Complete payment

Visit DMCC with original docs or send attested

docs

Receive provisional

registration and bank letter

Upload License requirements

Receive Certificate of Registration &

License

1 working day Client step Client step

Up to 10 days Client step 3-5 days*

Client step 2-4 days

Setting up a New Company Online in DMCC Free Zone 2

There will be a number of documents that you will need to upload on the DMCC portal. This will depend on the type of company your are setting up.

Review DMCC’s Applications Guidelines at www.dmcc.ae under Free Zone \ Applications Guidelines. This will save you time!

• If you are setting up a Branch make sure to choose Application for a new branch.

• If you are setting up a new company, subsidiary or joint venture then select Application for a new company.

We suggest you save scanned copies of documents on your computer before you begin. Note: the maximum file size per file is 15MB.

What documents will be generated?

Depending on the answers you give, the DMCC portal will automatically generate certain documents that have been pre-populated for you. You will simply need to print these documents, in some cases there will be some extra fields to fill in, and then you will sign and upload them back into the DMCC portal.

How do I save and re-start my Service Request later? Go to www.dmcc.ae and click on Visit DMCC Free Zone Member Portal Select Service Requests Select the Service Request number from the list

What do I do if I don’t have the information I need?

If you are part way through your application and you don’t have certain information, you will be able to Save your request and return later under “Service Requests” to complete.

http://www.dmcc.ae/�



LETS GET STARTED - INITIAL APPLICATION

Basic details will be collected to enable you to get started with your company set up

What do I need to know to complete this section

Basic contact details for the applicant The type of company you want to open. See Tip. The kind of activities you want the company to perform. See Tip for

branches.

What documents are generated in this section

None

What documents do I need to complete this section

None

Go to www.dmcc.ae Select Free Zone, Apply Online



Complete the application form details Click Submit

Tip: Consultants should enter their own email address and mobile

Tip: A new company may have shareholders that are individual persons and/or companies.

A Branch is wholly owned by another company with the same name, and is limited to performing the same activities as the parent.

A Subsidiary may perform different activities and have a different name to the parent company.

You will receive an online message...


...And this email confirmation with your reference number. One of our Business Development Executives will be in touch with you to confirm your details.

Progress check 5%

COMPANY FORMATION DETAILS

In this section you will provide details for your new company’s activities, plus company shareholders, directors and managers. You will do all of this on the DMCC portal. You can save and return to the form at any time.


• None specified


• None


• None specified

Shortly after our Executive confirms your details, you will receive an email link to the DMCC portal where you will set your password and complete your online application.

Tip: If you requested to be contacted about property choices then one of our representatives will also contact you to find out your needs.

Click on the link in the e-mail.

The page opens to a password change request. Create a new password.


Once the password has been updated, the page is redirected to the Services Dashboard.

Click on “Open a Business”

Then select “New Company Applications”, and “Complete Application”


You will be directed to the new company application form.

A “Need Help” pop-up will appear to guide you. This pop-up will guide you step-by-step through the application. It can be turned off at any time.

Tip: You can close the Company Overview by clicking the left hand arrows. This will give you full screen view.

Basic Company Details


3 choices of company name The bank you plan to use. We need this information now so that we

can issue a bank letter to you later. The unit value of the shares in your company. Most choose AED1,000

but it can be any multiple of AED100. Details of the parent company license (Branches only)


None


None specified

Proposed Company Name:

Enter 3 proposed company names.

Tip: The system will prevent certain restricted words from being entered. You will not be able to select a name that has copyright or trademark.

Tip: A new company will always have the proposed name followed by DMCC.

Tip: Branches will be exactly like the parent company name followed by the suffix DMCC Branch.

Company Type:

Select either New Company or Branch. New company type includes Subsidiaries and Joint

We will assign a Member Services Executive (MSE) to you shortly

This is a temporary name until your new company name is approved. It will change then!


Ventures.

If you are setting up a Branch, enter the Parent Company Details now.

Parent Company Details:

We need to know which bank you intend to open an account with. This is mandatory as we provide you with an introductory letter to deposit your share capital. Not required for branches.

Banker Details:

Select Third Party Liability and Workman’s Compensation if you would like a quote from DMCC’s insurance partner at a discounted rate. The insurance is mandatory but may be obtained from any qualified insurer in the UAE.

Value Added Services:

Enter the unit or par value of each share in the company. Most companies select AED1,000 per share, which is the minimum share value per share.

Registration Details:

Tip: Later, when you add Shareholders, this share par value will be multiplied by the number of shares per shareholder to become the share capital for the company. The minimum share capital for most companies is 50,000.

Eg, 1,000 x 50 shares = 50,000

Correspondence details:

Please enter your mobile phone number

Click Save

Progress check 10%


License Activities - In this section you will select the activities that will appear on your company’s license


The activities your company intends to perform


None


Your responses in this section will determine which documents are required later, for example some activities will require a brief business plan and/or an NOC from another authority.

You will receive a confirmation and a Service Request number.

Click on “Add License Activities”

Scroll down to “Search to Add Activities”. At license type, click on the drop down arrow and select the relevant options.

Trading – is related to buying and selling physical items

Service – is related to the provision of services

Industrial – is related to the manufacture and making of goods.


Tip: There are 2 ways of selecting the required activity.

The first way is to click on the drop down of “Group” selecting the relevant group and then ticking the required activity/activities which appear.

The second way is by typing a word at “Keyword” and then click on “Search”. Tick the required activity/activities.

Use the * to assist with wildcard search. Eg. Consult* will return Consultancy and Consulting.

Tip: If you can’t find the activity you want, go to www.dmcc.ae and review the Activities List under Applications Guidelines in the General section.



Click on “Add License Activity”. The required activities will appear under “Added Activities”.

It will also show any NOC letters that are required for submission to 3rd Parties for approval.

Tip: An NOC letter is a No Objection Certificate obtained from another relevant authority in relation to the activities your company wishes to perform. Later in the process DMCC will provide you with an introduction letter to the relevant authority/ies available as an e-document for download. This will then enable you to approach the other authority for your NOC.

Under “Pricing Details” it will show the cost of the license.

Tip: You may choose up to 6 activities under the same license with no additional fee if the first 2 digits of the activity code are the same. Should two different licenses be required, the payment of the two licenses will also show.

Click on “Save”

Progress check 15%


Company Shareholder/s


The proposed shareholders of this company The passport details and address details for each individual

shareholder and the number of shares they will hold The license details of each company shareholder and the number of

shares to be held You will only be able to complete this section if you meet the

minimum shareholding requiements. This is AED50,000 for most companies, but is more for some license activities.


None


Your responses will determine which documents you will be required to provide later, such as passports or incorporation documents.

Definitions Shareholder – is an owner of the company.

Click on “Add Shareholder”

In this process you will provide information about the company’s shareholder/s. Each of the shareholders will be issued an electronic Share Certificate at the end of the company set up process.

Select “Add New Individual Shareholder” or “Add New Company Shareholder” whichever is relevant for the shareholder type.

Tip: A company may have a combination of individual/s and Corporate shareholder/s. You will add them all in this section.


For New Company Shareholder, the page will look like this.

Fill in all mandatory fields.

The No of Shares for the shareholder will be multiplied by the Share par value from the first section of this application. This will be the amount this shareholder must contribute to the share capital of this company. It will also determine the ownership % the shareholder has in the company and will be set out in the Board Resolution.

How does Share capital and ownership % work?

For example: if there are two shareholders and each hold 25 shares and the share par value is 1,000; then the total share capital of the company is 1,000x(25+25)=50,000, and each shareholder owns 50% of the company.

For New Individual Shareholder, the page will look like this.


Fill in the passport number and then click on the magnifying glass next to Nationality. Type the first few letters of the relevant nationality and click on “Go”. Select the relevant nationality from the results

Click on “Enter Details” above “Additional Information”

If the details automatically appear under Additional Information appear, just review them and enter the No of shares and Click Save.

For most applicants the details will not automatically appear, therefore fill in all mandatory fields.

Tip: The reason DMCC asks for the Passport No. and Nationality in the first section is because some individuals may already be in our records in which case their details will automatically populate. If those details are not up to date a separate request must be made to update them. This is because any official change to a person’s details may affect another legal entity and must be completed with full consent.

Don’t worry you can continue the company set up in the meanwhile.

Enter the No of shares and Click Save.

Share Details:

Sample below:


Also see note on How does Share capital and ownership % work?

For additional shareholders, whether individuals or Corporate, repeat the process from “Add New Individual Shareholder” or “Add New Company Shareholder.

Once all shareholders have been added, click on “Back to Service Request”.

Progress check 25%

Official Company Roles


The proposed Director/s, Manager, Secretary [known as Official Company Roles] and Legal Representative (if applicable)

The passport and address details for each individual office holder The types of powers that will be assigned to each office holder within

the company resolution/s (single or joint signing)


None


Your responses will determine which documents you will be required to provide later, including passports and specimen signatures.

Definitions Director – An individual elected by the shareholder/s to manage the affairs of the company. A Director does not own the company. Minimum of 1 Director, maximum of 7 Directors.

Manager – Is the individual named on the Company License. One Manager per company.

Secretary – An individual appointed by the Directors of the company to handle legal issues. The are typically responsible for setting up meetings, recording minutes and keeping records. This is an optional position.

Legal Representative – An individual that has been given Power of Attorney to act on behalf of another individual or multiple individual in carrying out a listed set of responsibilities. This is an optional position.


Click on “Add Dir/Mgr/Sec/Legal Rep

In this section you will nominate the Director/s, Manager, Secretary and Legal Representative/s for this company.

Tip: These are official positions pertaining to the legal formation of the company and will appear in various official documents including the Memorandum of Association and Articles of Association. The Manager’s name will appear on the company’s Trade License.

If one of more of the company’s Shareholder/s will also hold a position as a company Office holder then Click on Edit, beside the Shareholder’s name.

Otherwise Click on Add New Dir|Mgr|Sec|Legal Rep to add a new individual who is not a Shareholder.

Scroll to “Passport & Nationality Details”.

Powers:

Select Singly or Jointly

Tip: The Power vested in the Office holder will be formalised in the Company’s Memorandum of Articles and will allow them to carry out certain official acts and decisions on the company’s behalf. These powers may be vested Singly (ie any Single person may act) or Jointly (ie an act, or decision made on behalf of the company is only authorised if all of the joint parties agree to it). Companies with more than one Shareholder formalise their decisions by signing a Board Resolution outlining the decision.

Provide details if the role holder has

UAE Visa:


a UAE visa, including selecting “Yes” at “Holding UAE Visa”, the “Visa Type” and “Visa Expiry Date” boxes will have to be filled out.

Scroll down to “DMSL Details” and select the relevant roles by clicking on the boxes.

Tip: DMSL stands for Director Manager Secretary Legal Rep

If the Office holder is a Manager, then the section below must be completed before saving.

If not a Manager scroll down and click on Save.

If selecting “Manager”, under “Manager for”, the box called “Available License” will be automatically populated with the selected license/s. Select the relevant license and Click on “Add”.

The license will move across to the second box “Select License/Manager for”.

Click on Save.


Once all DMSL’s are added Click on “Back to Service Request”.

Finalise Company Details


None specified


None


None

Tip: Please make sure all the information is correct before clicking finalise, once clicked no further editing can be done.

Click on “Finalise”

A prompt will appear to verify all information. Once all information is confirmed, click “OK”.

Tip: This step is important because the system determines which documents are required based on your responses to the previous sections.


Another prompt will appear confirming that the Service Request has been finalized.

Click “OK”.

Progress check 30%

Required Documents


None specified


For each individual shareholder; Know Your Client form


For each individual shareholder; passport copy, visa if resident of UAE, Know Your Client form; Proof of address

For each Corporate shareholder; Parent company documents A business plan may be requested for companies performing certain

activities. If will only appear in the list if required.

The page will refresh and all the required documents will be listed for registration.

You will find them in the section called “SR Documents”.

Click on “Download/Upload/Review Doc” next to SR Documents

Tip: You will scan and upload all required documents that are listed under “SR Documents”. For example: Passport copy/copies (including Residence Visa if residing in the UAE), completed and signed KYC Forms, Proof of Physical address (utility bill / tenancy contract / title deed).


The page will update as shown.

Select “Click to View Document” for each of the documents appearing under “Generated Documents”. You will need to print out, fill in and sign each of these documents prior to scanning and uploading back into the portal. An example is shown below.

Tip: For individual shareholders, the list is shown. For subsidiary and branches companies, the list will include Parent Company documents.

Click on “Open”

Here is an example of one of the generated documents.

Tip: Certain parts of the document will be automatically populated with the information already submitted earlier.

Print out the document, fill out the required information, sign and scan it.


To upload the documents, click on Upload.

The page will appear as below.

Click on “Browse” and select the relevant document. Then click on “Open”. The document will upload. Click on Save.

Repeat this step for all documents required to upload. All uploaded documents can be reviewed and replaced if necessary. Once all required documents are uploaded, click on “Return back to SR”.

Progress Check 65% Congratulations, you have done most of the work to set up your new company. You will just need to make a payment now to submit your request.


Complete initial payment


Credit card details


None


None specified

An initial payment of AED 1,000 is mandatory to continue. The simplest payment method is by credit card into the company’s portal account, as shown below.

Other payment methods include

Account name – Dubai Multi Commodities Centre

Bank transfer

Account No - 1012116337501

Bank - Emirates NBD

Swift Code – EBILAEAD

IBAN - AE090260001012116337501

Visit DMCC Service Centre to pay by cash or cheque (cheques will need to clear before the portal balance is updated)

Cash or Cheque

The remainder of the company set up fees will be collected later.

Type in the required amount under “Enter amount to top-up your balance:” and click on “Top-up Balance”.

Tip: Please turn off Pop-Up blocker at this point.

Click on Portal Balance, NOT Visa Guarantee Balance


The page will redirect to a payment page. Click on Credit Card, select the relevant type. Tick “I accept the Terms and Conditions application for this payment”. Click on “Agree”.

The page will be redirected as follows.

Fill in the required details and click on Pay. The page will refresh as follows.


When the payment has been processed, the portal balance will change to show the payment that was made.

Click on “Submit”.

Select “Confirm”

An e-mail and SMS will be sent confirming your request. A Request number will be automatically generated and included in both the SMS and email.

A Member Services Executive will be assigned to your Application, with an email confirmation and reference number.

The MSE will contact you if we require any clarification.

Progress Check 70% We need have the information we need to complete our review.


Your Member Services Executive will contact you


If I wish to select DMCC’s insurance policy


None


None specified

Your MSE will contact you to see if you wish to select DMCC’s in-house insurance option for the mandatory 3rd party insurance. The annual fee is AED750. Or you may specify your own choice of insurance. Your Executive will confirm this and update your application. The charge for the in-house insurance which will be automatically updated on the payment portal if selected.

Once the insurance has been confirmed, payment will be required. The payment fee is automatically updated and will show under “SR Price Items (Service Request).

Make Full Payment


Credit card details


None


None specified

To make the payment, scroll up to “Steps” and click on “Go to list”

Click on the Step ID number next to Step 50.0 “Customer payment step”


The below page will appear. Click on “Confirm Payment”

The page will refresh to show the total payment due

(The total amount due may include additional fees, for example, additional activities, Third-Party NOC letters, insurance)

If the portal balance showing under “Company Overview” has enough funds available, click on “Confirm to proceed”.

If the portal balance showing under “Company Overview” is not topped up, you will have to top up the portal balance prior to confirming the payment.

To top up the portal balance, follow the payment instructions as above.

When the payment has been processed, the portal balance will change to show the payment that was made. Click on “Confirm to proceed”.


The page will refresh as below. Under “Step Status” it will say “Paid”. Click on the Service Request number

Sign Original Documents or Provide Attested/Notarised copies


None specified


Memorandum and Articles of Association (not branches) Board/Shareholder’s Resolution Specimen Signature Undertaking letter Third-Party NOC introduction letter (if required) *Note that this will

have been listed in the License activities section.


NOC from third party (if required)

Print the above documents. All Shareholders/Directors/Manager/Secretary must visit the DMCC Service Centre with their passports to sign in front of the DMCC Member Services Executive or provide notarised/attested documents.

Scroll down to “SR Documents”, where the required registration documents will be listed.


Tip: In the following section you will be uploading the required documents that are listed under “SR Documents”. For example: Undertaking Letter, Memorandum & Articles of Association for a New Company, Third Party NOC (if required).


The page will update as shown.

First go to the list under “Generated Documents”. Click on “Click to view document” relevant to document required for downloading.

For activities that require a Third-Party NOC, the Introduction Letter is generated at this stage. The letter is automatically populated with all required information. It just needs to be printed out and presented to the relevant authority who will then issue the NOC once all required information is obtained.

Tip: You will print out each document, complete the missing details and sign. You will then scan and save each document in preparation for uploading. Instructions below.

Click on “Open”

Certain parts of the document will be automatically populated with the information already submitted on Salesforce. Print out the document, fill out the rest of the required information, sign the document and scan to upload.


To upload the documents, click on upload.

The page will appear as below.


Repeat this step for all document required for uploading. All uploaded documents can be reviewed and replaced if necessary. Once all required documents are uploaded, click on “Return back to SR”.

Progress check 85%

Provisional Registration


None specified


Provisional approval letter


Bank letter (not branches)


Print the above documents

DMCC Registration team will verify that all required documents are completed and correct. Provisional approval documentation will be automatically generated for you to print from the portal.

A Sub Service Request is created at this stage. An e-mail and text notification of this Sub Service Request will be sent to you.

At this stage you will be able to view and print out the provisional approval documentation and bank letter.

On the Home Page, click on “Services Requests”

The page will redirect to the below page. Click on the SR number for “New Company Registration.


This page will appear.

Scroll down to “SR Documents” and select “Click to View Document”.

Tip: This may take a few minutes. Try refreshing the browser if “Click to View Document” is not visible.

The page will appear as below. You can now print this letter out for submission.

Progress check 90%

License requirements


At this stage you should have signed a tenancy contract or leased a flexi-desk with DMCC. On the e-mail received from DMCC, where it says “Please click on the link”, click on the number. Provided you are logged into the portal a new page opens. Click on “Add Lease”.

If leasing from DMCC

You will need to login and go to Service Requests and select the Enter License Address request.

If not leasing from DMCC

The page refreshes as below. Click on the drop down arrow and select “No”.

The page will refresh as below

Click on the drop down menu next to Available Buildings. Select the building as per your tenancy contract.


The page will refresh as below. Select the relevant floor, as per tenancy contract.

The page will refresh as below. Tick on the relevant office and click on “Select Office”.

The page will update as below. Tick the block and click on “Save”.

The page will update as below. Click on “Back to Service Request”.

The page will return to the SR. Scroll down to “SR Documents”, all documents required for uploading will appear under “SR Documents”. Click on “Download/Upload/Review Doc” next to SR Documents


The page will update as below. To upload the documents, click on upload.

The page will appear as shown.

Click on “Browse” and select the relevant document. Then click on “Open”. The document will upload. Click on Save

Repeat this step for all document required for uploading. All uploaded documents can be reviewed and replaced if necessary. Once all required documents are uploaded, click on “Return back to SR”.

The DMCC Licensing Department will verify and approve your license application.

Scroll down to “SR Documents”. Upload and then scan all required licensing documents that are listed under “SR Documents”. For example: Auditor Appointment Confirmation, Drawings (Fitout), Fit out Completion Certificate, PSA (Personnel Secondment Agreement).



The page will update as below. For all documents appearing under “Generated Documents”, you will be required to print, fill out and sign the document prior to scanning and uploading.

Click on “Click to view document” relevant to document required for downloading.

Certain parts of the document will be automatically populated with the information already submitted on Salesforce. Print out the document, fill out the rest of the required information if required, sign the document and scan it.

To upload the documents, click on upload.


This page will appear as shown.


Repeat this step for all documents required for uploading. All uploaded documents can be reviewed and replaced if necessary. Once all required documents are uploaded, click on “Return back to SR”.

The page refreshes. Scroll down to “Steps” and click on “Go to list”


The page will update to show a list of steps relevant to the SR number. Client will click on the “Step Id” next to Step No 80.0

The below page will appear. Click on “Change” under “Step Transition”.

Tip: This tells our team that your company is ready to be finalised

The page will open up as below. Select “Closed” and click on “Proceed to Save”


The page will refresh. Click on the SR number next to “Service Request”.

The page will return to the original SR page. At this stage the DMCC Document Controllers will scan all documents. Once this is complete, the SR will be closed.

To check if the SR is closed. Click on “Service Requests” next to “Home”.

Progress check 100%

Congratulations on opening a company with DMCC. We wish you great success, and look forward to serving you well.

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