(DMCC) is a strategic initiative of the Dubai government created to establish a commodity market place in Dubai. Rated ‘A’ by Standard & Poor’s, it provides industry-specific market infrastructure and a full range of facilities for the gold & precious metals, diamonds & coloured stones, energy and other commodities industries.
DMCC is also a free zone authority offering 100% business ownership, a guaranteed 50 year tax holiday and freehold property options.
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, Energy and Other Commodities industries.
The objectives of this progressive Centre include:
• Creation of a dedicated market place in Dubai
• Increase the value and volume of commodities traded in and through the region
• Facilitation and integration of the entire value chain of its key segments
• Broaden the local market horizon e.g. Refining – Manufacturing – Trade
• Create industry specific market infrastructure for its core segments, innovate new products and services
• Provide a supportive business environment through purpose-built infrastructure
• Promote regional industry growth
• Enhance local industry through implementation of international standards
DMCC is a free zone authority offering market participants of the commodities industry and support services invaluable business incentives, including:
• 100% business ownership
• A guaranteed 50-year tax holiday on personal and income taxes
• Purpose-built infrastructure available on a freehold or leasehold option
• A one stop shop facility for processing of all documentation including immigration, registration and licensing
DMCC’s 200-hectare development will include the Almas Tower (meaning Diamond in Arabic), the AU Tower and the Ag 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, renewal of residence permits and issuance of visas, traffic affairs, and vehicle registration through DMCC itself.
• Unique World wide centre Industry Clustering
• 100% Business Ownership
• Purpose built infrastructure
• Ability to purchase premises
• World class security systems
• Single Window Clearances (incl. Licensing, Immigration, etc)
• Preferential freight rates
• Guaranteed 50 year tax holiday on personal and income taxes
• Regulated environment
• No foreign exchange controls or barriers to entry No restrictions on capital repatriation
Gold & Precious Metals
Throughout history Dubai has played a significant role in the global gold market and is now a bullion centre of international significance.
Popularly known as the ‘City of Gold’, Dubai is ideally located amidst a large consumer market, and uniquely positioned to channel gold from the international market to its ultimate destination.
The Dubai Multi Commodities Centre will integrate the refining, manufacturing and trading of gold, as well as introduce the trading of other precious metals such as platinum, palladium and silver.
DMCC’s aim is to facilitate the development and expansion of the local and regional precious metals market. The Centre is working with partners both regionally and internationally to promote the highest global standards in product and service development, while simultaneously encouraging greater transparency to the benefit of all market participants.
DMCC’s planned market infrastructure developments will strengthen Dubai’s position as the leading regional centre for precious metals. Facilities will include:
• High tech, secure vault facilities
• Assaying facilities
• Package delivery
• Shipment facilities
• Preferential rates – bullion freight
• A purpose-built Jewellery and Gemplex to facilitate the manufacture of precious metal jewellery
• A commercial tower to house wholesale, trading and banking operations
DMCC will create a level playing field for all participants of the gold industry by introducing transparent and fair rules for business conduct. 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.
Dubai already has an impressive history in the gold market, but the future is even more exciting.
Diamonds and Coloured Stone
Dubai is set to join leading international diamond centres including Antwerp, New York and Mumbai. The Diamond division within DMCC is aiming to establish Dubai as a diamond trading and value-adding centre of global significance. DMCC has been instrumental in implementing the Kimberley Process Certification Scheme (KPCS) in the United Arab Emirates as part of its endeavour to streamline the trade with global standards and protecting the legitimate diamond industry. The UAE is proudly the first Arab country to implement KPCS.
The launch of the Dubai Diamond Exchange, facilitating the trade of rough and polished diamonds, is set to provide a major impetus to the diamond industry in the region.
The Centre will accommodate every facet of the business – manufacturing, trade, education, certification and technology. Alliances with other players in the trade such as finance organizations, government institutions, etc, will promote complete growth of the industry. The DMCC facilities will also include bringing the best of educational institutions to Dubai, to make the latest in technology and processes available to the local and regional market.
Housed in the purpose-built landmark Almas Tower (Almas means ‘diamond’ in Arabic), Dubai’s diamond community is set to sparkle more brightly than ever.
Dubai has become the first dedicated commodities centre in the time zone between Europe and the Far East. Located at the crossroads of trade flows between the Arabian Peninsula, Iran, India and Africa, Dubai has been a regional commodity-trading centre throughout its history. This tradition is today reinforced by Dubai’s outstanding port facilities and its emerging status as a modern financial centre.
Not only will the Dubai base supply the local market, it will act as a trans-shipment and staging point for the Middle East and beyond.
Through development of the industry specific market infrastructure, DMCC will increase the value and volume of traded commodities in and through Dubai. The Dubai Multi Commodities Centre (DMCC) is building on these natural strengths to reinforce Dubai’s position as a regional hub for the trading of commodities.
DMCC is developing value-added services and promoting new sources of finance in line with the needs of the growing market and its participants. The provision of ancillary services such as; commodity finance, insurance and price risk management facilities are just some of the initiatives within the scope of DMCC’s projects.
DMCC’s continues to identify opportunities where it can add value to the operations of commodity traders and processors. It has already announced significant initiatives in relation to commodity warehouse receipts (applicable to commodities generally, rather than to specific products), and tea. Looking forward DMCC has under active consideration a range of projects relating to specific commodities ranging from metals to soft commodities to energy products.