The Dubai Multi Commodities Centre (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:
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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
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DMCC 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
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Facilities:
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.
Key Benefits
- 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:
Activities
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:
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High tech, secure vault facilities
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Assaying facilities
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Settlement
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Package delivery
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Shipment facilities
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Preferential rates - bullion freight
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A purpose-built Jewellery and Gemplex
to facilitate the manufacture of precious metal jewellery
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A commercial tower to house
wholesale, trading and banking operations
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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:
Activities
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.
Commodities:
Activities
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.
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