The Dubai Multi Commodities Centre (DMCC) is intended, as a strategic initiative with the Dubai government, to establish a commodity market set in Dubai, by providing the industry-specific market infrastructure and comprehensive facilities for its gold
Standard s, the world’s foremost provider of independent credit ratings has rated DMCC as ‘A’. DMCC functions as a no cost zone authority offering many financial incentives toward the investors like 100% business ownership, a guaranteed 50 year tax holiday and freehold property options
The objectives of DMCC are creation of a devoted market set in Dubai and increase the volume and value of commodities traded by the region. DMCC also facilitates a built-in value chain of its key segments. DMCC creates highly customized and market specific infrastructure for its core segments. Constant innovation of the latest products or services is a hallmark of DMCC.
The commodities market in DMCC handles gold and precious plastics, petrochemicals, energy, metals, steel, gems, base metals, tea and cotton.
Dubai is known as the “City of Gold” and has gained prominence as a prominent global business hub in the Middle East. Dubai has been making significant contributions on the global commodities and gold market.
DMCC strives to generate a level playing field for any of participants by introducing fair and transparent rules for every day business operations. DMCC has additionally achieved the integration belonging to the complete value chain for trading and distribution of gold and commodities for the U.A.E.
To facilitate the growth and development regarding the gold and commodities industry, DMCC introduced the worldwide Multi Commodities Receipt (GMR), an innovative tool of accessing trade financing.
GMR functions as a digital warehouse and vault receipt system, providing the members with real-time access to the many commodities. The commodities are classified into raw, semi-finished or finished products.
These must be trapped in a DMCC approved storage facility for this respective commodity. An approved storage facility operator or collateral manager can issue a GMR once he receives a deposit by a trader/business entity. GMRs are negotiable instruments and they can be transferred to a different trader. They’re able to additionally be pledged and endorsed by means of security in order to obtain financing.
A participating financier may request the testing with the commodity this is the subject with the GMR. This request are going to be closed only right after the tester is totally happy. The GMR system provides a secure electronic platform for conducting their trade finance activities. All activities undertaken along the GMR system will attract DMCC legal framework.
The Global Multi Commodity Receipt product suite is constructed of the Dubai Commodity Receipt (DCR), the International Commodity Receipt (ICR) and the Dubai Gold Receipt (DGR).
The DCR covers storage of products inside the UAE in addition to the ICR covers goods kept in selected global locations.
Advantages in Dubai Multi Commodities Centre
DMCC supports excellent business environment and promotes local growth by utilization of international standards. DMCC is a totally free zone authority offering invaluable business incentives to their investors which includes 100% business ownership, an ensured 50-year tax holiday and custom-built infrastructure available on leasehold or freehold option.
DMCC is a single stop shop facility for processing of all of the documentation including immigration, registration and licensing; during the set up phase of the new company.