1. Dubai Multi Commodities Centre (DMCC) shall offer a discounted package (the Offer), subject to these Terms and Conditions, to an individual or company that submits an application to DMCC to set up a New Company or Branch Company at the DMCC Free Zone (Applicant).
2. The Offer shall be a discount fee of AED 11,000 for the first year payable to DMCC by the Applicant (The Discount), pursuant to the process as more particularly described at clause 3 in order to complete the application for the Offer (Application).
3. The process of completing the Application includes:
(a) submission of online initial application (Initial Application), payment of application initial fee and signature of these Terms and Conditions (First Stage);
(b) payment of the remaining balance of the Offer (execution of the Memorandum of Association and Articles of Association and any other documentation required by DMCC (Second Stage);
(c) provision of all necessary documentation in respect of an Application (Third Stage); and
(d) issuance by DMCC of the DMCC license and all documentation in respect of an Application,
(the Process).
4. The First Stage and the Third Stage are subject to DMCC’s approval which will be given in DMCC’s sole discretion.
5. The Second Stage must be completed within a period of 90 days of completion of the First Stage and the Third Stage must be completed within 90 days of completion of the Second Stage (each a Validity Period).
6. Failure to complete all relevant procedures, registration and licensing requirements, and any other formalities that DMCC may require during a Validity Period will result in the Offer being withdrawn. If the Offer is withdrawn the Applicant shall pay the fees applicable at that time to proceed with the Application.
7. Upon completion of the Process, the Applicant will receive one DMCC license, which will be valid for a period of one year from the date of issuance by DMCC (the Term).
8. The Offer shall include the following:
New Company Setup:
the application fee of AED 1,015;
the registration fee of AED 20; (Discounted amount: AED 9,000)
the license fee of AED 20,285;
fees for Memorandum of Association and Articles of Association of AED 20; (Discounted amount: AED 2,000)
fees for any establishment cards of AED 1800;
The Offer Fee excludes:
(a) any additional charges relating to:
i. any additional costs that may incur as a result of additional license and/or additional costs of activities within a license as a result of making an application
ii. any property fees including but not limited to renting or buying an office, flexi desk, serviced office or physical office;
iii. residency visas; and
iv. any additional services which the Applicant may incur as a result of making an Application.
9. The Offer shall be offered to any Applicant which:
(a) Completes the First Stage between the 17th of May 2018 up to and including the 21st of June 2018 (the Offer Period);
(b) Satisfies DMCC’s eligibility criteria, in force from time to time, for the establishment of a DMCC company.
10. This Offer is not available to:
(a) existing DMCC companies who wish to renew their DMCC license;
(b) existing DMCC companies who wish to alter their DMCC license; or
(c) Applicants who wish to take additional activities for their companies which are from a different activity group or subgroup.
11. The Application shall be completed within 10 months from the first day of the Offer Period.
12. The Offer Fee is non-refundable and non-transferable, under any circumstances.
13. The Offer is subject to availability, non-exchangeable, non-transferable and non-negotiable, under any circumstances.
14. The Applicant may not transfer or assign any of its rights or obligations under the Agreement to any other company unless otherwise agreed by DMCC, in writing and in advance.
15. All Applications are subject to DMCC management review and approval. DMCC shall have absolute discretion in its approval of any Applicants and Applications.
16. DMCC, in its sole discretion, reserves the right to hold void, restrict, cancel, suspend, review or amend the Offer where it becomes necessary to do so.
17. These Terms and Conditions are governed by the laws of the Emirate of Dubai as such laws apply in the United Arab Emirates and the Applicants agree that any dispute arising out of or in relation to these terms and conditions will be subject to the exclusive jurisdiction of the Dubai courts.
By signing these Terms and Conditions you agree to be bound by these Terms and Conditions.
Name & Signature: