- Increased flexibility around a company’s Articles of Association;
- Introduction of different share types
- Allowing businesses to tailor the structure of shareholdings
- Introduction of new dormant status
- An increased ability to transfer company incorporation into DMCC.
Dubai Multi Commodities Centre (DMCC) – the region’s leading trade hub– has announced a set of new rules and regulations effective from 2nd January, 2020 which aims to further increase the ease of doing business for new and existing DMCC member companies.The new regulations were developed following extensive data gathering and stakeholder engagement along with the consultation of three of the world’s top law firms. The new regulations will update the DMCC’s existing company law framework in line with international best practices to ensure DMCC retains its competitive edge in the region.The new regulations will enhance ease of operations and provide greater flexibility for the businesses registered within DMCC and increasing the remit of their activities. The new regulations also make it easier to set up a company in the region’s leading trade hub. Key enhancements to the existing framework include: