Dubai’s DMCC registered 2,025 companies in 2020

Dubai’s DMCC registered 2,025 companies in 2020

A record 2,025 companies set up base in Dubai freezone DMCC in 2020. It is the highest annual number of new registrations within the last five years in the freezone.

It marks a nearly 3 per cent rise in the number of companies which registered in DMCC in 2019, which stood at 1,969.

Read: Dubai's DMCC opens representative office in Shenzhen, China

In March 2020, DMCC launched a Business Support Package which included incentives such as a 30 per cent discount on licence renewal, a waiver for late licence renewal penalties, and an 80 per cent reduction on the total company set up fee if shareholders are residents of JLT, among others.

Read also: Covid-19: Dubai free zones offer stimulus package with rents postponed, fines cancelled

It was its largest ever commercial offer and was made available to both existing and new companies seeking to establish themselves in the freezone.

.@DMCCAuthority records strongest performance in 5 years attracting 2025 companies to #Dubai https://t.co/qqbTL5Pljg pic.twitter.com/O285UFzoYY

“” Dubai Media Office (@DXBMediaOffice) January 4, 2021

Over 8,000 member companies availed over 13,000 offers and incentives granted throughout 2020, reported the Dubai Media office.

Reportedly, 95 percent of new companies in DMCC initiate their interaction with the freezone digitally. DMCC has seen