Dubai’s DMCC cuts business registration fees for diamond companies by 50%

Dubai’s DMCC cuts business registration fees for diamond companies by 50%

The Dubai Multi Commodities Centre (DMCC) free zone has slashed its business set-up fees by 50 per cent for all diamond-related companies.

The measures were announced on August 1, effective immediately and valid until September 30, 2020, as part of a new campaign to attract diamond companies to the emirate, said a statement by the Dubai Media Office.

Also, DMCC will offer a free 12-month membership of the Dubai Diamond Exchange (DDE), a community of over 1,000 diamond companies in Dubai, to diamond firms that register in the free zone.

"Right across the supply chain, the diamond industry is passing through a period of turbulence. For many, the change that will follow is seen as an unpredictable threat. But for Dubai, it is an opportunity,“ said Ahmed Bin Sulayem, executive chairman and CEO of DMCC.

.@DMCCAuthority: new company registrations will be offered a free 12-month membership of the #Dubai Diamond Exchange (DDE) - a community of over 1000 leading diamond companies in Dubai.https://t.co/SDtT7C5qXH pic.twitter.com/nZ38jA2dqn

“” Dubai Media Office (@DXBMediaOffice) August 1, 2020

"By reducing the cost of setting up in DMCC by record levels, we hope to remove barriers to entry and supply the type of support required by business during challenging times,“ added Ahmed Bin