Dubai’s DMCC Offers 50% Discount For Business Set-up Fees For Diamond-Related Companies.

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The newly registered companies will be offered a free 12-month membership of the Dubai Diamond Exchange as well.

LLC Company Formation in Dubai - LLC Company setup in Dubai

As announced on August 1, effective immediately and valid until September 30, 2020, DMCC Free Zone offers 50% discount for business set-up fees for diamond-related companies. 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.

 

To mark the launch of the new campaign to spur the diamond trade in Dubai, DMCC also lit up Burj Khalifa with visuals depicting Dubai’s connection with the precious stone.

 

The industry has been steadily growing throughout decades and as it was officially stated by DMCC, the plan is to help Dubai become a leading international trade hub for Laboratory Grown Diamonds (LGD) and coloured stones. In 2003, the total value of rough and polished diamonds traded in the emirate was Dhs13.2bn. By 2018, that figure has risen nearly 600% to Dhs91.8bn. Dubai’s highest traded commodity by value in 2019 was gold, jewellery and diamonds, which accounted for Dhs370bn, up 7% over 2018. In 2019 the emirate’s diamond trade alone accounted for Dhs83.9bn.

 

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