These improvements focus on streamlining procedures, increasing efficiency, and providing a more supportive environment for businesses to set up, operate, and thrive within DMCC community.
SUMMARY OF KEY UPDATES:
Flexible bank account options
New companies can now choose to open bank accounts either within the UAE or internationally, offering greater flexibility in managing finances.
Diverse currency accounts
Clients can now open bank accounts in multiple currencies, expanding beyond the previous requirement of United Arab Emirates Dirhams.
Direct capital deposit
To simplify the bank account opening process and reduce complications, DMCC now allows clients to deposit their share capital directly through their DMCC Member Portal account, minimising potential delays.
Revised AOA template
The Articles of Association (AOA) template has been updated to include new definitions in the Glossary section, ensuring clarity and alignment with the latest regulations.
Lowered officer age requirement
The minimum age for appointing officers has been adjusted from 21 to 18 years, facilitating greater participation from young entrepreneurs in leadership roles.