Dubai Multi Commodities Centre has announced the opening of a representative office in Dusseldorf, Germany
Dubai Multi Commodities Centre (DMCC), which was named global free zone of the year last year, has announced the opening of a representative office in Dusseldorf, Germany.
Operated by the German Arabian Advisory, the opening of the office in one of Germany’s economic and trade centres brings DMCC to the doorstep of European clients.
It will offer businesses a simpler route to company formation without the requirement of travel to Dubai, a statement said.
The opening comes as Germany is the fourth largest exporter to the UAE, has more than 900 companies registered and has 100,000 residents in the country.
In 2017, the total value of non-oil trade between Dubai and Germany reached $11 billion.
Services on offer in Dusseldorf include consulting and execution of free zone company formation in DMCC, preparation of documents and power of attorney, visa application, assistance with annual financial audit and advice on serviced offices in the Jumeirah Lakes Towers (JLT) district.
The move is part of DMCC's plan to take advantage of growing appetite shown by German and European companies to explore closer trade ties with Dubai.
Felix Neugart, CEO at the German Emirati Joint Council for Industry & Commerce (AHK), said: "Over the years, we have built a strong connection between the business communities of Germany and the UAE. Free zones, especially in Dubai, play a key role in attracting international companies to the UAE. The opening of a DMCC representative office in Duesseldorf is a further step to facilitate the contact between German business and the DMCC with its international business community.”
Björn Lakebrink, director business development, German Arabian Advisory, added: “Opening a representative office in Dusseldorf shows real commitment and intent by DMCC to Germany and its business community.
"The new office will boost trade and investment links between local German businesses and Dubai, and our exclusive services will enable companies to become members and tap into the vast trading opportunities without having to leave Germany.”
DMCC and German Arabian Advisory signed a memorandum of understanding (MoU) in mid-2016 to jointly explore the establishment of an advisory service in Düsseldorf as part of DMCC’s effort to attract German companies to establish a presence in Dubai and strengthen ties between the two cities.
In 2017, DMCC was named Global Free Zone of the Year for a third consecutive year by the Financial Times’ fDi Magazine.