DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, announced the official opening of its representative office operated by the German Arabian Advisory GmbH in Düsseldorf, Germany.
Opening a representative office in one of Germany’s economic and trade centres, brings DMCC to the doorstep of European clients, and will offer businesses a simpler route to company formation without the requirement of travel to Dubai.
Services on offer in Düsseldorf 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. Düsseldorf – which is only a short train journey from London, Paris, and Berlin – also provides quick and easy access to Dubai for clients based in Europe, with direct air service through Emirates Airline.
Speaking in Düsseldorf, the Executive Chairman of DMCC, Ahmed Bin Sulayem expressed the growing appetite shown by German and European companies to explore closer trade ties with Dubai, and understand how to utilise the free zone’s strong commodity connections and trade routes to push into China and Africa:
“With a representative office in Düsseldorf, DMCC is able to work closer with German and European businesses, and expedite the process of setting up a company in Dubai. As a free zone operating in a progressive economy with business-friendly policies, DMCC provides all the required services and offerings required to deliver long-term commercial growth. We are also situated in the heart of a vibrant commercial and residential district – the perfect platform for businesses looking to connect with trade partners and customers across the region and beyond.”
The Düsseldorf office opening was marked by an official ceremony and concluded DMCC’s latest Made for Trade Live international roadshow event, which toured business communities across Germany in August including the cities of Braunschweig, Darmstadt and Bielefeld. The German roadshow was co-hosted by the German Chamber of Commerce, and sought to showcase the ease of partnering with DMCC to grow foreign businesses in Dubai and beyond.
Commenting on the office-opening event, 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 Düsseldorf 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 GmbH, also commented:
“Opening a representative office in Düsseldorf 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. It also allows us to interact more closely with potential clients and highlight the trade potential on offer in Dubai and beyond through DMCC.”
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.
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 (AED 40 billion). The top German export to the UAE is automotive (cars, vehicles and parts), which has a combined export value of circa. AED 28 billion. The top UAE export to Germany is raw aluminium, which is valued at approximately circa. AED 1.80 billion.
In 2017, DMCC was named Global Free Zone of the Year for a record third consecutive year by the Financial Times’ fDi Magazine.