Companies based in the Dubai Freezone are gradually updating their official company names. The suffix “DMCC” is being phased out and replaced with “FZCO.” This is an important change that may impact rough diamond shipments from Antwerp to Dubai.
This transition is taking place over a period of 18 months. Currently, the change applies only to companies that have actively requested it, but eventually, all companies in the Freezone will use the “FZCO” suffix.
Why is this important?
When issuing a Kimberley Process Certificate (KP-certificate), the name of the recipient in Dubai must be included. If this name is outdated or incorrect (e.g. still using “DMCC” instead of “FZCO”), it may result in serious issues upon import into the UAE, such as:
- Shipment being blocked
- Mandatory issuance of a new KP-certificate
(Note: corrections to an already issued KP-certificate via email confirmation are not accepted by the UAE KP authority.)
What should Antwerp diamond companies do?
Before issuing your invoice, check whether the recipient’s company name in Dubai still uses the “DMCC” suffix. If it does, we strongly recommend verifying with your client whether this is still correct or if it has already changed to “FZCO.”
Only use the accurate and up-to-date company name on your invoice.
In summary:
- The suffix “DMCC” is being fully replaced by “FZCO.”
- Applying this change to KP-certificates is crucial for the smooth processing of rough diamond shipments in Dubai.
- Incorrect company names on the export invoice and KP-certificate can block your shipment and require a new KP-certificate to be issued.
