Dubai International Financial Centre (DIFC)

Dubai International Financial Centre is a world-class financial hub in the Middle East, Africa, and South Asia (MEASA) region. Established in 2004, it offers a unique environment with its own laws, regulations, courts, and arbitration facilities.

Dubai International Financial Centre (DIFC)

Dubai International Financial Centre is a world-class financial hub in the Middle East, Africa, and South Asia (MEASA) region. Established in 2004, it offers a unique environment with its own laws, regulations, courts, and arbitration facilities.

DIFC’s Focus:

Institutional Investors: DIFC primarily caters to institutional investors, focusing on sectors like banking, capital markets, asset management, insurance, Islamic finance, and business processing operations.

Retail Clients: Serving retail clients is not the primary focus of DIFC.

Key Advantages of Setting Up in DIFC:

• 100% Foreign Ownership: Full ownership is allowed for foreign companies.
• Zero Taxes: No corporate or income taxes are levied.
• Repatriation Freedom: Profits and capital can be freely repatriated.
• Modern Infrastructure: DIFC offers a state-of-the-art business environment.
• Skilled Workforce: Access to a pool of talented professionals.
• Independent Regulator: The Dubai Financial Services Authority (DFSA) provides a robust regulatory framework.
• US dollar-dominated environment: Conducive for international financial transactions.

Setting Up a Business in DIFC:

Individuals, entrepreneurs, and businesses seeking to establish operations in DIFC must apply to the DFSA. The process involves several stages:

Initial Meeting: Discuss your business plan with DIFC representatives.

Letter of Intent: Submit a formal letter expressing your interest.

Business Plan and Documentation: Prepare a detailed business plan, financial projections, and compliance manual.

Draft Submission: Submit the draft documents to DIFC for review.

Finalization: Complete application forms, policies, and procedures.

Fee Payment: Pay the required DFSA fees.

Formal Submission: Submit the final application to DFSA and meet with their representatives.

Initial Approval: Receive in-principle approval from DFSA.

ROC Registration: Register your company with the Registrar of Companies (ROC).

Legal Documents and Bank Account: Submit legal documents to ROC and open a bank account.

Commercial License: Receive your commercial license from ROC.

Share Certificate and Press Release: DFSA will issue a share certificate and release a press statement.

By following these steps and leveraging the advantages offered by DIFC, you can successfully establish your business in this thriving financial hub.

Why seek professional help when establishing your business in DIFC?

By hiring a professional business setup consultant in Dubai, you can benefit from their expertise, save time and effort, mitigate risks, expand your network, and gain peace of mind. Their guidance will ensure a smooth and successful process, allowing you to focus on growing your business.