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Dubai International Financial Centre (DIFC) Free Zone Business Set up
Welcome to Dubai International Financial Centre (DIFC), the leading Financial hub for the MEASA – Middle East, Africa and South Asia, and a future-forward zone that is all set to boom your business.
- Office no: 1006, Al Musalla Business Tower, Bur Dubai, Dubai, UAE
All about Dubai International Financial Centre (DIFC) & why you should know about it
What is the key factor about Dubai International Financial Centre (DIFC) that makes it special? The answer lies in the integral role it plays in building Dubai’s economic growth. DIFC provides a world-class business infrastructure that is secure and efficient to support financial companies establish their presence in the local UAE market and globally as well.
Several renowned financial and business institutions of the UAE are also situated in its premises.
What does Dubai International Financial Centre do? It offers and equips financial services companies with an ecosystem similar to that found in world’s most successful financial brand names. Six of the world’s top 10 global law firms, twenty one of top 25 banks in the world and six of the ten largest insurance companies globally are some of the few clients.
From providing an independent regulator to support services and futuristic architecture & infrastructure (including art galleries, cafes, residential apartments, retail outlets, etc.), they are on the run to set up a thriving & vibrant business community thus promoting company formation in DIFC.
Without a doubt, DIFC has bagged the title of largest cluster for international services between Europe & Singapore, to date.
DIFC’s 15-year track record of aiding trade & investment flows across the Middle East, Africa and South Asia regions has helped in connecting their markets with that of Asia, America & Europe, through Dubai. What’s even more exciting is the fact that Dubai being the host for Expo 2020 will see various inspiring minds, organizations and communities come together to offer programmes and partnership for funding, supporting & providing exposure for those who wish to contribute to the society.
Expo 2020 Dubai could be your ticket to success whilst your company expands its roots in DIFC.
DIFC company formation
DIFC businesses are regulated by an independent risk-based authority called The Dubai Financial Services Authority (DFSA).
This body is responsible for issuing licenses for DIFC company formation and it also regulates the banking & financial institutions in DIFC.
It has the region’s only English-language common law courts and these DIFC courts address all commercial and civil disputes arising within its area.
With over 1,900 companies registered with 18,900 plus workforce this free zone has been a topic of discussion for business aspirants.
DIFC business setup comes with plenty of benefits and here are a few:
- Complete profit repatriation
- Independent regulatory environment
- 100% expat ownership
- Common law framework consistent with that of the English Law
- Transparent working environment
- Follows Hub & Spoke Model - open branches without any geographical restrictions globally
- Presence of an International Stock Exchange with a plethora of financial instruments for investment
- Premium class lifestyle with residential apartments, transportation, technology infrastructure, etc.
Who should be thinking about DIFC Dubai company formation
DIFC Corporate Entities
At DIFC, there are four types of corporate entities followed and allowed:
With two DIFC license categories available, licenses are issued based on the company’s DIFC activity list. The main currency used for transactions in DIFC is a US dollar and therefore, all the charges including DIFC company formation cost, DIFC license cost and registration fees will have to be settled off in dollars.
Types of Business Licenses
1.Managed license
This license is offered to those business activities linked with finance & banking services.
2.Non-managed license
As the name suggests, this license is provided to those business activities without any link to finance & banking services. For eg., wellness exercise, cafe & restaurants, salons, tailors, etc.
Documents required for DIFC company formation
- Proof of business activities approved
- Proof of trade name reservation
- Copies of the shareholder’s passport
- Copies of the manager’s profile & passport
- Business plan & activity (in detail)
- An information sheet for each shareholder and manager with their personal profile
- Organizational structure, operation process, IT support system
- Company’s internal audit & compliance system
- Anti-money laundering procedures
- Shareholders’ property details to check the propriety to conduct business
- Information about key shareholders & employees
- Lease agreement contract with physical address & office location mentioned in it
- Any third party approval for business activities (if applicable)
DIFC free zone business setup in 5 steps
- Submit duly filled application form
- Once approved, proceed to registration process
- Submit all documents. It is important to attach a proof of the business’s minimum share capital
- Open a bank account exclusively for the company
- Review the documents. Once approved, certificate of incorporation will be issued
How To Set Up Business In DIFC Free Zone?
DIFC Free Zone Location
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Want to complete the steps for company registration in Dubai’s prime finance hub?
Want to complete the steps for company registration in Dubai’s prime finance hub? Thinking of getting an e-commerce license in DIFC? Well, you are at the right place! Our exclusive packages and services are designed to meet each investor’s requirements and hold their hands through the A to Z of incorporating their company.
Get in touch with us and let us help you with DIFC company formation process & its guidelines, effortlessly and quickly.
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Address
We are Happy to Help You!
- Office no: 1006, Al Musalla Business Tower, Bur Dubai, Dubai, UAE
- +971 52 330 9846
- [email protected]