Dubai International Financial Centre (DIFC)
Dubai International Financial Centre (DIFC) is an onshore financial centre located between the East and West in a strategic destination. Thereby, DIFC provides a proficient platform for businesses and financial institutions to reach the developing business markets of the region.
Independent regulation, supportive infrastructure, common law framework, and its tax-friendly environment are the advantages of the DIFC region. Owing to the rapidly growing demand for financial and business services, DIFC fills the gap with its amazing features and regulations. DIFC plays a prime role with its core values of integrity, transparency, and efficiency.
Key highlights of DIFC
World Class Regulatory Environment
At the heart of the Dubai International Financial Centre (DIFC) lies the Dubai Financial Services Authority (DFSA) which issues licenses and regulates all the banking & financial activities. The DFSA plays a major role in offering financial companies which in turn provides a stable, sound, secure, and growth-oriented platform for their business.
Unique Legal Framework
Dubai International Financial Centre (DIFC) has a unique legislative system per English Common law. With its own set of commercial laws and regulations, DIFC has formed an independent judicial system. Dubai International Financial Centre (DIFC) Court is in charge of the independent administration and justice enforcement. DIFC Court has exclusive jurisdiction over all commercial and civil disputes arising within DIFC.
Major Advantages of DIFC
- Independent Regulatory Environment
- 100% Ownership
- Hub & Spoke Model
- Common-Law Framework
- No Restriction On Capital Repatriation
- Tax Efficiencies
Dubai International Financial Centre (DIFC) acts as a point of contact for end-to-end servicing of clients. The entire process is streamlined to set up and operate smoothly within the Centre. With the best client-servicing model, DIFC is equipped enough to offer services including registration, incorporation, licensing, leasing, employee sponsorship, property ownership, assistance regarding issues, and induction.
From the inside out, Standard Auditing can offer the best services to set up a business at DIFC, UAE. If you want guidance or assistance, contact us right away!
DIFC Business Setup – License Types
There are license categories that foreign investors can choose from to open up a business in DIFC
1. Non-Regulated License
Non-regulated DIFC license is for the businesses that are not related to Banking and Finance business registration. Some of the examples are personal services such as tailors, retail shops like electronics and apparel, and a lot of restaurants and cafes.
2. Regulated License
A regulated license is for the business that deals with Banking & Finance activities supported by a financial regulatory ecosystem.
Business Registration Requirements
- To set up a business in DIFC, a firm has to possess the following documents
- Company Registration Application Form
- A thorough Business Plan may indicate the company’s value
- The next 3 years’ Financial projection
- The record of Annual accounts (2 years).
- Bio of Management team and passport copies.
The business entities unit will review the above requirements and then comes the Registration Review Committee to check and approve. The final decision is made considering the following criteria
- Financial wherewithal
- Business Risk
- Centre/Cluster Building
- Employee Suitability
- Contribution to Dubai GDP
- Business Implementation
Standard Auditing can assist in business setup in DIFC Zone. Standard Auditing specializes in handling the entire process from beginning to end to avoid hassles anywhere.