Dubai International Financial Centre
The Dubai International Financial Centre (DIFC) is the only free zone in the United Arab Emirates and the world’s first fully operational financial zone, according to the Dubai Government. Established in 1990, the Dubai International Financial Centre operates under its judicial system and is exempt from both civil and commercial laws.
The purpose of the Dubai Financial Centre (DIFC) is to support the growth of financial services in the rapidly expanding economies of the United Arab Emirates. It seeks to offer a safe foundation for companies to grow in the Middle East and other international markets, together with a reputable business and legal environment, first-rate infrastructure, and a stable economic climate.
The licensing fee for the Dubai International Financial Centre (DIFC) can start at approximately USD 15,000, but it also varies based on other factors including your location, the nature of your business, the size of your firm, your operational expenses, and the package you choose when forming your company.
Advantages of Setting up Business in DIFC
The Dubai International Financial Centers can accommodate any expansion need of a business. Apart from fulfilling a business’s expansion needs, the Dubai International Financial Centers provide investors with the following advantages –
- An independent legal system
- A 0% tax rate on earnings and revenue
- The whole foreign ownership of the business
- Exchange restrictions do not exist (free capital convertibility)
- Using a single platform, access to local wealth and investment opportunities
- An updated infrastructure for communications, transportation, and the internet
- a variety of double taxation agreements that firms with UAE incorporation might utilise
Procedure to Set Up Business in DIFC
The following actions are necessary for starting a business at Dubai International –
- Choose a name for your firm.
- Get a license by consulting the DIFC List.
- Contracts can be leased from authorized parties.
- Send the necessary trade license application to DIFC in Dubai.
- Remit the payment and turn in the necessary paperwork.
- All shareholders must sign and attest to the leasing agreement, the memorandum of association (MoA), and the articles of association (AoA).
- After that, the UAE Residence Visa can be acquired.
Note: It is necessary to open a bank account after obtaining the license.
Choose AIMS UAE for Business Set Up in DIFC
The Dubai International Financial Centre (DIFC) presents exceptional chances for corporate expansion and innovation. The Alternative Investment Management Association (AIMA), a global network of more than 2,100 corporate members that oversee assets worth over $2.5 trillion, and DIFC recently partnered. Through this partnership, the alternative investment sector hopes to draw in top-tier hedge funds and alternative investment businesses and build a strong, highly interconnected ecosystem. This is a significant step for Dubai and the DIFC, enhancing its standing as a major international financial centre.
Choosing AIMS UAE for the establishment of your company in the Dubai International Financial Centre (DIFC) is a choice that ensures all-encompassing, effective, and seamless assistance. Our team possesses extensive knowledge of the strategic positioning and regulatory framework of the DIFC, enabling us to offer professional advice customised to meet your unique business requirements. To maximise your operational efficiency and profitability, our advisors can help you develop a new company or grow an existing one.
Frequently Asked Question
An entity must have a minimum share capital of AED 1,000 (1 share of AED 1,000/each) to establish a DIFC firm. However, establishing a branch company in the DIFC is not subject to a minimum share capital requirement.
Regulations inside the DIFC stipulate that a corporation must have one shareholder, although they can allow for as many as fifty.
A limited liability company established with one or more shareholders, a limited liability company that is an owned subsidiary of a domestic or international business, and branches are among the eligible entities in the DIFC.
