Dubai International Financial Centre(DIFC)
Set up your company in the Dubai International Financial Centre (DIFC)
What is the DIFC?
Established in 2004, Dubai International Financial Centre provides a world-class podium for financial businesses. That the Dubai International Financial Centre contributes to more than 12% of Dubai’s GDP reveals the significance of the freezone. Set up a company in DIFC Freezone and unlock the multitude of benefits it offers.
DIFC is the hole to myriads of financial and non-financial firms from across the globe including those in banking, insurance, wealth management, asset management, credit services, etc.
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Authorisation in the DIFC
Company formation in DIFC freezone, particularly the DIFC authorization can prove to be complex and cumbersome when you try to do it all by yourself. Expert guidance will help you simplify the steps and speed up the process.
The DIFC is regulated by three independent bodies- the DFSA (Dubai Financial Services Authority), the DIFC Judicial Authority or the DIFC Courts and the DIFC Authority.
To set up company in DIFC freezone and conduct finance and bank related activities in or from DIFC, a firm needs to seek authorization and acquire a license from Dubai Financial Services Authority (DFSA). The DFSA takes up preliminary assessments to make sure that the firms comply with DFSA’s code of conduct. After verification, the DFSA issues an electronic license authorizing the firm to carry out specific categories of financial services.
Legal proceedings in the DIFC are handled by the DIFC Judicial Authority or the DIFC courts. So, the DIFC has an independent jurisdiction and has its own commercial and civil laws based on the Common law, and stands out from the standard legal practices in the UAE.
All disputes from the DIFC freezone are dealt with by the DIFC Authority unless the parties involved prefer to choose laws coming under other jurisdiction. This way companies get an effective resolution for their disputes.
Types of companies in Dubai International Financial Centre
DIFC supports a wide spectrum of business activities ranging from financial firms to non-financial operations and retail. Financial operations include Private Banking, Investment Banking, Capital Markets, Fund Management, FInTech, Venture Capital, and so on.
DIFC Company formation in Dubai can be brought under the following structure.
● Companies limited by shares
● Limited partnership
● General partnership
● Limited liability companies
● Branch offices of foreign firms.
DIFC is a rapidly evolving financial hub of Dubai and has promising opportunities for both, financial and non-financial firms. If you are looking forward to set up company in DIFC freezone, our DIFC company formation in UAE experts shall help you with guidance and end-end support in getting it done.
Registering a company in Dubai International Financial Centre
Following is the list of documents required to set up company in DIFC freezone.
● Details of all the shareholders and directors in the company.
● Exhaustive business plan
● Application form
●Audited account report of the shareholders for the last three years
To know the exact set of documents needed for company formation in DIFC freezone, talk to our DIFC company formation in Dubai experts who know the in and out of the process.
Business rules in DIFC
Businesses operating in or from the DIFC freezone can have a 100% foreign ownership and are compliant to the civil and commercial laws. Because the DIFC follows a Common law, the legal and regulatory environment is quite similar to the one in the UK, Singapore, Hong Kong, etc.
Following are some of the key business requirements
● Companies should have a registered office
● Companies should have atleast two directors (their origin can be outside the UAE)
● Records of accounts and books for the last 10 years
The above given are some of the important requirements and to know the exact set of requirements, you may talk to our DIFC company formation experts in Dubai.
DIFC supports a wide spectrum of business activities ranging from financial firms to non-financial operations and retail. Financial operations include Private Banking, Investment Banking, Capital Markets, Fund Management, FInTech, Venture Capital, and so on.
DIFC Company formation in Dubai can be brought under the following structure.
- Companies limited by shares
- Limited partnership
- General partnership
- Limited liability companies
- Branch offices of foreign firms.
DIFC is a rapidly evolving financial hub of Dubai and has promising opportunities for both, financial and non-financial firms. If you are looking forward to set up company in DIFC freezone, our DIFC company formation in UAE experts shall help you with guidance and end-end support in getting it done.
Following is the list of documents required to set up company in DIFC freezone.
- Details of all the shareholders and directors in the company.
- Exhaustive business plan
- Application form
- Audited account report of the shareholders for the last three years
To know the exact set of documents needed for company formation in DIFC freezone, talk to our DIFC company formation in Dubai experts who know the in and out of the process.
Businesses operating in or from the DIFC freezone can have a 100% foreign ownership and are compliant to the civil and commercial laws. Because the DIFC follows a Common law, the legal and regulatory environment is quite similar to the one in the UK, Singapore, Hong Kong, etc.
Following are some of the key business requirements
- Companies should have a registered office
- Companies should have atleast two directors (their origin can be outside the UAE)
- Records of accounts and books for the last 10 years
The above given are some of the important requirements and to know the exact set of requirements, you may talk to our DIFC company formation experts in Dubai.
Additional steps after registering a company in DIFC
Once you have your company registered in the DIFC free zone, there are a few additional steps that you might want to consider. You will be required to register for VAT purposes and prepare audit and annual finance statements. At Oxbow Corporate Services, we offer end to end services and company formation solutions along with after registration support.
DIFC and IT Companies
It is easy to set up a company in the DIFC freezone when you follow the legal norms of the regime. Apart from financial services, the DIFC freezone presents promising business opportunities to IT businesses. Blockchain technology, robotics, payment applications, etc. have received a huge welcome in the DIFC freezone.
If you are looking forward to opening a company in the DIFC, we suggest that you take a free consultation with our company formation experts.
Frequently Asked Questions
How does Oxbow corporate service help?
Known for offering customized, end-to-end solutions, Oxbow Corporate Services has some of the best company formation services. We help you at each step of the process from document curation and submission to post registration formalities and procedures. We a