Overview About Dubai International Finance Centre (DIFC) and Company Registration in DIFC
- DIFC is among top ten global financial centers.
- DIFC was established in 2004 as a special economic zone
- It is a leading financial hub in Middle East, Africa and South Asia (MEASA).
- DIFC has its own internationally regulated regulator and judicial system.
- DIFC follows common law frame work. Laws and regulations are issued in English.
- It provides 100% ownership and 0% income tax for 50 years.
- As on June 2020, it houses more than 2400 companies and 25600 employees.
- DIFC district has ultra luxurious freehold real estate, 5 star hotels, retail, offices and residential properties. This makes business setup in DIFC more attractive.
- DIFC registers financial services companies and non financial services.
- DIFC is an independent jurisdiction as per UAE constitution following English law.
- It has its own courts and judges are taken from international jurisdictions.
- DIFC – LCIA Arbitration centre is an independent arbitration centre that uses rules based on London court of international arbitration.
- Dubai financial Services Authority (DFSA) is a financial services regulator for conducting financial services in and from DIFC. It is different from Federal Securities and Commodities Authority (SCA) which regulates financial services in entire UAE outside of DIFC.
- NASDAQ Dubai is a financial exchange located in DIFC which was established in 2005.
- Banking, financial services, insurance, wealth and asset management, corporate offices, professional service providers and retailers are the main businesses located in DIFC.
- It also allows holding companies, foundation structures and SPVs registrations.
- Regulatory compliance and annual audit reports are major key functions to operate businesses in DIFC.
