Dubai International Financial Centre (DIFC)
Dubai International Financial Centre Authority, Dubai
Description
Established in 2004, the Dubai International Financial Centre (DIFC) is a leading financial hub for the Middle East, Africa, and South Asia (MEASA) region. Covering 110 hectares, DIFC provides a world-class platform for financial institutions and businesses, offering independent regulation, a common law framework, and a robust judicial system.
| Emirate | Dubai |
| Website | https://www.difc.ae/ |
| Contact Email | info@difc.ae |
| Contact Info |
Phone: +971 4 362 2222
Address: Dubai International Financial Centre, Dubai, UAE
|
| Year Established | 2004 |
| License Types | Financial Services License, Non-Financial Services License, Retail License |
| License Cost | License fees vary based on the type of license and business activity. |
| Formation Cost | Formation costs depend on the chosen license type, facility, and business activity. |
| Minimum Capital Requirement | Minimum capital requirements vary depending on the type of financial service and regulatory stipulations. |
| Allowed Business Activities | Banking, Insurance, Wealth and Asset Management, Capital Markets, Professional Services, Retail |
| Company Legal Structures | Company Limited by Shares, Limited Liability Company, Limited Liability Partnership, Branch of a Foreign Company |
| Allowed Activities | Financial Services, Professional Services, Retail Operations |
| Restricted Activities | Activities requiring special approvals from UAE authorities |
| Investor Visa Cost | Visa costs vary based on the investor's profile and specific requirements. |
| Employee Visa Cost | Visa costs vary based on the employee's role and specific requirements. |
| Processing Time (Days) | The company formation process typically takes between 2 to 4 weeks to finalize, depending on documentation and approvals. |
| Physical Office Required | Yes |
| Office Space Options | Office Spaces, Retail Spaces |
| Office Space Cost | Office space costs vary based on size, location, and facility specifications. |
| Virtual Office Available | No |
| Bank Account Assistance | Yes |
| Bank Account Cost | Assistance is provided; costs may vary depending on the chosen bank. |
| Partner Banks | Emirates NBD, Mashreq Bank, RAKBANK |
| Governing Laws | Operates under an independent legal system based on English common law. |
| VAT Registration Required | Yes |
| Corporate Tax Applicable | No |
| Annual Audit Required | Yes |
| Renewal Fees | Annual renewal fees vary based on the type of license and business activity. |
| Business Restrictions | Specific activities may require additional approvals. |
| Ownership Structure | 100% foreign ownership |
| Import/Export Restrictions | No Standard customs regulations apply; specific activities may require additional approvals. |
| Benefits | 100% foreign ownership, Zero taxes on corporate income and profits for 50 years, Independent regulatory and judicial system, Common law framework, Strategic location connecting MEASA markets, Access to a large network of financial institutions and services |
| Drawbacks | Primarily focused on financial and professional services |
| Specific Compliance Requirements | Compliance with DIFC regulations and standards, Adherence to anti-money laundering (AML) and counter-terrorist financing (CTF) requirements |
