Dubai International Financial Centre (DIFC) is the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of US$ 7.7 trillion.

The key feature of DIFC is its legal system, which is based on English common law as compared to civil or commercial laws of the UAE. It is also important to mention that DIFC has its own court. The main currency within DIFC is a US dollar, so all DIFC management fees are accepted in US Dollar currency.

Why DIFC Free Zone ?

DIFC is an onshore financial centre strategically located between the East and West, which provides a secure and efficient platform for businesses and financial institutions to reach into and out of the emerging markets of the region.

Companies Operating in DIFC can also postpone their lease periods and cancel their registration fees for a periods of 6 months and there is no restrictions on the number of shareholders and subject to the approval of the Authority.

• 100% Ownership
• Independent Regulatory Environment
• Common Law Framework
• No Restriction On Capital Repatriation
• 0% Tax Efficiencies

Setup a Business in DIFC :

Entities looking to establish and conduct business in DIFC must apply for incorporation or registration of a DIFC entity. They can do so by submitting their application to the Registrar of Companies (ROC), who will advise, receive, review and process all applications. The ROC will provide a detailed checklist of required forms and supporting documents to be submitted.

There are two types of Business Activities in DIFC :

1. 1. Financial Business
   2. Non-Financial Business

Financial Business :

• Businesses interested in setting up operations in DIFC are required to submit an application to DIFC’s regulatory body, the DFSA, which will consider the merits and suitability of the applicant and the category of license for which the application is made.
• After the issuance of the In-Principal Approval, the applicant is required to attend to the following:

1. 1. Incorporation or registration of the entity with the DIFC Registrar of Companies (ROC);
   2. Opening a local bank account and providing the DFSA with proof of remittance of capital;
   3. Evidence of office space from which it will conduct its financial activities.

• Once the conditions are fulfilled, the DFSA grants a license to the applicant. Conditions and requirements for application processes vary according to the type of regulated entity.

Areas of Business :

✓ Fintech

✓ Banking

✓ Private Banking

✓ Investment Banking

✓ Brokerage

✓ Capital Markets

✓ Innovation

✓ Insurance, Reinsurance & Captives

✓ Fund Management

✓ Asset Management

✓ Wealth Management

✓ Private Equity

Non-Financial Business :

Firms providing these non-financial goods and services perform two essential roles.

• First, they offer financial firms with the wide range of goods and services needed to operate efficiently and effectively.
• Second, these non-financial goods and services businesses help create a leisure and lifestyle environment that today’s finance professionals expect from leading international financial centres.

Areas of Business :

✓ Corporate Offices

✓ Professional Services

✓ Retail & Convenience

✓ Prescribed Companies

✓ Art Galleries

✓ Cafes & Restaurants

DIFC Innovation Hub :

DIFC Innovation Hub, the largest innovation community in the region, is home to more than 500 growth-stage tech firms, established innovation companies, digital labs, venture capital firms, regulators and educational entities. This thriving facility aims to generate new economic value by fostering innovation, enterprise and talent across various sectors, especially in the future-oriented industries.

• The DIFC Innovation License serves as a launch pad for entrepreneurs as well as for technological and innovation firms.
• It provides access to best-in-class learning for undergraduates, postgraduates and executives through the DIFC Academy, the region’s most successful executive learning environment.
• It gives access to funding from the largest cluster of venture capitalists, family offices and institutional capital in the region.
• The event space, Open Stage brings together the Innovation Hub community of innovators, creators, entrepreneurs and industry transformers to interact and share their thoughts

DIFC legal structures :

DIFC has 4 main legal structures under the DIFC Laws and Regulations namely:

1. Companies

• • Private Company
  • Public Company
  • Recognised Company

2. Partnerships

• • General Partnership (GP)
  • Recognised Partnership (RP)
  • Limited Partnership (LP)
  • Recognised Limited Partnership (RLP)
  • Limited Liability Partnership (LLP)
  • Recognised Limited Liability Partnership (RLLP)

3. Non Profit Incorporated Organizations (NPIO)

4. Foundations

• • Foundation
  • Recognised Foundation

Types Of Spaces :

All leased spaces in the Centre have advanced facilities, safety and security systems, connectivity and integrated data solutions.

• Commercial Office Spaces
• Retail Spaces
• Coworking Spaces
• Business Centre
• DIFC Academy Venues
• Data Centre
• Event Spaces

FOR MORE INFORMATION, CONTACT US :

Phone : +971 52 1952 532 / +971 4 240 1110

Mail-Id : info@yugaaccounting.com

Website : www.yugaaccounting.com