Dubai International Financial Center (DIFC)

Dubai International Financial Center [DIFC]

The DIFC is the world’s newest international financial centre. It aims to develop the same stature as New York , London and Hong Kong .

It primarily serves the vast region between Western Europe and East Asia .

Since it opened in September 2004, the DIFC has attracted high caliber firms from around the globe as well as its region. A world-class stock exchange, the Dubai International Financial Exchange (DIFX), opened in the DIFC in September 2005

The DIFC focuses on several sectors of financial activity: Banking Services (Investment Banking, Corporate Banking & Private Banking); Capital Markets (Equity, Debt Instruments, Derivatives and Commodity Trading); Asset Management and Fund Registration; Insurance and Re-insurance; Islamic Finance & Professional Service Providers.

Services
Registrar of Companies office is responsible for registration of legal entities in DIFC. It also has a key role in providing information on DIFC entities.

The main functions of Registrar of Companies are to:

incorporate/register and dissolve DIFC entities;
examine and store DIFC entities information delivered under the applicable laws and regulations; and
make this information available to the public.
The role of the Registrar of Companies staff is to advise on, receive, review and process all applications submitted by prospective DIFC registrants seeking to establish a presence in the DIFC in accordance with the Companies Law, the General Partnership Law, the Limited Liability Partnerships Law, or Limited Partnership Law and the implementing regulations applicable thereto.

Benefits of Setting up in the DIFC

Institutions establishing in the DIFC can potentially gain from the following key benefits:

100 percent foreign ownership.
Zero percent tax rate on income and profits.
An extensive tax treaty network for UAE incorporated entities.
Freedom to repatriate capital and profits – without restrictions.
Internationally accepted laws and regulatory processes.
A world-class, independent, regulatory agency working alongside other financial regulatory agencies located in major global jurisdictions.
A wholly transparent operating environment, complying with global best practices.
A dollar denominated environment.
An international stock exchange with primary and secondary listings of debt and equity instruments.
A variety of legal vehicles that may be established with capital structuring flexibility.
A pool of skilled professionals residing in Dubai and the region.
A modern and efficient transport, communications and internet infrastructure.
A responsive one – stop shop service for visas, work permits and other related requirements.