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Overview
Established in 2004, The Dubai International Financial Centre (DIFC) is a leading free zone for company setup in the UAE. A legal system based on English common law, DIFC is considered an ideal location for international companies to access regional markets. With competitive company setup costs and a world-class infrastructure, businesses can flourish locally and internationally.
Why DIFC?
The DIFC is one of the top financial hubs in the UAE and the Middle East, offering significant tax benefits and a relaxed regulatory landscape, this freezone grants companies – specifically companies operating in the financial sector numerous opportunities to expand their business across the UAE and international markets.
What is the DFSA?
The Dubai Financial Services Authority (DFSA) is the independent regulator monitoring DIFC operations, regulating many financial activities including asset management, banking, credit services, securities trading, investment funds, and commodities trading. DFSA ensures fairness, transparency and efficiency in the financial services industry in the DIFC.
Benefits of business setup
in DIFC Free Zone
- 01
Strategic location
Situated in the center of Dubai.
- 02
Common Law legal system
DIFC laws are drafted in accordance with the English Common Law.
- 03
Tax benefits
0% income tax with potential access to UAE’s network of double taxation treaties.
- 04
100% foreign ownership
Full control over your business.
- 05
Full repatriation
Freedom to repatriate capital and profits without restrictions.
- 06
Skilled workforce
Access to a variety of talented professionals in Dubai and the UAE.
- 07
Advanced infrastructure
Modern offices, hassle-free transport, communications, and internet infrastructure.
- 08
Independent jurisdiction
DIFC courts resolve civil and commercial matters.
Facilities
Commercial
retail spaces
Office spaces
(shell and core options)
Serviced
offices
Types of Legal Entities in DIFC
- 01Company limited
by shares - 02Limited liability
company - 03Branch office
- 04Partnership
Prescribed companies
Passive holding
A prescribed company can be established to hold legal title to control one or more GCC-registrable assets (e.g. land and real property) and protect such assets from legal and financial risk. Prescribed companies can be established by GCC persons (e.g. a citizen of a GCC member state, etc.), a DIFC registered entity (other than a prescribed company or a NPIO), or authorized firms for a qualifying purpose (e.g. intellectual property structure). A prescribed company structure is unique, as it can be established even if none of the qualified purposes or applicants are met through an arrangement with a DIFC registered corporate service provider and provided that an employee of the corporate service provider is appointed as a director of the prescribed company, and that the corporate service provider has an arrangement with the registrar of companies to carry out certain AML/Compliance functions on behalf of the prescribed company.
Active Enterprises
An active enterprise can be used for three categories of activities, holding companies, managing offices, and proprietary investment companies. A major difference between an active enterprise and a prescribed company is the ability to hire employees. An active enterprise can be established by qualified applicants who include a DIFC registered entity (other than a prescribed company, NPIO or foundation), controlling shareholders or UBO of a DIFC registered entity (other than a prescribed company, NPIO or foundation) a government entity, or family operated business.
DIFC Foundations
Suitable for effective succession planning and the preservation of family assets, DIFC foundations might be established by one or more founders who dedicate certain assets towards a specified charitable or non-charitable purpose. The scope of permitted objects is broad. However, the foundation cannot undertake commercial activities, except those necessary for, and ancillary or incidental to its objects. Foundations are managed by two members appointed by the founder(s) and may be supervised by a guardian appointed to verify that the decisions of the members are taken in accordance with the charter and by-laws of the foundation. There are multiple benefits associated with setting up a foundation including but not limited to avoiding the potential cost and delay associated with distributing wealth through testamentary provisions and mitigating the risks arising from changing political and economic circumstances.
Activities allowed in DIFC
The DIFC offers a wide choice of business activities for individuals and businesses looking to establish a presence in the DIFC. The DIFC allows the exercise of financial and non-financial, retail and non-retail activities.
Financial activities
Asset management
Managing funds, wealth management, and investment portfolios.Trust services
Providing Trust services as a trustee of an express trust.Credit services
Providing credit facilities, loans, and other credit-related services.Insurance and reinsurance
Offering insurance and reinsurance services for a wide range of sectors.Securities trading
Trading in equities, debt instruments, and other securities.Investment funds
Establishing and managing investment funds.Advising on financial products
Offering advisory services related to investments, mergers, acquisitions, and other financial matters.
Non-financial activities
Retail outlets
Shops selling fashion, electronic and luxury products.Food and beverage
Restaurants, cafes, and other food and beverage outlets.Legal services
Legal consultancy firms providing legal advice and services.Consulting services
Management consulting, IT consulting, and other professional advisory services.Accounting and auditing services
Accounting firms providing audit, tax, and other financial services.Corporate services
Services related to company formation, administration, and corporate governance.Real estate
Property management, real estate brokerage, and development services.Education and training
Institutions offering educational and professional training services.Healthcare
Clinics, medical centers, and wellness services.Media and marketing
Advertising agencies, media production companies, and marketing consultancies.
Procedure to establish
a business in DIFC
- 01
Complete required documents
Prepare all necessary documents, including proof of minimum share capital if necessary.
- 02
Document review
Submit documents for review.
- 03
Receive license and Incorporation Certificate
The process typically takes a few weeks.
- 04
Open a corporate bank account
Set up a company bank account.
Documents required for
setting up a business in DIFC
Individuals
Certified Passport of the Shareholder(s) and officers Visa and emirates ID if applicable Latest utility bill of the shareholders and officers CV of the shareholders and officers E-mail Address, Mobile Number, of shareholder(s) / Manager / Director Bank Statements of individual (s)Companies
Memorandum of Association (MOA) and Articles of Association (AOA) Business license Board resolution Certificate of incorporation Bank statement or audit report of the company Certified passport copy of the officers for corporate shareholders Business plan (if applicable) Organizational structure proposal (if applicable)
Establishing a business in the DIFC offers opportunities for financial and professional companies to succeed and prosper in the UAE and international markets. With a common law based legal system, tax benefits, and a relaxed business environment, DIFC is an ideal option for companies willing to grow in the UAE. The setup procedure is hassle-free and convenient, providing businesses with access to one of the top financial hubs in the market.
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