Dubai International Financial Centre (DIFC) is an independent free zone established in 2004. It is a global financial nucleus for Middle East, South Asia and Africa, connecting the regional markets with the economies of Americas, Europe and Asia. It is located midway between London in the west and Singapore in the east, i.e., equidistant from two global financial hubs. DIFC is home to several financial institutions, in addition to multinational companies, residences and places of recreation. DIFC has its own independent judicial system and regulatory body, financial exchange, and law framework. It is home to several financial institutions, investors and wealth funds, in addition to amenities like eateries, hotels, residential zones, retail outlets and exhibition galleries.
The governing body of Dubai International Financial Centre DIFC is DIFC Authority. And the financial services in DIFC are regulated by the Dubai Financial Services Authority (DFSA), monitoring the nature of financial services to and from DIFC. The laws of DIFC are distinct from that of the UAE, written in English, and resorting to the English law for resolving any conflicts. DIFC has independent jurisdiction when it comes to matters of commerce, securities, corporations or civil systems.
Benefits of Setting Up a Company in DIFC Free Zone
Dubai International Financial Centre offers the following benefits to companies:
- Provision of 100% ownership, with no need of a local partner
- No taxes for corporate income or profits for at least 50 years
- A huge cosmopolitan business environment
Company Formation in DIFC
For the details of forming a company in DIFC, click here.
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