DIFC

Dubai International Financial Centre is one of the world’s top financial centers and the leading financial hub for the Middle East, Africa and South Asia region.

A vibrant business eco system of over 22,000 professionals working across more than 2,000 active registered firms that benefit from an independent regulatory and judicial system, a global financial exchange, inspiring architecture, and enabling support services.

How DIFC made

The DIFC has three independent bodies:

• DIFC Authority (DIFCA);
• Dubai Financial Services Authority (DFSA)
• Dispute Resolution Authority (inclusive of DIFC Courts, DIFC Arbitration Centre, Academy of Law and Wills & Probate Registry).

Allowed Financial Activity in the DIFC

• Banks
• Insurance and Reinsurance
• Wealth and Asset Management
• Brokerage and Capital Markets
• Professional Service Providers
• Corporate Offices
• Retailers

How is setting up in the DIFC different from setting up in Dubai?

One key difference between setting up in the DIFC as opposed to Dubai is that entities undertaking financial services in the DIFC will not be subject to regulation by the UAE’s financial services regulators. Although they are subject to UAE Federal Laws on Anti Money Laundering and terrorist financing. The basic principle for setting up anywhere in the UAE (other than in free zone areas) is that entities setting up must have at least 51% of the company’s shares owned by UAE national(s).