Established in 2004 in Dubai, Dubai International Financial Centre (DIFC) is one of the major global financial hubs for the Middle East, Africa and South Asia markets.
DIFC is one of Dubai’s independent Free Trade Zones (FTZs), as, like the other FTZs, offers 100% foreign ownership and a 50-year guarantee of zero taxes on corporate income and profits supported by the UAE’s network of Double Taxation Avoidance Agreement (DTAAs). Furthermore, DIFC has its own independent, internationally regulated regulator (DFSA), and its own judicial system (DIFC Courts) governed by common law framework modelled closely on that used in London and New York.
DIFC hosts both financial (regulated) and non-financial (non –regulated entities). Regulated firms carry out financial services and include banks, capital markets, wealth and asset management companies, insurance & re-insurance firms, etc. The Dubai Financial Services Authority (DFSA), grants licenses and regulates the activities of all banking and financial institutions in DIFC. Conditions and requirements vary according to the type of regulated financial activity.
Non-regulated and non-financial businesses include, consultancy services, legal, accounting, notary, audit, insolvency and recruitment firms, corporate governance experts, international tax advisers, and more. Furthermore, DIFC includes a vast retail district with shops, restaurants, hotels, art galleries, personal services etc.
Under the new Trust Law regime and a new Foundation Law regime DIFC has opened the doors to Trusts and Foundations, different powerful vehicle designed to hold and protect assets.
For advice on DIFC registration, please contact us at firstname.lastname@example.org.
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