Company Formation in DIFC
A secure and efficient forum for businesses and financial organizations to reach into the region's emerging markets
Dubai International Financial Centre (DIFC) is one of 30+ Dubai Free Zones that is located between the East and West. DIFC delivers a safe and efficient platform for businesses to reach into and out of the emerging markets of the region. The quality and range of DIFC’s self-reliant regulation, framework of ordinary law, supportive infrastructure, and tax-friendly administration make it the ideal location from which to capitalize on the region’s constantly expanding need for financial and business services. The DIFC is unique because its legal system is consistent with “English common law.”
DIFC Company Formation
The DIFC’s goals are to deliver a forum for DIFC company formation and particularly financial organizations to operate a business with the region’s emerging markets. It is an international economic centre nestled in the centre of Dubai. It is bounded by an area rich in natural resources.
DIFC helps client growth through authority business process streamlining, service advancement, and improved management structures aimed at a superior client experience. One of the principal factors behind the success of DIFC is its self-reliant risk-based regulator i.e., the Dubai Financial Services Authority (DFSA), which grants licenses and controls the activities of financial services conducted through DIFC.
Benefits of Company Formation in DIFC
The following are the benefits of Company formation in DIFC :
LEGAL AND REGULATORY FRAMEWORK
- The legal framework supports cross-border activities.
- 100% foreign ownership permitted.
- No restriction on foreign talent or employees.
- No restrictions on capital repatriation.
TAX BENEFITS
- Zero tax for 50 years on profits, capital or assets from 2004.
- Zero tax on employee income.
COUNTERPARTY CONFIDENCE
- Highly regarded, independent regulator.
- Independent, English-speaking, common law judicial system.
- Distinct from the UAE legal system.
- Risk-based regulatory approach.
DIVERSE ECOSYSTEM
- Central to regional deal-making without any restrictions.
- Presence of well-known international firms, investment and wealth management firms, banks, and financial institutions.
- Professional auditing and tax services with complete knowledge.
- The largest fund domicile in the region.
GEOGRAPHIC EPICENTER
- Working areas, including holding companies and family offices, are closer to the assets that they manage.
- The Middle East, Africa and South Asia (MEASA) is rapidly becoming a centre of gravity for the global economy.
- Dubai plays a vital role in the growing trade, primarily between Asia and Africa.
- Positioned centrally to reap the benefits of emerging markets.
Why Set Up a Business in DIFC?
There are several reasons to build a business in the Dubai International Financial Centre (DIFC). The DIFC delivers a world-class regulatory environment and an extended range of business activities to banks, financial institutions, and professional services firms. The DIFC is also a convenient location for corporations in the Middle East and North Africa. With a strong legal system and English as an official language, DIFC welcomes a West-oriented business model. Thus the DIFC is an important financial hub in the Middle East and is home to several popular banks and financial organizations. The Centre is also a favored choice for setting up a business due to its low taxes and easy business set-up process.
Key Steps for Establishing a Business in DIFC
The following factors are to keep in mind while establishing a business in DIFC:
- You should first choose your company's legal structure to determine the types of licenses and approvals you will need to obtain beforehand. This will help you plan better with an understanding of legalities and peace of mind
- Once you have a strategy, you need to secure the necessary financing for your business. This may involve approaching local banks or financial institutions for help.
- You need to obtain the required business licenses and permits from the DIFC Authority for execution.
- Lastly, you need to find suitable office space within DIFC after registering your business with the DIFC Registrar of Companies.
Following these steps will ensure that your business is properly set up and compliant with all the relevant laws and restrictions. With the most favorable business environment and effortless company set-up process, the DIFC is the perfect spot to start establishing your business in the Middle East.
Document Required for Business setup in DIFC
- Proof of trade name reservation
- Passport(PP) Copies for the shareholder(s)
- List of activities to obtain the relevant license in DIFC
- Personal Information sheet for each shareholder & manager
- Passport copy and C.V of the Manager
- Notarized Power of Attorney appointing as your legal representative, So that we can act on your behalf and/or on behalf of the shareholders.
- Lease agreement – Lease Documents Having a physical address for your venture/office is a Compulsory requirement in the UAE. The rent on average within the free zone area is US$ 25 up to US$ 45 per sq. / ft. (US$ 225 up to US$ 400 per sq. /m.). Our company can assist you while searching for your Physical address.
- You might require to submit other documents as well to fully complete the process.
There are some activities which might require third-party / authority pre-approval – accordingly additional costs and professional fees might be applicable. Contact us to know more.
What We Offer?
Our company formation specialists suggest to our clients the best possible way to structure their business per the business activities which our clients are willing to undertake. Our experienced professionals can help you in dealing with all the legislative requirements in an efficient and cost-effective way so that you can implement your business activities according to the land with no legal worries.
At Adepts, we assist companies and organizations in setting up their business in DIFC. The DIFC can carry out the following financial service activities:
- investment banking
- private banking
- fund management
- asset management
- brokerage
- investment advisory services
frequently asked questions
DIFC (Dubai International Financial Centre) is a free-zone located in Dubai, United Arab Emirates. It was established in 2004 with the purpose of attracting international financial services and companies to the region. It operates as an independent jurisdiction with its own legal system, tax regime, and regulatory framework. The DIFC is a hub for many regional and international financial institutions and offers a business-friendly environment and world-class infrastructure.
Setting up a business in the DIFC offers several advantages, including:
Setting up a business in the DIFC offers several advantages, including:
- Access to a large pool of international talent and expertise
- Zero tax on income and profits
- Strategic location within close proximity to major Middle Eastern, African and South Asian markets
- Access to a well-developed financial and regulatory infrastructure
- A supportive and conducive business environment that enables the growth of companies
DIFC offers a wide range of company setup options, including limited liability companies (LLCs), branches of foreign companies, partnerships, limited partnerships and sole proprietorship companies. The DIFC also has specific provisions for financial services companies, such as banks, insurance companies, investment firms, and others.
The eligibility criteria for setting up a business in DIFC are as follows:
- The business should be owned by an individual or company registered outside the UAE
- The business should provide financial or professional services
- The business should be approved by the DIFC Authority
The time required to set up a business in DIFC depends on several factors, such as the type of business, the complexity of the business model, the availability of necessary documents and approvals, and others. Typically, it takes between 4 to 8 weeks to set up a business in DIFC.
The costs involved in setting up a business in DIFC include:
- Application fee
- Company registration fee
- Office rental
- Legal and regulatory fees
- Licensing and visa fees
The exact cost of setting up a business in DIFC will depend on the type of business, the size of the office, the number of visas required, and other factors.
The following documents are required for setting up a business in DIFC:
- Business plan
- Company profile
- Passport and visa copies of all shareholders
- Proof of address for all shareholders
- Company registration documents
- Memorandum and articles of association
The visa requirements for setting up a business in DIFC depend on the type of business and the number of employees. Typically, a business visa is required for the sponsor, the manager, and the employees of the business. The visa process requires the submission of several documents, including passport copies, proof of address, and others.
Why Choose ADEPTS
Expertise and Experience
At Adepts Chartered Accountants, our team consists of highly skilled professionals with extensive experience in managing complex regulatory and accounting standards. We are proficient in both local and international regulations, ensuring our services are accurate and fully compliant.
Tailored Solutions
Recognizing the unique nature of each Business, we offer customizable services designed to align with your specific needs and business objectives. We collaborate closely with you to understand your requirements and deliver solutions that achieve optimal results.
Time and Cost Efficiency
By choosing our services, you benefit from significant savings in time and resources. Our solutions are engineered to be cost-effective, providing high-quality support without the need for substantial internal investment.
Accuracy and Compliance
We prioritize accuracy and compliance in every aspect of our service. Our meticulous approach and rigorous procedures ensure precision and adherence to standards, reducing the risk of errors and the potential for non-compliance penalties.
Dependable Service
Dedicated to delivering reliable and consistent services, we aim to build long-term relationships with our clients based on trust, integrity, and mutual respect.
