Dubai International Financial Centre Free Zone Company Formation
Dubai International Financial Centre (DIFC) came into existence in September 2004 is the world’s fastest growing international financial center that fulfills the financial needs of the region. The aim of federal financial is to sit on the same stature as New York, Tokyo, London, and Hong Kong and serves as a global financial center between Western Europe and East Asia. Due to is efficiency, operational transparency and core value of integrity DIFC has attracted top notch firms across the world. The Dubai International Financial Exchange (DIFX) was opened in September 2005 located near Dubai International Financial Centre.
This financial center is spread across 110 acres and has a legal system with definite jurisdiction the matters related to employment, commercial trusts, corporate security, and civic bodies. Dubai Financial Services Authority (DFSA) is an independent regulator and the governing body that manages the financial and banking services conducted by DIFC and provides them a growth based stable and secure platform for your business. The companies wish to plan a setup operation the regulatory body issues business licenses to companies.
Types of Legal Entities Allowed in DIFC
Types of Licenses Available in DIFC
Procedure Set Up a Business in DIFC
The financial sustainability of the companies in the DIFC Free Zone is ensured by the program established in the center of resource alignment, financial risk management, and competitive benchmarking. DIFC not just cover the financial aspect of free zones but also home to privately held retail shops, financial exchange, and convenience stores, along with business services outlets, medical clinics. More than 100 restaurants and cafes possess a variety of cuisines and venues to suit any occasion. The authority does not allow companies operating in the non-financial sector as per DIFC. In order to setup a company one needs to have a commercial license.
Procedure to Set Up a Company in DIFC
- Fill out the application form
- After approval comes to the registration process
- You need to submit the required documents
- Proof of minimum Share Capital in the business
- Open a bank account of the company
- After analysing every document provided the license will be issued after weeks and the certificate of incorporation will also be issued along with it.
Documents Required to Set Up a Business in DIFC
- Company’s internal audit functions and compliance system
- Detailed business plan
- Propriety certificate confirming the institution’s fitness to conduct business
- Proposed institution’s organizational structure
- Audited account of shareholders of the last 3 years
- Anti-money laundering procedures and controls
- Applicant company’s financial position and regulatory history, in case of a branch
- Detailed information on operating systems and controls
- Names of Major shareholders that have above 5% shares and key staff members
Why Business in DIFC?
For companies related to finance Dubai International Financial Centre is a perfect base due to its legal framework, the tax friendly, independent regulations, and advanced infrastructure. The oversees operational administration and strategic development of regulated by DIFC Authorities.
Incorporation of company in Dubai International Financial Centre is an esteem business proposal due to the following reasons:
- Client centric policies
- Unique legal framework
- Financial sustainability
- A vision for unhindered growth
- Developed and standard infrastructure
Setting up your business in Dubai International Financial center is easy if you take help from a consultant company that helps business owners and investors belonging to the financial sector with company incorporation in the free zone so you don’t have to worry about red tape and wasting months of time in matters that can be solved with weeks. We at Branches manage your business process entirely and make sure there is no problem arise in the near future.
At branches we provide transparency of work our expert’s consultants make sure that there is no problem in the procedure of company formation and your work smoothly without any hassle. Contact us for a business setup in DIFC, We will be glad to assist you.
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