Dubai International Financial Centre (DIFC) is an offshore financial centre with an independent regulation and common law framework. Dubai Financial Services Authority grants licenses and regulates the activities of financial institutions operating out of DIFC. DIFC Courts is the entity responsible for the independent administration and enforcement of justice in DIFC. The Courts have exclusive jurisdiction over all civil and commercial disputes arising within DIFC and or relating to bodies and companies registered in DIFC.
Factor | Description |
Established in | 2004 |
Number of companies | Over 1,600 |
Industry focus | Financial Services |
Limited liability company | Yes |
Minimum number of shareholder | 1 |
Minimum number of director | 2 |
Corporate shareholder allowed | Yes |
Corporate director allowed | No |
Public register of shareholder and director | No |
Access to UAE Double Taxation Treaties | Yes |
Port of Free zone | No |
Allowed to import export goods | Yes |
Commercial offices | Available as commercial offices, food courts and retail stores. |
Industrial premises | No |
Warehousing facility | No |
Accommodation facilities | Yes in close proximity |
Prominent companies at Free zone | 1) 21 of the world’s top 25 banks 2) 11 of the world’s top 20 largest money managers 3) 6 of the world’s 10 largest insurance companies |
Location of directors and shareholders meeting | Anywhere |
Residency visa issued | Yes |
100% Foreign ownership permitted | Yes |
100% Repatriation of capital and profits | Yes |
Corporate, personal and withholding tax | Nil |
Language | English |
Standard currency of Capital | UAE Dirhams |