Company Formation in DIFC– Dubai International Financial Centre

Company Formation in DIFC– Dubai International Financial Centre
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Dubai International Financial Centre is an onshore financial centre strategically located between the east and west, which provides a secure and efficient platform for business and financial institutions to reach into and out of the emerging markets of the region. The quality and range of DIFC’s independent regulation, common law framework, supportive infrastructure and its tax-friendly regime make it the perfect base to take advantage of the region’s rapidly growing demand for financial and business services.

Dubai’s vision contributes to Dubai’s reputation as a global business hub by maintaining international standards, developing international relations, business and employment creation and economic development. It also ensures the financial sustainability of DIFC and the companies established in the centre through a programmed of resource alignment, financial risk management and competitive benchmarking.

DIFC supports client growth through authority business process streamlining, service improvement and enhanced management structures geared towards a superior client experience. One of the principal factors behind the success of DIFC is its independent risk-based regulator i.e. the Dubai Financial Services Authority (DFSA) which grants licenses and regulates the activities of financial services conducted through DIFC.

The DFSA’s regulatory regime was developed using principle-based primary legislation modeled closely on internationally accepted standards. The regulator’s mandate covers asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities future trading, Islamic finance, insurance, an international equities exchange and an international commodities derivatives exchange.

The activities are further subdivided into two main categories as Regulated and Non-Regulated activities. The activities mainly carried out from DIFC Free Zone is bank, professional service providing company, global corporate house, retail sectors, insurance, wealth management, asset management, management of offices in the form of single family office and capital market.

Key Benefits of Company Formation in Dubai International Financial Centre (DIFC):

  • 100% foreign ownership,
  • 100% repatriation of capital,
  • 100% exemption from personal income tax, corporate tax, service tax, import and export tax,
  • Free capital convertibility
  • International legal system based on Common Law of England & Wales
  • Exemption from the UAE Federal civil & commercial laws
  • An independent common law juridical system
  • A dollar denominated environment
  • DIFC Courts to process fast track cases
Characteristics of DIFC Company Setup:

Location:

Dubai International Financial Centre, Dubai (U.A.E.)

Proposed activity:

The business activities offered by DIFC are categorized into financial, non-financial, retail and non – retail activities.

License available:

Commercial license is only available option for DIFC Company Setup

Type of entities:

Company limited by shares, Limited liability companies, Partnership and Branch

Shareholder:

Shareholder for DIFC Company Can be Individuals or Corporate entity

Director:

Individuals only (Shareholder can also be Director)

Share capital:

USD 50,000/- for DIFC Company Setup and USD Nil/- in case of Branch office. (Required to be deposited in bank before or after company incorporation)

Do note that shares are deemed to be issued on company incorporation irrespective of whether share capital is deposited in bank pre or post incorporation.

Audit:

Annual audit report to be filed in DIFC

Estimated time:

4 to 8 weeks to obtain license of the company and register a company in DIFC.

Another 7-10 working days for immigration card subject to security clearance & thereafter visa may take approximately 7-10 working days on normal basis.

DIFC Company Setup Process:

  • Identify the legal form of company to be registered in DIFC
  • Select activity from DIFC activity list,
  • Apply for name and initial approval,
  • Payment of fees related to DIFC business set up,
  • Sign DIFC company registration and incorporation documents,
  • Apply for DIFC residence visa.

Documents Required for DIFC Company Registration:

The documents required for business set up in DIFC depends on whether a shareholder is individual or corporate entity. Basic requirements are

  • Color passport copy,
  • Color UAE residence visa & emirates id copy,
  • Utility bill copy,
  • Business Plan & Financial Projection
  • CV/Resume,
  • NOC from existing sponsor,

To know more about the complete requirements for company formation in DIFC call us now on 050-8992852 or drop an email to sagar.mehta@gbsei.com

Company Formation Cost in DIFC- Dubai International Financial Centre:

DIFC Retail Company Setup begins from USD 46,323/-

Call us now on 050-8992852 or drop an email to sagar.mehta@gbsei.com to know about special promotions/offers related to business setup in DIFC.

Other Notes for DIFC/Dubai International Financial Centre Company Formation:

  1. Document to be legalized with UAE Embassy in case of corporate shareholder
  2. Shareholder or directors wishing to have UAE residency visa on said company will need to revisit after issuance of license, immigration card and entry permit for stamping of visa on the passport and may need to stay in UAE for 5 to 7 working days as that process may take time.
  3. Company Immigration/Establishment card to be renewed every year

Global Business Services DMCC has helped many individuals and corporate entities to set up their businesses in DIFC. Our company acts as a one stop solution for DIFC company incorporation services.

If you are looking for DIFC company setup, please get in touch with us for professional assistance.

Call us now on 050-8992852 or drop an email to sagar.mehta@gbsei.com to know about special promotions/offers related to business setup in DIFC.

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.

GBSOur Office
Organically grow the holistic world view of disruptive innovation via empowerment.
+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

GET IN TOUCHGBS Social links
Taking seamless key performance indicators offline to maximise the long tail.
GBSOur Office
Organically grow the holistic world view of disruptive innovation via empowerment.
+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

QUICK LINKSOur Services
GET IN TOUCHGBS Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.

Copyright © 2020 Global Business Services.

Copyright © 2020 Global Business Services.

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