Faic Business Consultancy JLT

Email: info@faicdubai.com

Dubai International Financial Centre

Dubai International Financial Centre - Dubai Free Economic Zone International Financial Centre (abbreviated DIFC) is an independent jurisdiction under the UAE Constitution, and has its own independent civil and commercial laws, which are written in English and which default to English law. It also has its own courts, with judges taken from leading common law jurisdictions including England, Singapore and Hong Kong. The DIFC-LCIA Arbitration Centre is an independent centre of international arbitration that uses rules modeled on the London Centre of International Arbitration.

DIFC was established by the Government of Dubai in September 2004. The main activity is the financial industry. Currently, the DIFC community comprises more than 800 companies, including six of the world's largest banks, 8 of the world's largest asset management, and 4 major insurance companies in the world.

License applications are considered from financial institutions in the sectors. Each of these units offer benefits such as zero tax rate on income and profits, 100 percent foreign ownership, no restrictions on foreign exchange or capital/profit repatriation, operational support and business continuity facilities.

One of the key elements of the centre is a privately held financial exchange that opened in September 2005 as Dubai International Financial Exchange (DIFX) but was rebranded to NASDAQ Dubai in the year 2008.

The trading hours of NASDAQ Dubai are from 10:00am to 2:00 pm (06:00 am to 10:00 am GMT) from Sunday to Thursday.

Companies listed on NASDAQ Dubai include ordinary shares listed by DP World along with DEPA. DP World's initial public offering was the largest ever in the Middle East and raised $4.96 billion; it was 15 times oversubscribed, and is one of the most valued companies in the Middle East Region.

NASDAQ Dubai is regulated by Dubai Financial Services Authority.

Services
Customers of Dubai International Financial Centre Free Zone are offered: long-term leasing and commercial property, the use of specialized information and communication services, the services of an independent legal system and arbitration center, help with technical management and assistance services safety advice, help on how to receive work permits and visas to residents, driving license, alcohol license, and other public documents.

Licences Banking (commercial, investment, trade, export banking, finance and infrastructure projects, banks correspondents, Storage services) Insurance and reinsurance assets Wealth Management (management of personal assets and the assets of investors’ investment funds)

Capital markets (underwriting, merger advice and purchasing, venture capital, private equity, private banking, commercial financing, brokerage)
Professional services (legal, accounting, audit, advisory services, and risk management services, employment, and research and data retrieval)


Types of companies:
Global corporations and services related to their work
Management office (Office leasing)
LLP (Limited Liability Partnership)-
LLC (Limited Liability Company) -
LP (Limited Partnership) -

Key benefits to set up a business in DIFC:

Platform to access regional wealth and investment opportunities

100% foreign ownership

Zero percent tax rate on income and profits (guaranteed for a period of 50 years)

A wide network of double taxation treaties available to UAE incorporated entities

No exchange controls (free capital convertibility)

High standards of laws, rules and regulations

International legal system based on Common Law of England & Wales

A wholly transparent operating environment, complying with global best practices and internationally accepted laws and regulatory processes

A variety of legal vehicles that can be established with capital structuring flexibility

Access to a large pool of skilled professionals residing in Dubai and the region

A modern transport, communications and internet infrastructure

A responsive one-stop shop service for visas, work permits and other related requirements

An independent common law judicial system

Registration process:

The authorized capital of the company depends on the type of the company and varies between $ 10,000 to $ 10 million. Registration period is determined for each company separately.





 

 

Read 2333 times Last modified on Saturday, 02 March 2013 21:47
Home Dubai International Financial Centre

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Faic Dubai, Unit № 605-4, BB1 Tower, Level 6 - Mazaya Business Avenue, Diamond Business Center DMCC ("DBC"), Jumeirah Lakes Towers, Dubai, UAE

Mail: info@faicdubai.com