Dubai International Financial Centre

The Dubai International Financial Centre, as the territory with the status of the free trade economic zone, was founded at the end of 2004 by the initiative of the government of the Emirate. A decade later, hundreds of international companies, the world's largest banking groups, transnational corporations, holding structures and insurance companies carry out their successful work in the territory of this economic area. The stimulus of the active development of the financial industry of the country has become the main purpose of this Free Trade Zone in the United Arab Emirates.

Services for business

Foreign businessmen and entrepreneurs are offered a wide range of financial instruments and opportunities for profitable investment activity and possibility of opening the various companies linked with the area of finance. Among the extended range of services which are rendered on the territory of the International Financial Centre, the following opportunities in DIFC FTZ can be singled out:

• Renting and leasing of commercial and residential real estate;
• Access to the modern communication and information systems and services;
• Independent arbitration centre and own legal system;
• Providing the advice and practical assistance on technical and managerial issues;
• Assistance in visa and license registration issues;
• Round the clock safeguarding and the security service.

The modern technologies of international rank and the appropriate infrastructure are available in the Dubai International Financial Centre. The entrepreneurs and investors can count on the expert support in the following areas:

• Legal support and representation of interests in government bodies;
• Financial audit and accounting;
• Consulting services and management of existing risks;
• Organization of market research and accumulating information about markets, suppliers, etc.

The opportunity of consolidation and centralization of the available resources in the regions and, thereby, the provision of a competitive advantages by reducing the final operational cost, can be singled out among the main advantages of this economic area. Besides, all companies which are registered on the territory of the DIFC FTZ have the opportunity to establish new business contacts among themselves. Registration of a company in the Dubai International Financial Centre is the great opportunity to profit from large companies’ proven experience and to bring your business to the absolutely new international level.

Besides, the DIFC FTZ can offer investors a well-developed social infrastructure. Retail stores and shopping centers, cafes and restaurants, entertainment facilities and art galleries will make the residence on the territory of the center comfortable and harmonious in terms of aesthetics.

Dubai International Financial Centre: registration and incorporation of companies

The registration of an international company or incorporation of branch of an existing foreign company is necessary for legal commercial and economic activities on the territory of the Dubai International Financial Centre. The current corporate law provides several legal forms for business registration. In particular:

• Limited Liability Company: a legal form which suggests the limited liability of founders and shareholders;
• Investment company: companies for carrying out an investment activities;
• Limited Liability Partnership: the responsibility of the participants of the association is limited;
• Limited Partnership: limited partnership;
• General Partnership: the responsibility of the participants in the partnership is not limited by allotments;
• Foreign Company Branch: representative office of a foreign company.

The incorporation and registration of international companies  in DIFC FTZ are carried out on the following conditions:

• The possibility of a 100% foreign ownership;
• The company is exempt from all the forms of corporate taxation;
• No restrictions for investors for withdrawal of capital and received income;
• An effective procedure for dispute settlement, which meets the international standards;
• Maximum transparency and informational availability of the all stages of cooperation;
• The opportunity to participate in the International stock exchange and to use the modern financial instruments;
• Access to highly qualified manpower reserves and the possibility of involving the foreign labor force;
• Perfect infrastructure, engineering and transport communications, and also advanced communication facilities and Internet infrastructure;
• Easy cooperation with public authorities while issuing various documents (visas, business licenses, and etc.) due to the principle of "one window".

In view of the fact that the financial sector in Dubai and the corresponding area of services are actively developing, foreign entrepreneurs are offered a wide range of opportunities for creating business solutions. The share capital requirements are directly dependent on the chosen legal form of the DIFC FTZ company and can amount from 10 thousand to 10 million US dollars.

Dubai International Financial Centre: licensing activities

The next stage within the framework of the registration is the obtaining of the state business license. The choice of an appropriate license depends directly on the planned activity and necessities of the prospective business. The legislation of the Dubai International Financial Centre economic area provides the issuance of the following types of business licenses:

• The license for carrying out banking activities, including trading, commercial and export transactions, financing of infrastructure and also services for the storage and deposition of valuables;
• Business license for insurance and reinsurance activities;
• License for assets management, including management of assets of investment funds and private individuals;
• License for participation in the capital market, including direct investment funds, venture capital, brokerage and financing;
• Business license for the provision of professional, legal, consulting, auditing, accounting services, including risk management, research activity and looking-for manpower;
• Business license for carrying out activity of the global corporate and holding companies;
• License for administration of the office premises, lease and etc.;
• Business license for carrying out the retail trade on the territory of the economic area.

The Dubai International Financial Centre is the ideal financial platform which is located at the intersection of the interests of the West and the East. Our experience shows that the DIFC FTZ is the protected and effective platform for international companies and financial institutions.