The DIFC is the world’s newest international financial centre. It aims to develop the same stature as New York , London and Hong Kong .
It primarily serves the vast region between Western Europe and East Asia .
Since it opened in September 2004, the DIFC has attracted high caliber firms from around the globe as well as its region. A world-class stock exchange, the Dubai International Financial Exchange (DIFX), opened in the DIFC in September 2005
The DIFC focuses on several sectors of financial activity: Banking Services (Investment Banking, Corporate Banking & Private Banking); Capital Markets (Equity, Debt Instruments, Derivatives and Commodity Trading); Asset Management and Fund Registration; Insurance and Re-insurance; Islamic Finance & Professional Service Providers.
Registrar of Companies office is responsible for registration of legal entities in DIFC. It also has a key role in providing information on DIFC entities.
The main functions of Registrar of Companies are to:
• Incorporate/register and dissolve DIFC entities; examine and store DIFC entities information delivered under the applicable laws and regulations; and make this information available to the public.
• The role of the Registrar of Companies staff is to advise on, receive, review and process all applications submitted by prospective DIFC registrants seeking to establish a presence in the DIFC in accordance with the Companies Law, the General Partnership Law, the Limited Liability Partnerships Law, or Limited Partnership Law and the implementing regulations applicable thereto.
• Benefits of Setting up in the DIFC
Institutions establishing in the DIFC can potentially gain from the following key benefits:
• 100 percent foreign ownership.
• Zero percent tax rate on income and profits.
• An extensive tax treaty network for UAE incorporated entities.
• Freedom to repatriate capital and profits – without restrictions.
• Internationally accepted laws and regulatory processes.
• A world-class, independent, regulatory agency working alongside other financial regulatory agencies located in major global jurisdictions.
• A wholly transparent operating environment, complying with global best practices.
• A dollar denominated environment.
• An international stock exchange with primary and secondary listings of debt and equity instruments.
• A variety of legal vehicles that may be established with capital structuring flexibility.
• A pool of skilled professionals residing in Dubai and the region.
• A modern and efficient transport, communications and internet infrastructure.
• A responsive one – stop shop service for visas, work permits and other related requirements.