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Dubai International Financial Centre( DIFC) is one of the Dubai Free Zones which provides a safe and effective platform for businesses and fiscal institutions to enter and exit the region's arising requests.
DIFC's quality and range of independent regulation, law frame, probative structure, and duty-friendly governance make it the ideal base for staking on the region's fleetly growing demand for fiscal and business services.
The legislative system of DIFC makes it unique. It is grounded on English common law and is home to a different range of fiscal and non-financial enterprises across the globe.
Its business sectors include banking, professional services, global pots, insurance, and wealth management.
Establishing a Regulated Entity in the DIFC
Applicants must submit their application through the DIFC regulatory body, the Dubai Financial Services Authority (DFSA), which will evaluate the applicant's merits and suitability and the license category for the application. According to the DIFA certain steps have to be followed:
Applicants must provide the following minimum information:
Establishment of the Non-Regulated Entity in the DIFC
Non-Regulated entities are those established in the DIFC and have as their business conditioning that doesn't fall under the Financial Service Provider type. Similar types are those established to monitor, check, and support the applicant's other companies in terms of back-office administrative operations.
Among the non-regulated entities established in the DIFC are restaurants and recruitment agencies
Non-regulated realities must have a share capital of at least $ 50,000 paid upon incorporation. Aspirants seeking to establish non-regulated companies must submit a detailed business plan for their operation. It is subject to DIFC blessing.
The registration fees of USD 21,000 must be paid. It includes the fees for incorporating a company in the DIFC (USD 8,000), the annual commercial license fee(USD 12,000), and the data security figure.
The application fee for enrollment in retail outlets is USD 3,400, and the annual commercial license fee is USD 5,100.
Establishing a Designated Non-Financial Business or Profession (" DNFBP ")
The DIFCA business that qualifies for DNFBP registration must apply to the DFSA.
The DFSA will consider such an application based on the merits and suitability of the applicant firm.
Applicants can also establish a Company Limited by Shares (Limited) or a Limited Liability Company (LLC), or establish a branch office of an existing foreign company (Recognised Company).
For any legal queries or information, contact ask@tlr.ae or call us on +971526443004
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