DIFC
Free Zone
Approximate Processing Time
License:
Establishment card
Visa application process
E-channel
2-3 business days
3-5 business days
7 business days
24 hours
DIFC
Free Zone
License:
Establishment card
Visa application process
E-channel
2-3 business days
3-5 business days
7 business days
24 hours
"UAE Companies demonstrate a culture of innovation and excellence, driven by a dynamic and skilled workforce. Their ability to adapt to an ever-changing business landscape is a reflection of the UAE's commitment to progress and success."
Dubai International Financial Centre (DIFC)
The Dubai International Financial Centre (DIFC) is a financial-free zone located in Dubai, United Arab Emirates. It was established in 2004 and is home to more than 2,500 companies, including many of the world’s leading financial institutions. Here are some key facts about the DIFC free zone:
Business advantages of setting up a company in DIFC:
- Location and Infrastructure: The DIFC is located in the heart of Dubai, with easy access to major transport links and a range of amenities. The free zone covers an area of 110 acres and includes state-of-the-art office buildings, retail outlets, restaurants, and residential apartments.
- Business Activities: The DIFC is designed for companies operating in the financial sector, including banks, investment firms, insurance companies, and wealth management firms. It also welcomes businesses that provide support services to the financial industry, such as legal, accounting, and consulting firms.
- Business Advantages: One of the key advantages of setting up a business in the DIFC is its regulatory framework, which is based on common law principles and is recognized as one of the most robust in the world. Companies operating in the DIFC also benefit from 100% foreign ownership, zero tax on income and profits, and no currency restrictions.
- Licensing: The DIFC offers several types of licenses for companies operating in the free zone, including a commercial license, a financial services license, and a professional services license. Each license has its own set of requirements and fees.
- Infrastructure: DIFC is home to some of the world's most prominent financial and business institutions, making it a hub for business, investment and wealth management. The free zone also provides access to world-class infrastructure and facilities, including conference and event spaces, a world-class financial academy, and a dedicated commercial court.
Learning Path
DIFC Free Zone is designed for companies operating in the financial sector, including banks, investment firms, insurance companies, wealth management firms, and other support services to the financial industry such as legal, accounting, and consulting firms.
Yes, there is a minimum capital requirement for setting up a business in DIFC Free Zone. The minimum capital requirement varies depending on the type of business activity, but it typically ranges from USD 10,000 to USD 50,000.
If you plan to set up a new company that will be involved in providing consultancy services, trading or even in providing event or music services, you might want to consider UAQ free trade zone. They tend to offer affordable solutions and allow a wide range of business activities to be performed.
No, there are no restrictions on hiring employees from outside the UAE in DIFC Free Zone. Companies operating in the free zone can hire employees from any country, subject to the relevant visa and work permit requirements.
Approximate Processing Time
The processing time for setting up a business in Dubai International Financial Centre (DIFC) Free Zone can vary depending on several factors, including the type of license, the nature of the business activity, and the completeness of the application. Generally, the process can take between 2-4 weeks for a straightforward application, but it can take longer for more complex applications.
It is important to note that the processing time can be expedited by engaging the services of a professional consultant who can assist with the application process and ensure that all requirements are met. Additionally, DIFC Free Zone offers a fast-track service for companies looking to set up a business quickly, which can significantly reduce the processing time. The fast-track service is available for an additional fee and can help businesses establish a presence in the free zone in as little as 1-2 working days.
It is recommended that businesses consult with a professional consultant or engage with DIFC’s customer service representatives to get a better understanding of the expected processing time and requirements for their specific business activity.
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