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Located between East and West, the DIFC provides a safe and efficient platform for enterprises and financial institutions to enter and exit the region’s emerging markets.
The DIFC’s independent regulation, common law framework, enabling infrastructure, and tax-friendly regime provide an ideal platform for capitalizing on the constantly growing need for financial and commercial services in the region. DIFC links London and New York in the West with Hong Kong and Tokyo in the East for a global financial centre. The bank’s key values of integrity, transparency, and efficiency guide it in meeting the region’s rising financial demands.
An independent risk-based regulator, the Dubai Financial Services Authority (DFSA), provides licences and oversees all banking and financial institutions in DIFC. The regulating body was established based on primary statutes, similar to those applied in London and New York. By establishing a sound, stable, secure, and growth-oriented framework for financial institutions, the DFSA has played an important role.
Because its legal system is based on English common law, the DIFC is unique. In addition to its own civil and commercial regulations, DIFC has a complete code of law governing financial services regulation owing to its structure. As part of its sovereignty, DIFC has established its own judicial system. In the DIFC, the courts are responsible for ensuring that justice is effectively implemented. Licensed bodies and companies in the DIFC and/or those registered in the DIFC are subject to the exclusive jurisdiction of the DIFC Courts.
Subsidiaries and incorporated entities have 100 per cent ownership in DIFC, as well as a world-class regulatory framework that provides for a variety of legal entity structures.
The Dubai Financial Services Authority (DFSA), an independent risk-based regulator, awards licences and oversees financial services conducted through DIFC.
The DIFC’s legal system and courts are based on a Common Law framework that is overseen by an independent and well-respected regulator and adjudicated by a court system that is similarly well-respected.
DIFC provides a platform for organisations to centralise regional and worldwide operations management, as well as its deployment to global branches.
Companies based in the DIFC incur no capital or profit flow limitations, and there are no currency exchange regulations in the US-dollar denominated jurisdiction.
DIFC offers a 40-year tax-free guarantee on company earnings and revenue, backed up by the UAE’s extensive network of double taxation treaties with regulators and central banks.
Entities wishing to establish and conduct business in the DIFC must first apply for a DIFC entity’s incorporation or registration. They can do so by applying to the Registrar of Companies (ROC), who will advise, receive, review, and process all applications. A complete checklist of required paperwork and accompanying documents will be provided by the ROC.
Companies Law, General Partnership Law, Limited Liability Partnership Law, and Limited Partnership Law will establish the registrant’s entity structures. A Commercial License, as well as a certificate of incorporation, registration, or continuation, will be issued by the ROC.
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Definitely, Alya Auditors is the one partner you need to ensure your business is built on accurate accounting books certainly, to spearhead greater growth and wider market reach.
An association of legally independent auditing & accounting firms in the UAE
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Sharjah Airport Free Zone PO Box: 120403 Sharjah, UAE.
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