Advantages of registering a company in DIFC (Dubai)
DIFC is a federal FEZ created to attract Western companies to the country’s financial sector. It is one of the leading financial centers in the world, and firms operating in the zone are offered many advantages:
- the right of 100% ownership of the company by a foreign founder;
- no taxes on personal and corporate income;
- a large selection of activities offered;
- possibility of obtaining resident visas;
- no restrictions on foreign exchange transactions;
- the possibility of free and unlimited repatriation of profits and capital;
- well-developed infrastructure, use of modern communication technologies and the Internet.
Free Zone DIFC has created a transparent business environment that meets international standards and global best practices, with a high level of operational support.
Types of companies in the DIFC Free Zone
The following types of companies are allowed to register in the Dubai International Financial Centre:
- Company Limited by Shares (LTD) – limited liability companies. They are allowed to issue shares in order to increase the authorized capital;
- Limited Liability Company (LLC) – companies with limited liability;
- Limited Liability Partnership (LLP) – a limited partnership created by 2 or 3 founders. Their liability is limited according to their personal contribution to the partnership;
- Limited Partnership (LP) – a limited partnership with 2 or more partners, at least one of which is the general founder with full responsibility. The remaining partners distribute responsibility according to their contributions;
- General Partnership (GP) – a general partnership created by 2 or more persons having equal responsibility;
- Recognised Company (RC) – representative offices of foreign companies;
- Special Purpose Companies – companies created for a special purpose. They are licensed and subject to the governing body of the DIFC.
Activities that can be registered in DIFC FREEZONE
|
CATEGORY – 1 |
CATEGORY – 2 |
CATEGORY – 3A |
CATEGORY – 3B |
CATEGORY – 3C |
CATEGORY – 4 |
CATEGORY – 5 |
|---|---|---|---|---|---|---|
|
Deposits acceptance |
Operations with investments as main income (without raising fixed capital) |
Operations with investments as main income (only with the attraction of fixed capital) |
Provision of the depository to public organizations |
Management of the joint investment fund |
Support of loans or investments deals |
Islamic financial institution that manages PSIAu |
|
PSIAu management |
Provision of credit |
Mediation activities |
Managing an organization |
Asset management |
Consulting on financial products and loans |
– |
|
License – Up to 5 types of activities – Commercial/Service |
– |
– |
– |
Provision of intermediary services |
Depository creation |
– |
|
Utilities |
– |
– |
– |
PSIAu management |
Insurance mediation |
– |
| Certificate of registration | – | – | – | Depository provision (except for public organizations) | Insurance management | – |
| Business license | – | – | – | – | Fund administration | – |
| Information about the share owner – License 2 | – | – | – | – | Provision of intermediary services, except for express-trusts | – |
Notes:
Financial services, which are listed in the cells in bold, are the determining factors for the prudential segment. The activities shown in the cells of the table are financial services (see Chapter 2 GEN).
The financial services that a company has the right to provide are specified in its license.
If a person provides one or more of the financial services listed in the bold boxes within a specific category, then the priority will be to address specific ongoing needs. Additional information regarding basic capital requirements and its minimum amount can be found in the DFSA Articles of Association in chapter PIB sections 3.5, 3.6 and 3.7.
Types of licenses in the DIFC Free Zone
For companies registered in the DIFC free zone (Dubai), licenses are provided for the following types of activities:
- provision of banking services;
- work in the field of Islamic finance;
- work with capital markets;
- banking operations for capital processing;
- insurance.
Companies not engaged in the finance and insurance industry may be registered by unregulated legal entities, for which a commercial license is provided. It allows you to open retail stores, medical clinics, business service points, cafes and restaurants, consulting, notary, auditing and other firms in DIFC.
Documents required for company registration in DIFC
The list of documents required to register a company in the DIFC Free Zone depends on the type of company and type of activity. In general, you will definitely need:
- charter of the registered company;
- passports (copies) of founders and directors;
- detailed business plan;
- diagram of the organizational structure offered;
- constituent documents of a legal entity, if it acts as a shareholder;
- certified statements of the founders for the last 3 years.
Find out what documents are needed in your particular case from the specialists of Dynasty Business Adviser.
Cost of registering a company in the DIFC Free Zone
To open a company in the DIFC free zone, you need authorized capital. Depending on the type of activity, its size ranges from $50 thousand to $10 million. The cost of registration includes:
- registration fee ($8000);
- license cost;
- office rental price – it depends on the required area;
- costs associated with opening a bank account and obtaining resident visas;
- other costs for obtaining additional documents, for example Establishment card.
|
Company registration at Dubai International Financial Center Fintech License |
2050 USD |
|---|---|
| Flexidesk gives the right to get 4 visas for the company |
6,400 USD |
|
Dynasty Business Adviser Professional Services:
|
4,000 USD |
|
Total |
12,450 USD |
The cost of renting an office of 80 m2 in DIFC starts from $40,000 per year.
Registration of an investment company in DIFC with the capital management type of activity
The term of company registration is not less than 2 months and not more than 3 months.
| COMPANY REGISTRATION AT DUBAI INTERNATIONAL FINANCIAL CENTER | Price |
|---|---|
|
50,250 USD |
|
Dynasty Business Adviser Professional Services:
|
10,000 USD |
|
Total |
60,250 USD |
| TYPE | COST, USD |
|---|---|
|
Dubai Financial Conduct Authority (DFSA) |
25000 yearly |
|
Dubai International Finance Center (DIFC) Registration Fee |
12000 one-time payment |
|
DIFC license |
12000 yearly |
|
Data center services (information protection) |
1250 yearly |
These companies have a requirement for the authorized capital from $500,000; you can declare higher.
The cost of renting an office (4 mandatory positions in the company) is at least 10 m2 per person. (from 30k dollars per year for 50m2).
Benefits of Dynasty Business Adviser for company registration in DIFC
You can open a company in Dubai, in the DIFC Free Economic Zone, with minimal effort and time, by contacting the specialists of Dynasty Business Adviser. We operate in the UAE and are a licensed registrar of onshore and offshore companies in the Emirates. With our help, you will register a company in the DIFC FEZ quickly and without problems, visiting the country only once to open a bank account.
