Setting up your dream business in the Dubai International Financial Centre (DIFC) offers entrepreneurs a strategic gateway to the Middle East’s thriving business world. As one of the world’s leading financial centers, the DIFC provides a conducive environment for establishing and growing businesses across various sectors. If you are into business setup in DIFC, this information will be helpful for you.
Choose specific business activities:
Identify the specific business activities you intend to engage in within the DIFC jurisdiction. Ensure your chosen activities are permissible under DIFC regulations and align with the center’s focus on financial services, professional services, and technology.
Submit application:
Prepare and submit the necessary application forms, documentation, and fees to the DIFC Authority or licensed service providers. The application process may vary depending on your chosen business structure and activities.
Obtain the relevant business license:
Upon approval of your application, obtain the relevant business license from the DIFC Authority. The DIFC offers several types of licenses, including financial services, non-financial services, retail, and ancillary services licenses, tailored to different business activities.
Secure office space:
Secure office space within the DIFC precinct to establish your business presence. The DIFC offers state-of-the-art office facilities, coworking spaces, and business centers equipped with modern amenities and infrastructure to support your operations.
Open bank account:
Open a corporate bank account with a reputable bank operating within the DIFC jurisdiction. Choose a bank that offers tailored banking solutions, digital banking services, and support for international transactions to meet your business needs.
Hire employees:
Recruit and hire employees to support your business operations within the DIFC. Ensure compliance with DIFC employment regulations, including employment contracts, visa sponsorship, and employee benefits.
Register with relevant regulatory authorities:
Register with relevant regulatory authorities within the DIFC, such as the Dubai Financial Services Authority (DFSA) for financial services firms or the Registrar of Companies (ROC) for non-financial services firms. Comply with regulatory requirements and reporting obligations to maintain legal compliance. In addition, if you plan to reside in the UAE and operate your business from the DIFC, obtain residence visas for yourself and eligible family members. The DIFC Authority provides visa sponsorship services to registered companies and their employees.
