Some investors would like to know about establishing a company in the DIFC Free Zone because the DIFC is the financial center of Dubai, and is considered a federal financial free zone that was established pursuant to Federal Decree No. 35 of 2004, pursuant to UAE Federal Law No. 8 of 2004, and Dubai Law No. 12 for the year 2004. The center occupies an area of ​​110 hectares, and has its own legal system and trial, independent of the UAE courts, which specialize in matters related to companies, business, employment, investment trusts, securities, and civil affairs.

The Dubai International Financial Center aims to provide a platform for financial institutions to conduct business activities in emerging markets in the region. The center was established with the aim of creating an environment for growth, progress and economic development in the UAE, and accessing the region’s markets by providing internationally recognized legal and business practices, as well as providing appropriate infrastructure in line with international standards.

It is a financial center characterized by its strategic location between different time zones in the east and west of the Earth. The center is surrounded by a rapidly growing region rich in natural resources, has a business-friendly tax system, and adopts a laissez-faire policy regarding the return of capital and the movement of funds, and is therefore considered an unparalleled financial destination.

DIFC is a global financial center strategically located between East and West, providing a stable and secure platform for companies and financial institutions to tap into emerging markets in the Middle East, Africa and South Asia. The law framework, tax system, and conducive environment make the center an ideal meeting point to access the region’s growing demand for financial and business services.

 

Types of companies registered in the DIFC:

There are types of companies that are located in the Dubai International Financial Center. Here is a table showing the types of companies in the Dubai International Financial Center (DIFC) Free Zone:

Please note that these types are subject to change according to updates to regulations and policies in the Dubai Financial Center Free Zone. You can contact the experts of Itqan Company, the leading investment company in Dubai.

Steps to establish a company in the Dubai International Financial Center

There are some steps to establish a company in Dubai International Centre, which we have summarized in several points, which are as follows:

1. Determine the type of company: Before starting to establish a company, you must determine the type of company you wish to establish, such as a limited company, limited liability company, or sole proprietorship.
2. Obtaining an entry permit: You must obtain an entry permit to DIFC. This requires submitting an official application and submitting the required documents, including the completed registration form and a copy of the investors’ passport.
3. Choosing a location: You must choose where you would like to establish your company within DIFC, such as a building or virtual office.
4. Preparing the required documents: You must prepare the documents required to establish the company, such as the required contracts and agreements, and ensure that they comply with the bylaws and regulations of the DIFC.
5. Application and Payment: You must submit the required documents and pay the prescribed fees for company incorporation at DIFC.
6. License issuance: After meeting all conditions and requirements, you will receive your company license from DIFC. This license allows you to conduct business in the center.
7. Registration to the Commercial Registry: After obtaining the licence, you must register with the DIFC Commercial Registry and complete any additional procedures required.
8. Compliance with Legal Obligations: Once your company is established in the DIFC, you must comply with all applicable laws and regulations of the Centre, including submitting periodic financial reports and adhering to financial audits.

These are some of the basic steps for setting up a company in the Dubai International Financial Center (DIFC). You should also review the current legal requirements and regulations of the DIFC and also communicate with Itqan experts in order to obtain updated and detailed information about the legal procedures and requirements.

How can you establish a company in the free zone?

Establishing companies in the free zones in Dubai is much easier than establishing a company inside Dubai, as it can be 100% owned by any nationality, and the presence of a partner or sponsor who is a citizen of the UAE is not required, as the company is registered as a free zone establishment or it is a company belonging to The free zone or a branch or representative office in the free zone in Dubai. In this case, it is possible that the main company is outside the Emirates.

It is not required to be within the Emirates. Companies located within the free zone are regulated through the authority responsible for the free zone, which issues any licenses to the company. This is based on the location of the free zone and the activity it carries out. The type of license issued by the responsible authority varies according to the commercial activity and can Establishing a company in the free zone by following some steps, including:

• Choose the company’s location
• Agreeing on the trade name, as it is the name that distinguishes one company from another.
• Obtaining the company’s business license.
• Obtaining initial approval to start work.
• Commercial license registration.
• Complete the requirements for a commercial license and obtain it.

Establishing a company in the free zone

Establishing a company in a free zone can be an exciting and economically rewarding move. Here are some general steps that can help you with this process:

• Market study: Study the market in the free zone in which you intend to establish the company. Know the legislative, tax and regulatory requirements for establishing a company in that region.
• Choosing the type of company: Decide what type of company you want to establish, whether it is a sole proprietorship, joint-stock company or partnership, and check local laws and regulations regarding each type.
• Defining activities and objectives: Clearly define the scope of the company’s activities and objectives. This will help in developing the company’s strategic business plan.
• Registration and Licenses: Register the company and obtain the necessary licenses from the local authorities and relevant bodies in the free zone.
• Organizational Structure: Determine the company’s organizational structure in accordance with its goals and activities, and appoint the necessary employees.
• Finance and Taxes: Create a solid financial plan that includes establishment and operating costs and income and expense projections. You must also comply with local tax laws and other financial requirements.
• Marketing and Promotion: Develop an effective marketing strategy to attract customers and increase the company’s reputation in the market.
• Compliance and Monitoring: Ensure compliance with all relevant local and international regulations and laws, and establish a system to monitor company performance and ensure continued compliance.
  Establishing a company in a free zone requires good planning and preparation, so make sure you take all the necessary steps carefully and seek the help of local consultants if necessary.

Advantages of establishing a Dubai International Financial Center company

There are many advantages to establishing a DIFC company, so we have identified them for you in several points, which are as follows:

1. 100% retransfer of capital and profits abroad
2. 100% exemption from import and export duties
3. No tax is imposed on corporate gains or personal income in most cases
4. No restrictions on the use of currency
5. Low cost of operations
6. Pre-built offices, factories and warehouses
7. Fast establishment and licensing procedures
8. Single window for customs clearance; That is, multiple administrative services in one station
9. Provides labor recruitment assistance and additional support services, such as sponsorship and on-site housing
10. Abundant and inexpensive energy
11. Excellent infrastructure, communications, and attractive work environment

At the conclusion of our article, we talked about the strategic partnership between the Dubai International Financial Center and Itqan Company. Establishing a company in this context is a strategic step of great importance in enhancing the economic and financial environment in Dubai and the region. This alliance embodies a new vision for developing financial and technical capabilities, and promoting innovation and economic development in the region.

The Dubai International Financial Center represents a major gateway for international companies seeking to access regional and international markets, while Itqan Company offers its expertise and innovative techniques in the field of software development and technical solutions. This cooperation opens new horizons for companies to achieve growth and prosperity by benefiting from the advanced financial infrastructure and integrated financial services provided by the Dubai International Financial Centre.

Establishing a company in such a context gives companies access to exceptional advantages, including a flexible regulatory environment, cutting-edge fintech infrastructure, and access to a global network of companies and investors. Thus, this alliance represents an inspiring model of strategic partnerships that support sustainable economic development and enhance Dubai’s role as a global financial and technological center.

The most important frequently asked questions about establishing a Dubai Financial Center company