Business Consultants In Dubai: Local Sponsor in UAE

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Read Article on: https://www.kwsme.com/start-your-interior-designing-business-in-Dubai

Established in September 2004, Dubai International Financial Centre (DIFC) is the world’s fastest growing international financial center, that caters to the financial needs of the region. This federal financial free zone aims to develop to the same stature as New York, London, Tokyo and Hong Kong, and primarily serves the global financial centers between Western Europe and East Asia due to the time-zone advantage. Since its establishment, DIFC has attracted top-notch firms across the globe, owing to its efficiency, operational transparency and core value of integrity. DIFC is home to a world-class stock exchange, the Dubai International Financial Exchange (DIFX), which was opened in September 2005.

This onshore financial center is set up in a sprawling area of about 110 acres and has a distinct legal system with absolute jurisdiction over matters related to employment, corporate security, commercial trusts and civil bodies. Dubai Financial Services Authority (DFSA) is an independent risk-based regulator and the governing body that regulates financial and banking services conducted by DIFC and provides them a growth-oriented, secure and stable platform to conduct business. This regulatory body issues business licenses to companies planning to set up operations in this largest intercontinental financial cluster located between Singapore and Europe.

Benefits of Setting Up a Business in DIFC

No restrictions on foreign exchange
100% foreign ownership
0% tax on corporate or personal income
Full repatriation of capital and profits
Dollar denominated environment
Strict money laundering laws
State-of-the-art office accommodation, advanced technology, well-connected transport, communications and internet infrastructure
Data protection/security
Operational support and business continuity facilities of high standards
Transparent operating environment
Availability of skilled professionals
Transparent business environment complying with internationally accepted laws and regulatory processes in accordance with global best practices
An international stock exchange with debts and equity listings (primary and secondary)

Financial Activities Allowed in DIFC

Businesses operating in Dubai International Financial Centre free zone are allowed to perform the following activities in the region:

Accepting deposits
Advising on financial products
Arranging for the custody, and investment credit or deals
Carrying out contracts of insurance
Dealing in investments as agent or as principal
Effecting insurance contracts
Insurance broking and management
Managing assets
Managing profit sharing investments
Operating a collective investment scheme
Providing credit
Providing custody
Providing pecuniary services

Types of Legal Entities Allowed in DIFC

Dubai International Financial Centre offers a lucrative value chain to individual or corporate investors in the form of multiple incentives. It allows an entity (individual or corporate) to register a business in any of the following legal forms:

Company Limited by Shares
Limited Liability Company (LLC)
Branch Office
Partnership

Types of Licenses Available in DIFC

Ancillary Services
Asset Management and Fund Registration
Banking Services

Business Processing Operations
Capital Markets
Islamic Finance
Reinsurance & Captive Insurance

How to Set Up a Business in DIFC?

Dubai ensures the financial sustainability of DIFC free zone and the companies established in the center through a program of resource alignment, financial risk management, and competitive benchmarking. Not just the financial aspects, DIFC free zone is home to a privately held financial exchange, retail shops and convenience stores, along with business services outlets, medical clinics, more than 100 cafés and restaurants offering a variety of cuisines and event spaces & venues to suit any occasion. Coming to DIFC company formation, the authority does not allow companies operating in the non-financial sector. To set up a company in Dubai free zone, one needs to have a commercial license. The procedure is as follows:

Procedure to Set Up a Business in DIFC

Fill out the application form
After initial approval, move on to the registration process
Submit all the required documents with a proof of minimum share capital of the business
Open a bank account of the company
The license will be issued within a few weeks after analyzing every document provided, and the certificate of incorporation will also be issued along with it

Documents Required to Set Up a Business in DIFC

Anti-money laundering procedures and controls
Applicant company's financial position and regulatory history, in case of a branch
Company's internal audit functions and compliance system
Detailed business plan
Detailed information on operating systems and controls

Names of key controllers, major shareholders having above 5% shares, and key staff
Propriety certificate confirming the institution's fitness to conduct business
Proposed institution's organizational structure
Audited account of shareholders of the last 3 years

Why Set Up a Business in DIFC?

Dubai International Financial Centre is a perfect base for companies related to finance due to its systematic legal framework, independent regulations, tax-friendly regime and advanced infrastructure. DIFC Authority (DFCA) oversees the operational administration and strategic development of DIFC.

Company incorporation in Dubai International Financial Centre is a cherished business proposition because of the following reasons:

Unique legal framework
Financial sustainability
Developed and standard infrastructure
Client-centric policies
Vision for unhindered growth

Business setup in Dubai International Financial Center is easy if you take the assistance of a business consultant, who helps business owners and investors belonging to the financial sector with company incorporation in the free zone, so that you don’t have to worry about the legal formalities and bureaucratic red-tape. We at KWSME handle the entire business formation process in this global financial center from start-to-finish, ensuring unhindered business growth.

Complete operational transparency and client-centric procedures are the hallmarks of company setup process at KWS Middle East. Our specialized team of expert consultants treads an extra mile to guarantee hassle-free company formation experience to our clients, and ensures that our clients get all the amenities for business setup in this unmatched financial hub of the Emirates. Contact us for business setup in DIFC, our team will be glad to assist you.

Business Consultants in Dubai - October 11, 2018

Dubai International Financial Centre

Established in September 2004, Dubai International Financial Centre (DIFC) is the world’s fastest growing international financial center...

Business Consultants In Dubai

New Investment Law in UAE which allows 100% Ownership to Foreign Investors

UAE Cabinet approves new labor insurance system to replace bank guarantees for workers

Start your interior designing business in Dubai

Benefits of Setting Up a Business in DIFC

Financial Activities Allowed in DIFC

Types of Legal Entities Allowed in DIFC

Types of Licenses Available in DIFC

How to Set Up a Business in DIFC?

Procedure to Set Up a Business in DIFC

Documents Required to Set Up a Business in DIFC

Why Set Up a Business in DIFC?

Dubai International Financial Centre

Types of local sponsors required for businesses in UAE

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