Important Provisions of the New SPV Regime in Dubai International Finance Center (DIFC)
The Board of directors of DIFC have approved the regime for establishment of intermediate special purpose vehicles on 19 September, 2016 which shall come into force with immediate effect. It will again be innovative initiative by the DIFC that will allow the limited and listed companies in DIFC to enjoy the benefits of having an […]
DIFC proposed New Law for Electronic Transactions
The DIFC is aiming to soon enact New Electronics Transactions Law with the objective of facilitating various electronic transactions, to eliminate barriers thereto which are cause of uncertainties over writing and signature requirements, and further for promotion of development of the legal and business infrastructure required for implementation of secure electronic transactions in DIFC and […]
Dubai International Financial Centre (DIFC) Intermediary Special Purpose Vehicle Regime
On 19th September 2016 Intermediate Special Purpose Regime (“Intermediate SPV”) was approved by DIFC Board of Directors with immediate effect. The Intermediate SPV regime applies to entities that are already present in the DIFC provided that they meet certain criteria (see below). Discussions with a number of DIFC entities and professional advisory firms have led […]
Free zones in the UAE
A Free zone (FZ) entity is the UAE offers many tax and business possibilities. The establishment of free zones (FZs) in the UAE has been one of the most significant and promising initiate pursued to attract foreign investments. Dubai was the first emirate to establish a FZ in Jebel Ali. The main advantages of being […]
DIFC sets up Dispute Settlement Authority
Amendments to the laws governing the Dubai International Financial Centre (DIFC), a free zone in Dubai recently announced by Mohammed bin Rashid Al Maktoum, the Vice President of the United Arab Emirates and ruler of Dubai. The amendments include the establishment of a disputes settlement authority and the new authority will be an independent corporate […]
Dubai Regulator Strengthens Links with Hong Kong, Asia
In order to further strengthen the relations in financial services between Dubai, Hong Kong and Asia, the Chairman of the Dubai Financial Services Authority (DFSA), Mr Saeb Eigner, delivered an address in the seventh Asian Financial Forum, Hong Kong. The forum was attended by 2,400 delegates from Asia, Europe and America, where finance ministers, central […]