Setting Up Corporate Offices in the DIFC
Setting Up Corporate Offices in the DIFC
Reasons for Setting up a Corporate Office in DIFC
Being one of the two financial free zones in UAE, DIFC offers 100% foreign ownership as opposed to incorporating a financial services firm in mainland Dubai. It is the strategic location connecting two economies: the MEASA on one side and Europe & America on the other.
DIFC provides a secure and attractive legal structure, not available anywhere else in the region and makes it an ideal destination for corporate offices including other management entities e.g. holding companies, Proprietary investment companies, prescribed companies and single family offices.
Advantages for Setting Up a Corporate Office in DIFC
1. Legal & Regulatory Framework
- Supports cross border activities
- Permits 100% foreign ownership
- Unrestricted capital repatriation
- Unrestricted foreign employees
2. Tax Benefits
- Zero Tax guarantee for 40 years on corporate income and profits
- Wide network of double tax avoidance treaties with regulators and central banks
- Zero Tax on employee income
3. Geographical Location
- The MEASA fast becoming the centre of global economy
- Strategically located to leverage emerging market potential
- Central role in south' south trade mainly between Asia and Africa
4. Counterparty Confidence
- Independent regulator
- Independent, English speaking with common judicial system
- DFSA's counterparty regulatory framework recognized at par with that of EU
- Reduces legal and defaulting risks
5. Tax Benefits
- High concentration of multinational firms, investment funds, wealth management companies, banks and financial institutions
- The largest fund domicile
- Globally reputed regional and international Auditing and Law firms, and availability of all professional services
- Central to regional deal making
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Types of Corporate Offices in DIFC
Both financial and non-financial corporate offices can be set up in the DIFC district.
Financial firms with offices in other world markets can use their DIFC setup to cover the time difference between London and Europe in the West and Mumbai and Shanghai in the East.
Following financial services activities can be carried out from the DIFC
- Fund Management
- Asset Management
- Private Banking
- Investment Advisory Services
- Investment Banking
- Brokerage Business
All successful global financial centers promote broad based economic activity and non-financial firms provide goods and services to the financial companies which they require for efficient operations.
Non-financial firms include business consultancy companies, law firms, professional service providers, translation and traveling agencies.
Employees engaged in financial firms also look for attractive lifestyle and personal services such as saloons, tailoring, restaurants, coffee bars, gymnasiums and other retail outlets.
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