07 Nov Dubai International Financial Centre
It extends over an area of 110 hectares and has been established with the aim of creating an environment that promotes development, progress and economic development in the United Arab Emirates. access to the region’s markets through internationally recognized legal and commercial practices, As well as by providing suitable infrastructure in line with international standards.
It is distinguished by its strategic location between the different time zones in the east and west of the Earth. The center is surrounded by a rapidly growing area rich in natural resources. It also has a favorable tax system for businesses.
Government institutions in the global financial center
The Dubai International Financial Center area includes the Ministry of Finance and the Department of Economic Development. The latter aims to regulate, manage and promote trade and industry affairs within the Emirate of Dubai. It provides many services, including those related to licensing procedures, commercial oversight and consumer protection. This is within the framework of its endeavor to provide many facilities for investors in the emirate.
Banks in the Dubai International Financial Centre
The area is full of bank branches that are spread everywhere. Among the banks located in the region are the following:
Commercial Bank of Dubai
Doha Bank
National Bank of Abu Dhabi
First Abu Dhabi Bank
HSBC Bank Middle East Limited
Center goals
The Dubai International Financial Center was established for several reasons and objectives, most notably
Creating a financial center based on the principles of efficiency and transparency with the aim of providing effective services in the field of international financial services.
Enhancing the emirate’s position as a leading international financial center.
Developing the emirate’s economy.
Entities registered in the Dubai International Financial Center:
Limited Share Companies – The Dubai Financial Center offers limited share companies the opportunity to raise capital through offering shares in the form of public subscription and issuance of securities as well. It is considered necessary to have at least one shareholder.
Limited Liability Companies – A limited liability company is not subject to the regulations of the Dubai International Financial Center and does not issue securities.
Recognized Companies – A Recognized Company is a registered branch of a foreign company already present in the DIFC. A recognized company is not a separate legal entity; Rather, it is merely an extension of a company established abroad.
General Partnership – This partnership is concluded by two or more persons, All partners are jointly and severally liable. About the debts and obligations of the partnership.
Limited Partnership – This partnership is formed by two or more persons, It must include at least one general partner whose liability is unlimited, And one partner whose responsibility is limited to his contribution to the partnership.
Special Purpose Company – This type of company must be licensed under the umbrella of the Dubai International Financial Center Authority.
Limited liability partnerships can be registered, or general partnerships or limited partnerships already in the DIFC.
The DIFC Authority allows foreign companies to relocate to the DIFC (provided that the foreign company is authorized to do so in accordance with the laws of the jurisdiction of incorporation).
Non-regulated entities are those that are established in the DIFC but are not involved in carrying out a financial service (as defined in the DFSA regulations) or are not subject to one or more of the exemptions provided in the DFSA regulations Finance. Examples of these entities are: holding companies, companies investing in real estate, companies that carry out support activities and technical support activities, and service providers such as recruitment agencies, restaurants, cafes and bars.
Businesses and activities declared within the center
Financial and banking services, including investment businesses, commercial banks, finance companies, wholesale trade, and electronic banking.
Insurance, reinsurance and insurance brokerage services, including property insurance, accident insurance and other types of insurance and any other related services.
Trading in securities, commodities, derivatives and other similar financial services and providing advice thereon.
Money management, investment services and investment fund services, For the purpose of financing projects and providing capital for companies and institutions in all investment fields.
Services of pension funds and investment funds
Mediation, settlement and depository.
Investing in all types of business and activities that are practiced in the center.
Auditing, accounting, legal services, and any other services related to financial and banking businesses and activities.
Business and support services, support and classification services, and information services for businesses and financial and banking activities.
Dubai International Financial Centre
The Dubai International Financial Center Authority, known as ” DIFC “.
The Dubai Financial Services Authority, known as “ DFSA ” .
Dubai International Financial Center Judicial.
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