Dubai International Financial Centre or simply DIFC is one of Dubai’s most important free zones. Created in 2004, DIFC is the leading financial hub for the MEASA region which comprises the Middle East, Africa, and South Asia. As a free zone, DIFC offers targeted investment options in the financial field, as its name says. Moreover, it is a preferred destination for foreign investors coming to Dubai as they can benefit from a wide range of tax advantages.
In order to from support in obtaining all the benefits this free zone offers, foreign entrepreneurs can seek advice from law firms in DIFC, including our Dubai lawyers who can offer their services to those who want to set up businesses here.
The main legal services provided by our law firm in DIFC
If you are a foreign investor and you are looking to carry out any activity here, these are the main services you can obtain with us and with the law firms established in DIFC:
- legal advice on the main laws that apply in this Dubai special economic zone;
- assistance in incorporating a free zone company in Dubai International Financial Centre;
- assistance in tax legislation applicable in DIFC, including tax planning and advice;
- guidance in applying for the necessary business permits and licenses to operate in DIFC;
- legal advice in employment matters and work permits for foreign workers.
Also, should you need assistance in other matters, our law firm in Dubai is at your service.
The main laws applicable in DIFC
One of the best reasons to choose to work directly with a law firm in DIFC is that its attorneys will guide you on the legislation applicable here. Just like any other special economic zone, DIFC has its own laws that are enforced by the Dubai International Financial Centre Authority (DIFCA).
It is worth noting that apart from the core activities that define the creation of this free zone and for which specific laws apply, there are also other regulations that apply in DIFC. Among these, we mention the following:
- the Arbitration Law;
- the Data Protection Law;
- the Intellectual Property Act;
- the Commercial Law;
- the Personal Property Law;
- the Trust Law;
- the Companies Act;
- the Electronic Transactions Act.
So, if you need information on a specific law applicable here, you can directly ask for guidance from the law firms in DIFC in order to make sure you benefit from updated information.
Business registration services available in DIFC
Most people who come to Dubai International Financial Centre focus on starting their own businesses, as the legislation here favors various types of activities, even if its main focus is the financial sector.
Our law firm in DIFC can help you set up various types of companies that are categorized as financial and non-financial ones.
In the case of financial companies, you can decide to set up businesses in any of the following fields:
- private banking;
- asset, fund and wealth management;
- insurance;
- fintech.
When it comes to the non-financial activities you can develop in this free zone, our Dubai lawyers can help you establish retail companies, but also cafes and restaurants.
If you want to operate in this free zone, the law firms in DIFC can help you register any type of company and open a local bank account which is mandatory when establishing operations here.
Applying for business licenses in DIFC
When discussing why investors usually seek for the help of DIFC law firms, the main reasons is their expertise in specific legislation. This experience can be seen when dealing with specific tasks, such as applying for business licenses available in this free zone alone.
Here are the main licenses you can obtain if you decide to open a company in Dubai, in this free zone:
- the Category 1 Financial License;
- the Category 2 Financial License;
- the Category 3A, 3B, 3C, and 3D Financial Licenses;
- the Category 4 Financial License;
- the Category 5 Financial License.
Each of them designates certain activities DIFC company may undertake, and choosing the appropriate is essential during the registration procedure.
Our Dubai lawyers are at your disposal should you decide to start a business in this free zone.
Bank account opening services available in DIFC
Nowadays, you can no longer do business anywhere without a bank account. However, when it comes to setting up an enterprise, you need a corporate bank account. For this purpose, you can rely on local services providers. Out of all law firms in DIFC, you can choose to work with our skilled lawyers who can offer both advice on how to choose a bank and the service itself.
We can help you:
- gather the documents you need to set up an account;
- file the papers;
- get updated on the status of your request.
Should you not be able to travel to the UAE to start the procedure yourself, a power of attorney granted to one of our lawyers in Dubai will be of great help. You will only need to come to complete the final phase of the process.
Immigration services in DIFC
While the procedure itself is not different than when moving to another Emirate, if you decide to set up shop in Dubai International Financial Centre, you may want to work with local law firms.
From this point of view, we have immigration lawyers that can help you:
- apply for an investment visa for Dubai, which is a great option that enables you to open a company in DIFC;
- apply for work visas for hiring or transferring foreign employees;
- apply for family reunion visas if you decide to move to Dubai with your family.
If you enter the category of digital nomads, we can also help you apply for a freelance visa for Dubai and see what is like living and working in one of the greatest free zones here.
Tax aspects to consider about the Dubai International Financial Centre
Many foreign investors who come to Dubai know that free zones have special tax regulations which is also the case of the Dubai International Financial Centre. Among these, we mention the following:
- corporate tax exemptions for 50 years;
- no duties on imports and exports;
- free repatriation of profits.
What should be noted, however, is that under UAE’s double tax treaties and depending on the investor’s country of origin, certain taxes may be paid in one’s home state. This is where the guidance of one of the law firms in DIFC is valuable, as lawyers here can offer detailed information on specific tax legislation matters. You can also watch our video below:
The Dubai International Financial Centre in numbers
If you are curious about why the Dubai International Financial Centre free zone is the largest financial hub in the MEASA region, here are some interesting facts about it:
- DIFC accounted for more than 5,500 companies at the end of 2023;
- in 2024, DIFC has become the home to 2 authorized market institutions.
- apart from law firms in Dubai, you can also rely on the expertise of 17 registered auditors.
If you need legal services in this free zone, do not hesitate to contact our law firm in DIFC for tailored assistance.