Dubai International Financial Centre Introduces New Licensing Categories
by Chanttal Huertas | JUL 31, 2019
Dubai International Financial Centre (DIFC) is the leading financial capital in the Middle East, Africa and South Asia (MEASA) region.
As one of Dubai's independent free-zones, with its own legal and regulatory framework and judicial system, global financial exchange, tax-friendly regime, and a large business community, DIFC is persistent in supporting its businesses to grow by introducing new licensing categories under its operating Laws and Regulations.
The newly introduced categories come with reduced license fees and allow more firms to start conducting business in the DIFC.
- Short Term License: Under this category, it is now possible for retail businesses and other non-financial companies to operate from DIFC at a competitive cost, depending on the duration of license required.
- Restricted License: This license is applicable to firms interested in developing or testing out new, innovative products and services in the DIFC. These initiatives are encouraged by DIFC as this would allow incubators and startups to flourish within the DIFC environment.
- Commercial Permissions License: This license would allow both DIFC and non-DIFC entities such as event companies, promotion companies, retail outlets, seminars and educational services to conduct their business activities within the DIFC for a competitive fee.
- Dual Licensing: This license will allow the firms which are under the license of Department of Economic Development (DED) such as law firms, audit consultancy firms, family businesses, holding companies and corporate service providers to operate in the DIFC with an affiliate
To know more, please contact our Corporate Services team at email@example.com.