Start your Business Journey in the DIFC Free Zone with MSZ Consultancy!
Established in 2004, the Dubai International Financial Centre (DIFC) is one of the fastest-growing international financial centers in the world! This free zone attracts large firms from across the globe due to its efficiency and transparency. It’s also home to the Dubai International Financial Exchange (DIFX), a world-class stock exchange.
This free zone is designed to help bridge the gap between the world’s largest financial centers like New York, Hong Kong, and London. It also features a robust legal system that offers new investors and shareholders a secure and stable business platform.
Documents Required for Company Formation
When applying for your business license in the DIFC, you’ll need to gather the appropriate documents to submit. These include:
- Passport copies for each of the shareholders
- Proof of initial approval
- An information sheet for each shareholder and manager
- A passport copy and a C.V. for the manager
- A notarized power of attorney (for businesses using third-party consultants)
- A lease agreement documenting your legal business office address.
- A board resolution from the board of directors authorizing the setup of a new branch.
- A notarized Memorandum of Association, Articles of Association.
- A certificate of incorporation- if necessary.
The Company Formation Process in the DIFC Free Zone
Setting up a company in the DIFC free zone is designed to be fairly straightforward and efficient. However, it’s always helpful to have a thorough understanding of the process. In fact, many investors choose to hire third-party consultants familiar with local UAE laws and customs to help them navigate the application process.
1. Choose Your Legal Form
Every new company will need to choose its legal structure. These forms are typically split into Limited Liability Companies, branch offices, partnerships, or a company limited by shares. This procedure will dictate how a business will handle all legal and financial matters moving forward.
2. Choose Your Business Activity
Investors hoping for success will need a keen understanding of what type of business they intend to conduct, the product they’re selling, and the market forecast surrounding that service or product. There are many different business activities available in the DIFC free zone. These are divided into categories that include finance, non-financial, retail, and non-retail activities.
3. Pick a Business Name
For your application, you’ll be required to pick a name for your business. The governing authorities require that business names must not be deemed offensive or profane, and any names that have already been secured will be rejected. Therefore, it’s essential to keenly research what business name best fits your new company.
4. Gather Required Documents and Submit Application
At this point, you’ll need to collect all the necessary paperwork and documents and submit your application. This will also include any required fees related to DIFC business setup and proof of appropriate startup capital. Once you’ve submitted the proper documentation, you should receive initial approval.
5. Open a Bank Account
After receiving your initial approval, you’ll need to contact your local banking institution to establish checking and savings accounts for your company.
6. Receive Final Approval
After a few weeks, you should receive final approval from the governing body, and a certificate of incorporation will be issued to you. Once you’ve received this, you are legally allowed to conduct business!
Types of Licenses Available in DIFC
There are many different types of licenses available to prospective investors. These include:
-Asset Management and Fund Registration -Banking Services -Business Processing Operations -Capital Markets -Islamic Finance -Reinsurance & Captive Insurance
Benefits of Company Formation in DIFC Free Zone
There are many different advantages to forming your new company in the DIFC Free Zone. Between tax-friendly incentives, a convenient geographic location, and incredible infrastructure, there’s something for just about every professional! Below, we’ve gathered a few of the most notable advantages for investors forming a business in the region:
- Companies forming in the DIFC are allowed 100% foreign ownership.
- Internationally accepted laws and standards surrounding regulatory processes.
- No tax rates on income or profits.
- 100% Repatriation of funds, including capital and profits.
- A large pool of skilled workers and professionals.
- An international stock exchange system that features both primary and secondary listings for debt and equity.
- One of the most relaxed immigration policies in the world, with plentiful options for visas and work permits.
- A well-organized infrastructure including transportation, communications, and internet connectivity.
- Strict money laundering laws.
- Streamlined online application processes.
- Advantageously located for international trade and travel.
- An open, multi-cultural business environment.
- Extensive tax agreements with other UAE entities.
- A robust legal structure that values privacy and asset protections.
- State-of-the-art office accommodations.
MSZ Consultancy Can Help!
The best time to start your new business was yesterday. But the second-best time is now! The UAE is host to one of the largest and most robust economies in the world. By combining this powerful market with fantastic financial and tax incentives, the business opportunities are virtually endless! And that’s where MSZ Consultancy comes in!
What We Do?
MSZ Consultancy is a professional business consulting service dedicated to helping new investors navigate the intricacies of business formation in the UAE. With a skilled team of experts, we understand the ins and outs of conducting business in the DIFC free zone. Whether you’re a smaller business or a larger corporate branch, we have the expertise to help!
How We Help?
We handle it all! Whether you need help with business formation, visa applications, license renewals, or local sponsorships and PRO services, we have the answer! MSZ Consultancy covers many business needs to ensure that you always put your best foot forward. No matter whether you’re a single investor or a large corporate branch.
Why Choose MSZ?
Our team of business and legal professionals have over 12 years of experience helping business professionals traverse the often rocky terrain of business setup. And with over 32,000 happy customers, we have the expertise to help you! Give us a call today at xxx-xxx-xxxx and let our knowledgeable team assist you!
Business Opportunities in the DIFC Free Zone
The UAE economy is booming, even when facing the uncertainties of the pandemic. Despite these setbacks, there has never been a better time to start your new company in the DIFC free zone. This financial center offers a ton of different business opportunities for business owners and investors. Some of these include:
Banking
Banks are some of the most important facets in the UAE market, and choosing to enter the banking sector can provide extensive financial opportunities.
Private Banking
For investors wanting a private customized banking experience.
Investment Banking
Aside from simple checking and savings accounts, some banking institutions will also handle business investments. This type of banking service allows customers to invest their money safely.
Financial Brokerage
Financial brokerage firms often buy and sell stocks, options, and bonds on behalf of clients.
Capital Markets
Capital markets are venues dedicated to facilitating stock and bond exchanges for investors and shareholders.
Insurance, Reinsurance & Captives
The insurance and reinsurance industries are expansive in the DIFC free zone and offer an extensive array of business opportunities for investors.
Fund and Asset Management
The Asset management sector offers significant opportunities for new companies hoping to enter the financial sector.
Call us today at +971 52 544 1248 for a free consultation about how we can help you!
