What is Dubai International Financial Centre (DIFC)?

DIFC Company Formation offers businesses the opportunity to establish themselves in a premier global financial hub located in Dubai, UAE. Since its establishment in 2004, the Dubai International Financial Centre (DIFC) has been instrumental in fostering economic growth by providing a well-regulated, business-friendly environment for financial institutions, corporations, and service providers. Initially focused on financial services, DIFC has evolved into a multipurpose business district that now attracts companies from various sectors, making it an ideal choice for businesses seeking a prestigious and secure location to operate in the region.

Why Companies Choose Dubai International Financial Centre?

Dubai International Financial Centre provides a combination of legal security, regulatory support, tax efficiency, and global connectivity that appeals to both financial and non-financial companies. The strong reputation, state-of-the-art facilities, and business-friendly policies make it an ideal location for companies looking to expand or establish themselves in the region.

For companies, the DIFC offers a comprehensive, world-class business environment that combines tax efficiency, legal transparency, strategic location, and access to a thriving business ecosystem. Whether your company is focused on consulting, retail, legal, or tech services, DIFC provides an ideal platform for growth and success.

Dubai International Financial Centre business setup involves several steps, as the DIFC is a special economic zone with its own legal and regulatory framework. Here’s an overview of the process:

1. Choose the Type of Company

There are various legal structures you can choose from, depending on your business objectives:

• • • Private Company Limited by Shares (Ltd)
    • Public Company Limited by Shares (PLC)
    • Branch Office
    • Limited Liability Partnership (LLP)
    •  General Partnership (GP)
    • Recognized Company
    • Foundation
    • Holding Company
    • Prescribed Company
    • Active Enterprises
    • Non-Profit Incorporated Organizations (NPIO)

2. Initial Approval

Name Approval

Choose a name for the proposed entity. The portal will allow you to search for a name and select up to 3 options. You may also reserve a name for 90 days. check that your name is not identical to an existing entity.

Registered address

A Registered entity shall, at all times, have a registered office in the DIFC to which all communications and notices to the Registered Person may be addressed.

If you are operating from a leased or subleased unit, ensure your lease agreement is registered with DIFC Services as soon as the lease agreement is signed. If your lease is with DIFC Investments Ltd., lease registration will not be required as it will be completed automatically by DIFC Investments Ltd.

If you are sharing a space with an affiliate, tell us when completing the affiliate section on the Initial Approval application by indicating the same on the form. The portal will require you to upload an NoC issued by the lease holder. If you are operating from a purchased unit, the unit must be owned by the entity itself or by the sole shareholder or controller. If this is the case, you need to apply for a ‘Self Occupy’ certificate.

3. Prepare Business Plan & Legal Documentation

Prepare a detailed business plan that outlines the company’s activities, structure, target market, and. You’ll also need:

• • • Articles of Association: This outlines the company’s purpose and the responsibilities of its members.
    • Board Resolutions: If applicable, you’ll need resolutions from the parent company authorizing the setup.
    • Shareholder & Director Information: Information about shareholders and directors, including passports and proof of residence.

Ultimate Beneficial Owners : Confirming information regarding ultimate beneficial owners details of the proposed entity.

4. Submit Application to DIFC Authority

Documents Submission: Submit the required documents, such as the company’s constitutional documents, a business plan, and proof of registered address.

5. Approval by DIFC Registrar of Companies (ROC)

• The DIFC ROC will review your application and may request additional information.

Once the documents are verified, and fees are paid, the ROC issues a **Commercial License** and **Certificate of Incorporation**.

6. Opening a Corporate bank account in DIFC

After incorporation, you’ll need to open a corporate bank account in the UAE. DIFC-licensed businesses can bank with financial institutions within or outside DIFC.

7. Obtain DIFC business license

Once the incorporation is complete, you’ll need to apply for an operating license specific to the type of business activity you’ll be conducting. This might include:

• • • Financial Service License: (Subject to DFSA approval)
    • Non-Financial License:(for non-financial commercial activities)
    • Retail License :(if you plan to operate a retail outlet)

8. Visa Application

Once your company is set up, you can apply for employment visas for your staff through DIFC’s Government Services Office.

Who are we?

Founded in 2005, the Emirates Chartered Accountants Group (ECAG) was formed by a team of dynamic finance professionals and is an ISO 9001-2015 Certified International Chartered Accountants Firm. Headquartered in Dubai, ECAG has over 17 years of experience in serving 10,000+ multinationals and SMEs in Abu Dhabi, Bahrain, India, and the UK. Our wide range of services includes Auditing, Accounting, Taxation, Company Incorporation, and Management Consultancy.

INCORP is the Company Incorporation Department under the Emirates Chartered Accountants Group (ECAG) trademark. As a leading professional company incorporation consultant, we offer tailored services with seamless solutions, practical guidance, and proactive insights to local and expatriate business investors from all over the world. We are highly committed to consistently delivering high-quality services to all your business needs.

How can INCORP by ECAG can help you in DIFC Company Formation Procedure?

• • • Choosing the right legal structure: Whether it’s a Private Company Limited by Shares, a Branch Office, or a Limited Liability Partnership, we can help assess which structure best suits your business objectives.
    • Business plan preparation: we will drafting a comprehensive business plan that aligns with DIFC requirements, covering the company’s operations, financial projections, and organizational structure.
    • Company formation documents: INCORP can help prepare and review key documents such as the Memorandum and Articles of Association, Board Resolutions, and shareholder information.
    • Compliance assistance: we will ensure that all documents and procedures meet DIFC’s stringent regulatory requirements, reducing the chances of delays or rejections.
    • business license: we will assist in securing the appropriate license for your business, whether it’s a financial services license (regulated by DFSA), non-financial license, or retail license.
    • INCORP offers assistance with finding and leasing office space within the DIFC zone. They ensure compliance with the DIFC requirement of maintaining a physical office in the zone.
    • We will facilitate the opening of corporate bank accounts with banks in the UAE, providing support in fulfilling the bank’s compliance and documentation requirements.
    • Assist with obtaining employee visas and permits for business owners, directors, and staff.
    • Offer support in fulfilling employment law requirements, which are governed by DIFC’s unique legal framework.