INCORP

Menu
+971 4 2500290

DIFC as a Global Financial Hub

Why Financial Companies Choose DIFC?

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 business setup Dubai, 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 l

There are enormous opportunities for all financial services companies in the Middle East, Africa, and South Asia (MEASA) region. Strong economic and demographic growth, alongside high levels of wealth, give all financial services companies potential to expand existing business and develop new customers.

Who regulate Financial Entities in DIFC?

The Dubai Financial Service Authority is the independent regulator of financial services conducted in or from the DIFC, a purpose-built financial free zone in Dubai, UAE.

The DFSA’s regulatory mandate includes asset management, banking and credit services, dealing in investments, investment advice, collective investment funds, custody and trust services, Islamic finance, insurance, financial technology, crypto and investment tokens, money services, capital markets, crowdfunding, an international equities exchange, and an international commodities derivatives exchange.

In addition to regulating financial and ancillary services (such as auditors) in the DIFC, the DFSA is responsible for supervising and enforcing anti-money laundering (AML) and counter-terrorist financing (CTF) requirements applicable in the DIFC to its regulated community.

1. DIFC Banking and Capital Markets

DIFC offers the number one location in the region to tap into this dynamic environment. The city of Dubai sits at the heart of emerging markets that are demanding a full range of commercial and wholesale banking services. For banks, this presents enormous opportunities to expand existing businesses and develop new customers. Expanding wealth, accelerating cross-border trade, growing investment and continued M&A activity reflect this opportunity.

Banks enjoy managing global deals and structuring financial transactions in a DIFC market that is approaching USD 1 trillion of activity. DIFC asset managers oversee nearly USD 500 bn in AUM from private and public markets in the region.

The banking and capital market focus within DIFC includes companies operating across a wide range of sectors, including banking activities including, but not limited to, corporate banking, lending, trade finance, crowd funding platforms, cash management and services supporting corporate treasuries. The banking and capital market within DIFC includes companies operating in the following main financial areas:

  • Corporate Banking
  • Private Banking
  • Investment Banking
  • Brokerage
  • Capital Market

 

2. DIFC Wealth and Asset Management

DIFC is the preferred choice for Wealth and Asset Management firms in the MEASA Region. Wealth and Asset Management firms benefit from The Centre’s advanced international ecosystem of:

  • World class regulatory legal and regulatory framework.
  • Collaborative approach between clients, regulator and authorities.
  • USD 450bn+ DIFC Wealth and Asset industry size.
  • USD 165bn AUM managed within DIFC.
  • There are 330+ companies in Wealth and Asset Management firm as of today.

DIFC recently launched the Family Wealth Centre to support family businesses and UHNWIs manage their wealth. This is the first of its kind in the world and comes as it is estimated that AED 3.67tn in assets will be transferred to the next generation in the Middle East during the next decade.

DIFC has the following focus areas under wealth and asset management:

  • Wealth Management
  • Asset Management
  • Fund Management
  • Private Equity
  • Hedge Funds
  • Venture Capital Firms

 

3. DIFC Insurance and Reinsurance

DIFC is the preferred choice for insurance and reinsurance companies in the region, with over USD 2bn gross written premiums annually.

To support the industry, DIFC offers a world-class legal and regulatory system. DIFC laws and regulations accommodate multiple areas of practice in all life and non-life and Islamic (takaful and retakaful) lines of insurance and reinsurance. The Centre offers reasonable capitalisation requirements and a risk-based capital approach that puts no up-front restrictions on insurers’ capital investment strategies.

DIFC also provides an attractive environment for captive insurance companies, with regulations that permit single parent, association, and group captives. New opportunities in the industry are fuelled by a low base of insurance coverage, increasing health insurance mandates, and trillions of dollars in projects. The region also offers exciting niche opportunities in cyber risk, trade credit, political risk and financial lines.

All regulated companies follow the same set-up process. A range of licences are available, however, for different insurance and reinsurance activities. This includes licences for effecting contracts of insurance, client relationship management licences, and representative office licences (for marketing, promotions, and referrals). Smaller captive insurance companies that don’t have sufficient size to justify a captive can implement DIFC’s Protective Cell Companies structure, which offers lower formation costs and capital requirements.

How can INCORP by ECAG can help you with business setup in Dubai DIFC?

As setting up business in DIFC required to follow global standard and the DFSA has imposed various compliance requirement for Setting up a Financial Business in DIFC for protection of investor and business.

So, The business often uses business consultant who are expertise in business setup services to meet the requirement of DFSA, ECAG is one of the leading business consultant in Dubai who can provide the following services:

  • Business plan preparation: we will drafting a comprehensive business plan that aligns with DFSA requirements, covering the company’s operations, financial projections, and organizational structure.
  • Company formation documents: INCORP can help prepare and review key documents such as Regulatory business plan, the Memorandum and Articles of Association, Board Resolutions, and shareholder information.
  • Compliance with Anti-Money Laundering (AML) Regulations: Assistance in understanding and fulfilling DFSA stringent AML and compliance requirements.
  • 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,
  • Office space: INCORP offers assistance with finding and leasing office space within the DIFC zone. we ensure compliance with the DIFC requirement of maintaining a physical office in the zone.
  • Opening Bank Accounts: Facilitating the opening of corporate bank accounts with banks operating within DIFC, ensuring that your financial entity can manage its finances seamlessly from the start
  • PRO services: Assist with obtaining employee visas and permits for business owners, directors, and staff.