The Dubai International Financial Centre (DIFC) is a free-zone financial district in Dubai, United Arab Emirates (UAE). It was established in 2004 with the aim of becoming a leading international financial center and a hub for the Middle East, Africa, and South Asia (MEASA) region.
Here are some key features of the DIFC:
- Regulation: The DIFC is regulated by its own independent financial services regulator, the Dubai Financial Services Authority (DFSA), which oversees the activities of firms operating within the center.
- Taxation: The DIFC is a tax-free zone, offering companies and individuals the benefit of a tax-friendly environment.
- Infrastructure: The DIFC is equipped with world-class infrastructure and facilities, including state-of-the-art office spaces, high-end residential properties, and a range of dining and entertainment options.
- Accessibility: The DIFC is located in the heart of Dubai, with easy access to the airport, major highways, and the Dubai Metro.
- Business environment: The DIFC offers a stable and attractive business environment, with a range of incentives and support services for businesses looking to establish operations in the region.
- Types of firms: The DIFC is home to a wide range of firms, including banks, insurance companies, asset managers, and professional services firms, among others.
In conclusion, the DIFC is a strategically located and well-regarded financial center that offers a range of benefits to firms operating within its free-zone. These benefits, combined with its strong infrastructure and supportive regulatory environment, make the DIFC a popular destination for financial firms looking to establish operations in the Middle East.
Can I open office in DIFC ?
Yes, you can open an office in the Dubai International Financial Centre (DIFC). The DIFC offers a range of options for businesses looking to establish operations in the center, including serviced offices, shared work spaces, and standalone offices. In order to open an office in the DIFC, you must first obtain a license from the Dubai Financial Services Authority (DFSA), the independent regulator of the DIFC. This process typically involves submitting an application, providing relevant documentation, and paying the applicable fees.
Additionally, you may need to meet certain criteria, such as having a minimum level of capitalization and fulfilling other regulatory requirements, in order to be eligible to establish an office in the DIFC.
Overall, the DIFC offers a supportive environment for businesses looking to establish operations in the Middle East, with a range of benefits including tax-free status, world-class infrastructure, and a well-regarded regulatory environment.
How much it will cost to rent an office in DIFC ?
The cost of renting an office in the Dubai International Financial Centre (DIFC) can vary greatly depending on several factors such as the size of the office, location, and the level of finish and amenities offered.
On average, you can expect to pay anywhere from AED 10,000 to AED 80,000 per year (or more) for a serviced office in the DIFC, while the cost of a standalone office can range from AED 60,000 to AED 500,000 or more per year, depending on the size and location.
It’s important to note that these estimates are based on average prices and may not accurately reflect the current market conditions in the DIFC. In order to get a more accurate estimate, it is recommended that you speak with a real estate agent who specializes in commercial properties in the DIFC or contact the DIFC Authority directly for more information.
Overall, the cost of renting an office in the DIFC is relatively high compared to other areas in Dubai, but businesses that choose to establish operations in the center benefit from a range of advantages, including a supportive regulatory environment, world-class infrastructure, and a tax-free business environment.
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