 | This article needs additional citations for verification. (October 2021) |
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| Industry | Banking, financial services, insurance, wealth & asset management, brokerage & capital markets, professional service providers, corporate offices and retailers |
|---|---|
| Founded | 2002,[1] operations started 2004[2] |
| Headquarters | Dubai, United Arab Emirates |
Key people | Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum (President) Essa Kazim (Governor) Arif Amiri (DIFC Authority CEO) Saleh Al-Akrabi (DIFC Investments Chief Real Estate Officer) Alya Al-Zarouni (DIFC Authority COO) |
| Website | www |
The Dubai International Financial Centre (DIFC) is a special economic zone in Dubai covering 110 ha (272 acres), established in 2004 as a financial hub for companies operating throughout the Middle East, Africa, and South Asia (MEASA) markets.
DIFC is regulated by the Dubai Financial Services Authority, an independent regulator exclusive to the zone, and by its own court system, DIFC Courts, separate from the Emirate of Dubai's legal system and that of the federal government of the UAE.[3] DIFC follows the common law framework and operates in English.[4]
DIFC is one of Dubai's independent free zones; it offers companies 100% ownership without the need for a local partner. The freezone houses financial institutions, and wealth funds in addition to retail and hotel space dedicated to the free zones.
DIFC offers clients a 50-year guarantee of zero taxes on corporate income and profits, complemented by the UAE's network of double taxation treaties.
It was reported in 2022 that DIFC had a 19% annual increase in non-financial firms, bringing the total number of international companies, family businesses, and corporate service providers to over 3,000.[5][needs update]
- ^ DIFC announces project overview for real estate development | DIFC | AMEinfo.com Archived June 23, 2012, at the Wayback Machine
- ^ The Dubai International Financial Centre (DIFC) is open for business | DIFC | AMEinfo.com Archived June 23, 2012, at the Wayback Machine
- ^ Alsuwaidi & Company - Robert Sliwinski (2020-09-07). "Knowing and understanding the UAE Courts system: a comparison of the legal civil procedures between the DIFC and Dubai Court's systems". Lexology. Retrieved 2022-07-30.
- ^ "The DIFC's Affirmation of English Common Law into its Statutory Framework".
- ^ "DIFC continues to attract intl powerhouses Apple, Baker McKenzie, JLL, and Stryker". Al Arabiya English. 2023-05-16. Retrieved 2023-05-26.