Company Formation in the DIFC - 10 Leaves

1. Company formation in the DIFC - 10 Leaves Dubai is known for being the top hub in the region in many aspects, such as business, finance, and lifestyle. It’s the ideal mix for the young and aspiring entrepreneur. Here are a few reasons as to why starting a business in its financial hub, the Dubai International Financial Center (DIFC) , is an opportunity you should consider. Business setup in the DIFC is quick and seamless, and can be processed even faster with the right company formation expert to guide you through the steps. 1. Diverse: Despite its name, the DIFC does not limit itself to banking, wealth management, and other financial sectors. Brokers, consultants, & service and product providers from other industries are welcome to start their business here as well. Beyond the opportunities this means for your business, this also means that most of what you need is only a few blocks away?—?like a city within a city. Company formation in the DIFC is worth considering, because it means your business will be in close proximity to a wide range of other important business and lifestyle points of interest. 2. Easy setup: The DIFC is renowned for its comprehensive setup process. The process will differ between regulated and non-regulated companies, as well as the nature of your business. Contact a company formation expert for more information and to ensure that your business setup in the DIFC will go smoothly. 3. Transparent pricing: Setting up in the DIFC is not cheap, but their clear and straightforward pricing structure will ensure that you are getting what you paid for. An initial setup costs USD21,000, and in addition to that, entrepreneurs are also required to pay licensing fees, office costs, and an up-front share capital of USD 50,000. Furthermore, creating a business plan may also run into the thousands. All these payments, and any other payments to the DIFC or any other authority, is to be made in US dollars. 4. Airtight auditing and bookkeeping requirements: Their strict implementation of auditing and bookkeeping requirements are one of the many reasons that the DIFC is one of the most respected free zones in the region. All you need to do is ensure that your business keeps its books up-to-date, and that you file an annual report?—?for which a USD 800 fee is payable.

2. 5. Setting up a corporate bank account: The sooner you can set up your bank account, the better. After receiving In-Principal Approval from DIFC and the DFSA, you can continue on to setting up your corporate bank account. Like setting up the business, a bank account is easy to open up and the DIFC staff can advise you on the bank that best suits your needs. For closer monitoring and ensuring that your business is properly set up for operations, however, you may want to consider hiring a company formation expert to help. 6. Location: Out of all the free zones, the DIFC sits at the most strategic location in the emirate?—?between new and old Dubai, with direct access to the main highway and some of the city’s best schools and healthcare facilities.Has the idea of company formation in the DIFC won you over? What will your next steps be? There are several steps you’ll need to accomplish, with varying levels of difficulty and requirements depending on the type of license you are applying for and the kind of business you are planning to run. It is recommended that before going through the process, you already have a trusted company expert by your side to guide you through your application, ensuring that you go through the entire process as efficiently as possible.