The DIFC is a purpose-built financial free-zone, located within the Emirate of Dubai, United Arab Emirates. The DFSA is the independent regulator of financial and ancillary services conducted in or from the DIFC, responsible for capital markets and affiliated financial services.
Key Features
A DIFC entity seeking an investment manager license must be authorised by the DFSA to provide the services of a Fund Manager in the DIFC. If it is only for QIF’s or Exempt Funds, the process is shorter and easier. For a QIF or Exempt Fund, the application process should take 4-6 weeks and the application relies heavily on self-certification and reflects the level of regulatory risks involved.
A license to only manage a QIF or an Exempt Fund is restricted to managing only these types of funds and an upgrade will be required should managing a Public Fund be desired.
Legal Requirements
|
Requirements |
Description |
|
General |
|
|
DIFC Company |
|
No |
|
Application fee |
USD 10,000 |
|
Annual license fee |
USD 10,000 |
|
Share capital or equivalent |
|
|
· Minimum paid up capital |
AED 5 million (USD 1.4 million) |
|
Directors |
|
|
1 |
|
Yes |
|
No |
|
Shareholders |
|
|
1 |
|
Yes |
|
No |
|
Service Providers Required |
|
|
Yes |
Tax Treatment
The DIFC provides a 40-year guarantee of zero taxes on corporate income and profits. From an investor’s perspective, there is no withholding tax and no transfer tax.
Duration to Set Up
About 1 month
Distinctive Benefits of Licence
- Flexibility in vehicle structuring
- Ease and speed of establishment
- Favourable tax regime
- Conducive regulatory environment
The Valsen Advantage
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers