6 Benefits of setting up a company in DIFC:
The DIFC, or Dubai International Finance Centre, is a great place for anyone to set up a business. There are many advantages to company setup in DIFC when compared to doing business in other parts of the world.
Looking for a Business Startup in Dubai, read below to learn some of the benefits of company setup in DIFC:
1. Ideal Location
When you start your company in DIFC, you are gaining a major geographic advantage. When starting a business in DIFC, you will be located only 20 minutes from the airport and 15 minutes from downtown Dubai’s main business district. This will allow you easier access to meeting with local and international businesses. It is also beneficial for manufacturers who must ship their products through airports.
2. Tax Exemption
DIFC Company formation allows you to take advantage of a 0% tax rate. You are given a 50-year period where you will not pay a tax on any corporate income or profits. The UAE also has double taxation avoidance treaties with central banks that work in your favor.
3. Unlimited Capital Repatriation
Dubai International Financial Centre Company Setup also comes with the advantage of unlimited capital repatriation. This is excellent for international firms as it allows flexibility for where you want to spend your money. There are no currency exchange controls, and the jurisdiction is tied closely to the US Dollar which is beneficial to most global companies.
4. 100% Foreign Ownership
Dubai International Financial Centre Company formation comes with the major benefit of having 100% ownership of your organization. In previous years, It requires that your company had a certain percentage of ownership controlled by a UAE national. However, with the introduction of free zones, foreign investors can now own 100% of the company shares.
5. Common Law Framework
The DIFC has its own judicial system which allows it to regulate both civil and commercial laws within its own framework. This means that it can guarantee fair business practices and arbitrate disputes to make sure that sound financial decisions are made.
This common law framework is highly beneficial to businesses and promotes growth and profitability. Because it has its own laws, however, you try to team up with a reputable business consultant in Dubai to make sure that you understand the new laws and contracts that you’ll be entering. It is important to find an experienced Company Formation consultant in the UAE because there will be certain operations that will be handled differently, especially if this is your first time doing business in Dubai.
6. Regulatory ENVIRONMENT
The DFSA, or Dubai Financial Services Authority, grants all licenses and forms all of the regulatory procedures within the DIFC. This lets you enjoy all the benefits of a fair and profitable regulatory environment, keeping your business safe while letting your company provide the products and services to the full extent of its capabilities.
Dubai’s world-class infrastructure and business-friendly environment definitely make it an ideal destination for business setup but regardless of all the benefits, a lot of research, planning, and hard work is essential to implement the business plan.
Teaming up with a reputable business consultancy firm like the Business Link UAE will definitely make your company formation process easier as we have the resources, experience, and expertise you need to successfully set up a company in Dubai.