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What is Dubai International Financial Centre mean?
The Dubai International Financial Centre (DIFC) is a special economic zone in Dubai covering 110 ha (272 acres), established in 2004 and a financial hub for the Middle East, Africa and South Asia (MEASA) markets. DIFC has its own independent, internationally regulated regulator and judicial system, common law framework, global financial exchange, tax-friendly regime, and a large business community. The district houses hundreds of financial institutions, including wealth funds and private investors, but it also hosts multinationals, retail outlets, cafés, restaurants, residential space, public green spaces, hotels and art galleries.
DIFC is one of Dubai's independent free-zones; it offers companies 100% ownership without the need for a local partner. The district is governed by a common-law framework distinct from the United Arab Emirates (UAE) legal system, with laws and regulations issued in English. 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.
reference| Full Form | Category |
|---|---|
| Dubai International Finance Center | Business |
| Dubai International Financial Centre | Business |
| Dubai International Finance Care | Business |
| Decentralized Information Flow Control | Computing |
| Dublin International Foundation College | General |
Posted on 23 Oct 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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