Dubai International Financial Centre (DIFC) has introduced four (4) new licensing categories with reduced fees to attract more firms to do business in DIFC: short-term licenses, restricted licenses, commercial permissions and dual licenses.
Under short-term licenses category, retail businesses and other non-financials will be able to operate their businesses from DIFC with flexible rates over shorter timeframes. This includes a registration fee of US$100 and license fee ranging from US$300 to US$5,100, depending on the duration.
Restricted licenses category is designed for firms interested in developing or testing new products and services in the DIFC. Entities obtaining this license will have a reduced registration fee of US$100 and annual license fee ranging from US$1,000 to US$4,000, allowing testing and access to the DIFC ecosystem which includes incubator and accelerator programs.
Commercial permissions will allow both DIFC and non-DIFC entities such as event companies, retail outlets, training providers or educational services to conduct their main business activities within the DIFC at competitive rates. Fees for commercial permissions range from US$100 to US$2,000, depending on the nature of activity and duration.
As for the dual licensing category, it enables Dubai Economic Department (DED) licensed non-financial and non-retail firms, with an affiliate in the DIFC, to operate from the Centre. This includes law firms, audit firms, consultancy firms, family businesses, holding companies and corporate service providers, who will benefit from an annual fee of US$1,000.
© Copyright EMIRATES 24/7