5 Factors Contributing to the business in the DIFC - 10 Leaves

1. 5 Factors Contributing to Business in the DIFC – 10 Leaves The Dubai International Financial Centre (DIFC) is one of the most prominent financial hubs in the Middle East region. It offers a conducive business environment for businesses of all activities and sizes, and is strategically positioned to connect both the East and the West as well as to provide an entry point for foreign investors looking to set up their presence in the region. Before you jump straight into the process, however, there are some important considerations you need to make. Even though you will surely be guided by the hub’s dedicated service offices and staff, it’s important that you have a clear vision of the business you plan on establishing in the free zone so that the process of setting up is as seamless as possible. With that, here are five questions you need to have an answer to before approaching a company formation expert for the activity. What do you want to set up? The DIFC has a strong financial regulatory ecosystem, which makes it the ideal location for financial businesses. Businesses in the DIFC that you can set up include, but are not limited to, the following: Fintech Islamic finance Wealth management Fund management Banking However, there are options for non-financial businesses as well. Doing business in the DIFC can encompass activities in retail, technology, human resources, and more. Demand for non-financial businesses in the DIFC is strong for two reasons. First, they can provide a wide range of goods, services, and facilities that they need to operate. Next, these businesses foster an environment of leisure and lifestyle environment alongside the business spaces. There is a wide range of opportunities available

2. What kind of office space do you want to have? The DIFC has several office spaces available to you, according to your budget and preferences. If you’re an entrepreneur, you can go for the DIFC Work Hub?—?flexible and affordable co-working spaces with the ideal infrastructure for growth and close proximity to a community of over 22,000 professionals across more than 2,000 firms. How many employees do you have? Are you moving your business here or starting one from the ground up? The DIFC’s Government Services office is dedicated to provide you with these administrative services, including employment visas. The number of visas you can apply for will depend on two things: 1. The type of business you set up 2. The size of your physical office space in the free zone What kind of bank account best suits your interests? The UAE is home to approximately 23 local and 26 foreign banks—a lot of options for entrepreneurs looking to set up a corporate bank account for their business. The DIFC staff are ready to advise you on the best bank that suits your needs and can go as far as arranging meetings in-branch for you, to ensure that you are on the right track. Have we helped clarify how setting up a business in the DIFC looks like? Now that you have an idea of what to do, it is recommended that you find the right company formation expert to help you make your ideas into a reality. It is possible to set up your business even while you are not in the country, and a dedicated expert can really help streamline it.