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DIFC and Al Tamimi & Company release ‘Setting Up in the Dubai International Financial Centre’

Published: 01/02/2018

Dubai, UAE – In collaboration with the Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, Al Tamimi & Company has released the fifth edition of ‘Setting up in the Dubai International Financial Centre’. As the most up-to-date version of DIFC’s comprehensive business guide, the manual continues to serve as one of the most reliable points of reference for established firms in addition to new investors looking to set up operations in the Centre.

The guidebook provides details on the latest financial regulations, banking, licensing and employment laws. It also incorporates in-depth explanations on recent changes to the DIFC Courts Systems and arbitration procedures currently in place.

Commenting on the release of ‘Setting Up in Dubai International Financial Centre’, Salmaan Jaffery, Chief Business Development Officer, DIFC Authority said: “Al Tamimi & Company, one of DIFC’s most established clients, are the perfect partner for producing this guide. As one of the largest law firms in the Middle East, they have unparalleled experience in helping investors to successfully set up their businesses in the Middle East. We’re confident that this guide will be used by many companies who wish to join and expand their operations in DIFC, the world’s top 10 and region’s number one leading financial centre.”

Essam Al Tamimi, Senior Partner and Founder of Al Tamimi & Company, commented, “Dubai continues to develop as a hub for businesses from all over the world, setting up their regional offices in the city. As these organisations look to navigate a complex landscape, it is our duty, as the largest law firm in the region to assist and enable them.”

“We have released the updated ‘Setting Up in Dubai International Financial Centre’ with this goal in mind. Through the guidebook, we hope to provide a greater level of understanding around the commercial and legal aspects of operating in DIFC”, concluded Al Tamimi.

Since its inception in 2004, DIFC has leveraged a full ownership strategy that has provided flexibility for global businesses. Additionally, Dubai’s centralised location across global time-zones has led the city to become a major financial centre amongst the likes of Hong Kong, Tokyo, London and New York.

As the largest law firm in the Middle East, Al Tamimi & Company has played an instrumental role in the formation and growth of DIFC. The firm has helped establish over 120 regulated entities in the DIFC since 2004, and has become the legal regional partner to many international organisations. The firm continues to provide experienced support for DIFC-based businesses.

About The Dubai International Financial Centre (DIFC)

The Dubai International Financial Centre (DIFC) is one of the world’s top ten financial centres, and the leading financial hub for the Middle East, Africa and South Asia.  The Centre provides a world-class platform connecting the region’s markets with the economies of Europe, Asia and the Americas and facilitates growth in South-South trade and investment. An onshore, international financial centre, DIFC offers a stable, mature and secure base for financial institutions to develop their wholesale businesses.

The Centre offers all the elements found in the world’s most successful financial industry ecosystems, including an independent regulator and judicial system with a common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. The infrastructure within the district features ultra-modern office space, retail outlets, cafes and restaurants, art galleries, residential apartments, public green areas and hotels.

Located midway between the global financial centres of New York, London in the West and Singapore, Hong Kong in the East, DIFC (GMT +4) fills a vital time-zone gap with a workday that bridges the market and business hours of financial centres in both Asia and North America.

In 2015, DIFC launched its 2024 growth strategy, a blueprint for the next decade of growth of the financial hub. This strategy aims to stimulate trade and investment flows along the South-South economic corridor encompassing the Middle East, Africa, Southern Asia and Latin America.

Currently, 1,750 active registered companies operate from the Centre, with a combined workforce of 21,611 professionals.

DIFC continues to pursue expansion into new services and sectors within the Middle East, Africa and South Asia region, an area comprising over 72 countries with an approximate population of 3 billion and nominal GDP of US$7.4 trillion.

For further information, please visit our website: difc.ae, or follow us on Twitter @DIFC.

Our business and regional footprint continues to grow, and we seek to expand further in line with our commitment to meet the needs of clients doing business across the Middle East.

For more information, please visit www.tamimi.com.

Follow us on Twitter @altamimicompany and LinkedIn.

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