Dubai International Financial Centre (DIFC)
Set Up Your Company in Dubai International Financial Centre (DIFC)
The Eslam Elgendy Innovation Hub offers a complete business space for tech start-ups located in the well-known DIFC area. Get ready for a special Business License just for new tech companies. You can save 90% on the DIFC License Fee. Start your tech company in Dubai without spending much on the DIFC license.
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The Dubai International Financial Centre
About DIFC
The Dubai International Financial Centre (DIFC) is the leading financial hub in the Middle East, Africa, and South Asia (MEASA) region. With almost two decades of experience, DIFC has played a key role in facilitating trade and investment across 72 countries and a population of around three billion people.
Located between Burj Khalifa and Emirates Towers, the DIFC Innovation Hub offers a prestigious ecosystem for Tech Startups, providing innovation licenses and DIFC fintech licenses within the renowned DIFC jurisdiction. This prime location is perfect for your tech startup, featuring an affordable DIFC trade license cost.
DIFC’s strategic location acts as a vital link connecting the markets of the MEASA region with the economies of Asia, Europe, and the Americas, all through the vibrant city of Dubai.
Apply for an innovation license at DIFC and join the thriving tech community in this premier location within the DIFC innovation hub with Eslam Elgendy!
DIFC Innovation License Requirements
The entity should be non-regulated and cannot conduct any financial services including financial advisory, arranging money services etc.
The entity must provide a type of technology like a Software Solution, AI, Web3, Technology R&D, or Blockchain.
The entity or business activities must be tech-related or innovation-related as this license is sector agnostic.
The entity must have a physical presence within DIFC with a minimum requirement of obtaining a flexible desk at the co-working spaces.
The entity cannot generate any trading/selling of physical products
(e.g., import/export of physical products) through direct or e-commerce channels.
Source of income should be produced for compliance purposes.
Benefits of the DIFC Tech Start-up Package
Subsidised License by 90%
4 Visa Allocation
100% Foreign Ownership
Governed by the UK Common Law and not the UAE Sharia Civil Law
Access to a Thriving Start-up Ecosystem
ZERO Currency Restrictions
No Restriction on Capital Repatriation
Access to DIFC Co-working Facilities and Modern Amenities
Access to a Global Fintech Hub
Applicable Business Activities
Computer Consultancies
This category encompasses consultancy firms aiding enterprises, conducting user needs analysis, and utilizing computer hardware and software for optimal solutions. It involves selecting software suitable for company activities, operational specifications, equipment, setting up computer rooms, preparing procurement documents, and offering related services and consultations.
Data Classification & Analysis Services
This category comprises firms specializing in assessing and analyzing data from public and private entities, consolidating them into a unified repository for structured reviews and diverse analyses. They classify data based on common characteristics to uncover valuable insights, inform conclusions, and aid decision-making, aiming to enhance investment returns and optimize resource utilization.
Cyber Security Consultancy
This category encompasses firms specializing in providing thorough professional cybersecurity consulting services to organizations. They advise on preparing for, preventing, and safeguarding against cyber-attacks and threats, which may target networks, computers, programs, and data. Their services include assessing cybersecurity measures to ensure compliance with regulations, as well as reactive support such as responding to cyber breaches and conducting recovery activities post-incident.
Technology Research & Development
This category encompasses firms specializing in conducting research and experimental development studies related to technology businesses. Their focus is on innovating, introducing, and improving products and processes. They establish guidelines to enhance design, evaluation, and implementation techniques, conducting a range of investigative activities aimed at developing new products and enhancing existing ones.
IT Infrastructure
This category comprises firms specializing in establishing the technical infrastructure of information technology, including networks, systems, and databases. They also engage in preparing consultative studies and installing networks and systems, which may include manpower training.
Portal
Online services furnished with databases and programs provided as a service with fundamental features of the technology platform. It may also serve as an intermediary between a content provider and a user for various resources and services.
Software House
These firms specialize in designing, implementing, operating, and maintaining computer systems software. They analyze user problems to develop cost-effective solutions, including applications for smartphones and mobile devices.
Public Networking Services
These firms specialize in subscribing to and connecting with international information networks, managing specialized information banks, and facilitating electronic mail exchange. They operate systems and applications for electronic mail and data exchange via communication networks and international lines.
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Education Technologies Research & Development
These centers or institutes specialize in conducting studies, experiments, and developmental research on learning technologies to improve the design, evaluation, and implementation of learning techniques for optimal efficiency.
Education & Training Computer Software
This involves offering computer systems analysis and software design services to educational and training facilities. It includes analyzing user needs and problems, providing consultancy on the most cost-effective solution, and implementing necessary programs. Additionally, it covers software installation, testing, and operation.
Information Technology Consultants
This involves offering technical services and consultations related to information technology and applications such as internet and data warehousing. The aim is to improve administrative and technical performance in various corporations. These firms are not authorized to market or produce any software or products related to this technology.
Network Consultancies
This entails offering thorough professional consultations to IT organizations, aiding them in aligning their requirements with networking solutions. It encompasses securing, analyzing, and designing network solutions to uphold the security and integrity of their IT assets.
Internet Content Provider
These are firms specialized in creating and hosting internet sites with content accessible to users.
Electronic Chips Programming
This involves programming electronic chips utilized in computers or other automated electronic devices, including those in various industries and consumer electronics.
Web-Design
These firms specialize in designing web pages for electronic service sites, utilizing the internet as their infrastructure.
Internet Consultancy
These firms specialize in formulating strategies for implementing internet technology in commercial entities and defining practical application techniques.
WITH ESLAM ELGENDY
Register your Company Based on Jurisdiction
Once a company is registered with the appropriate authority, it paves the way for a smooth entry into the Dubai or UAE market, allowing you to grow without facing operational or legal challenges. The type of business license you need depends entirely on your business plan, type of business, target market, financial goals, and initial budget. You can choose from three main types of registration.
Frequently Asked Questions
What is the DIFC Innovation License?
The DIFC Innovation License is a Commercial License with a subsidised fee structure open to all technology and innovation start-ups.
Who can apply for the DIFC Tech Start-up License?
The DIFC Tech Start-up License or DIFC Innovation License is offered to a wider ecosystem of technology enablers, catering to Technology/Innovation firms interested in developing or testing new, novel, or innovative products.
How long is the subsidised Start-up License valid for?
The License is subsidised for a period of 5 years, at a rate of USD 1,500 per annum.
Does a start-up need physical space to avail the DIFC Tech Start-up License?
Yes, physical presence is mandatory in the DIFC. The minimum requirement for the DIFC Tech Start-up License is 1 flexi-desk (USD500+vat).
Do I need to be physically present to apply for the License?
No, the DIFC client on-boarding system is fully digital, and the process is done online.
What activities are applicable under the DIFC Tech Start-up License?
Refer to the above section that details out all the included business activities.
What is the timeline of setting up in the DIFC?
The process comes in two stages. The first stage is to obtain the ‘In-principle Approval’ from the Registration Review Committee, which can take around 5-7 working days. Once you have been granted the ‘In-principle Approval’ you will be given access to second stage which is the setup of the legal entity in the DIFC. This process can take up to a day to a few days to complete as it requires you to complete the steps needed (Articles of Association, obtaining a lease, paying the fees etc.). Once completed, you will be able to submit for the Commercial License to be issued. Please note that the second stage is dependent on how fast you can finish the process.
Are there any minimum capital requirements?
No, there are no capital requirements for entities under the DIFC Tech Start-up License.
What is a Confirmation Statement?
All DIFC companies are now required to file a confirmation statement with the DIFC Registrar of Companies at the time of license renewal. The confirmation statement will include a confirmation that all information (and any changes to such information) required to be notified to the DIFC Registrar of Companies has been so notified.
What if I would like to conduct financial services (regulated activities)?
The DIFC Tech Start-up License is only applicable to those conducting un-regulated activities.
How many visas can I apply for?
On the first flexi-desk, you would have the eligibility to apply for up to 4 visas.
Can I open a bank account with a DIFC Tech Start-up License?
Once the entity is registered and the Commercial License is issued, you may begin the process of opening a bank account. Eslam Elgendy team will assist you at this stage.
Can I add new shareholders?
Yes, you can once the entity is incorporated. The process can be done via the client portal. There is no fee associated with this service.
What does unregulated activity refer to?
The DIFC Innovation License only applies to non-regulated entities which means that you cannot trade or sell your own products and conduct any financial activity. You can provide a software development, a portal, an R&D platform, etc.
Let’s Build Your Future Together
At Eslam Elgendy, we don’t just set up companies, we build lasting partnerships.
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Contact With Us!
7869+JCF – Al Maktoum Rd – Deira – Riggat Al Buteen – Dubai
Call us: (+971) 556604347
Mail: info@eslamelgendy.com
Mon – Sat: 8.00am – 18.00pm / Holiday : Closed
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