What is Dubai Financial Services Authority (DFSA)? Dubai Financial Services Authority (DFSA) Review, Features

The Dubai Financial Services Authority (DFSA) is an independent financial services regulator responsible for overseeing transactions conducted within the Dedicated Financial Free Zone (DIFC) in Dubai, United Arab Emirates.

About Dubai Financial Services Authority (DFSA)

The DFSA is an independent financial services regulator in the Dubai Financial Centre, a financial free zone located in Dubai, United Arab Emirates.

DFSA's regulatory authorization includes asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodity futures trading, Islamic finance, insurance, international stock exchanges and international commodity derivatives exchanges. In addition to supervising financial and ancillary services, as the only independent financial services regulator in the Dubai International Financial Center (DIFC), DFSA is also responsible for supervising and enforcing anti-money laundering (AML) and counter-terrorist financing (CTF) requirements applicable to DIFC. DFSA also accepts the authorization of the DIFC Company Registry (RoC) to investigate the affairs of DIFC companies and partnerships involving DIFC Company Law and major violations, and provide enforcement remedies to registered service providers.

Dubai Financial Services Authority (DFSA) license application process:

1. Submit application materials and pay fees.

2. DFSA conducts preliminary and final review.

3. Complete DIFC company registration.

4. The review will be completed in about 4 months.

DFSA will send a form requesting DIFC company registration. After completing the registration, the DFSA's authorization certificate will be issued.

The DFSA regulates this 2004 regulation, which is the cornerstone of the regulatory system. The law establishes the composition of the DFSA and allows for the establishment of a regulatory framework within which entities can be licensed, authorized, registered and supervised by the DFSA. Under the law, the DFSA has the power to enforce the laws and rules applicable to all regulated participants in the DIFC.

Advantages of DIFC:

1. 100% foreign ownership;

2. No income tax and profit tax (promised to be exempted for 50 years)

3. Double Taxation Treaty System Applicable to UAE Registered Entities

4. No exchange rate controls (capital convertibility)

5. High standards of laws, regulations and clauses

6. A fully transparent operating environment that follows international best practices and internationally recognized legal and regulatory procedures

7. Modern transportation, communications and Internet infrastructure