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

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

<<:  What is MTS Money? MTS Money Review, Features

>>:  What is the Financial Supervisory Service (FSS) of Korea? Financial Supervisory Service (FSS) of Korea Review, Features

Recommend

By 2026, buy now, pay later will contribute 14% of e-commerce transactions

According to Benori Knowledge research , BNPL has...

What is Depoga? Depoga Review, Features

Depoga (Depoga Technology Development Co., Ltd.) ...

What is Teknihall? Teknihall Review, Features

Teknihall is an independent after-sales service pr...

What is Beyond Meat? Beyond Meat Review, Features

Founded in 2009, Beyond Meat is one of the fastes...

What is American Tourister? American Tourister Review, Features

The American Tourister luggage brand was founded ...

Ozon opens distribution center in New Riga

Similar to Amazon's FBA, more and more e-comm...

What is Amazon Advertising? Amazon Advertising Review, Features

Amazon advertising, also known as "keyword a...

What is Rollo? Rollo Review, Features

<span data-docs-delta="[[20,{"gallery"...

What is Chewy? Chewy Review, Features

Founded in 2011 and headquartered in Florida, Che...

U.S. buyer consumption trends in the first quarter of 2022

Recently, the technology company junglescout cond...

What is Logistics by Shopify? Logistics by Shopify Review, Features

Logistics by Shopify is Shopify's official lo...