Allows DIFC-registered firms to obtain dual licenses to operate across Dubai

On 1 May 2017, the Dubai International Financial Centre (DIFC) signed a memorandum of understanding (MoU) with Dubai Economy - the Government body for economic policy making and management - to allow companies operating within DIFC - a financial free zone in Dubai - to obtain licenses to operate in mainland Dubai. Therefore, non-regulated companies in the DIFC will be able to operate as mainland businesses under a license issued by Dubai Economy. The agreement also aims to increases levels of governance, compliance and transparency for businesses working within the DIFC infrastructure.

• Type:

  • Treatment and operation (Operational conditions )

• Industry:

  • Services (Financial and insurance activities)

• Sources:

  • Dubai International Financial Center, DIFC companies can now obtain Dubai Economy Dual licenses to operate across Dubai, https://www.difc.ae/newsroom/press-releases/difc-companies-can-now-obtain-dubai-economy-dual-licenses-operate-across-dubai, 01 May 2017
  • Economist Intelligence Unit, Dubai's financial free zone gets new onshoring regulations, http://country.eiu.com/article.aspx?articleid=1765409360&Country=United%20Arab%20Emirates&topic=Economy&subtopic=Forecast&subsubtopic=Policy+trends&u=1&pid=995772083&oid=995772083&uid=1, 11 May 2017
  • The National, DIFC firms can obtain onshore licences, https://www.thenational.ae/business/difc-firms-can-obtain-onshore-licences-1.40556, 01 May 2017