DIFC- A Home to 100+ FinTech Firms

by commitbizadmin 14, Aug 2020

DIFC- A Home to 100+ FinTech Firms

Gradually growing ground, the Emirate of Dubai has left its footprints in the minds of millions of entrepreneurs, business investors and owners. Dedicated to hundreds of business industries, the region has got a dedicated zone for every sector. Well-known free zone Dubai International Finance Centre (DIFC) has set its benchmark by being home to more than 100 business entities dealing in the Fintech sector. Technology has infused itself in all possible domains, and the real example of the financial centre can be seen in the ground of DIFC, paving out more business establishment options for business investors and entrepreneurs. If you are a keen investor and looking for investment options, then DIFC is the best platform to go ahead.

Dubai International Finance Centre-Dubai’s Largest Fintech Ecosystem

Established in the year 2002, and started operations since 2004, the centre of DIFC has been dedicatedly serving to the financial entities, crossed a milestone by 2019 by registering over 100+ business entities. This growth depicts the gravity and scope that the Fintech firm holds in its arena of operating business activities in the region. The Government has been taking continuous efforts through the evolving regulatory environment and quality of collaborations that take place in the region bypassing the geographical boundaries. Similar initiatives will be implemented when it comes to subsidized licensing options to ease the process for international investors.

Growth of Fintech Firms

As stated earlier, technology has infused itself in all possible domains, and finance is one of the core domains where technology has left an intense mark. Technology with finance has eased the lifestyle of the world. Banking and financial services can now be operated with the click of a button, backed by core coding in the backend. The core domains where tech has played a significant role when it comes to the finance sector is depicted below.

Growth of Fintech Firms

Growth of Fintech Firms

Growth of Fintech Firms

Growth of Fintech Firms

Financial Activities in DIFC

Some of the corporate activities that take place in the free zone of DIFC are stated below:

  • Banks
  • Insurance and Reinsurance
  • Wealth and Asset Management
  • Brokerage and Capital Markets
  • Professional Service Providers
  • Corporate Offices
  • Retailers

So, if you deal with any of the corporate aspects mentioned above, you can definitely operate your business activities in the ground of DIFC. Now, before you go ahead and proceed, you need to understand that every country in the world has got a set of rules and regulations for the business entities that need to be abiding by. To suffice the purpose of company incorporation in UAE, it is recommended that you take the help of business consultants who can guide you throughout the process. Now, you must be wondering why professionals? Well, let’s figure out the answer.

Why to Choose Business Professionals to Set up a Business in DIFC

When it comes to the company incorporation process, most of the business owner and investors prefer to go ahead with experienced professionals because of the following benefits.

1.Error-Free Task

It is said that “Practice makes a man perfect.” Well, this saying goes well when it comes to dealing with business professionals. As stated earlier, having a guide by your side makes your task easier. If you deal with a firm who is proficient in setting up a business in DIFC, then you will face fewer issues during the incorporation process. Since they deal with the proceeding day and night, the chances of errors in the process turn out to be very minimal.

2.Time-Saver

Next, the benefit that you will be deriving is that much of the time will be saved. In case, if you choose a partner, who is not well-versed with the dealings, there exists a probability of error. Rectification of those errors would take ample amount of time, and you know very well, “Time is Money.”

3.Well-versed with Technicalities

Legal proceedings require multiple levels that need to be cleared. For example, certification of incorporation needs to be obtained, registry of the company needs to be completed at the registry office etc. These tasks deals demand in-depth knowledge, and thus dealing with an experienced professional turns out to be profitable.

4.High-end Market Information

To understand a market, it takes an ample amount of time. While dealing with subject-matter experts, you will get better clarity as you will be exposed to the insight information of the target market. At the same time, if you go ahead with an inexperienced professional, you will not be in a position to understand the insights, and at the same time, having knowledge on the basics will turn out to be a boon for any business.

5.Experience Matters

When it comes to the corporate world, experience plays a significant role. Even before hiring a candidate for a particular job role, the management looks at the experience the candidate holds. In case if there are two candidates, one who carry experience, and the other doesn’t, there exist a high probability that the candidate with experience gets selected. The core reason is that the management holds a sense of confidence that an experienced candidate will be able to deal with the company tasks in a better way.

Similarly, an experienced auditor will be able to clear your company incorporation proceedings in a much better way, as compared to a newbie in the market. Commitbiz Consultants stands as one of the best business consultants in the UAE, who takes utmost care in serving clients during the business establishment process. Ranging from incorporation to establishing the business pillars like accounting, audit, Tax, VAT, Legal, we take care of the complete tasks. In case you hold any query, do contact us-we’d be glad to assist.