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DIFC Records Highest Number Of Annual Registrations Since Inception In 2020

DIFC Records Highest Number Of Annual Registrations Since Inception In 2020
Date
10/03/2021
Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region today reported the best performance in its 16-year history.
Delivered under the leadership of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of DIFC, these achievements contribute to all pillars of Dubai s 2021 strategy, including raising the emirate’s status as a pivotal global economic hub and a smart and a sustainable city.
Reaffirming Dubai’s growing reputation across the global finance industry, the number of new firms operating in DIFC grew 20 per cent, taking the total to 2,919. A total of 915 financial companies are now active in DIFC, up 24 per cent from 735 in 2019. The number of businesses in the FinTech and Innovation ecosystem more than doubled wi ....

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DIFC records highest number of annual registrations since inception in 2020 | Dubai International Financial Centre (DIFC)

Industry development
DIFC introduced and updated laws and regulations to reflect global best practices and distinguish itself as the leading financial centre in the MEASA region. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, enacted the new Leasing Law and the new Data Protection Law in January and June 2020, respectively.
The new Leasing Law provided further protection to property owners and tenants, aligning the Centre s legal and regulatory framework with best practice and international standards. The new Data Protection Law brought the previous DIFC Data Protection regime in line with the EU s General Data Protection Regulation (GDPR) principles, a first for the region, reflecting the DIFC s commitment to data security, information protection and cyber resilience. ....

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DIFC tables amendments to employment, data and insolvency laws

The free zone unveiled proposed changes to its Common Reporting Standard Law in August 2020 to improve reporting standards. It also enforced an amendment to the employment law that replaced gratuities with a workplace savings plan from February 1 last year.
The DIFC has now tabled proposed changes to Employment Law No 2 of 2019. It will issue new regulations that “will provide further clarity in relation to the Qualifying Scheme regime and bring it in line with the Dubai Financial Services Authority’s employee money purchase scheme so that only a single layer of regulation is applied to these schemes”.
The amendments also aim to address other areas of uncertainty by clarifying the statute of limitations on claims made under the employment law, the accrual of leave days and the duration of probation for short-term fixed-term contracts. ....

United Arab Emirates , Dubai Financial Services Authority , Dubai International Financial Centre , Common Reporting Standard Law , Qualifying Scheme , Insolvency Regulations , Insolvency Law , Operating Law , Deepthi Nair , Personal Finance , ஒன்றுபட்டது அரபு அமீரகங்கள் , துபாய் நிதி சேவைகள் அதிகாரம் , துபாய் சர்வதேச நிதி மையம் , பொதுவானது புகாரளித்தல் தரநிலை சட்டம் , தகுதி திட்டம் , நொடித்துப்போனது ஒழுங்குமுறைகள் , நொடித்துப்போனது சட்டம் , இயங்குகிறது சட்டம் , தீப்தி நாயர் , தனிப்பட்ட நிதி ,

DIFC proposes amendments to employment, data and insolvency laws

The proposals aim to improve the regulatory framework of the financial centre and have been posted for public consultation ....

United Arab Emirates , Dubai Financial Services Authority Employee , Dubai International Financial Centre , Employment Law , Data Protection Law , Insolvency Regulations , Common Reporting Standard Law , Qualifying Scheme , Dubai Financial Services Authority , Insolvency Law , Operating Law , Deepthi Nair , Personal Finance , ஒன்றுபட்டது அரபு அமீரகங்கள் , துபாய் நிதி சேவைகள் அதிகாரம் ஊழியர் , துபாய் சர்வதேச நிதி மையம் , வேலைவாய்ப்பு சட்டம் , தகவல்கள் ப்ரொடெக்ஶந் சட்டம் , நொடித்துப்போனது ஒழுங்குமுறைகள் , பொதுவானது புகாரளித்தல் தரநிலை சட்டம் , தகுதி திட்டம் , துபாய் நிதி சேவைகள் அதிகாரம் , நொடித்துப்போனது சட்டம் , இயங்குகிறது சட்டம் , தீப்தி நாயர் , தனிப்பட்ட நிதி ,