DIFC’s new business license aims to foster creativity

By Rahul Vaimal, Associate Editor
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A new license for startups, entrepreneurs and technology companies have been introduced by Dubai International Financial Center (DIFC).

DIFC is the largest global financial hub in the Middle East, Africa, and South Asia region (MEASA).

The latest ‘Innovation License’ will draw new kinds of businesses to the Center, which is important for the Dubai Future District.

Dubai Future District is an initiative which will connect DIFC, Emirates Towers & Dubai World Trade Center, housing an economy research center, incubators and accelerators along with an innovative space for pioneers in the future economy.

It was declared in January this year by Sheik Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The new license would foster innovation, creativity and entrepreneurship in the region. Entrepreneurs can grow and scale up their business using DIFC’s legal and regulatory framework and world-class intellectual property and data protection regime.

Further, it comes with discounted options for business licenses, beginning at just $1,500 annually. At competitive rates companies can also gain access to DIFC’s co-working space. While renting desk space, innovation companies can secure up to four visas as well as a 50 percent rebate on additional visas.

Salman Jaffery Image“The new DIFC Innovation License provides an important springboard for future economy pioneers to establish, upscale and future proof their business within the stable framework of a world leading global financial center.”

Salmaan Jaffery
Chief Business Development Officer, DIFC Authority.

DIFC continues to lead the efforts of the MEASA region to provide an enabling environment for creative enterprises contributing to the growth of the financial services and technology industries. Innovation License holders will join the more than 200 technology companies with over 2,500 businesses and 25,000+ professionals in the region’s largest financial free zone.