New business license at DIFC

Dubai International Finance Centre (DIFC) comes up with new licenses for start-ups, entrepreneurs, and technology firms. The DIFC said that the new “Innovation License” is an initiative for the Dubai Future District in order to attract new businesses to the centre.

The new license will help improve innovation, creativity, and entrepreneurship in the region. DIFC’s independent English Common Law will help the entrepreneurs grow with their legal and regulatory framework, world-class intellectual property, and data protection regime.

DIFC has over 2500 firms and 25,000 professionals and the innovation license holders will join the technology firms here.

DIFC launched the innovation license with subsidized commercial licensing options, starting from $1500 per annum. The DIFC co-working spaces will also be made available to businesses at attractive rates. Those firms which own the innovation license can secure up to four visas while renting the desk and can avail a subsidy of 50% on additional visas.

“It is an exciting new offering that we hope will attract technology-led, sector agnostic start-ups that will disrupt the technology and financial sectors. These types of businesses have an important role in shaping the economic future of Dubai, UAE and the region. They will be welcomed by members of DIFC’s ecosystem and become a central part of the new Dubai Future District”, said Salmaan Jaffery, Chief Business Development Officer at DIFC.

He also added that the “Innovation License” will be a huge benefit for the future economy developers to stabilize and establish their businesses by making use of the structure of a leading global financial centre.

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