DMCC Crypto Centre Dubai Multi Commodities Centre (DMCC) has announced it will establish a regulatory framework for businesses offering, issuing, listing, and trading crypto-related assets. The “DMCC Crypto Centre” intends to issue bespoke licenses for firms in the crypto space after signing a Memorandum of Understanding with the Securities and Commodities Authority (SCA). The two authorities will collaborate to approve … Read More
Introducing the DIFC Innovation License
Dubai International Financial Centre (DIFC) has launched a new license for startups, entrepreneurs, and technology firms. The new Innovation License will attract a variety of businesses to DIFC and is a key initiative for the Dubai Future District, which was announced in January 2020 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler … Read More
DIFC expands Prescribed Company regime
Dubai International Financial Centre (DIFC) have just confirmed the expansion of the criteria for those who want to set-up a Prescribed Company, making it more accessible than ever. Before we look at the new regulations, let’s recap on why these structures are so useful. Prescribed Companies (PC’s) have been designed to allow applicants to conduct a wide variety of passive … Read More
DIFC has enacted a new data protection law
The Dubai International Financial Centre (DIFC) has introduced a new data protection law, which came into effect from 1st July 2020. The ‘Data Protection Law 2020’ aims to enhance DIFC’s current regime around data, security and privacy best practices. Businesses to which the law applies will have a three-month grace period (until October 1st 2020) to adhere to the new … Read More