The DIFC Innovation License otherwise known as “Innovation License” or “Innovation Testing License” offers innovators an opportunity to set up and grow up their innovative businesses, without the high costs, stringent regulations and extensive licensing time-frame.
The DIFC Innovation License provides a Launchpad for unique exceptional technologies for; technology companies, start-ups and enables entrepreneurs to tap into technological innovations. The DIFC Innovation license supports innovation, creativity, and entrepreneurship in the financial technology space.
For other Financial Licensing in DIFC visit this page for more information.
The DIFC is one of the two Financial Free Zones within the UAE with its own civil and commercial laws. At the heart of the DIFC model is an independent risk-based regulator, the Dubai Financial Services Authority (DFSA), which grants licenses and regulates the activities of all banking and financial institutions in DIFC. As a financial free zone with an independent jurisdiction, DIFC has three independent authorities:
These three authorities ensure that DIFC offers a highly professional yet business-friendly environment operating with the best practices and recognized by all the major financial centers across the world.
The DIFC Regulatory regime for Funds has been designed to meet international standards for regulation and, where required, to provide adequate investor protection.
The DFSA has provided a facilitative, business-friendly regulatory framework while remaining compliant with the International Organisation of Securities Commission’s (IOSCO) principles for regulating Funds.
Wincore provides strategic assistance and coordination services on establishing FinTech Firms in the DIFC. Our team of senior-level compliance and legal advisors, combined with sophisticated corporate service expertise, can provide the highest quality advisory and set up services for regulated and unregulated set-ups, at a competitive cost and within an efficient and respected processing timeline.
If you would like to schedule your initial consultation, don’t hesitate to contact our team of advisors today on +971 4 221 2602 or [email protected].
The DIFC Innovation license is extremely low-cost (starting at $1,500) in comparison to the other licenses at DIFC and obtaining the Innovation License grants the entrepreneur(s) access to world-class co-working space and an ecosystem of fellow technology companies and access to the leading venture capital firms in the region.
The DIFC FinTech Hive and FinTech Funds contribute to the innovative efforts and enable the MENA landscape to establish new promising technology companies and entrepreneurs.