The Dubai International Financial Centre is a federal financial free zone situated in the Emirate of Dubai, United Arab Emirates. The DIFC was established pursuant to UAE Federal Decree No. 35 of 2004, UAE Federal Law No. 8 of 2004 and Dubai Law No. 12 of 2004. The DIFC occupies a physical territory of approximately 110 acres.
The DIFC is an independent jurisdiction under the UAE Constitution, with its own civil and commercial laws distinct from those of the wider UAE. DIFC laws and regulations are written in English and default to English law in the event of an ambiguity.
Licence applications are considered from financial institutions in the sectors. Each of these units offer benefits such as zero tax rate on income and profits, 100 per cent foreign ownership, no restrictions on foreign exchange or capital/profit repatriation, operational support and business continuity facilities.
The Dubai International Financial Centre complex has two hotels.
The Four Seasons Hotel DIFC opened in early 2016. The interior wasdesigned by New York-based Tihany Design,. The hotel includes the Firebird Diner, a modern-American diner styled restaurant, Penrose a lobby level tea lounge and a terrace for meetings and relaxation.
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