The Dubai International Financial Centre, or DIFC, is the onshore financial center of the UAE. Established in 2004, the DIFC was conceived with the aim of bridging the gap between the traditional local economy and the world’s major financial centers in New York, London, and Tokyo.
The DIFC is governed by a special set of rules and regulations, with its own courts and arbitral tribunal. It is not subject to the federal civil and commercial laws of the UAE, having enacted laws unique to its jurisdiction which in effect constitute a commercial code. These laws include Corporate Law, Contract Law, Arbitration Law and Insolvency Law among others promulgated by the DIFC Authority.