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DIFC launches new license starting at $1,500 for startups and entrepreneurs in Dubai

DIFC launches new license starting at $1,500 for startups and entrepreneurs in Dubai

Businesses can secure up to four visas when renting a desk space within the freezone

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The Dubai International Financial Centre (DIFC) has launched a new Innovation License for startups, entrepreneurs and technology firms which choose to operate within the financial freezone in Dubai.

The new license comes with subsidised commercial licensing options starting at $1,500 per year.

Businesses will also have access to DIFC’s co-working and flexible desk spaces at a price starting from $500 a month.

They can secure up to four visas when renting desk space as well as a 50 per cent subsidy 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, DIFC Authority.

“The new DIFC Innovation License provides an important springboard for future economy pioneers to establish, upscale and future proof their business within the stable framework of a world leading global financial centre.”

DIFC is the region’s largest financial freezone with over 200 technology firms and more than 25,000 employees.

Last week, DIFC revealed that a record 620 startups had applied for this year’s DIFC FinTech Hive accelerator programme, up from the previous record of 425 applications received in 2019.

Read: Dubai’s DIFC FinTech Hive accelerator programme attracts record entrants

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