- Client: UK-based financial advisory business
- Requirement: Establish a presence in the UAE
- Solution: DIFC Category 4 licence
- Additional Support: UAE visas, DIFC office space and corporate banking
Enness was approached by a UK-based financial advisory business that was looking to establish a presence in the UAE. The firm had seen a growing number of its clients relocate to the Middle East and recognised that having an established presence in the region would better support its expanding client base.
The business needed to understand the most appropriate structure for establishing its UAE operations while ensuring that the proposed setup aligned with its existing activities and future plans in the region.
After reviewing the business and discussing its requirements in detail, Enness proposed establishing the firm within the Dubai International Financial Centre (DIFC) under a Category 4 licence. The proposed structure was aligned with the firm's existing financial advisory model and its plans to develop its presence in the Middle East.
The DIFC provides an established financial centre for businesses operating across the region. For this client, the proposed Category 4 structure provided a framework suited to activities involving arranging credit or deals in investments and advising on financial products.
Enness also supported the wider establishment process, helping the business with multiple UAE visas, sourcing suitable office space within the DIFC and assisting with the opening of a corporate banking relationship.
Rather than approaching the UAE expansion as a standalone licensing exercise, Enness considered the practical requirements involved in establishing the business on the ground. This gave the client support across several of the key steps involved in creating its UAE presence.
The case demonstrates the importance of taking a joined-up approach when an established professional services business is looking to expand into a new jurisdiction. Licensing, premises, banking and immigration requirements can all form part of the process, making it valuable to have a clear structure from the outset.
Enness works with international businesses and high-net-worth clients establishing or expanding their presence in the UAE. If your business is considering a move into the region and requires support understanding the available structures, speak to an Enness specialist to discuss your requirements.
Disclaimer:
This case study is for information and illustrative purposes only and should not be construed as financial, legal, tax, regulatory, immigration or investment advice or a recommendation. Regulatory requirements and licensing options may vary depending on the nature of the business and its proposed activities. Independent professional advice should be obtained where appropriate.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
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