Dubai Financial Services Authority (DFSA) is the independent financial services regulator in the Dubai International Financial Centre.
Operating a Representative Office in the DIFC is the least regulated form of Financial Service, but an Authorized Firm can only do so if:
- It is regulated in another jurisdiction;
- Its representative office will only carry out Marketing Activities; and
- It is willing to accept certain practical limitations on the scope of its operations in the DIFC (i.e. the number of staff)
The term Marketing Activities refers to actions such as:
- making referrals or introductions;
- providing information on one or more financial products or services (distribution of investment research and prospectuses; and
- engaging in promotions.
A Representative Office may not:
- make arrangements in regard to credit, investments or insurance;
- provide advice in regard to credit, investments or insurance;
- fill in or assist another person in filling in an application form for a credit; and
- receive and transmit orders in relation to a financial product.
