The Dubai International Financial Center (DIFC) is a well renowned international business hub which has its own independent legal and regulatory framework.
On 30th May 2019, His His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, enacted a new DIFC Insolvency Law, Law No. 1 of 2019 for the DIFC.
Under the direction of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the government of UAE had previously announced the establishment of a new visa scheme that would allow permanent residency to foreign residents.
The ADGM has emerged as a leading international financial center in the Middle East with the implementation of a regulatory instrument on crypto currency.