A memorandum of understanding (MoU) between DIFC and economic development government department Dubai Economy will allow non-regulated companies based in the Centre to also operate as mainland businesses under the licence, DIFC said.
A central repository will be set up to allow data exchange between the parties. This will improve visibility and transparency of the commercial activity within the DIFC, and joint inspections will improve compliance, prevent fraud and increase consumer protection, it said.
Essa Kazim, governor of the DIFC said the MoU is "further evidence of DIFC’s efforts to encourage robust best practice and our commitment to our 2024 strategy that will see us triple in size."
Sami Al Qamzi, director general of Dubai Economy said that the agreement will help companies and investors to use Dubai as a business hub, as well as improving transparency and compliance.
