New DIFC regulations enhance SPVs structuring advantage

The updated PC Regulations expand access by removing previous qualifying requirements and is open to any applicant.

Dubai International Financial Centre (DIFC) announced updates to the Prescribed Company (PC) Regulations, which are designed to broaden the use of PCs, DIFC’s equivalent of Special Purpose Vehicles or SPVs.

The updated PC Regulations significantly expand and simplify the existing PC regime, enhancing DIFC’s offering as a jurisdiction for efficient holding and structuring vehicles, while maintaining a proportionate approach to governance and regulatory oversight.

The updated PC Regulations expand access by removing previous qualifying requirements and is open to any applicant. Unless exempt, any person can apply to establish or continue a PC in DIFC provided they use a DIFC licensed Corporate Services Provider (CSP) as the primary administrative and compliance interface with the DIFC Registrar of Companies (RoC).

These changes materially increase access to DIFC’s special purpose vehicle regime and enable a far wider base of applicants to utilise DIFC’s first class legal regime for legitimate holding and structuring purposes, while maintaining appropriate safeguards through proportionate regulatory oversight.

Key features of the updated PC Regulations include the removal of qualifying eligibility criteria, allowing PCs to be established by any applicant, subject to the CSP requirement where applicable.