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Consultation Paper No. 20 DFSA's Draft Policy Statement on Start-Up Entities
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Consultation Paper No. 20 DFSA's Draft Policy Statement on Start-Up Entities

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OCTOBER 2005

THE DUBAI Financial Services AUTHORITY ("DFSA") CONSULTATION PAPER ADDRESSED TO PARTIES INTERESTED IN THE DEVELOPMENT OF Financial Services AND MARKETS Regulation WITHIN DUBAI'S FINANCIAL FREE ZONE (THE "DIFC")

The purpose of this paper is to publish for consultation the DFSA's Draft Policy Statement on Start Up Entities, which is attached as Annex A.

The policy as outlined in paragraphs 1 and 2 of the draft Policy Statement will come into effect on 1 January 2006. The DFSA now invites comments on the provisions of the draft Policy Statement relating to the manner and process of implementation of that policy.

Subject to comments received, the Policy Statement will be finalised by the Chief Executive pursuant to his powers under Article 36 of the Regulatory Law 2004.

Should you wish to submit comments, please provide details of the organisation you represent. The names of commentators and the content of their submissions may be published on the DFSA website and in other documents to be published by the DFSA. If you wish your name to be withheld from publication, please indicate this when you make your submission.

Any comments should be addressed to:
Errol Hoopmann
Special Counsel
DFSA
PO Box 75850
Dubai, UAE

All comments should be provided in writing, or e-mailed to ehoopmann@dfsa.ae on or before 3 November 2005.