DIFC enacts new venture studio regulations

DIFC enacts new venture studio regulations

Dubai International Financial Centre (DIFC) has enacted the new venture studio regulations, paving the way for the establishment of the first global legal framework for the regulation of venture building. The enactment of the new regulations supports the by providing a legislative framework for venture building. It also promotes the growth of innovative startups and scaleups in the region from within the financial centre. The board of the DIFC Authority enacted the new regulations following a 30-day public consultation period that was announced in February 2023. “The regulations provide the first legislative framework for venture building globally, forming a tailored ecosystem for venture building, entrepreneurs, start-ups and investors to operate from the DIFC,” said Jacques Visser, chief legal officer at the financial centre. The key features of the venture studio regulations include providing the world’s first legislative framework for venture building and establishing legal certainty around the venture-building model. The new regulations clarify how venture studios, entrepreneurs and start-ups interact with each other and the wider market. The regulations, which came into effect on April 26, 2023, facilitate ease of doing business within the venture studio model by implementing specific operational measures to enable the incubation of new business ideas,