New employment regulations and employment law changes come into effect in the Dubai International Finance Centre (DIFC) from 1 February 2020, as part of the newly introduced DIFC Employee Workplace Savings (DEWS) scheme replacing End of Service benefits.
The new regime means employers in the DIFC and Gulf region will have more flexibility and options available to them regarding the provision of defined benefit or defined contribution schemes for employees.
These changes are a positive opportunity for Jersey firms which can offer a variety of services, including international savings plans (ISPs) to employers in the DIFC provided the various conditions are met. DIFC employers can apply to the DIFC Authority for certificates of compliance in respect of Qualifying Schemes before 31 March 2020.
Jersey Finance would be delighted if you could join us, to highlight the opportunities in this area by linking employee savings experts from Jersey with DIFC and Gulf-based employers, and with DIFC agents as their potential local partners.
The seminar will provide an overview of how ISPs are run, based on international standards. Our expert panel will also share best practice and provide insights in relation to experience of the relevant processes so far.