We are thrilled to announce the opening of our first overseas office at the Dubai International Financial Center (DIFC). The Russian Institute of Modern Arbitration received the status of a Recognised Company.
Registration of the representative office in the MENA region is in line with our goal to make arbitration convenient for the parties. The parties to arbitration can now choose the office of the RAC at the DIFC as the place of dispute resolution, while the arbitration will be administered under the RAC Arbitration Rules 2021 with the rates of arbitration fees provided therein. Moreover, as part of our activities at DIFC, we intend to conduct dispute resolution events in the MENA region and further promote alternative dispute resolution.
DIFC is an autonomous financial free zone with its own legal system, which is based on English common law. DIFC offers an independent system of arbitration-friendly courts that operates in English and performs functions of assistance and control if DIFC is chosen as the seat of arbitration. The main currency is the US Dollar. The DIFC incorporation process in many ways resembles audit procedures as it involves the examination of financial statements, compliance policies, and verification of the company’s independence, which strengthens the credibility of the companies recognised by the DIFC.