The United Arab Emirates Constitution was amended in 2004, to allow for the establishment of financial freezones and the boundaries within which they are exempt under the rules and regulations of the United Arab Emirates (UAE). Under the constitutional amendment, Federal Law No. 8/2004 On Financial Free Zones was enacted. This enabled the establishment of financial freezones by Federal Law No. 8/2004. Federal Decree No. 35/2004 On the Establishment of a Financial Free Zone in the Emirate of Dubai established the Dubai International Financial Centre (DIFC).

The internal regulations which apply in the DIFC are the DIFC laws enacted by the Ruler of Dubai and administered by either the DIFC Authority (DIFCA) or the Dubai Financial Services Authority (DFSA).