Dubai International Financial Centre Offers Most Advantageous Environment For Financial Sector Growth
With its strategic location between the east and west, Dubai International Financial Centre (DIFC) is able to supply businesses, investors, and financial institutions with the efficient and secure platform they need to get into and out of the region’s rising markets. No wonder, it is now considered a world-class onshore financial center established to bridge the time-zone gap between the world’s leading financial centers of New York in North America, London in Europe, and Hong Kong and Tokyo in the East. Its core values, which include transparency, integrity, and efficiency, help Dubai International Financial Centre in meeting the region’s growing financial demands.
The range and quality of DIFC’s independent regulation, tax-friendly regime, common law framework, as well as supportive infrastructure make it the ideal place for people who want to benefit from the region’s speedily growing demand for financial and business services. Primarily, it serves the enormous region between Europe and East Asia.
Dubai International Financial Centre | DIFCC’s Areas Of Business
A wholesale financial centre that caters to institutional investors, DIFC isn’t a place for retail financial businesses. Dubai International Financial Centre offers its services to the following areas of business:
1. Banks
From DIFC, investment banks will be able to service the growing financing needs of the region as well as support the increasing sophistication of those businesses operating in and nearby the region.
2. Capital Markets
Dubai International Financial Centre provides a wholesale platform for financial intermediaries and investment banks, making them able to service the region’s capital market with M&A advisory, trade finance, underwriting, brokerage service, private banking, venture capital, and trade finance.
3. Wealth Management
DIFC’s legislative and regulatory regime has paved the way to a secure and highly supportive environment for the expansion of the funds industry. The Funds Regime allows for the domiciliation, management, and distribution of funds from DIFC; this is in compliance with IOSCO Principles. Also, DIFC offers a highly attractive opportunity for the world’s biggest asset management firms, hedge funds and private equity firms, as well as private banks to gather and manage this growing pool of assets closer to their client base.
4. Insurance
Dubai International Financial Centre works to promote the growth of a flourishing regional insurance market. International and regional insurers, brokers, and reinsurers are attracted to establish themselves in the centre because of its world-class infrastructure, legislation, and regulation
5. Global Corporates
Most multinational corporations and regional conglomerates set up their head or regional office in the DIFC, where their business’ global management and strategic leadership activities do happen.
6. Professional Services
In this financial district, you can explore an unparalleled professional services opportunity. Through its world-class technology and associated infrastructure, a group of multilingual and highly skilled professionals, this centre has magnetized many professional service providers such as accounting and audit, risk management, legal, data and research providers, consulting, compliance, and recruitment.
7. Management Offices
With its unmatched legal framework and tax offering, DIFC has pulled a variety of management offices including proprietary investment offices, marketing operations, single family offices, and holding companies.
8. Retailers
Over the years, professionals working within Dubai International Financial Centre demand for outstanding business and lifestyle facilities. Fortunately, they can now have three distinct retail zones to choose from. These are the Gate Village, which focuses on fine dining and art galleries; the Marble Walk, which offers retail convenience, takeaway meals, and essential services; and the Balcony, a place that focuses on casual dining options.
Why Set up in the Dubai International Financial Centre?
As a new hub and global authority for financial institutions, Dubai International Financial Centre offers all the companies operating inside it a number of significant advantages in a very attractive investment environment. These benefits include:
- 100 percent ownership
- zero percent tax rate on income and profits
- freedom to repatriate capital and profits without restrictions
- operational facilities which include state-of-the-art office accommodation, business continuity facilities, as well as advanced technical support and data protection facilities.
- low cost environment
- availability of a skilled labor force and experienced professionals who can be easily outsourced in the region
- extensive tax treaty network for UAE incorporated entities;
- globally accepted laws and regulatory processes
- top-notch, independent, regulatory agency
- fully transparent operating environment that complies with international best practices
- dollar denominated environment
- international stock exchange that ensures primary and secondary listings of debts and equity instruments
- various legal vehicles built with capital structuring flexibility
Among DIFC’s clientele are 16 of the world’s top 20 banks; 8 of the world’s top 20 largest asset managers; 4 of the world’s 5 largest insurance companies; and 6 of the top 10 global law firms.
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