Tuesday 31 July 2012

What does the DIFC offer?

As a new global jurisdiction for financial institutions, the DIFC offers financial institutions and other companies operating within it a number of important benefits and advantages in a highly attractive investment environment, including:

= 100 percent foreign ownership;

= zero percent tax rate on income and profits;

= the freedom to repatriate capital and profits without restrictions;

= operational facilities encompassing modern office accommodation, business continuity facilities, state of the art technical support and data protection facilities, a low cost environment, and the availability of a skilled labour force and highly trained professionals who can be easily outsourced in the region;

= an extensive tax treaty network for UAE incorporated entities;

= internationally accepted laws and regulatory processes;

= a world-class, independent, regulatory agency working alongside other financial regulatory agencies located in major global jurisdictions;

= a wholly transparent operating environment, complying with global best practices;

= a dollar denominated environment;

= an international stock exchange with primary and secondary listings of debts and equity instruments; and

= a variety of legal vehicles that may be established with capital structuring flexibility.

DIFC licensees will not be subject to the relevant UAE or Dubai financial and banking legislation, except for the UAE Central Bank’s anti-money laundering regulations and the Federal Penal Code, imposed within the UAE, which also extend to the DIFC.

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