|Real Estate News|
Properties in DIFC
Located at the crossroads of the major international capital markets of New York and London (in the West) and Hong Kong (in the East), Dubai is the complementary hub connecting the region with the 24 hour/7 days a week global financial network.
The Dubai International Financial Centre was conceived by the Government of Dubai for the benefit of the UAE and the wider region as a whole. Its remit is to create a regional capital market, offering investors and issuers of capital world-class regulations and standards. Its hallmarks are: integrity, transparency and efficiency.
As a new global jurisdiction for financial institutions, the DIFC offers its participants a highly attractive investment environment, including:
- 100 percent foreign ownership
- zero percent tax rate on income and profits
- wide network of double taxation treaties available to UAE incorporated entities
- no restrictions on foreign exchange or capital/profit repatriation
- dollar denominated environment
- transparent operating environment with high standards of rules and regulations
- strict supervision and enforcement of money laundering laws
- ultra modern office accommodation, state-of-the-art technology, sophisticated infrastructure, data protection/security, operational support and business continuity facilities of uncompromisingly high standards.
But unlike ‘offshore’ tax havens, the DIFC is a fully fledged ‘onshore’ capital market, comparable to Hong Kong, London and New York.
The Dubai International Financial Centre has been designed to:
- Attract liquidity back into investment opportunities within the region and contribute to its economic growth
- facilitate planned privatisations in the region and enable initial public offerings by privately owned companies, giving impetus to the programme of deregulation and market liberalisation throughout the region
- create added insurance and reinsurance capacity - 65 per cent of annual premiums are reinsured outside the region
- develop a global centre for Islamic Finance - this is now an over $260 billion international market serving large Islamic communities stretching from Malaysia and Indonesia to the United States
The DIFC will act as a catalyst to the region’s economic development - just as Wall Street, the City of London and Hong Kong have contributed to the growth of the US, European and Asian economies.