Dubai International Financial Centre
Dubai International Financial Centre (DIFC)
The Dubai International Financial Centre (DIFC) is the world's newest financial hub, was declared open for business
in 2004. The DIFC is ideally located to bridge the gap between existing financial centres of London and New York in the West
and Hong Kong and Tokyo in the East. It will service a region with the largest untapped emerging market for financial services.
The vision of the DIFC is to shape tomorrow's financial map as a global gateway for captial and investment. Its mission is to be a catalyst
for regional economic growth, development and diversification by positioning the DIFC as a globally recognised financial centre.
A hub for insitutional financial services, DIFC has been designed to:
- Divert the regional 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 program of
deregulation and market liberalization througout the region.
- Create added insurance and reinsurance capacity - 65 per cent of annual premiums are re-insured 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 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 and International capital market, offering investors and issuers of capital world-class regulations and standards.
Its hallmarks are: integrity, transparency and efficiency. The DIFC will act as a catalyst to the region's economic development - just as New York, London and Hong Kong have contributed to their respective economies.
All of these institutions will receive benefits such as 100 per cent foreign ownership, zero per cent tax rate income and profits, a wide network of double taxation treaties available to the UAE incorporated entities, no restrictions on foreign exchange, freedom to repatriate capital and profits without restrictions, high
standards of rules and regulations, ultra-modern office accommodation, sophisticated infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
The physical infrastructure is also a major factor in enticing international business to locate in the DIFC. So much
more than just a financial district, the DIFC is planned to be a 'city within a city' that will comprise of a unique integration of buildings and open spaces with over 65% of the total site landscaped with specific green zones. It will ultimately provide over 22million square feet of ultra modern office space, residential and leisure areas which will include
offices, serviced apartments, hotels, shops, restaurants, a museum, an art gallery and a performing arts centre.
Dubai International Financial Centre Resources
Dubai International Financial Centre Official Website
Dubai Construction Photos
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