MENA Asset Management Survey 2012 - National Bank of Abu Dhabi
MENA Asset Management Survey 2012 - National Bank of Abu Dhabi
MENA Asset Management Survey 2012 - National Bank of Abu Dhabi
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Middle East & North Africa<br />
<br />
<br />
Suitable regulatory environment to distribute sophisticated niche products such<br />
as structured products, derivatives and ETPs, alternative investments<br />
including Hedge & Private Equity Funds, et cetera<br />
Presence <strong>of</strong> large regional banks in DIFC provides distribution opportunities,<br />
such as ‘white labeling’<br />
5) Tax Efficiencies<br />
<br />
<br />
DIFC has a zero percent tax rate on corporate income and pr<strong>of</strong>its (guaranteed<br />
for 50 years)<br />
UAE's wide network <strong>of</strong> DTAs with 50+ countries<br />
6) Hub & Spoke Model<br />
<br />
DIFC platform to centralise regional/global management <strong>of</strong> activities, book<br />
assets, products structuring, development and roll-out to branches around the<br />
world<br />
7) Free Capital Convertibility and Movement<br />
<br />
<br />
No exchange controls<br />
Dollar denominated environment<br />
8) Subsidiaries and Incorporated Entities<br />
<br />
<br />
<br />
100% foreign ownership<br />
Wide range <strong>of</strong> legal structures out <strong>of</strong> which entities can chose to establish<br />
Facility for representative <strong>of</strong>fice license<br />
9) Legal Framework<br />
<br />
<br />
<br />
<br />
<br />
Common law framework and court system, the DIFC Courts<br />
Independent administration <strong>of</strong> justice from UAE<br />
Laws drafted in English with internationally renowned bench <strong>of</strong> judges<br />
Allows for matters to be heard within the DIFC Courts or in a court in another<br />
recognised jurisdiction<br />
Provides dispute resolution services, including arbitration and mediation<br />
10) Deep cluster <strong>of</strong> service providers and financial services firms<br />
Sizeable number <strong>of</strong> pr<strong>of</strong>essional services firms, including top global legal<br />
firms, big four accounting firms, consultants and recruitment firms<br />
8 <strong>of</strong> the top 15 legal firms present in the DIFC<br />
4 <strong>of</strong> the top 5 accounting firms present in the DIFC<br />
890 companies operate from the centre including 333 regulated firms. This<br />
includes 17 <strong>of</strong> the top 25 <strong>Bank</strong>s, 10 <strong>of</strong> the top 20 Money Managers and 8 <strong>of</strong><br />
the top 10 insurance companies.<br />
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