DIFC Welcomes Insurer Berkshire Hathaway
by Mike Godfrey, Lowtax.net, Washington
15 February, 2018
The Dubai International Financial Centre, the low-tax financial services zone, has welcomed insurance giant Berkshire Hathaway Specialty Insurance Company to its list of global insurance firms.
Berkshire joins more than 200 underwriters, 98 insurance-related entities, and 1,000 insurance specialists who have set up in the center.
Arif Amiri, CEO of the DIFC Authority, said: "We are pleased to welcome a global player like Berkshire Hathaway into our dynamic community at DIFC. The unmatched ecosystem we have created at the Centre, together with the strategic location of Dubai, continue to attract market leaders that are looking to access business opportunities across the Middle East, Africa, and South Asia region."
The DIFC is a free trade zone located in Dubai, which offers a number of perks to firms, including zero percent income tax guaranteed for 50 years and no exchange controls. It allows 100 percent foreign ownership.
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