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Dubai Free Zone To Enhance Wealth Management Offerings

by Lorys Charalambous, Lowtax.net, Cyprus
29 August, 2016

The Dubai International Financial Centre, a free trade zone in the United Arab Emirates, has established the DIFC Wealth Management Working Group to develop an updated wealth management strategy for the free trade zone.

According to the tax-free zone, its key focus areas will be to consider the enhancement of DIFC as a wealth management provider and succession planning platform for GCC families, as well as deepening the DIFC's core offering to the international wealth management community.

The Working Group includes a number of leading global and local professionals in the wealth management industry, as well as representatives from the DIFC bodies.

The DIFC, a free trade zone, offers a number of perks to firms, including zero percent income tax guaranteed for 50 years. It allows 100 percent foreign ownership and has no exchange controls.

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