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Over 200 SPVs For Dubai International Financial Center

by Lorys Charalambous, Lowtax.net, Cyprus
16 May, 2017

The Dubai International Financial Centre has announced that the number of special purpose entities registered in the zone has exceeded 200.

The special purposes entities, comprising special purpose vehicles (ISPVs), and special purpose companies (SPCs), support a broad spectrum of industry sectors, including transport, education, and energy. Users of these entities include regional companies, family businesses, and international conglomerates.

ISPVs are used by a range of businesses, and often serve as a succession planning tool for private or family companies. In addition, fund management companies use them to ring-fence assets and liabilities from other fund structures within the same company group.

SPCs are used for specific structured financial transactions, such as structured Islamic or conventional financial transactions (including securitization, structured debt, or sukuk issuance), as a loan facility, or finance transaction as part of a corporate acquisition.

Arif Amiri, the CEO of the DIFC Authority, said: "DIFC is now home to more than 200 SPCs and ISPVs that are becoming increasingly popular as financing structures, particularly in the Middle East, Asia, and Africa. This milestone reinforces the financial hub's status as a domicile of choice for innovative structured finance transactions."

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