DIFC – The Wall Street of an $8 Trillion economy

The Dubai International Financial Center just celebrated its 10 anniversary with a lot of new records. 14% growth in company registrations, 15’600 employees from 131 different nations, 11% of Dubai’s GDP – just to name a few.

Dubai itself is pushing the progress and development of the UAE as a global financial hub. The DIFC set up the framework and benchmarks against international standards to realize these plans. The framework is seen in the high-class infrastructure, services and business opportunities that are provided to costumers.

Banks, law companies and insurance companies are typical costumers for the DIFC. 1’039 companies were registered in the DIFC end of 2013 – 327 or them are providing active financial services such as bank account openings, banking advisory and asset or portfolio management.

While other Emirates transferred their wealth that was generated through the oil- business into prestigious inventions, Dubai has transferred its wealth into the infrastructure that can support business. It seems like that was just the right decision. Abu Dhabi launched the Abu Dhabi Global Market almost 10 years after the DIFC was opened. Now, the DIFC is the world’s fastest growing international financial center and a trading hub. The plan is to invest $4.1 billion for expansion over the next 10 years.

The services that are offered through the costumers of the DIFC are classical banking services for high net worth clients. Starting with an account opening, to the banking advisory and the asset management – companies in the DIFC can provide a full-service package.

34% of the companies located in the DIFC are from Europe. This shows, that the location Dubai and especially the DIFC is very interesting for European clients. Due to various governmental situations in Europe, clients are looking for new possibilities to open a bank account or having their assets managed.The DIFC understands to provide excellent costumer service on a western-oriented standard.

The key to success can be named shortly: Tolerance to foreigners. Dubai started to integrate foreigners in their culture many years ago. This behavior attracted investors from abroad – and the whole development started by itself and turned the DIFC to the Wall Street of an $8 Trillion economy.

Are you interested in the opening of a bank account, banking advisory or portfolio and asset management in the DIFC? Do not hesitate to contact the team of Dubai Banking Advisors today.

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S.F.Y. Management & Consulting FZE

SFY Management and Consulting FZE
Level 14,Boulevard Plaza Tower 1,
Sheikh Mohammed Bin Rashid Boulevard.
Downtown Dubai.
Dubai , United Arab Emirates.

Swiss Tel: +41 44 586 17 12
Dubai Tel: +971 4 368 0831
Dubai Fax: +971 4 455 8556

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