T&F Tax and Finance (Tax and Finance) today announced the official launch of their new regional office in the Dubai International Financial Centre (DIFC).
The new office will provide trust services to clients in the UAE and the wider region and becomes one of the first independent trustee service providers to be licensed and regulated by the Dubai Financial Services Authority (DFSA).
Tax and Finance is an international tax advisory consultancy group, a leader in the provision of tax structuring, trust and fiduciary services to international investors.
Commenting on the launch of the new office, Andrea Primicerio, Senior Executive Officer, said:
“The opening of the Dubai office of the Tax and Finance Group represents our commitment to the region and our confidence in the world class environment created within the DIFC. As institutions and individuals begin to utilize the DIFC Trust and Investment Trust Laws, the role of an independent trustee provider authorised by the DFSA will become increasingly more important.”
We look forward to creating new opportunities in this fast growing market as well as strengthening the services we provide to our existing clients.”
Abdulla Al Awar, Deputy Managing Director of the DIFC Authority said: “As the world’s fastest growing financial centre, the DIFC is committed to the improvement and enhancement of the products and services available in the region. At the DIFC, we provide a strategic hub for the world’s most respected financial institutions, and having a leading global tax advisory consultancy group with an active regional track record such as Tax and Finance on board reaffirms our position as the region’s international financial centre.”
Since its opening in 2004, the DIFC has quickly established itself as a global financial centre for the region. With a clear vision to shape tomorrow’s financial map with Dubai as a global gateway for capital and investment, the DIFC has facilitated the growth of an industry which has become an integral component of the vision for Dubai. It is estimated that the contribution of financial services to Dubai's GDP will more than quadruple from $3.4bn today to $15bn by 2015.
About the DIFC:
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services.
In just three years, over 550 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
