Companies flock to tax-free Dubai International Financial Centre

Dubai International Financial Centre said the number of companies operating from the tax-free business park rose 7 per cent last year.

Dubai International Financial Centre (DIFC) said the number of companies operating from the tax-free business park rose 7 per cent last year.

The number of active registered companies climbed to 848 at end of last year from 792 a year earlier, it said in a statement today. The centre seeing increased interest from Asia, sustained interest from Middle East, Europe and the Americas, it said.

Dubai set up DIFC in 2004 to attract international banks, asset managers and insurers to help diversify its economy. The business park is home to the regional offices of banks including Citigroup, Goldman Sachs Group and Morgan Stanley.

*Zainab Fattah