Access to Dubai’s Fund Market
Dubai has emerged as a leading commercial hub with state-of-the-art infrastructure and a world class business environment. The Dubai International Financial Centre (“DIFC”) provides a secure and efficient platform for business and financial institutions to reach into and out of the emerging markets of the region. The quality and range of the DIFC’s independent regulation and courts, common law framework, supportive infrastructure and its tax-friendly 0% regime make it the ideal base for financial and business services. Despite this, high costs and other barriers to entry make it difficult to set up an operational presence in the DIFC for external fund managers and new market entrants, who otherwise see it as an ideal fund domicile. Platforms present the perfect mechanism for launching funds in a respected jurisdiction. They naturally have the benefits of their shared cost structures, established networks and potential to increase distribution through their capital introduction capabilities.
In a recent MENA Fund Manager article, Maples Fund Services’ Regional Head of Fund Services – Middle East, Fred Tabbal, discussed the firm’s relationship with Gateway Investment Management Services, an external asset management platform, which provides effective structuring, hosting, operational and compliance services for DIFC-domiciled funds, offshore funds and their external advisers. The firm’s joint efforts have led to the successful launch of several DIFC Funds on the Gateway platform, covering several asset classes and structures with Maples Fund Services providing comprehensive fund administration services.