Dubai sees 14% growth in number of registered companies

The number of companies registered with Dubai’s International Financial Center (DIFC) has grown 14% in the last 12 months, with over 2 thousand firms now active.

DIFC announced new companies from various parts of the world joined the centre during the first half of 2018. The total number of active registered companies in DIFC reached 2,003 at the end of June, up 8% from 1,853 as of 31 December 2017 and 14% year-on-year from 1,750.

“Our years of outstanding achievements further strengthen the strong confidence that DIFC’s partners from around the world have both in Dubai and the centre. We are committed to further enhancing these partnerships as we continue to provide our growing community with an integrated platform for growth,” Sheikh Mohammed bin Rashid Al Maktoum, prime minister of the UAE, said in a statement.

The number of companies regulated by the Dubai Financial Services Authority (DFSA) reached more than 614 companies, 493 of which are financial services firms, according to the report.

Contributing to the development of Dubai as a global investment hub has been a key priority for DIFC, and an component of its 2024 growth strategy.

“DIFC is pleased to report an impressive start to 2018. The new clients who have opened in [the] DIFC range from fintech start-ups [that] are supported by our vast ecosystem, through to global industry giants,” Arif Amiri, chief executive of the DIFC Authority, said.

ABOUT THE AUTHOR
Pedro Gonçalves
Pedro Gonçalves is Financial Correspondent at International Investment.

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