Dubai March 28:The Cyprus banking raid has shocked citizens of the EU to their core and left a question mark on democracy. With rumors circulating that this could spread to other EU member states investors and savers are in a frenzy to secure their assets in a safe and stable jurisdiction.
Dubai is emerging as the jurisdiction of choice for investors and this is due to the political stability, business friendly environment and continued economic growth through some of the most turbulent financial times the World has witnessed.
Ibrahim Mohammed, Managing Director of PBS (DIFC) said: “EU investors are in a complete frenzy at the moment. We are receiving dozens of enquiries a day to provide safe solutions based in Dubai. This is the biggest demand for IBC companies we have received in our 6 year history”.
IBC companies are International Business Companies which are used for holdings or funds. IBC’s are allowed to hold local bank accounts and investments however they cannot conduct business in the UAE.