Apex Celebrates 10 Years in Dubai

Offering an efficient and flexible approach to fund services, the Dubai office tailors its support to meet the specific requirements of each individual client, assisting with the following:

• Supporting both onshore and offshore DIFC fund structures and SPVs.
• Coordinating the launch of a fund under the classification you require.
• Liaison between promoter, lawyers, regulators, tax advisors and auditors.
• Provision of experienced directors.
• Compliance services.
• Corporate governance and company secretarial.
• Review of constitutional documents.
• Drafting operating procedures.
• Comprehensive fund administration and investor services solutions.
• Fund accounting and net asset value (NAV) calculations.
• Preparation of financial statements and coordination the audit process.

Apex Dubai is based in the DIFC and is regulated by the Dubai Financial Services Authority (DFSA) to deliver services to funds located in the DIFC;

• Cayman
• BVI
• Bermuda
• and other offshore domiciles

Why Apex Dubai?

• Ability to support all types of fund structures.
• Actively involved in the local asset management industry since 2006.
• Strategically located in the UAE to deliver expert local knowledge.
• Part of the Apex Group, the office delivers a true international service to clients.

The Jurisdiction

Located in the heart of the Dubai, the DIFC is home to numerous asset management, fund services and professional support firms. Apex Dubai has significantly enhanced the ability of its clients to provide best practice fund administration to their investors. Apex Dubai can fully service managers in international time-zones and domiciles, across all relevant strategies and asset classes.

The DIFC offers its own regulatory regime and a robust legal framework based on the UK, Widely regarded as the “hub” of the financial services industry in the Middle East, the DIFC benefits from the diversity and depth of financial services support companies based within it, ranging from large multinational groups, to both local and regional players. The DFSA pro-actively supports the development of the domicile and has introduced a number of new fund structures in recent years to allow managers to establish a wide range of fund types in what is a well regulated jurisdiction.

Tax & Legal

The legal regime in the DIFC is largely based on UK Common Law and is supported by its own highly developed court system. The DIFC is a tax neutral environment with no personal, corporate or property taxes. This allows both promoters and investors the ability to manage their own tax position without having to deal with local tax legislation.

Regulation

The Dubai Financial Services Authority (DFSA) is the sole regulator for the DIFC and has worked diligently to develop and expand the local financial services industry. It offers a variety of fund structures, from open to closed ended, and is thus able to accommodate all fund strategies and investment themes.

The DFSA has a technical yet entrepreneurial approach which has proven very successful in attracting new managers to the DIFC. There is a willingness to enter into discussion with interested parties and an ability to detail and meet the timeframes involved in licensing managers and launching fund structures. Global AML rules and investor protection measures are implemented. Dedicated to the promotion and maintenance of a sound yet responsive regulatory framework, the DFSA is aided by the DIFC having its own independent court system with exclusive jurisdiction over commercial cases within the DIFC. Legislation is based upon Common Law principles so providing a stable and robust architecture that underpins the centre’s independence.