UAE Business: DMCC, Monaco MoU to target ultra-rich – Gulf Digital News

UAE Business: DMCC, Monaco MoU to target ultra-rich – Gulf Digital News

Focusing on Ultra High Net Worth Individuals and family offices, DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, has signed an MoU with Monaco.   

The MoU also aims to aims to further strengthen the economic synergies and expand bilateral trade relations between Monaco and Dubai.

The MoU was signed by Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, and Michel Dotta, Chairman, Monaco Economic Board (MEB). 

With both Dubai and Monaco being two of the most popular places for the world’s ultra-wealthy, the agreement targets enabling Ultra High Net Worth Individuals (UHNWI) and family offices, with DMCC serving as the premier destination to set up a global business. 

Bin Sulayem said: “Doing away with all direct taxes since 1869, Monaco’s recipe for governance has proven to be highly successful, resulting in virtually no public debt. Monaco was also one of the first nations to commit to Expo 2020 Dubai, with their impressive pavilion also being one of the first to be completed. 

“As such, Monaco represents one of our priority markets and we are proud to sign this agreement with the Monaco Economic Board. The agreement will