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2503, 2021

Foreign Ownership in UAE

Exemption from Shari’a Law For Foreign Residents The United Arab Emirates is a Muslim country and is therefore subject to Shari’a Law, whereby heirs and descendants have the right to claim on an estate of a deceased which would then be distributed accordingly to the law irrespective of the deceased wishes. [...]

1703, 2021

Foreign Ownership in UAE

Foreign Ownership in UAE The United Arab Emirates has complex rules when it comes to ownership.  Fortunately it also has a lot of options. Previously under a law passed in 2015 foreign investors could only hold 49% of a mainland UAE company.  However based on recommendations by the Foreign Direct Investment [...]

401, 2021

UK Guidance on Statutory Residence Test

Individuals who freelance abroad are continuing to be hit by complexities due to travel restrictions amid the current COVID-19 pandemic.  The HMRC in the United Kingdom has published a Q&A document in order to tackle clarity on determining an individual’s residency position. It has introduced in some case whereby days can be considered ‘exceptional’ and therefore [...]

1211, 2020

Tax Residence Concerns as a Consequence of Travel Restrictions

The arduous travel restrictions in response to the Covid 19 outbreak have no doubt affected every single person in some way or another.  In particular international freelancers and contractors have specific concerns.  Whether due to an existing contract they found themselves cut off from home or indeed the opposite which saw them unable to take new contracts [...]

2410, 2020

Foreign Investors to be Allowed to Invest in Debt Instruments in Saudi Arabia

Saudi Arabia has recently made announcements concerning both resident and non-resident foreigners which will enable them to be able to invest in both listed and non-listed debt instruments. It is hoped that this will open up its capital markets and therefore boost growth in the private sector in an attempt to widen the country’s economic [...]

2409, 2020

Carried Interest Relief in Hong Kong

The Government in Hong Kong has released a consultation with regards to introducing tax concessions for carried interest distributed by private equity funds.  If approved the relief will come into effect retrospectively from 1 April 2020. The consultation is in response to concerns as to uncertainty surrounding carried interest and calls for exemption or at least [...]

1409, 2020

Dubai Family Joint Ownership Law

On the 13th August 2020 Dubai issued its ‘Regulating Family Ownership Law No.9 of 2020’.  This allows family members to customise and enter into a legally binding contract to enable joint ownership and administration of a wide variety of property excluding publically quoted shares. The ability to tailor and proportion a wide variety of provisions makes this [...]

2808, 2020

Positive Advantages of Setting up a Trust or Foundation

Recent studies and reports have shown that Foundations, Family Offices and Trusts are ideal vehicles in which to drive positive social change. The reason being is that investments and business operations in addition to having much more flexibility do not have ardent protocols and institutionalised decision making to content with.  These types of vehicles normally have [...]

2108, 2020

Mauritius

Mauritius is an island in the Indian Ocean which has become a popular location when dealing with offshore companies and structuring. Mauritius has several policies concerning tax that make it a focus when considering structures such as no capital gains tax. In addition Mauritius has concluded forty six double taxation agreements to date with several [...]

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