DIFC Prescribed Company Regime Enacted Today

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Dubai International Financial Centre (DIFC) has announced the enactment of the Prescribed Company Regulations that we first mentioned back in July of this year. The Prescribed Company Regulations are issued under the Companies Law, DIFC Law No. 5 of 2019 and replaces the former Special Purpose Company Regulations. Under the new regime, existing DIFC structures such as Intermediate Special Purpose … Read More

UAE named the largest FinTech hub in MENA

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According to a report by Abu Dhabi Global Market (ADGM) and MAGNiTT, $237 million dollars has been invested in MENA-based FinTech startups since 2015. FinTech has received 181 investments over 5 years, accounting for 10% of all venture investment deals across MENA. Other key points from the report include; FinTech Investments: 2017 was the breakout year for FinTech investments across … Read More

EU removes UAE from tax haven blacklist

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The European Union (EU) has officially removed the United Arab Emirates (UAE) from the list of “non-cooperative tax jurisdictions” (a.k.a. the blacklist) confirming a rumour that was reported on last week. At a meeting in Luxembourg, ministers decided to drop UAE from the blacklist, along with The Marshall Islands. Mauritius, Switzerland, Albania, Costa Rica, and Serbia were removed from the … Read More

United Arab Emirates set to be removed from EU tax blacklist

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The United Arab Emirates will be removed from the European Union blacklist of countries deemed to be tax havens, according to a Reuters report citing an official EU document. The document allegedly states that the UAE, along with Switzerland and the Marshall Islands, will be removed from the list (officially called “The EU list of non-cooperative jurisdictions for tax purposes”) … Read More