Following a landmark Dubai court case where an adviser was convicted of operating without a licence, there are indications that regulators in the UAE are about to step up their enforcement efforts.
Dip into a real-life case study of a high net worth client whose complex multi-jurisdictional circumstances need a structural framework for the long term.
The UAE has introduced more regulations to clarify the rules surrounding the promoter’s licence, but while applications are already in, some areas could still be open to interpretation.
Financial advisory firms operating in the UAE say while they still have questions about how the government’s new Value Added Tax (VAT) impacts the financial sector, it is better to be safe than sorry and assume it applicable to the services they provide.
How ready are financial advisers for the wave of new rules expected to be firmed up and introduced by regulators in the UAE during 2018 and beyond?
Zurich International Life’s Andrew Dawson gives insights into the prospects for financial advisers in Dubai and elsewhere in the region.
Pension schemes could soon be available for expat workers in the UAE, following a study that recommends replacing traditional end-of-service gratuity schemes with a savings investment fund.
The Securities and Commodities Authority (SCA) in the UAE has released long-awaited details of its new Financial Promoters licence, boosting hopes that the permits for financial advisers and banks will soon be issued.
One of the key industry figures in the region, the Middle East’s head for deVere Acuma Nigel Green has told International Adviser that “everybody is moving in the direction of a 1% per annum type model”.
The UAE Government is considering introducing further taxes in addition to value-added tax but has confirmed that a levy on income will not be up for discussion.
UAE officials should not be overly concerned about the jurisdiction’s inclusion in the European Union’s tax haven blacklist, despite pledging to get it removed, an international tax expert has said.
Dubai wealth managers have questioned why countries like the US and Switzerland have been left off the EU tax haven blacklist but the UAE has been included.
