Dubai-headquartered IFA firm Globaleye has hired a regulatory compliance expert to ensure the company meets the rapidly growing demands of watchdogs in the countries where it operates worldwide.
The main regulator of life companies in the UAE has confirmed it will go ahead with a ban on indemnity commissions, limits to fees and charges on industry products and tighter rules on financial advisers.
The United Arab Emirates formally signed up to what the OECD calls ‘the most powerful multilateral treaty against offshore tax evasion and avoidance’, on Friday.
Ex-deVere UK managing director Mike Coady is heading up Guardian Wealth Management’s new corporate solutions division in the UAE.
The scale of regulatory change facing advisers in the Middle East will force major changes on the advisory industry and survival will require the interests of customer, distributor and provider to become more aligned, argues David Thompson of FPI.
Goldman Sachs Asset Management (GSAM) has become the first firm to register foreign investment funds for retail investors in the UAE under the new mutual fund regulation introduced by the Emirates’ Securities and Commodities Authority (SCA).
Dubai-headquartered Oman Insurance Company (OIC) has launched a new single premium insurance plan which offers a portfolio of exchanged-traded funds (ETFs) with built-in downside protection.
From the new Qrops tax charge in the UK to the growing international mobility of clients, financial advisers in Dubai give their views on the challenges they face in helping clients plan for their retirement.
South African expats working in the Emirates could be exempt from a new tax on their foreign income under the terms of a recently-signed double tax treaty between South Africa and the United Arab Emirates (UAE).
Asia has traditionally been the principal market outside the UK for international life business but growth in sales from the two key regional hubs of Hong Kong and Singapore has come to a halt, says Provisca founder Bryan Low.
Details of the VAT system to be introduced for the first time in the UAE reveal that the standard rate of 5% will be levied on fee-based financial advice but not on the sale of life products.
Dubai residents who fail to secure mandatory health insurance cover before 1 April will face a fine of AED500 (£109, $136, €126) per month and risk their visa status.
