Expats in the UAE have been advised that banks and other financial institutions will be contacting some of their customers to collect information about their tax status in early 2017, reports local newspaper Gulf News.
AxiomSL, a firm specialising in regulatory reporting and risk management, has announced it will be opening its first Middle East office in the the Dubai International Financial Centre (DIFC).
The main life insurance regulator in the UAE has unveiled plans to tackle high fees and hidden commissions across the industry after receiving what it described as “an alarming amount of complaints from policyholders”.
The United Arab Emirates has ruled out the imposition of any income tax on individuals as its seeks alternative sources of revenue to counter the impact of falling oil prices on the government’s budget.
The Abu Dhabi Global Market (ADGM), the new international financial centre in the capital of the UAE, said it has registered and licensed close to 160 companies from a broad range of industries and sectors in its first year of operations.
Merrill Lynch, one of the ‘big four’ investment banks in the US, will no longer work with US citizens living abroad following the closure of all expat accounts earlier this month, a UK-based IFA firm has confirmed.
US-headquartered SEI is to close its office in the Dubai International Financial Centre next month and will service its Middle East clients from London.
Bouncing cheques will remain a criminal offence in the UAE despite indications that the region’s new bankruptcy law would remove the threat of jail, a senior Emirati lawyer has said.
How will new mutual fund regulation in the UAE impact on portfolio bonds and unit-linked funds?
The Guernsey Financial Services Commission (GFSC) has signed a memorandum of understanding with the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
New mutual fund charges and regulations that could have a dramatic effect on the number of funds offered on international platforms and within life insurance wrappers have become law in the United Arab Emirates.
The United Arab Emirates (UAE) is to get a new bankruptcy law for businesses, including a new regulatory body for financial restructuring, which is designed in part to remove the threat of jail for executives of companies facing financial distress.
