Under the Economic Substance Regulations (“ESR“) most UAE businesses need to prove to the UAE authorities that they are doing business in the UAE (have an “economic substance”). The ESR were implemented to avoid harmful tax practices within the UAE. As the ESR have substantially changed in August 2020, all UAE businesses should now re-assess …
Dear Friends and Clients, It is not to be overlooked: The Gulf region is undergoing a significant liberalisation process. The UAE, Saudi Arabia and now Oman are showing considerable relief in terms of direct foreign investment and in adapting Arab traditions to modern life interests. We have been deliberately waiting for this November newsletter, knowing …
The UAE have made another step in their intense efforts to implement, and comply with, international transparency standards. Cabinet Resolution No. 58 of 2020 on the Regulation of the Procedures of the Real Beneficiary (“Resolution“) entered into effect on 28 August 2020. The Resolution regulates the disclosure and registration requirements regarding all stakeholders in UAE …
Update: UAE Cabinet Resolution requires to maintain “Ownership” register Read More »
Date: Thursday, 29th October 2020 Time: 6.00 pm (Singapore time) Considering the current situation, many companies will no longer be able to meet their liabilities on time and/or in full. The webinar is intended to show ways that are open to companies and individuals in the event of such a crisis and also how to …
Webinar by Dr. Theodor Strohal: Insolvency and Bankruptcy in South East Asia and Austria Read More »
Dear Friends and Clients, The long awaited Retirement Visa for the UAE is finally here! You will find the exact conditions in the newsletter below. In summary, you must be 55 years old, have either a monthly income of AED 20,000 or a cash amount of AED 1 million. Real estate with a value of …
Dear Friends and Clients, What comes as a result of the Covid 19 lockdowns? Is there a big bang and the demise of the capitalist economic system? Is there a complete reorganization of our monetary system, will currencies be abolished? Should we buy bitcoins, real estate or gold? Or withdraw the little cash we have …
Dear Friends and Clients, In this newsletter I will once again write NOTHING about Covid. What you should/must do as a UAE or Thai resident, you can find below. But I want to point out a problem that might be topical in these times, namely the difficulties with the local partner, which can become acute …
Dear Friends and Clients, In the meantime, we have opened our “Eastern European Desk” in our Ras al Khaimah office. It is headed by Mrs. Katya Kisser, LLM, born in Ukraine. She is fluent in Ukrainian, Russian, English and German. Furthermore, we have entered into a cooperation with the Ukrainian Business Council, according to which …
Dear Friends and Clients, In the meantime, the Covid ghost has lost some of its terror and showed its true face. I’m not a conspiracy theorist, but if you follow clever people, at least part of the reason for the scare is probably different from the mere healthcare for the population. In my 70 years …
SECOND RESIDENCE – DECIDE NOW! Sent ahead: We do not sell citizenships in the Caribbean or anywhere else. This article aims to show how important and beneficial it can be to have a residence permit in more than one country. The voluntary acceptance of a foreign citizenship would entail the loss of the own citizenship for some …