John Martin St.Valery OBE [JohnMSV.]

Hope that everyone is coping as best they can and all will be back to normal for my visit to Dubai and Abu Dhabi next week. Keen to hear about developments in private wealth structuring and disputes -with an obvious focus on the Appleby jurisdictions. We advise on 8 laws from 10 offices. #trusts #succession #governance #familyoffice #familyfunds

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An interesting piece on the trend of HNWI’s choosing the UAE by our colleagues at EER Middle East. Given the likely changes in the political landscapes in multiple countries in the coming weeks and months, it may be of interest to many in my network. #canada #business #immigration #uae #economicdevelopment #globalmobility enquiries@nickellane.ca

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IPO NEWS: The first-ever education technology company to be listed in the UAE, Alef Education Holding plc announces its intention to list on the Abu Dhabi Securities Exchange. Glad to act as lead issuer's counsel on such significant IPO 1st IPO for educational technology company in the UAE 1st IPO on ADX in 2024 2nd IPO for IBRAHIM .N. PARTNERS in one month (after Spinneys) #equity #capital #markets #equitycapitalmarkets #raise #initial #public #offering #ipo #education #technology #personalised #learning #solutions #digital #resources #provider #grades #governments #primary #gc #MENA #menaregion #middleeast #secondary #schools #educators #students #parents #abudhabi #UAE #adx #markets #worldwide

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Abu Dhabi launches 'Unified Economic Licence' to enhance ease of doing business The new initiative unifies procedures for registering economic licences across the Emirate and its free zones The Abu Dhabi Department of Economic Development (ADDED) in collaboration with the Abu Dhabi Free Zones Council launched the Unified Economic Licence in Abu Dhabi, spearheaded by Khalifa Economic Zones Abu Dhabi (KEZAD Group), Abu Dhabi Airports Free Zone (ADAFZ), Masdar City Free Zone, and Creative Media Authority (CMA) to bolster the Emirate’s competitiveness as a business-friendly destination for investors and entrepreneurs. The new initiative unifies procedures for registering economic licences across the Emirate and its free zones, in a move to streamline business setup and reinforce governance and transparency. This will introduce a standardised reference number for all licences and ensure company data remains current within a newly integrated Abu Dhabi registry, simplifying data management and fostering collaboration between free zones and mainland authorities. Investors will benefit from a seamless and faster digital setup process, reflecting Abu Dhabi's commitment to continuously improve the business ecosystem and solidify Abu Dhabi's position as a global business hub. To ensure a smooth transition, representatives from entities responsible for economic licence registration have formed a task force. #uae #abudhabi #added #boostingefficiency #licensing #legaladvice #businesssetup #freezones

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Check out my latest article, "Miracles in the Making: Medically Assisted Reproduction in the UAE" now in the April 2024 issue of Corporate Investment Times. Get the full piece here: https://lnkd.in/d_TYh9zq You can also explore the whole April edition by clicking this link: https://lnkd.in/dQ4w5SWV #article #medicalinsights #reproduction #uaereproduction #timesmagazine #newedition #legalinsights 

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Here's how we assist our clients in the UAE, KSA, Qatar and Oman:  1. We assess business activities and identify the applicable regulatory framework; helping you to determine the licences and approvals required to enable your business activity. 2. We advise on the most suitable legal structure for your business. 3. We provide end-to-end support with the financial regulatory licence application process.     Feel free to reach out to us directly for more information. #addleshawgoddard #aglaw #financialservices #regulation #GCC Addleshaw Goddard Middle East Anna Zeitlin Aqsa Ayaz Solangi

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The Federal Tax Authority (FTA) has released the Taxpayer Charter, outlining rights and obligations for taxpayers in the UAE. Key points: - Khalid Ali Al Bustani highlights importance of charter in raising awareness. - Charter aims to enhance transparency and compliance in the UAE tax system. - List of rights includes fair treatment, access to information, and right to representation. - Obligations include providing accurate information and cooperating with the FTA. What are your thoughts on the new Taxpayer Charter in the UAE? #Compliance #Transparency #taxpayersrights #taxpayercharter #uaetaxsystem

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We live in unprecedented turbulent times with much political volatility, the impact of which can be clearly evidenced by the statistics detailed in Henley & Partners - The Firm of Global Citizens® Private Wealth Migration Report 2024. The #UAE remains a popular choice for many of the wealthy seeking a stable, peaceful and qualitative life, with plentiful cross border business opportunities. To understand why the UAE continues to attract significant talent and wealth, read the full report below ... #privatewealth, #familyoffices, #DIFC, #wealthmanagement, #investmentmigration #Dubai, #UAE, #familybusiness, #privateclient, #crossborderestates, #tax, #succession, #privatebanks, #trusts, #foundations

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As a lawyer, I must confess to my excitement when legislation is developed that places good governance at the forefront of the business activities that we carry out in the UAE. Sad, I know! But good governance creates transparency, trust and value which translates to financial success. So why wouldn't you implement good governance throughout your business ...? For more information on how CBD Corporate Services can support your company's journey to good governance contact enquiries@cbdcorporateservices.com for more information.

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You can read my latest thoughts on #PrivateWealth and the #UAE via Passle below: https://lnkd.in/edGvcpyk

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Historically entrepreneurial businesses with a UAE subsidiary had to have control of that UAE entity held by a local Emirati, which created problems for a corporate parent seeking to access the prized EMI and EIS arrangements in UK. Changes to UAE corporate law now mean there is opportunity to revisit ownership of a UAE subsidiary and potentially make this a qualifying subsidiary for EMI and EIS purposes. See our article below. ⬇ Is it perhaps time to refresh your advice on group structuring and incentives? https://lnkd.in/eF8EADr7 #Tax #EIS #EMI #SharePlans #UAE #GroupStructure #Corporate

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Exciting News for Businesses in Abu Dhabi: ADGM Announces Significant Reductions in Licensing Fees. The Abu Dhabi Global Market (ADGM), the leading international financial center, has announced major changes to its licensing fee structure. This initiative aims to enhance the attractiveness and accessibility of ADGM for various enterprises, fostering a vibrant business ecosystem. Starting January 1st, 2025, significant cost savings will be available for non-financial and retail businesses. New non-financial registrations see a 50% reduction from USD 10,000 to USD 5,000. Annual renewals for the same category decrease by 37.5%, dropping from USD 8,000 to USD 5,000. The retail sector benefits even more, with new registrations slashed by two-thirds (USD 6,000 to USD 2,000) and renewals experiencing a 50% reduction (USD 2,000 annually). The new fee structure coincides with the expiry of the current transition period for Al Reem Island businesses on December 31st, 2024, and applies across the entire ADGM jurisdiction (including both Al Maryah and Al Reem Island). These revisions follow consultations conducted in 2023 with Al Reem Island businesses to ensure a smooth transition for the expanded jurisdiction and evolving commercial landscape. Important Notes: The previously introduced fee exemption for qualifying non-financial and retail businesses on Al Reem Island ends on October 31st, 2024. Fee revisions for other categories include an increase in the financial category (USD 15,000 to USD 20,000 for new registrations and USD 13,000 to USD 15,000 for renewals). Tech and fintech startups see a minor adjustment, with fees increasing from USD 1,000 to USD 1,500 for both new and existing license renewals. The Special Purpose Vehicle (SPV) category fee remains unchanged at USD 1,900. The full, comprehensive fee schedule for new registrations and license renewals from January 1st, 2025, will be published in December. Considering establishing a business in Abu Dhabi? ADGM's revised fee structure presents a compelling opportunity. Stay tuned for the complete fee schedule and explore the exciting possibilities ADGM offers.

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The UAE: A Haven for Family Businesses Get insights on how the new framework strengthens family businesses. Get the details on Growbal by OH LLP's legal experts: https://lnkd.in/em2SrNJy #UAE #FamilyBusiness

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More on UAE CIT aspects of investment managers and funds!

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Captivating Insights from the Dubai FinTech Summit: An Exclusive Interview with HALO Invest's Senior Executive Officer, Sadiq Hussain: https://lnkd.in/dPa67797 Facilitated and hosted by ZEX PR WIRE®, this was a thought-provoking interview about Halo's groundbreaking approach to democratizing structured notes. Super interesting. #structurednotes #doingfinancedifferently #regulatedentities #regulatedfinance #insuranceforyourinvestments #thinkoutsideofthebox #legalcounsel #legalandcompliance #legalandfinance #legalandthefinancialmarkets

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Family businesses are pivotal in shaping the UAE's financial landscape, yet they face governance and dispute resolution challenges. The Family Business Law marks a significant step forward in addressing the unique challenges family-run businesses face in the UAE. Delve into our article for strategies on effectively navigating these complexities. #FamilyBusiness #UAE #BusinessLaw #Governance #SKLegalConsultants

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Reviewing the memorandum of association (MoA) of a UAE mainland entity can be cumbersome. If you need to make any significant changes to the particulars of a mainland entity—such as its activities, managers/directors, or a change in its shareholders—then shareholders must execute an amendment to the MoA. This results in the MoA of a mainland entity typically consisting of the original version along with a series of amendments attached to it. Reviewing such an MoA can be inconvenient, particularly when the target doesn't share all the amendments to the MoA, or just the MoA and not its amendments. In transactions where the mainland entity is the acquisition target, we usually prepare a restated MoA. This restated version consolidates all prior versions of the MoA and its amendments. A restated MoA will most likely need to be executed before a private notary, especially if you want to incorporate provisions from the shareholders' agreement. This is because securing approval for an out-of-the-ordinary MoA from a public notary can be challenging. What challenges have you faced with amending an MoA? #UAEbusiness #UAElaws #mergersandacquisitions

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Under the CT Law, the Federal Tax Authority (FTA) oversees the administration, collection, and enforcement of corporate and other federal taxes in the UAE. The FTA provides essential guidance, responds to clarifications, and conducts awareness sessions to ensure compliance. This law applies to all taxable persons, including both Resident and Non-Resident individuals and entities. A Resident person encompasses juridical or natural persons and Free Zone persons who are either incorporated, established, or recognized in the UAE, effectively managed and controlled in the UAE, or conducting business activities in the UAE. Conversely, a Non-Resident person is defined as one who has a Permanent Establishment (PE) in the UAE, derives state-sourced income, or possesses a nexus in the UAE as specified by a Cabinet decision at the suggestion of the Minister. I, along with my colleagues Sumit Kochar, TEP and Jaydeep Saha from Dolce Vita Advisors, have authored an article on Mondaq discussing the impact of corporate tax on real estate transactions in the UAE. Our article covers how the UAE taxes real estate capital gains and rental income for both entities and individuals. This information is invaluable for anyone considering buying real estate in the UAE or structuring their real estate investments. Read the full article here: https://lnkd.in/d-uP_-QC #UAE #CorporateTax #RealEstate #Taxation #Investment #DolceVitaAdvisors

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UAE - did you know that pension contributions have increased for UAE nationals entering the workforce from 1 January 2024? The UAE pension scheme for nationals continues to be (possibly) the most favourable in the GCC. FEDERAL DECREE-LAW NO. (57) OF 2023 (Issued on 02/10/2023) REGARDING PENSIONS AND SOCIAL SECURITY 11% employee contribution - 6% more than the previous law from 1999; 15% employer contribution (government pays 2.5% (under certain conditions)) 3k to 70k – contributable salary Private sector employers receive a 2.5% subsidy for nationals with a Contributable Salary below AED 20,000  

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