Tax & Law

Europeans abroad beware! Inheritance Laws will be EU-regulated from 2015.

(Dubai & Berlin, 30/09/2014) The increasing “European-ization” of all areas will now also make no longer halt before inheritance. At least, once international background is concerned. The main changes with validity for successions from 17/08/2015 – an overview. On 17/08/2012 already, the new European Inheritance Regulation (Regulation EU No. 650/2012) entered into force across the […]

UAE 12th most competitive nation globally, moves up 7 places in World Economic Forum Ranking

(Dubai, 04/09/2014) This week the World Economic Forum (WEF) published the results of its annual Global Competitiveness Report (GCR) 2014-2015 with impressive rankings for the United Arab Emirates (UAE). In the actual GCR, the UAE advanced a fulminant 7 places in the overall competitiveness of its economy within just one year. UAE became now the […]

New Compliance Regime in DMCC – Unreasonably

(Dubai, 30/08/2014) Since June/July this year, licensees of Dubai’s DMCC start to rub their eyes when it comes to their annual license renewal. Out of the blue, the Free Zone Authority hands out a “DMCC Inspection Form” to its clients. Since its establishment in 2002, the former Duplex Free Zone DMCC (Dubai Multi Commodities Centre) […]

E-Labour Cards implemented in UAE – Hefty Fines for Delays

(Dubai, 14/07/2014) The UAE Ministry of Labour (MOL) has announced that it will stop the usage of the old plastic labour cards & paper contracts starting from July 13, 2014. The Ministry will bring in new electronic work permits & contracts in lieu of the old ones. Who ever wondered about the deeper purpose of […]

US Tax Payers – the IRS will fleece now your Bitcoin Wallets!

(Dubai, 26/03/2014) Finally, Virtual Currency (VC) Tax Rules – including the most popular, Bitcoin – came to the US on March 25! Several insiders predicted that the government will probably mandate special VC/Bitcoin Reporting on foreign disclosure forms. So far, a number of other countries have already issued their own tax rules on Bitcoin and […]

Hong Kong and USA Work Toward FATCA IGA

(Hong Kong, 2014-03-26) On March 25, Hong Kong and the United States signed a Tax Information Exchange Agreement (TIEA), which will provide the necessary basis for Hong Kong to enter into an Intergovernmental Agreement (IGA) to adhere to the United States' Foreign Account Tax Compliance Act (FATCA). Hong Kong's Secretary for Financial Services and the […]

FATCA – UAE on proper path to sign as well

(Dubai, 08/09/2013) According to various publications and press releases of the UAE Central Bank, the bi-lateral signing of Foreign Accounts Tax Compliance Act (FATCA) between the U.S. and UAE can be expected before the end of 2013. The Governor of the UAE Central Bank, H.E. Sultan Bin Nasser Al Suwaidi, stressed already in March 2013 […]

Shanghai FTZ Attracts World Attention

(MCI CLT Zhejiang, 2013-09-02) Shanghai phenomenally succeeded as China Mainland’s first Municipality with its 28.78 km² huge Shanghai FTZ (Free Trade Zone), last week finally enabled by the Standing Committee of the National People's Congress, China’s top legislative body. This is the result of Shanghai’s nearly 12 years ongoing piloting efforts against multiple resistance: Starting […]

FATCA: Malta And US Conclude FATCA Negotiations

(Monaco, 22/07/2013) Malta and the US have concluded negotiations concerning an Intergovernmental Agreement (IGA) in relation to US FATCA regulations (FATCA). FATCA was enacted in 2010 by the US Congress as part of the Hiring Incentives to Restore Employment (HIRE) Act. FATCA requires non-US financial institutions to report to the US Internal Revenue Service (IRS) […]

UAE & Germany: The new DTAA and taxation addition – be increased cautious with UAE subsidiaries

(Dubai, 22/07/2013) Even two years after the new double taxation avoidance agreement (DTAA) between Germany and the United Arab Emirates (UAE) – ratified on May 6, 2011 – came into force with effect from January 1, 2009, frustration and insecurity amongst businessmen and taxpayers are still high with view to the change from an exemption […]

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\r\n (Dubai, 20/10/2014) In August 2014 already, the “so much to UAE committed” foreign bank Standard Chartered announced to exit parts of its SME business in the federat...
\r\n (Dubai & Berlin, 30/09/2014) The increasing “European-ization” of all areas will now also make no longer halt before inheritance. At least, once international ba...
\r\n (Dubai, 04/09/2014) This week the World Economic Forum (WEF) published the results of its annual Global Competitiveness Report (GCR) 2014-2015 with impressive rankings for the U...
\r\n (Dubai, 30/08/2014) Since June/July this year, licensees of Dubai’s DMCC start to rub their eyes when it comes to their annual license renewal. Out of the blue, the Free Z...
\r\n (Dubai, 08/08/2014) MCI offers actually several Shelf Companies, aged between 2yrs, 10mths and 6yrs, 1mth - as per August 2014.\r\n\r\n\r\n\r\n \r\n \r\n \r\n DESCRIPTION\r\n \r\n \r\n ...
\r\n (Hong Kong, 2014-07-27) This month, the first revision of Shanghai Free Trade Zone’s (FTZ) Negative List took place.\r\n\r\n\r\n\r\n Shanghai Free Trade Zone (FTZ) was launched in...
\r\n (Dubai, 14/07/2014) The UAE Ministry of Labour (MOL) has announced that it will stop the usage of the old plastic labour cards & paper contracts starting from July 13, 2014....
\r\n (Hong Kong, 25-06-2014) We found a very interesting BBC documentary about China's debt policy and situation from February 2014, critical as well (of course). But watch yours...
\r\n (Dubai, 13/04/2014) With effect 01/05/2014, Emirates NBD massively increases the required Minimum Balances for its Business Banking Clients.\r\n\r\n\r\n\r\n Emirates NBD, one of UAE'...
\r\n (Dubai, 26/03/2014) Finally, Virtual Currency (VC) Tax Rules - including the most popular, Bitcoin - came to the US on March 25! Several insiders predicted that the government w...

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