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To attract global investors interested in the space

Clients will ‘embrace having their assets protected’ in the country opposed to other ‘offshore centres’ On 10 February 2020, the UAE Ministry of Finance (MOF) unveiled its trusts law, announcing that it will help increase the “competitiveness” and “attractiveness” of the country’s financial services sector. Decree-Law No (19) of 2020 offers individuals the right to transfer assets, as a financial covenant, to a trustee to manage and grow. The law applies to onshore trusts and does not include the free zones, which may have their own regulation. It permits qualified advisers ...

It is ‘illogical to expect an economy committed to change to ignore our space’ Previously, foreign nationals looking to set up shop in the UAE needed to have local sponsors and were limited to holding a maximum 49% share in a “limited liability company”. Those wanting to acquire the remaining stake had to apply to their Emirate, which decided on a case-by-case basis. International Adviser spoke to Pinsent Masons, Mondial and AHR Private Wealth to discuss how the change will affect the financial advice market. Reaction Sean Kelleher, chief executive at Mondial Dubai, said that “wavin...

Of minds and machines Filed on December 21, 2020 The deployment of Artificial Intelligence is necessary for a more 'secure' future, experts urge at Gitex 2020 Dubai, the global capital where East meets the West, has been the epicentre of business and leisure events for decades. But this year was different. Since March, all that resonated in Dubai was the silence of empty halls that usually play host to the biggest who's who in the world. However, this month brought two hopes to the world - the Covid-19 vaccine and the first in-person event post-pandemic, the Gitex Technology Week. The...