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10 Oct 2016

Shifting Sands - Changing Landscapes for Sophisticated Investors in the GCC

Al Tamimi's Private Client practice, in conjunction with Irwin Mitchell Private Wealth, held targeted seminars for sophisticated investors in Abu Dhabi and Dubai on 10 and 11 October respectively. The sessions examined some of the key areas and prominent issues family businesses face in the current economic climate.

Gary Watts (Head of Family Business) and Ruksana Ellahi (Senior Associate, Private Client), addressed strong and flexible legal structures in the GCC, which can survive the evolving business and legal landscape, not only in the UAE but throughout the Middle East. They also focused on the introduction of taxes across the GCC such as to Corporate Tax, VAT and Excise Tax. Nick Rucker, Alex Ruffel and John Riddick, Partners at Irwin Mitchell Private Wealth, addressed the changes to the UK treatment of individuals domiciled outside of the UK (non-doms) and UK inheritance taxation of UK residential property which will have effect from 6th April 2017; off shore trusts established by long term residents; Business Investment Relief (BIR) to encourage commercial investment and a general update on issues around matrimonial dispute jurisdiction shopping, immigration and passport issues following the Brexit vote.

For more information on these issues please contact Gary Watts.