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Finance & Investment

Banking, fintech, funds, capital markets and cross-border investment

Policy & Legal Updates
Source: CryptoRank

Kraken Parent Payward Wins Full Dubai Crypto License from VARA

Dubai's Virtual Assets Regulatory Authority has granted Full Market Approval to Payward FZCO, the parent company entity of cryptocurrency exchange Kraken. The license authorizes Payward to provide broker-dealer, management, and investment services to retail, professional, and institutional clients. Kraken plans to launch UAE services in the coming weeks, featuring UAE dirham trading pairs and direct AED funding.

Industry News
Source: Invezz

Gold Holds Below $4,200 as China Buying Offsets $10 Billion Short Positions

Spot gold traded at $4,185.69 an ounce as trend-following funds accumulated an estimated $10 billion net short position. Concurrently, China's central bank extended its gold buying streak to 23 consecutive months, adding approximately 23 tonnes in September. Analysts note that structural accumulation by central banks is offsetting speculative selling ahead of key US inflation data.

Policy & Legal Updates
Source: Dentons

Dentons Outlines Contractual Safeguards for Managing Sanctions and AML Risks in UAE

Global law firm Dentons published legal analysis warning companies that standard compliance language stating an obligation to comply with applicable laws is often insufficient to address changing sanctions and financial crime risks. The firm highlighted risks faced by UAE entities when counterparties become subject to foreign sanctions regimes not mirrored in local law. Dentons recommended drafting explicit contractual rights permitting information audits, performance suspensions, and contract terminations.

Policy & Legal Updates
Source: Gulf News

Dubai Business Setup Requires Cross-Border Tax and Compliance Beyond Just Trade Licenses

International founders relocating to Dubai must address complex cross-border banking, tax residency, and ongoing compliance requirements beyond simply securing a trade license, Gulf News reported. While the UAE imposes no personal income tax and maintains a 9 percent corporate tax above Dh375,000, 0 percent corporate relief requires meeting strict qualifying criteria or Small Business Relief thresholds. In addition, dual structures involving US LLCs carry filing obligations and potential penalties of $25,000 if not managed properly.

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