Banking, fintech, funds, capital markets and cross-border investment
The UAE Ministry of Finance has published Version 2.0 of the UAE Electronic Invoicing Guidelines, integrating recent ministerial and cabinet decisions. The updated guidance withdraws mandatory local data storage requirements and establishes sector-specific compliance rules alongside distinct reporting fields for tax numbers.
FTI Consulting has appointed Sandeep Kumar as a Senior Managing Director in its Middle East Tax practice within the Corporate Finance segment. Based in Dubai, Kumar will advise multinationals, listed entities, and family-owned groups on UAE corporate tax, cross-border transactions, and compliance. The hire addresses growing corporate demand for regional tax advisory and technology-enabled compliance solutions.
The economic corridor between the UAE and Asia is evolving from capital flows into a multi-hub corporate and wealth ecosystem, according to an analysis in Arabian Business. Asian businesses are establishing UAE bases, with Chinese firms in Dubai reaching 6,650 alongside major Indian fintech expansions. Concurrently, UAE sovereign investor Mubadala is anchoring Asia strategy in China, while DIFC foundation registrations jumped 67 percent.
The United Arab Emirates has amended its Commercial Companies Law to remove foreign equity restrictions, allowing overseas investors to own 100 percent of onshore businesses. The reform scraps the historical 49 percent ownership ceiling across 13 economic sectors, including renewable energy, transport, and e-commerce. Economy Minister Abdulla bin Touq al-Marri stated the measure is intended to boost national competitiveness and facilitate commerce.
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