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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 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.
In an interview with Hubbis, Tulpar Global Taxation CEO Ezat Alnajm warned cryptocurrency holders that UAE residency does not automatically extinguish foreign tax liabilities ahead of the Crypto-Asset Reporting Framework (CARF). Starting in January 2027, UAE crypto service providers will report transaction data to the Ministry of Finance, with automatic cross-border exchanges beginning in 2028. Alnajm urged investors to separate personal investment from business activities and maintain banking-grade records.
The Central Bank of the UAE held bilateral talks with the People's Bank of China during the 2026 IMF and World Bank Group Annual Meetings in Bangkok. The discussions focused on expanding cross-border payment systems, financial innovation, sustainable finance, and trade settlement connectivity. During the summit, the UAE also signed a formal agreement to host the 2029 Annual Meetings in Abu Dhabi.
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