The United Arab Emirates (UAE) has long been a preferred destination for businesses and investors from around the world. Its strategic location and investor-friendly policies have made it a global hub for commerce, finance, and innovation. However, in a significant move that marked a departure from the country’s long-standing tax free stance, the UAE Ministry…
Shakir Mabrur has joined Hourani & Partners as a Senior Associate in the Corporate team. Shakir is a UK qualified attorney with substantial experience representing a diverse client base on significant domestic and cross-border M&A and private equity transactions, joint ventures, and other corporate transactional and advisory matters. In addition, Shakir has developed strong…
Hourani & Partners’ Tax and International Trade team, in collaboration with LexisNexis Middle East, hosted a dynamic breakfast seminar at the firm’s Dubai office. The event brought together industry experts and thought leaders to delve into the complex landscape of corporate, trade, and tax laws in the GCC region. The session was moderated by…
The recently introduced Indian ODI (Outward Direct Investment) regulations – which permit direct investments in international entities, subject to certain conditions – have acted as a catalyst for many wealthy Indian families to explore international investment opportunities, says Sunita Singh-Dalal, partner, private wealth & family offices at Hourani & Partners in the UAE. Up…
A landmark in the Saudi Arabia’s legislative history, the new Law will have a significant impact on contractual relationships and obligations in the Kingdom. Hourani & Partners offers commentary on the main principles of the Law. The (the “Law”) was enacted in the Kingdom of Saudi Arabia on June 18, 2023. The Law is…
Hourani & Partners advised Delivery Hero on the acquisition of the outstanding minority shareholdings representing 37% in HungerStation Holding Limited, the sole shareholder of HungerStation Company Limited in the Kingdom of Saudi Arabia. Delivery Hero is one of the world’s leading online food ordering and food delivery companies with presence in over 70 countries…
Wills as succession planning tools Ensuring sustainability and effective succession planning at the Family level can be achieved for many UAE residents with the relatively straightforward act of having a valid will in place. It is key to note that in the UAE, for a will to take legal effect, it must be registered with…
The following points are critical to the professional advisory community. The FA Regulations consolidate applications for Single-Family Offices (SFO) and multi-family offices within a single category known as the ‘Family Office’. The primary qualifying requirement is for shareholders of the Family Office to demonstrate a net global aggregate asset base of at least $50m (previously,…
In the past decade the UAE has witnessed a consistent increase in the number of HNWIs and UHNWIs relocating to the UAE, due to a variety of reasons ranging from incentivized long-term residency schemes, nominal taxation, access to superior healthcare, infrastructure and education to a vibrant economy that remained open to business despite the global…
The UAE and KSA have each witnessed new developments with the enactment of legislation designed to support family businesses and provide them with robust ownership options and mechanisms to sustain effective governance and management. The stability of all family businesses is critical to ensuring the ongoing economic stability of these key strategic Middle Eastern…
Hourani & Partners is proud to announce the launch of The Hourani Roundtable Series 2023, an exclusive roundtable designed to drive meaningful discussions and foster progress in the Middle East between the private wealth community and business families. The inaugural event took place in Riyadh, focusing on Succession & Family Governance in the Kingdom,…
The UAE has finally enacted the UAE corporate tax law of 2022, which is expected to come into force in June 2023 (Corporate Tax Law). It will introduce the UAE’s first ever corporate tax regime at the introductory rate of 9%. The Corporate Tax Law currently regards foundations and similar wealth consolidation structures as…