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Banks, financial institutions and intermediaries including stock market professionals such as brokers will be required to maintain records of all cash transactions, exceeding Rs 10 lakh from the 8th July 2005. This would be a necessity under the Prevention of Money Laundering Act, ‘02 (PMLA) which comes into force from this date. For more information on this Act,

If you are planning to set up a limited liability company (in particular an Offshore Company), have a quick run through our checklist to ensure you got everything covered. Many investors in the United Arab Emirates are using Offshore Companies (sometimes referred to as SPV – Special Purpose Vehicles) for buying property since they have real advantages when considering Sharia, Transfer and Taxation issues. For more info on considerations before buying an offshore company,

In the context of real estate ownership in Dubai, “Freehold” became the buzzword in May 2002 when H.H. General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister, announced that 100% freehold ownership of certain properties in Dubai was available to all nationalities. But what does “freehold ownership” mean?

We aim to explain the meaning and applications of the three property title concepts most widely used in developed land law jurisdictions, namely Freehold, Commonhold and Leasehold titles, and highlight the differences between them. We conclude with an examination of what “freehold ownership” means in the context of the property developments in Dubai that are currently being marketed to national and foreign investors. For the full article,

Come to Manic Monday Network Night and you will hear 5 great reasons to subscribe to Showtime and a great opportunity to win a One Year Subscription to Showtime’s Total Plus Premium Package that includes 50 Channels of Top Entertainment with a Free Dish, a Free Decoder & Free Installation too thrown in!

Marks & Spencer Al Futtaim Hampers, Vouchers, Air Arabia give aways and more on the night – just be there to win! Cannot remember when it is,

It is amazing the feedback we get through this website when readers email us with the concerns and questions they have regarding property. If we consider the UK property situation only, most UK domiciled readers will recognise that they are liable to 40% tax on their worldwide estate (savings, property, deposits etc) in the event of their demise irrespective of how long they have lived overseas.

That said, if an Emirati buys a house in London and meets a similar fate, would he/she have to pay the same level of tax on that property? If you do not know the answer or know what domicile means, then you had better