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Key reforms and their significance Share Classes for LLCs & Private JSCsThe amended law now explicitly allows limited liability companies (LLCs) and private joint stock companies (JSCs) to issue different classes of shares with different rights — voting, dividend, liquidation preference, redemption, etc. This enables more sophisticated equity structuring and better reflects investor agreements.Drag-along and [...]
Background on the Corporate Transparency Act The Corporate Transparency Act (CTA) was originally enacted to combat illicit financial activities (such as money laundering and terrorism) by requiring companies to disclose their beneficial ownership information to FinCEN. Before this change, the CTA imposed BOI reporting requirements on both domestic and foreign reporting companies. Previously, reporting [...]
Breaking Down Barriers Between Free Zones and Mainland For decades, Dubai's business environment has been characterized by a clear separation between free zones and the mainland market. Free zone entities enjoyed benefits like 100% foreign ownership and tax incentives, but faced restrictions on operating within the local market. Meanwhile, mainland businesses could operate freely [...]
The FTA has released a table indicating the ultimate deadlines for registering as a corporate income taxpayer based on the license issuance date. Below is the table from the FTA's decision: So, if previously there was some uncertainty regarding the registration deadline, specifically that a company had to register as a corporate [...]
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