"Dubai International Financial Center" The enactment of new regulations for changing capital companies
Dubai, June 25/ WAM/ The Dubai International Financial Center, the leading global financial center in the Middle East, Africa and South Asia, has proposed the enactment of new regulations for changing capital companies aimed at enhancing investment structure and asset management options significantly for its investments.
Jack Fisr, CEO of Legal Affairs at the Dubai International Financial Center Authority, said that the center’s authority announces the launch of new regulations for changing capital companies for public consultation, which provides a unique mechanism through a flexible structure of capital shares for private investment activities.
He explained that the proposed work framework for variable capital companies has been established to assimilate private investment activities, and it will not require a license from the Dubai Financial Services Authority or the condition of the presence of an organizer of the fund, unless the company is practicing organized financial services activities.
He stressed that this would contribute to enabling the changing capital to be an effective tool for investors who seek to benefit from the advantages of collective investment and separate investment strategies, while taking advantage of the flexibility and reducing procedural requirements to manage capital shares.
The proposed form of the variable capital company will be of special importance for family companies, multiple asset property with high value, and complex private investment portfolios, such as secondary structures, which want to benefit from the unified management, structuring and flexibility options provided by the variable capital.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related
