#International Financial Services Centres Authority

[mariacallous]

The National Bank of Moldova, BNM, told BIRN on Friday that it is working with the Prevention and Combating Money Laundering Service and other national uthorities to stop illegal financial flows from Russia and the unauthorized use of Russian card payment systems in Moldova.

The BNM added that use of Russian MIR card payment system is illegal in Moldova. It told BIRN that “financial intermediation platforms that are developing extremely quickly at the international level can, however, facilitate cross-border transfers, including some made by certain internationally sanctioned persons or entities from the Russian Federation to… Moldova”.

The bank reacted after the Municipal Council in Orhei, a district in the centre of the country, said it intended to approve several agreements with Promsvyazbank bank, a bank affiliated with the Russian Ministry of Defence and under international sanctions.

A Shor satellite party, the Alternative and Salvation Force of Moldova, FASM, which holds a majority on the council, said it wants to attract funds from Russia to grant “financial aid” to pensioners using MIR cards, which work only in Russia and are not approved by the National Bank of Moldova.

Through these agreements, Shor’s party claims it can give pensioners in the municipality 2,000 lei per month [about 100 euros] for “philanthropic and sponsorship” purposes.

The Eurasia organisation will allocate the money through Promsvyazbank. Eurasia is an organisation created in Russia by Shor’s aides whose purpose, the Moldovan authorities say, is to derail the country’s European course.

The National Bank has warned that such transactions fall under legislation regarding the prevention and combating of money laundering and those regarding the application of international restrictive measures.

“As such, the licensed banks have been warned about the need to maintain a vigilant regime of activity and to apply all due diligence measures to prevent the risks of banks’ involvement in illegal financing schemes, including money laundering and financing schemes of terrorism,” the BNM added.

The BNM’s governor, Anca Dragu, has further specified that citizens who use MIR cards can be held criminally liable.

“Using illegal means of payment, illegal money, has criminal consequences. People should know about this. These facts are being investigated by specialized services for combating money laundering and terrorism,” Dragu said in an interview with Realitatea TV.

Shor used such a scheme of payments to pensioners last year to sway the election of the new governor of the southern pro-Russian region of Gagauzia, and also in the local elections in November 2023.

The authorities have since filed charges of electoral bribery and election fraud by political parties affiliated with Shor. The trial is ongoing.

Shor is currently based in Moscow after receiving a 15-year sentence in April 2023 over the “Grand Theft” of one billion US dollars from three private banks in Moldova between 2012 and 2014. From Moscow, he coordinates several political parties that advocate closer links to Russia, and for Moldova to abandon its European path.

[bestbusinesssetupdubai1]

Business setup in Dubai

Business setup in Dubai refers to the process of establishing a business entity within the city of Dubai, which is one of the seven emirates of the United Arab Emirates (UAE). Dubai is a thriving business hub known for its strategic location, robust infrastructure, and business-friendly environment. Here is a detailed explanation of business setup in Dubai:

Mainland Business Setup: Mainland business setup allows businesses to operate within the local market of Dubai and the UAE. It requires partnering with a local Emirati sponsor or a local service agent, depending on the nature of the business activity. The sponsor holds a minority share (typically 51%) in the company, while the majority share can be owned by foreign investors.

Free Zone Business Setup: Free zones in Dubai are designated areas that offer attractive incentives and benefits to businesses. These include 100% foreign ownership, tax exemptions, full repatriation of profits, and simplified procedures. Each free zone in Dubai caters to specific industries or sectors, such as Dubai Multi Commodities Centre (DMCC) for commodities trading, Dubai Internet City (DIC) for technology companies, and Dubai Media City (DMC) for media and advertising companies.

Offshore Business Setup: Dubai also offers offshore company formation through jurisdictions such as JAFZA Offshore and RAK Offshore. Offshore companies are not allowed to operate within the UAE market but are ideal for international business activities, asset holding, or as a vehicle for investment and wealth management. They provide privacy, tax advantages, and ease of administration.

Legal Structures: Dubai offers various legal structures for business setup, including Limited Liability Company (LLC), Sole Proprietorship, Partnership, Branch of a Foreign Company, and more. The choice of legal structure depends on factors such as ownership requirements, liability considerations, and business objectives.

Licensing and Permits: Business setup in Dubai requires obtaining the necessary licenses and permits from the relevant authorities. This includes trade licenses, professional licenses, industrial licenses, and specialized permits based on the nature of the business activity. The requirements vary depending on the type of business and the jurisdiction in which it is established.

Office Space and Infrastructure: Businesses in Dubai need to secure suitable office space or facilities to operate. This can be done through leasing commercial spaces, utilizing shared office spaces, or renting virtual offices. Dubai offers state-of-the-art infrastructure, modern office buildings, and world-class amenities to support business operations.

Visa and Immigration Services: Business setup in Dubai includes visa and immigration services for company owners, employees, and their dependents. This involves obtaining residence permits, work permits, investor visas, and other necessary documents from the Dubai Department of Economic Development (DED) and the General Directorate of Residency and Foreigners Affairs (GDRFA).

Compliance and Regulations: Businesses in Dubai must comply with local regulations, including financial reporting, tax obligations, labor laws, and industry-specific regulations. Compliance requirements vary based on the legal structure and the nature of the business activity. It is important to stay updated with the regulations and engage professional advisors to ensure ongoing compliance.

Dubai offers numerous advantages for businesses, including a strategic location that serves as a gateway to the Middle East, Africa, and Asia, a robust infrastructure, a diverse and multicultural workforce, political stability, and a supportive business ecosystem. However, navigating the business setup process in Dubai can be complex, and it is advisable to seek the assistance of experienced business setup consultants who can guide you through the legal requirements, procedures, and best practices to ensure a successful and compliant business establishment.

[365proservices]

Sailing Smoothly: The Benefits of Free Zone Business Setup in Dubai

Embarking on a business venture in Dubai? Brace yourself for the thriving world of Free Zone Business Setup, a haven for foreign investors and entrepreneurs alike. While the prospect is enticing, navigating through the myriad of Dubai Free Zones can be a daunting task. Fear not, for expert guidance from our seasoned business consultants is just a click away, ready to craft a winning strategy tailored to your success.

Dubai boasts not one, but two enticing Free Zone Flavors: Free Zone Establishment (FZE) and Free Zone Company (FZ Co.) or Free Zone Limited Liability Company (FZ LLC). The key differentiator? The number of shareholders and their legal status. As each Dubai Free Zone dances to its unique set of rules, aligning your Dubai Free Zone company Pro services with the chosen Free Zone’s legal tapestry is paramount.

A symphony of over 30 Free Zones beckons entrepreneurs, each with its unique allure. From the international charm of IFZA (International Free Zone Authority) Dubai to the bustling trade hub of DMCC (Dubai Multi Commodities Centre) and the financial oasis that is DIFC (Dubai International Financial Centre), Dubai's canvas is vast. Explore the possibilities in JAFZA (Jebel Ali Free Zone), the innovation playground of Meydan, or the strategic hub of Dubai South (DWC) – options abound for your business aspirations.

Why should your business call a Dubai Free Zone home? Let's dive into the treasure trove:

Foreign Ownership Odyssey: Regardless of your nationality, Dubai Free Zones open the door to complete foreign ownership, paving the way for limitless possibilities.

Taxation Euphoria: Bid farewell to customs duties, VAT, import and export taxes, and corporate taxes. Dubai's Free Trade Zones create a tax haven, letting your business thrive financially.

Connectivity Extravaganza: Impeccable connectivity via ports, airports, and highways ensures that your business is seamlessly integrated into Dubai's dynamic landscape.

Infrastructure Marvels: Dubai Free Zones provide a playground of impeccable infrastructure and amenities, setting the stage for smooth business operations.

Express Lane Approvals: Say goodbye to bureaucratic delays. Dubai Free Zone company procedures are streamlined, ensuring swift approval of applications and documentation.

Repatriation Bliss: Full repatriation of capital, profits, and financial assets – Dubai Free Zones empower your business financially.

Labor and Immigration Ease: From recruitment to immigration formalities, Dubai Free Zones simplify processes, ensuring cost-effectiveness and efficiency.

As the entrepreneurial curtain rises, Dubai Free Zones Stand as the stage for your business symphony. Let the spotlight shine on your success story!

[abtechsorg]

MetaTdex Obtains Groundbreaking License from DMCC: A Step Forward for the Mainstream Adoption and Legitimacy of Cryptocurrency

MetaTdex, a decentralized exchange based in Dubai, has made history by becoming the first decentralized exchange to obtain a license from the Dubai Multi Commodities Centre (DMCC). This achievement marks a significant milestone for the company, as it now has legal and regulatory backing to provide all encrypted digital asset exchange services in Dubai, including Bitcoin (BTC), Ether (ETH), USDT token and more.

The license (No. DMCC-870791) means that MetaTdex has obtained the authority to provide these services in a compliant and secure manner, ensuring that users can participate in Web 3.0 finance with confidence. This is a major step forward for the industry, as it promotes the mainstream adoption of cryptocurrency and blockchain technology.

MetaTdex established an operation center in Dubai in August 2022, and in just four months since moving into their new office, the company has already secured both a US MSB (Money Services Business) and Dubai DMCC license. This rapid progress is a testament to the hard work and dedication of the MetaTdex team, as well as the favorable regulatory environment in Dubai for cryptocurrency and blockchain technology.

Furthermore, MetaTdex is not content to rest on their laurels, and they are actively working on obtaining more licenses such as Dubai MTL (Metals and Minerals trading License), VARA (Virtual Asset Service Provider), DIFC (Dubai International Financial Centre), ADGM (Abu Dhabi Global Market). This indicates their goal to open up the connection between cryptocurrency and traditional stock markets, allowing users to gain more benefits in a compliant and secure Web 3.0 finance environment.

The development of the blockchain and cryptocurrency ecosystem in Dubai is something that is worth paying attention to. The DMCC license granted to MetaTdex is an indication that the government is committed to creating an environment that is favorable for blockchain technology and cryptocurrency. With a rapidly advancing regulatory environment, we can expect to see more companies following in MetaTdex’s footsteps and obtaining licenses to operate in Dubai.

In conclusion, the success of MetaTdex in obtaining a license from the DMCC is a significant achievement not only for the company but also for the entire blockchain and cryptocurrency industry. It is a clear signal that Dubai is open to innovative technologies and is working to create a favorable environment for their development. This is an encouraging development and it will be interesting to see how the ecosystem in Dubai continues to evolve in the coming years.

Join our Community to get the latest update on MetaTdex: Main Group: https://t.me/MetaTdex_group MetaTdex Twitter https://mobile.twitter.com/MetaTdex

Start your web3.0 journey with MetaTdex. www.metatdex.com

[victorysp]

Queen Máxima to visit Morocco to discuss digital financial services

From Monday 20 to Thursday 23 March, Her Majesty Queen Máxima of the Netherlands will visit the Kingdom of Morocco in her capacity as the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development. The visit will centre on fintech, inclusive green finance and the development of digital payment systems to improve financial inclusion.

Morocco rolled out a national strategy for financial inclusion (NSFI) in 2019. Today, 44% of its adult citizens have bank accounts, up from 29% in 2017 (World Bank Global Findex Database). The goal is to reach 50% by the end of 2023 and 75% by 2030. A gender gap exists, with 23% more men than women holding accounts. Only 6% of people have a mobile wallet, in part due to limited financial and digital literacy. There are still 15 million Moroccans without a bank account, mostly women, smallholder farmers and small-business owners, and people on low incomes.

Queen Máxima will visit communities to hear first-hand about the impact of financial services on people’s lives and financial health. The projects in question are aimed at helping business owners to insure their businesses, and safeguarding the small local supermarkets that play a social role in communities. Most of the projects that Queen Máxima will visit provide their financial services via user-friendly apps that are designed to meet their customers’ specific needs.

In Rabat and Casablanca, Queen Máxima will meet with representatives from government, international development agencies, financial institutions and non-profit organisations. Topics will include both achievements so far and the work that remains to bring safe, affordable digital financial services within the reach of even more people. Fintech – digital innovation in financial services – is a way to provide business owners with affordable loans and insurance so they can grow and protect their businesses. For example, inclusive green finance helps farmers invest in better agricultural techniques that make them more resilient in the face of climate change. Digital payment systems make transactions safer and more efficient. People in Morocco often receive money from family members working abroad. For those living in remote areas, this can mean traveling long distances to make a withdrawal. Having a digital bank account would make this easier.

The visit will also include bilateral talks with Moroccan Prime Minister Aziz Akhannouch, the governor of Bank Al-Maghrib, Abdellatif Jouahri, the Secretary-General of the Government, Mohamed Hajoui, the Minister of Economy and Finance, Nadia Fettah Alaoui, the Minister of Industry and Trade, Ryad Mezzour, the Minister Delegate in charge of Digital Transition and Reform of the Administration, Ghita Mezzour, and the president of the Moroccan Capital Market Authority, Nezha Hayat.

This is Queen Máxima’s first visit to Morocco in her UN role. Her delegation will include representatives of the UN Secretary-General’s Special Advocate (UNSGSA) Reference Group, with which she has worked since 2009, and of the Alliance for Financial Inclusion, the Consultative Group to Assist the Poor, and the World Bank.

[jordanianroyals]

2 January 2023: King Abdullah II, at a meeting with representatives and leading figures from Aqaba, directed the government to freeze the kerosene tax during winter to ease the burden on citizens, especially families with limited income.

King Abdullah reiterated that a serious national effort is underway to find economic solutions through the Economic Modernisation Vision, which aims to alleviate financial pressure on citizens.

His Majesty stressed the importance of working relentlessly on executing the political, economic, and administrative modernisation plans in 2023, noting that this year will be dedicated to implementation. (Source: Petra)

On the importance of promoting Jordan as a tourism and investment destination, the King noted that there is local, regional, and international interest in investing in the south and in Aqaba specifically, emphasising that working transparently and cooperating with the private sector is paramount while prioritising public interest.

His Majesty spoke about significant projects slated for launch in Aqaba, including a water desalination plant megaproject, and the development of the airport and port, calling for enhancing the agriculture sector to capitalise on the governorate’s climate and investing in solar energy.

The King noted the importance of youth capacity building and empowerment in Aqaba by developing schools, establishing a medical university, and expanding the academic offerings of the University of Jordan in Aqaba.

His Majesty also noted Google’s selection of Aqaba as a point of intercontinental convergence for their submarine cable project, which connects Asia, Europe, and Africa, noting the opportunities that would be available to the ICT sector a result.

Responding to comments from the audience, the King underscored the importance of founding an advisory council of specialists from Aqaba to support the Aqaba Special Economic Zone Authority’s (ASEZA) board of commissioners, in service of the governorate’s development.

His Majesty stressed that revenue generated by the Aqaba Special Economic Zone must ultimately benefit Aqaba and developing its services, noting the importance of promoting decentralisation.

Also during the meeting, the King recalled recent events in Maan Governorate, where several Public Security Directorate personnel were killed in the line of duty, paying tribute to the martyrs and wishing the injured a speedy recovery.

For their part, the attendees reaffirmed their support for His Majesty’s modernisation efforts, commending the King’s and the Hashemites’ principled stance towards the Palestinian cause and Jerusalem.

The speakers also highlighted a number of issues in Aqaba Governorate and called for addressing them, including creating more job opportunities, supporting income-generating enterprises, attracting more investments, and improving healthcare, education and infrastructure.

Speaking at the meeting, Prime Minister Bisher Khasawneh said the government will immediately freeze the tax on kerosene during winter, upon His Majesty’s directives, adding that the government will not increase kerosene prices during this season even if global prices go up, and will decrease prices if global prices go down.

The prime minister said the government is studying an expansion of the University of Jordan’s Aqaba branch, adding that the Aqaba field hospital will become a public hospital and a number of projects in the governorate will conclude this year.

Also speaking at the meeting, Royal Hashemite Court Chief Yousef Issawi said Royal initiatives implemented in Aqaba have exceeded JD20 million, including JD10 million in the city.

He added that Royal initiatives across the country will focus on productive projects that provide jobs for youth, noting that a centre for the deaf community will be established in Aqaba upon Royal directives.

[hamdanalhammadi]

Steps to follow in DIFC Business Setup Registration

The Dubai International Financial Centre (DIFC) offers a thriving business climate and has become a major worldwide financial centre. The DIFC draws investors and entrepreneurs worldwide with its world-class infrastructure, strategic location, and strong regulatory framework. This guide will walk you through the steps involved in DIFC business setup, providing insights into the key considerations and advantages.

Understanding the DIFC

The DIFC is a special economic zone in Dubai that provides companies with many advantages, such as:

100% Foreign Ownership: In the DIFC, foreign investors can own 100% of their companies.

Tax Benefits: With no company or personal income tax, the DIFC provides a tax-friendly environment.

Sturdy Legal Framework: The common law system that governs the DIFC offers a stable and predictable legal environment.

World-Class Infrastructure: The DIFC is home to cutting-edge telecommunications, high-speed internet, and contemporary office buildings.

Strategic Location: Dubai is ideally situated for companies to reach international markets due to its intersection of Europe, Asia, and Africa.

Steps to Set Up a Business in the DIFC

Here is a basic guideline for a DIFC company formation. Make sure to update yourself with the latest information regarding the following steps as you start your business setup process:

Select a Business Purpose:

Decide which particular business operations you plan to carry out in the DIFC.

Verify that the activities you have selected are allowed under the DIFC's legal framework.

Choose a Legal Framework

Choose the best legal form for your firm, such as a partnership, branch office, or limited liability corporation (LLC).

When selecting your choice, take into account elements like responsibility, ownership structure, and tax ramifications.

Get the necessary paperwork ready

Assemble the required paperwork, such as the articles of association, memorandum of association, business strategy, and the directors' and shareholders' personal identity documents.

Verify that every document is appropriately notarized, apostilled, and complies with DIFC standards.

Apply

Send the filled-out application to the DIFC Authority together with the necessary paperwork.

Obtain initial permission for your business setup and pay the necessary costs.

Acquire a License

A business licence will be issued by the DIFC Authority upon approval of your application.

The licence will outline the business operations that are allowed as well as the duration of its validity.

Rent Office Space

Establish your activities by renting office space in the DIFC.

The DIFC provides a range of office space choices, such as typical office leases, flexible workplaces, and serviced offices.

Sign up for VAT, if necessary

To adhere to VAT requirements, register with the Federal Tax Authority (FTA) if your company is liable to VAT.

Key Considerations

Regulatory Compliance: To guarantee efficient operations and to stay out of trouble, follow the DIFC's regulatory framework.

Professional Services: To help with the process and guarantee compliance, think about working with company formation consultants in dubai.

Work Permit and Visa Criteria: Recognise the criteria for work permits and visas for international workers in the DIFC.

Financial Services: You will require extra permissions from the Dubai Financial Services Authority (DFSA) if you intend to run a financial services firm.

Conclusion

In the DIFC, starting a business can be a fulfilling experience. You can begin a profitable business in this vibrant financial centre by following these procedures and taking into account the important variables. To manage the complicated nature of the DIFC's regulatory landscape and guarantee a seamless and effective setup procedure, it is essential that you get expert advice.

[empoweredexplorations]

ARMIN ORDODARY, FSM SMART AND LAU GLOBAL SERVICES

In the era of CFDs and binary options, massive international forex scams arose. With the peak occurring in or around 2015, many of them began operating between 2010 and 2012. Legislators and regulators needed some time to recognize emerging trends and devise effective countermeasures. The beginning of 2014 saw regulators issue warnings about binary options, signaling the end of the FX gold rush. It took three more years for regulators to formally outlaw binary options. A few international forex scammers duped hundreds of thousands of retail investors between 2012 and 2017. One of the criminal groups that created a wave of illicit binary options, forex, and cryptocurrency trading methods is Lau Global Services Corp. Media has requested additional information to establish an EFRI funds recovery campaign.

The FSM Smart Broker Scheme

The fraudulent broker scheme FSM Smart (www.fsmsmart.com) has been aggressively gaining clients through their Serbian boiler room Upmarket d.o.o., according to information provided to the media by whistleblowers. Benrich Holdings Ltd., a company based in Cyprus, is the only shareholder in this boiler room. Armin Ordodary, a resident of Cyprus, is a director of both companies. Upmarkt is only one of the Lau Global Services Corp scheme’s several boiler rooms. FinTelegrem has information that indicates FSM Smart and Armin Ordodary are involved in the “Lau Scheme.”

The “Lau Scheme” has only a few minor branches, including the Serbian Upmarkt d.o.o. Kiev, Ukraine, has served as something of an epicentre for additional boiler rooms that have already been discovered in other jurisdictions. For instance, call centre addresses in Kiev were discovered by the Russian website Forex Scam (www.forex-scam.net). Apart from E&G Bulgaria, Lau Global Services Corp is unquestionably one of the biggest illicit broker enterprises on the planet. Even with so many offshore connections, this operation appears to be run out of Ukraine and the Balkans.

However, let’s begin with FSM Smart and work our way up to the larger picture. Early in 2018, the illicit broker FSM Smart made its debut. Investor cautionary note regarding the current FSM Smart (www.fsmsmart.com) scheme:

August 2018: In the summer of 2018, the Financial Markets Authority (FMA) of New Zealand issued a warning on FSM Smart.

In November 2018, the Canadian watchdog in Manitoba (MSC) issued an investor warning against FSM Smart, while the financial market regulatory organisation in Switzerland, 

FINMA issued a warning against the company. FSM Smart’s contact address is reportedly Hertensteinstrasse 51, 6004 Luzern in Switzerland.

The Global Services Network of Lau

It is clear that there are connections between the operators of the FSM Smart scams and other con artists, such as MTI Markets (www.mtimarkets.com). According to reports, Lau Global Services Corp., the company behind this unlawful broker, also ran the following other illicit broker schemes:

TradingMX (www.tradingmx.com)

(www.lgs-corp.com) LGS Corp.

(www.tradingbanks.com) TradingBanks

Trade12: https://www.trade12.com

mtimarkets.com, the website of MTI Markets

(www.grizzly-ltd.com) Grizzly

The following companies have been linked to the Lau Global Services Group by the Media team:

Belize’s Lau Global Services Corp.

Serbian Upmarkt d.o.o.

Global Fin Services Ltd (UK), Exo Capital Markets Ltd (Marshall Islands), and MTI Investments LLC or MTI Markets Ltd (Marshall Islands)

Malta-based Grizzly Ltd.

Cyprus-based R Capital Solutions Ltd.

Cyprus-based Benrich Holdings Ltd.

SIO Ltd (Cyprus)

Eyar Financial Corp Limited (Vanatu)

Most of the businesses don’t have a website or aren’t active on social media. Armin Ordodary, a resident of Cyprus, appears to be involved in the “Lau Scheme.” The last several months have seen the disappearance of all the websites and social media accounts he is directly related to going offline. Only to bring up his SIAO Ltd. The reason behind this is the question.

Regulators from many jurisdictions issued numerous warnings to the brands and businesses connected to Lau Global Services Corp.

August 2015: MXTrade and Lau Global Services were the targets of an investor alert by the Italian CONSOB;

September 2015: MXTrade and Lau Global Services were the targets of an investor alert from Cyprus agency CySec;

April 2016: The Belgian Financial Services Authority (FSMA) cautioned investors.

Nov. 2016 saw the Australian regulator ASIC issue a warning to investors about MXTrade; Nov. 2016 saw the New Zealand regulator FMA issue a warning to investors about EXO Capital Markets Ltd. trading as Trade12; 

Nov. 2017 saw the Guernsey regulator issue a warning to investors about Exo Capital Markets Ltd. trading as Trade12;

numerous other warnings regarding the various trading styles (domains/brands)

The Facebook page of Lau Global Service Corp is still accessible, even though the majority of the network’s illicit broker websites have since gone offline. It is purported that R Capital Solutions Limited, a financial services firm registered in Cyprus (HE329922) with licence number 246/14, approved and regulated by the Cyprus Securities Exchange Commission, was the previous owner and operator of the MXTrade brand. 2015 saw the alleged transfer of the MXTrade name and customer base to Lau Global Services. R Capital Solutions, however, disputes that it ever had any relationship with MXTrade in a corresponding statement:

R Capital Solution’s declaration about MXTrade

But from what I’ve read in a few forums, it appears that R Capital Solutions was working with MXTrader up to the middle of 2015. Emails obtained by Media appear to indicate that R Capital Solutions did, in fact, run MXTrader up to the middle of 2015.

Lau Global Services is also a shareholder in Grizzly Ltd., a Malta-based company that formerly operated payment services for such illicit and dishonest broker schemes, according to Offshore Leaks Database. This can be seen, for instance, on an old MTI Markets website. Shlomo Matan Shalom Avshalom, an Israeli, is listed as a director of Grizzly Ltd. Grizzly Ltd was involved in the “Lau” Scheme and possessed several illicit trading brands, according to various sources and forums.

The legal companies involved in illicit broker schemes typically make regular changes to deceive Google, law enforcement, and clients. In particular, the front shell firms that are usually run by “monkeys” are changing a lot.

Individuals Found in the Network

The individuals listed in the FSMSmart network include Mathew Bradley, Ali Mahmoudi, and Armin Ordodary, a resident of Cyprus who is purportedly a former Windsor Brokers employee. Born in January of 1991, Armin Ordodary has registered multiple forex trading domains during the years of 2013 and 2014. In addition, he serves as the director of Bythos Yachts Management OÜ in Estonia.

The well-established ties that Armin Ordodary

We are unable to determine at this time if Armin Ordodary was a lieutenant in Cyprus or one of the scheme’s masterminds. In actuality, we have managed to determine his affiliation with businesses, endeavours, and undertakings within the illicit brokering landscape. He has ties to both the Nepcore project and SIAO Ltd, a provider of FOREX services. Additionally, we are aware that he oversees the Upmarkt boiler room in Serbia, which provided services to FSM Smart. He offered marketing services for the “Lau Scheme’s illicit trading styles through Nepcore.

[velthradconsultants]

Why Choose Velthrad Consultants for DIFC Regulatory Setup

When you are looking to set up your business in the Dubai International Financial Centre (DIFC), it is important to ensure that your company is in full compliance with the rules and regulations of the DIFC. It is where Velthrad Consultants comes in. They offer expert services to help businesses smoothly navigate the DIFC regulatory setup.

The DIFC is a unique financial free zone in Dubai, known for its advanced infrastructure and international standards. It offers various benefits for companies that operate under its jurisdiction, but setting up a company there requires a clear understanding of the regulations involved. Velthrad Consultants deeply understands these regulations and can help you set up your business in DIFC correctly.

1. Expertise in DIFC Regulations

One of the key reasons to choose Velthrad Consultants is their expertise in DIFC regulatory setup. The consultants at Velthrad have a thorough knowledge of the legal and regulatory framework of the DIFC. They can guide you through all the necessary steps, ensuring your company complies with DIFC’s rules. Whether you are setting up a new business or looking to relocate your existing business to DIFC, Velthrad Consultants will handle the entire process efficiently.

They are familiar with the regulations businesses must follow in the DIFC, such as licensing requirements, corporate governance standards, and reporting obligations. It helps ensure your business can focus on growth while Velthrad Consultants handles compliance.

2. Customized Solutions

Velthrad Consultants understands that every business is unique. That is why they provide customized solutions tailored to meet your specific needs. They take the time to understand your business model, objectives, and challenges before recommending the best approach for your DIFC regulatory setup. This personalized service ensures that your company will be set up efficiently and cost-effectively.

They help with everything from registering your business and obtaining the necessary licenses to understanding the tax benefits available to companies in DIFC. Their goal is to make the entire process easy and transparent for you. 3. Speed and Efficiency

Setting up a company in DIFC can sometimes take time due to the many steps involved. Velthrad Consultants, however, has a reputation for working quickly and efficiently. They know how important it is for businesses to start operating as soon as possible. With their in-depth knowledge of the process and strong relationships with regulatory authorities, they can ensure that your DIFC regulatory setup is completed in the shortest time possible.

Velthrad Consultants handles your paperwork and formalities, so you don’t have to worry about delays. Their team of experts takes care of everything, allowing you to focus on running your business without unnecessary interruptions. 4. Strong Network

Another advantage of choosing Velthrad Consultants is their strong network within the DIFC. Over the years, they have built strong relationships with key players in the DIFC, such as regulatory bodies, legal firms, and financial institutions. This network allows them to provide valuable insights and support throughout the setup process.

Their connections also make it easier for your business to quickly get the necessary approvals and licenses. Whether you need legal advice, banking support, or assistance with finding office space, Velthrad Consultants can connect you to trusted service providers. 5. Ongoing Support

The regulatory setup is just the beginning. Once your business is established in the DIFC, you will need ongoing support to ensure that you continue to comply with regulations and grow your company. Velthrad Consultants provides ongoing support and advisory services even after your company is set up.

They offer accounting, auditing, and tax advisory services to help your business stay on track. They also keep you informed about any regulation changes, ensuring that your company always remains compliant.

Conclusion -

Setting up a business in the DIFC can be a rewarding step for your company, but it requires careful attention to the legal and regulatory requirements. Velthrad Consultants simplify this process by offering expert guidance and personalized solutions for your DIFC regulatory setup. Their expertise, efficiency, strong network, and ongoing support ensure your business can operate smoothly and grow successfully in this prestigious financial hub. Choose Velthrad Consultants for a hassle-free and professional DIFC setup experience.

[flyingcolour-business-setup]

Freezone Business Setup: A Comprehensive Guide by Flyingcolour

Dubai has become a global hub for business and innovation, attracting entrepreneurs and investors from around the world. Among the most popular avenues for establishing a business in the UAE is the freezone business setup. With its numerous benefits, including tax exemptions and 100% foreign ownership, free zones in Dubai offer a compelling option for business growth. If you’re considering establishing your company in a Dubai free zone, this detailed guide will walk you through the essentials, benefits, and process of freezone business setup, brought to you by Flyingcolour Business Setup, your trusted partner in business formation services.

What is a Freezone Business Setup?

Free zones in Dubai are designated areas where businesses can operate under specific regulations that are more flexible compared to mainland business setups. They are designed to promote international trade, investment, and entrepreneurship. Companies operating in free zones enjoy unique advantages, such as tax exemptions and streamlined licensing processes.

Flyingcolour helps businesses navigate the complexities of free zone regulations, ensuring a hassle-free setup tailored to your needs.

Benefits of Freezone Business Setup in Dubai

100% Foreign OwnershipUnlike mainland businesses that require a local partner, free zone companies allow complete foreign ownership. This gives international investors full control over their operations.

Tax AdvantagesFree zone businesses enjoy exemptions from corporate and personal income taxes, along with no customs duties on imports and exports within the zone.

Ease of Business SetupThe free zone setup process is faster and simpler compared to other jurisdictions. With Flyingcolour, you can navigate this process seamlessly and focus on growing your business.

Strategic LocationsDubai’s free zones are strategically located near airports, ports, and business hubs, providing logistical advantages for global trade.

Repatriation of ProfitsFree zone companies can repatriate 100% of their profits and capital without restrictions, ensuring maximum financial flexibility.

Sector-Specific Opportunities Many free zones cater to specific industries, such as technology, logistics, media, and healthcare, offering tailored infrastructure and support for your business.

Key Freezones in Dubai

Dubai is home to several free zones, each tailored to different industries and business types. Here are some of the most prominent ones:

Dubai Multi Commodities Centre (DMCC)Known for its focus on trade, DMCC is ideal for businesses involved in commodities, trading, and logistics. It has won multiple awards as the world’s leading free zone.

Dubai Silicon Oasis (DSO)Aimed at tech companies and startups, DSO offers cutting-edge infrastructure and a vibrant ecosystem for innovation and technology development.

Dubai International Financial Centre (DIFC)DIFC is the go-to free zone for financial institutions, offering a robust legal and regulatory framework for banking, insurance, and wealth management companies.

Dubai Internet City (DIC)Focused on the IT and digital sectors, DIC is perfect for companies in software development, e-commerce, and tech innovation.

Jebel Ali Free Zone Authority (JAFZA)JAFZA is one of the largest and oldest free zones in Dubai, catering to logistics, manufacturing, and trading companies due to its proximity to Jebel Ali Port.

Types of Licenses Offered in Freezones

When setting up a free zone business, you must choose a license that aligns with your business activities. Here are the common types of licenses available:

Trading LicenseSuitable for businesses involved in import, export, and distribution of goods.

Service LicenseIdeal for companies providing professional services, consulting, or other non-physical product-based operations.

Industrial LicenseDesigned for manufacturing and production-oriented businesses.

Freelance PermitEnables individuals to operate as freelancers in areas like media, technology, and design.

E-Commerce LicensePerfect for businesses operating in the online retail or digital marketplace space.

Flyingcolour ensures you choose the right license based on your business activities and guides you through the application process.

Step-by-Step Process for Freezone Business Setup

Here is a breakdown of the process to establish a free zone business in Dubai:

1. Choose the Right Free Zone

Select a free zone that aligns with your business activities. For example, technology companies may prefer Dubai Silicon Oasis, while traders might opt for JAFZA.

2. Decide on Business Activities

Define the specific activities your business will engage in. This is crucial for obtaining the correct license.

3. Choose a Company Structure

Free zones offer several business structures, such as:

Free Zone Establishment (FZE) – Single shareholder

Free Zone Company (FZC) – Multiple shareholders

4. Register Your Company Name

Choose a unique name that adheres to the UAE’s naming conventions. Flyingcolour assists in ensuring your trade name complies with local regulations.

5. Apply for a License

Submit the required documents, such as passport copies, business plan, and application forms, to the relevant free zone authority.

6. Secure Office Space

Most free zones offer flexible office solutions, from virtual offices to fully furnished spaces.

7. Obtain Visas

Apply for residency visas for you and your employees through the free zone authority.

8. Open a Corporate Bank Account

Flyingcolour guides you in selecting the best banking partner for your free zone company.

Documents Required for Freezone Business Setup

The specific documents needed may vary by free zone, but commonly include:

Passport copies of shareholders

Proof of address

Business plan (for certain free zones)

Application forms

Memorandum of Association (MOA)

Flyingcolour ensures all documentation is correctly prepared and submitted on time.

Why Choose Flyingcolour for Freezone Business Setup?

Setting up a business in Dubai free zones can be complex, but with Flyingcolour Business Setup, the process becomes seamless. Here’s why you should choose us:

Expert GuidanceWith years of experience, our team understands the intricacies of UAE free zones and offers personalized advice.

End-to-End SupportFrom selecting the right free zone to managing documentation, Flyingcolour handles every aspect of the process.

Tailored SolutionsWe provide customized business solutions to meet your unique requirements.

Transparent PricingEnjoy clear, upfront pricing with no hidden costs.

Proven Track RecordFlyingcolour has successfully helped thousands of businesses set up in Dubai’s free zones.

Common Challenges in Freezone Business Setup and How We Help

Selecting the Right Free ZoneWith over 30 free zones in Dubai, choosing the right one can be overwhelming. Our team helps identify the most suitable option based on your business needs.

Understanding Regulatory RequirementsEach free zone has its own regulations. Flyingcolour simplifies these complexities, ensuring full compliance.

Banking ProceduresOpening a corporate bank account can be challenging, but we guide you through the process, helping you choose the right bank.

Final Thoughts

Setting up a business in a Dubai free zone is a lucrative option for entrepreneurs seeking a tax-friendly, strategically located base for their operations. With the right guidance and support, the process can be smooth and rewarding.

At Flyingcolour Business Setup, we specialize in helping businesses establish a strong presence in Dubai’s free zones. From selecting the ideal location to handling licensing and visas, we ensure a seamless experience. Contact Flyingcolour today to embark on your journey to success in Dubai!

[ejesgistnews]

CSOs Advise Tinubu, NASS to Reject Nigerian Coast Guard Bill.   The Coalition in Support of National Security Advancement (CSNSA) has urged President Bola Ahmed Tinubu and the National Assembly to reject the proposed Nigerian Coast Guard Bill. According to the coalition, the establishment of a Coast Guard would undermine national security and exacerbate Nigeria's financial challenges. Background of the Nigerian Coast Guard Bill. The bill, titled “Bill for an Act to Provide for the Establishment of the Nigerian Coast Guard,” has already passed its second reading in the Senate and has been referred to the Senate Committee on Marine Transport for further deliberation. It aims to establish an independent Nigerian Coast Guard responsible for safeguarding Nigeria’s vast maritime zones. However, the coalition, comprising various civil society organizations (CSOs) like the Centre for Social Justice, Equity and Transparency (CESJET), the Nigerian Unemployed Youth Association, and the Centre for Human Rights and Advocacy in Africa Network (CHRAAN), expressed grave concerns over the bill during a press conference led by Okwa Dan (Convener) and Ilal Abdulahi (Coalition Secretary). Concerns Raised by CSOs The CSOs argue that establishing a new Coast Guard service would duplicate existing functions handled by the Nigerian Navy, thereby creating inefficiencies. The coalition stated: “The creation of a new Coast Guard could duplicate existing responsibilities, jeopardize national security, and place a significant financial burden on the country.” The coalition highlighted that setting up a Coast Guard would require significant financial resources. The CSOs cited the U.S. Coast Guard’s annual expenditure of over $13 billion as an example, arguing that such costs would be unsustainable for Nigeria given its current economic constraints. Recommendations from the CSOs Instead of implementing the Coast Guard Bill, the coalition proposed the following: Strengthening the Nigerian Navy: The CSOs recommended boosting the capacity of the Navy, which has already proven capable of handling diverse maritime security tasks such as anti-piracy, environmental protection, and anti-smuggling operations. Prioritizing Civilian Control for Non-Military Maritime Functions: The group suggested setting up a civilian-run organization for non-military duties like environmental protection, customs enforcement, and search-and-rescue missions. This would avoid duplication of Navy operations and align with international best practices. Avoiding Constitutional Conflicts: The coalition emphasized that the Nigerian Constitution recognizes only three branches of the armed forces: the Army, Navy, and Air Force. Establishing a Coast Guard as a military service without constitutional amendments could lead to significant legal challenges and undermine the rule of law. How Police Authorities Tried To shield Officer Who Raped Minor, Quickly Punished Female Officer For Exposing Randy Officer (Video) Legal and Financial Implications The CSOs warned that establishing a new Coast Guard service could lead to constitutional ambiguities, especially since the proposed entity would fall under the Ministry of Marine and Blue Economy. They noted: “Creating a new military branch without proper constitutional amendments could result in serious legal disputes and erode the rule of law in Nigeria.” Additionally, the coalition pointed out that integrating personnel from various backgrounds without adequate vetting could compromise national security, making it easier for individuals with malicious intent to infiltrate the organization. The group cited potential risks such as increased piracy, oil bunkering, and smuggling. Public Hearing and Legislative Process The Coast Guard Bill is set for a public hearing at the National Assembly, a crucial step in the legislative process. The CSOs have urged lawmakers to consider the nation’s current financial limitations and security needs before making a final decision.

If the bill passes all legislative hurdles, it will be forwarded to President Tinubu for approval. However, should the President decline to sign it, the bill will not become law. The coalition’s stance reflects concerns about the financial and legal implications of establishing a new Coast Guard in Nigeria. With limited resources and existing security challenges, the CSOs argue that enhancing the Navy’s capabilities would be a more sustainable and effective approach to safeguarding Nigeria’s maritime zones. Stay tuned for further updates on the legislative process surrounding the Coast Guard Bill.

[365proservices]

Unlocking Success: Setting Up Your Business in Dubai Free Zones with 365 Pro Services

Setting up a business in a Dubai Free Zone is a popular choice for many entrepreneurs and investors. However, selecting the right Free Zone can be challenging. That's where expert guidance from business consultants like 365 Pro Services becomes invaluable. They assist in creating a robust strategy to help you navigate and choose the ideal Free Zone for your business needs.

In Dubai, there are two main types of Free Zones: Free Zone Establishments (FZE) and Free Zone Companies (FZ Co.) or Free Zone Limited Liability Companies (FZ LLC). These entities vary in the number of shareholders and legal structure. Each Free Zone operates under distinct regulations, making it crucial to align your business requirements with the specific prerequisites of the Free Zone you're considering.

Dubai boasts a diverse array of Free Zones, with more than 30 operational zones. Some renowned options include IFZA (International Free zone Authority) Dubai, Dubai Multi Commodities Centre (DMCC), Dubai International Financial Centre (DIFC), Jebel Ali Free Zone (JAFZA), Meydan, Dubai Airport Free Zone (DAFZA), Dubai South or DWC, among others.

Benefits of setting up your business in a Dubai Free Zone with us:

Complete Foreign Ownership

Tax Exemptions:

Superior Connectivity:

Tailored Infrastructure:

Modern Office Spaces:

Simplified Procedures:

Financial Repatriation:

Currency Flexibility:

Efficient Recruitment:

Dubai's Free Zones provide an exceptional opportunity for entrepreneurs aiming to establish their business. With advantages like tax exemptions, simplified procedures, and superior infrastructure, these zones foster an environment conducive to international trade and investment, supported by the expertise of 365 Pro Services.

[shoshanews]

Apply Department of Correctional Services: Entry-Level Jobs 2024 Department of Correctional Services: Entry-Level Jobs 2024 The Department of Correctional Services (DCS) is inviting unemployed South African youth to apply for entry-level government positions available in Pretoria. These roles provide an excellent opportunity for recent matriculants looking to gain work experience and contribute to a critical sector in the South African government. With roles in administrative, registry, and driving services, applicants can expect an engaging and supportive work environment, perfect for individuals ready to embark on their public service journey. - Company : Department of Correctional Services - Location : Pretoria, South Africa - Closing date: 25 November 2024 Each position below offers a valuable starting point for career growth, with responsibilities that contribute to the operational effectiveness of the Department of Correctional Services. 1. Administrative Services / System Clerk - Location: Office of the Deputy Minister, Pretoria - Reference No.: HO 2024/11/01 - Salary: R216,217 per annum - Requirements: Grade 12 / Matric certificate Key Responsibilities: - Provide general clerical support, manage and organize documents, and update relevant registers and statistics. - Handle routine inquiries and maintain document registers for the component. - Support supply chain and personnel administration within the department, including procurement, stock control, and leave management. - Assist in financial administration tasks, such as capturing expenses and handling petty cash. Skills and Competencies: - Strong verbal and written communication, organizational skills, punctuality, and attention to detail. - A reliable and assertive team player, with the ability to work under pressure and maintain confidentiality. 2. Registry Clerk - Location: Office of the Deputy Minister, Pretoria - Reference No.: HO 2024/11/02 - Salary: R216,217 per annum - Requirements: Grade 12 / Matric certificate Key Responsibilities: - Manage the flow of documents between the executive authority and various internal and external parties. - Ensure accurate filing of documents in alignment with the National Archives Act and other departmental regulations. - Serve as the chief user clerk, responsible for the control of office supplies and stationery. Skills and Competencies: - Excellent organizational abilities, interpersonal skills, flexibility, and a keen attention to regulations and procedures. - Ability to maintain confidentiality, with strong communication skills and the capacity to handle multiple tasks efficiently. 3. Driver - Location: Office of the Deputy Minister, Pretoria - Reference No.: HO 2024/11/03 - Salary: R183,279 per annum - Requirements: Grade 12 / Matric certificate, Valid Driver’s Licence Key Responsibilities: - Provide transportation for employees, guests, and special advisors within the executive office. - Collect, deliver, and distribute documents as required. - Maintain accurate records for vehicle use, including log sheets and petrol receipts. Skills and Competencies: - Strong punctuality and flexibility, good interpersonal skills, and the ability to work independently and responsibly. - Integrity, honesty, and a thorough understanding of workplace policies and procedures. SEE ALSO: Call Centre Agent (New Accounts) 2024 How to Apply? Interested candidates should prepare their application documents, including a certified copy of their Grade 12 / Matric certificate, valid driver’s license (for the driver position), and any other relevant certificates. Make sure to include the correct reference number for the position you are applying for in your application. Click Here to Apply Read the full article

[excelconsultant5]

Mastering Business Growth with QFC Compliance:

Excel Consultants' Expertise in Qatar

Table of Contents

Introduction

Understanding the QFC Framework

Benefits of Operating in the QFC

Regulatory Compliance and Governance

Bookkeeping Consultancy

Business Feasibility Studies

Project Management Services

Choosing Excel Consultants

Conclusion

Introduction

In the rapidly evolving business landscape of Qatar, establishing a firm under the Qatar Financial Centre (QFC) presents unique opportunities and challenges. Excel Consultants specializes in guiding businesses through this intricate framework, ensuring compliance, efficient management, and sustainable growth. Our comprehensive suite of services encompasses everything from company formation to ongoing financial reporting, tailored to meet the specific needs of each client.

Understanding the QFC Framework

The Qatar Financial Centre was established to create a business-friendly environment that supports local and international businesses. The framework is designed to promote investment in Qatar, providing a transparent regulatory regime that aligns with international standards.

One of the most attractive features of the QFC is its commitment to foreign investment. Businesses can enjoy 100% foreign ownership, allowing investors to maintain complete control over their operations. Additionally, QFC firms benefit from no restrictions on capital repatriation, enabling companies to move profits freely in and out of Qatar.

Moreover, the QFC operates under a unique set of regulations that prioritize simplicity and efficiency. The process for establishing a company is straightforward, significantly reducing the bureaucratic hurdles that many businesses face in other jurisdictions. Entrepreneurs can choose from a range of business structures, including limited liability companies (LLCs) and partnerships, tailored to suit their operational needs.

Benefits of Operating in the QFC

Choosing to establish a business in the QFC provides several advantages that can significantly enhance a company's potential for success.

Tax Benefits: The QFC offers an attractive tax regime, with only a 10% corporate tax on profits generated within Qatar. This competitive rate positions the QFC as a desirable location for businesses looking to optimize their tax obligations.

Access to Global Markets: The QFC’s regulatory framework aligns with international standards, facilitating ease of trade and investment across borders. This access enhances the potential for growth and expansion into new markets.

Supportive Ecosystem: The QFC fosters a supportive business ecosystem that includes a wide range of professional services, networking opportunities, and access to funding. Businesses can leverage these resources to enhance their operations and drive innovation.

Public Register and Transparency: The QFC Public Register provides transparency and accountability, enabling stakeholders to verify the legitimacy of registered firms. This feature not only enhances trust but also ensures that businesses operate under a framework of integrity and compliance.

Regulatory Compliance and Governance

Compliance with the regulatory requirements set forth by the QFC is crucial for maintaining good standing and avoiding penalties. The QFC Authority (QFCRA) governs the regulatory framework, which includes stringent requirements for financial reporting, governance, and auditing.

Every QFC-registered business must prepare annual financial statements in accordance with International Financial Reporting Standards (IFRS). These statements must be audited by an external auditor, ensuring that the financial records reflect an accurate and fair view of the company's financial health.

At Excel Consultants, we understand that navigating these requirements can be complex. We provide comprehensive support to ensure that our clients meet all regulatory obligations. Our services include:

Audit Preparation: We help businesses prepare for audits by ensuring that financial statements are compliant and well-documented.

Regulatory Filings: Our team assists with the timely submission of all required regulatory documents, minimizing the risk of non-compliance.

Ongoing Compliance Monitoring: We offer ongoing support to help businesses stay updated on regulatory changes and maintain compliance with QFC requirements.

Bookkeeping Consultancy

Accurate bookkeeping is essential for any business, particularly in a regulated environment like the QFC. Proper financial management ensures transparency, facilitates decision-making, and helps businesses meet their regulatory obligations.

Excel Consultants provides expert Bookkeeping Consultancy services tailored to the unique needs of each client. Our services include:

Financial Record Maintenance: We ensure that all financial transactions are recorded accurately and in compliance with applicable standards.

Monthly Reporting: Regular financial reports provide insights into a company's performance, helping management make informed decisions.

Cash Flow Management: Effective cash flow management is crucial for maintaining liquidity. We help businesses monitor and manage their cash flow to avoid potential pitfalls.

Tax Compliance: Our team ensures that clients remain compliant with local tax regulations, helping them optimize their tax obligations.

Business Feasibility Studies

Before embarking on any new business venture, it's essential to assess its feasibility. A comprehensive feasibility study evaluates the potential for success, taking into account market conditions, financial projections, and risk factors.

Excel Consultants offers detailed Business Feasibility Studies designed to provide clients with valuable insights into their proposed ventures. Our studies typically include:

Market Analysis: Understanding market demand, competitive landscape, and customer behavior is critical for making informed business decisions.

Financial Projections: We provide detailed financial projections, including expected revenues, costs, and profitability.

Risk Assessment: Identifying potential risks allows businesses to develop strategies to mitigate them, enhancing the likelihood of success.

Project Management Services

Effective project management is critical for ensuring that business initiatives are executed successfully. Whether launching a new product, expanding operations, or implementing new processes, Excel Consultants offers comprehensive Project Management services to guide businesses through their projects.

Our project management approach includes:

Planning and Strategy: We work closely with clients to develop detailed project plans that outline objectives, timelines, and resource requirements.

Execution and Monitoring: Our team monitors project progress, ensuring that it remains on track and within budget.

Risk Management: Identifying and addressing potential risks throughout the project lifecycle is key to achieving project objectives.

Performance Evaluation: Post-project evaluations provide insights into successes and areas for improvement, informing future initiatives.

Choosing Excel Consultants

When it comes to navigating the complexities of QFC compliance and business operations, choosing the right partner is crucial. Excel Consultants stands out as a trusted advisor with extensive experience in helping businesses succeed within the QFC framework.

Our key differentiators include:

Tailored Solutions: We understand that every business is unique. Our services are customized to meet the specific needs of each client, ensuring a personalized approach.

Expertise and Experience: Our team comprises industry experts with a deep understanding of the QFC regulatory environment and best practices in business management.

Ongoing Support: We believe in building long-term relationships with our clients. Our ongoing support ensures that businesses remain compliant and positioned for growth.

Proven Track Record: Excel Consultants has a proven track record of helping businesses thrive in the QFC. Our clients benefit from our extensive knowledge and resources.

Conclusion

Establishing a business in Qatar under the QFC framework offers immense opportunities, but it requires strict adherence to regulatory and financial requirements. Excel Consultants provides comprehensive services, from company formation to bookkeeping and project management, ensuring seamless compliance and growth.

[truthblockchain]

Ripple Receives Permission From Dubai For Blockchain Payments

The Dubai Financial Services Authority (DFSA) has granted in-principle approval to Ripple XRP/USD to offer blockchain-enabled payment services from the Dubai International Financial Centre (DIFC).

What Happened: This regulatory decision allows Ripple to introduce its cross-border payment services, including Ripple Payments Direct (RPD), to customers in the United Arab Emirates (UAE).

Brad Garlinghouse, Ripple’s Chief Executive Officer, said, “Blockchain and crypto technologies are here to stay. With its forward-thinking regulatory approach and clear guidance for innovative businesses seeking to invest and scale, the UAE is positioning itself as a global leader in this new era of financial technology.”

[sandraps]

Introduction

The United Arab Emirates (UAE) has emerged as a global hub for investment, attracting investors from around the world. Known for its strategic location, robust economy, and investor-friendly regulations, the UAE offers a fertile ground for various investment opportunities. This guide delves into the landscape of investment companies in the UAE, exploring the key players, investment opportunities, and the regulatory environment that makes the UAE a prime destination for investors.

1. Overview of the Investment Landscape in the UAE

The UAE’s investment landscape is characterized by diversity and dynamism. The country’s economy is one of the most diversified in the Gulf Cooperation Council (GCC), with sectors ranging from oil and gas to real estate, tourism, and financial services. Investment companies in the UAE cater to both local and international investors, offering a wide range of services including wealth management, private equity, venture capital, and real estate investment.

2. Types of Investment Companies in the UAE

Investment companies in the UAE can be broadly categorized into:

Wealth Management Firms: These companies provide personalized financial services to individuals, helping them manage their wealth through investment strategies, asset allocation, and risk management.

Private Equity Firms: These firms invest in private companies, providing capital for expansion, restructuring, or other purposes. They often play a crucial role in the growth of small and medium-sized enterprises (SMEs) in the UAE.

Venture Capital Firms: Venture capital firms focus on investing in startups and early-stage companies with high growth potential. The UAE has seen a surge in venture capital activity, particularly in the technology and fintech sectors.

Real Estate Investment Companies: The UAE’s real estate market is a major attraction for investors. Real estate investment companies facilitate investments in residential, commercial, and industrial properties, offering opportunities for capital appreciation and rental income.

3. Key Investment Companies in the UAE

Some of the prominent investment companies in the UAE include:

Mubadala Investment Company: A sovereign wealth fund, Mubadala manages a diversified global portfolio across various sectors, including aerospace, technology, healthcare, and real estate.

Dubai Investments: A leading investment company, Dubai Investments operates in multiple sectors, including real estate, manufacturing, healthcare, and education.

Shuaa Capital: Shuaa Capital is a financial services company offering asset management, investment banking, and capital markets services. It has a strong presence in the UAE and across the Middle East.

Abu Dhabi Investment Authority (ADIA): ADIA is one of the largest sovereign wealth funds globally, with investments across various asset classes, including equities, fixed income, real estate, and private equity.

4. Regulatory Environment

The UAE has established a robust regulatory framework to ensure the safety and transparency of investments. Key regulatory bodies include:

Securities and Commodities Authority (SCA): The SCA regulates the UAE’s securities markets, ensuring fair trading practices and protecting investors.

Dubai Financial Services Authority (DFSA): The DFSA is the regulatory authority for the Dubai International Financial Centre (DIFC), overseeing financial services, securities, and capital markets.

Abu Dhabi Global Market (ADGM): ADGM is an international financial center in Abu Dhabi with its own regulatory framework, focusing on innovation and growth in financial services.

To know more : aim global