Publications and news
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If you haven’t heard yet about GIFT City in India, this reading is for you. Gujarat International Fin-Tec City (“GIFT City”) is being developed as a global financial and IT Services hub on the lines of globally benchmarked financial centres. It includes a Special Economic Zone having the status of an International Finance Services Centre (“IFSC”). -
Comparison of Free Zones IFZA and RAKEZ (UAE)
In our latest article, we delve into a comparison of two popular free economic zones in the UAE: RAKEZ in Ras Al Khaimah and IFZA in Fujairah. Understanding the nuances of each of them is crucial for businesses considering company formation. Explore how corporate governance structures, registration processes, and compliance requirements differ between these zones. -
DIFC Foundations
In our practice, we encounter requests not only for the creation of investment funds but also for funds aimed at protecting the personal assets of beneficiaries. In Dubai, this type of fund is called a “Foundation.” The operation of Foundations within the Dubai International Financial Centre (“DIFC”) is governed by the DIFC Foundations Law №3, introduced in 2018. The purpose of the Law is to provide flexibility in succession planning, ensure the smooth transition of businesses from the founders to the next generation, and facilitate wealth structuring for families. -
Suing founders is a new trend or still an exception?
Last week, the news was actively discussed in the venture sphere that the TMT Investments venture fund sued the founder of one of their portfolio startups, which claims that before the round, the startup artificially inflated revenue, showed incorrect financial indicators in reports to shareholders, and also violated the articles of association. During my fairly long legal practice, I have participated a couple of times in court proceedings and I can imagine how long, time-consuming and expensive the process is.
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