ADGM Establishes REIT Regime
by Lorys Charalambous, Lowtax.net, Cyprus
20 June, 2017
Abu Dhabi Global Market, the low-tax international financial center, has introduced a private real estate investment trusts regime.
The new regime takes effect from June 19, 2017, and follows the release of Consultation Paper No. 1 of 2017 in April this year, which received supportive feedback from public and industry participants.
ADGM has also enacted changes to safeguard the privacy of unitholders of ADGM-based funds by minimzing public disclosure of unitholders' information.
Further details of the newly implemented changes are available on ADGM's website.
ADGM is an international financial center established in 2013. It offers a range of attractive benefits to firms, including exemption from taxes guaranteed for 50 years, and relaxed rules on the repatriation of profits. ADGM permits 100 percent foreign ownership.
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