11 October 2016
Recent changes to the UAE investment funds regulations have simplified the UAE domestic funds regime but will also have an important impact on the promotion of foreign investment funds to UAE investors.
The changes, implemented on 1 August 2016, mean that unless the foreign fund has been registered with the Securities and Commodities Authority (SCA), it may only be promoted to UAE investors by way of reverse solicitation or to government or government-owned entities. The private placement regime which existed prior to 1 August 2016 has been done away with. For those foreign fund promoters who wish to register their funds with the SCA, the costs for doing so have increased significantly.