UAE To Allow Loans Secured By Movable Property
by Lorys Charalambous, Tax-News.com, Cyprus
22 September 2020
The United Arab Emirates has released a new law that would allow businesses to use movable property to secure bank and commercial loans.
The UAE Government said Federal Law no. 4 of 2020, on Securing Interest with Movable Property, would enable companies operating in various business sectors, especially SMEs, to benefit from their movable properties to secure their bank and commercial loans. The move, it said, is intended to strengthen the UAE's global competitiveness and the ease of doing business there.
The UAE is considering the creation of an electronic registry in the country to record assets to ensure project financing. This register would allow the use of tangible and intangible movable property to secure loans, the Government said.
To see today's news, click here.
Tax-News Reviews
A review and forecast of Cyprus's international business, legal and investment climate.
A review and forecast of Malta's international business, legal and investment climate.
A review and forecast of Jersey's international business, legal and investment climate.
A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.
By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.
To manage your mailing list preferences, please click here »
Network Blogs and Features
- VAT Ventures in the Spotlight »
- New Beginnings... »
- Regional Focus: Europe »
- All Change in 2022? »
- Ten Actionable Steps to Start Your Business in the USA in 2022 »
- The Impressive Evolution of the UK's Bridging Loans Sector »
- An Agreeable Week for the US »
- Taking Tax Personally »
- Founder's Guide on Registering a Hong Kong Company »
- Recent VAT Developments »