A New World of Transparency – FATCA’s Implications on MENA Funds
In a recent article with MENA Fund Manager, Fred Tabbal, Regional Head of Fund Services – Middle East, addresses the implications of the US Foreign Account Tax Compliance Act (“FATCA”) on the Middle East fund manager. Virtually every non-US private equity and hedge fund will have to comply with the regulations because such funds will likely be considered foreign financial institutions (“FFIs”) under the rules. However, no Middle Eastern countries have indicated an intention to sign an intergovernmental agreement, meaning funds in these jurisdictions will be subject to the regulations, which come into effect 1 July 2014. Please click here to read the full article.