Tax & Regulation | 1 Jan 13

Advisers with expatriate clients who are tax-resident in Spain say they are urgently reaching out to their clients to warn them that they must begin reporting to the Spanish tax authorities about any overseas assets they hold worth more than 50,000, following a recent change in the country’s tax regime.

Middle East | 1 Jan 13

A $3bn plan to create what is being billed as North Africa’s first offshore financial centre in Tunisia is still on, with construction work set to begin this month, according to the Bahrain-based investment bank behind the project.

Middle East | 1 Jan 13

The United Arab Emirates Central Bank plans to limit the size of residential real estate mortgages that expatriates living in the UAE may take out to 50% of the value of the property, according to Gulf media reports, which cite anonymous banking and real estate industry sources.