MBOs/MBIs & Private Equity

Welcome to the home of MBOs/ MBIs & private equity on Law-Now.

On this page, you will find all the articles and publications for MBOs/ MBIs and private equity. CMS also delivers a host of other research and analysis for this area, including the CMS cross-border merger guide, Emerging Europe: M&A report and the CMS guide to employmentissues in an M&A transaction.

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Recent Articles

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    13.06.2023
    Middle East

    UAE Corporate Tax Law: When does a non-resident juridical person have a UAE Nexus?

    BackgroundThe UAE enacted its Corporate Tax Law (the “CTL”) in December 2022 (Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses). The CTL came into force on 1 June 2023. The main corporate tax rate of 9% applies on income exceeding AED 375,000 (roughly USD 102,000). The CLT provides that the rate of corporate tax which applies to “Qualifying Free Zone Persons” is 0% with respect to qualifying income and 9% on non-qualifying revenue.Under Article 11 of the CTL, a taxable person includes a non-resident person which has a UAE nexus.Cabinet Decision...
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  •  
    05.06.2023
    Middle East

    UAE Corporate Tax Law: What Constitutes Qualifying Income for Free Zone Persons?

    BackgroundThe UAE enacted its Corporate Tax Law (the “CTL”) in December 2022 (Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses). The CTL came into force on 1 June 2023. The main corporate tax rate of 9% applies on income exceeding AED 375,000 (roughly USD 102,000). The CLT provides that the rate of corporate tax which applies to “Qualifying Free Zone Persons” (“QFZP”) is 0% with respect to qualifying income (“Qualifying Income”) and 9% on non-qualifying revenue (“Non-Qualifying Revenue”).After much anticipation,...
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  •  
    25.04.2023
    Middle East

    Corporate Tax Thought Leadership Series: Anti-Abuse Rules for Small Business Relief

    BackgroundThe UAE enacted its Corporate Tax Law in December 2022 (Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses). The Corporate Tax Law applies with effect from 1 June 2023. A 9% tax rate will apply on income exceeding AED 375,000 (approx. US$102k). Despite its name, the Corporate Tax Law treats a natural person conducting business in the UAE as a “Resident Person”. Such a person’s business income would be subject to corporate tax in the UAE. Should the legislation not have extended the scope of the Corporate Tax Law to natural persons...
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  •  
    17.04.2023
    Middle East

    The legal framework for sustainable family businesses in the Kingdom

    BackgroundThe new Saudi Companies Law issued through Cabinet Decision No 678/1443 is a landmark legislation that has sown the seeds for a sustainable family business ecosystem. The provisions regarding family businesses introduced by the Companies Law are in pursuance of the economic objectives underpinned in the country’s landmark Vision 2030.Family CharterMost importantly, the Companies Law has introduced an institutional legal cover to family businesses. The founders, partners and shareholders of family-owned enterprises can now conclude a “family charter” (or a family constitution)...
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  •  
    12.04.2023
    Middle East

    UAE Corporate Tax: Small Business Relief Criteria

    BackgroundThe UAE issued its landmark Corporate Tax Law in December 2022 (Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses). The Corporate Tax Law applies with effect from 1 June 2023.The Corporate Tax Law provides a framework whereby small businesses who qualify as Resident Persons may elect to be treated as not having any taxable income for a tax period and therefore would pay zero corporation tax for that period (the “Small Business Relief”). However the Corporate Tax Law did not specify the criteria that Resident Persons would need to meet in order...
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  •  
    22.04.2022
    China

    Do Chinese subsidiaries of EU shareholders and EU nationals in China have to comply with EU sanctions on Russia?

    Recently the EU imposed additional sanctions on Russia and Russian companies and individuals. For foreign invested enterprises with EU shareholders and EU nationals in China, the questions arises whether they must comply with these regulations when doing business with Russian business partners from China. According to the answers provided by the EU Commission in their FAQs, the following applies: In principle, EU sanctions do not apply extra-territorially. In accordance with Article 13 of COUNCIL REGULATION (EU) No 833/2014 (the "Regulation"), the Regulation applies: within the territory of the...
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