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KUWAIT: Ahli United Bank (AUB) announced yesterday that it will organize a special seminar for its Private Banking clients, on the “Changes applied around corporate inheritance tax for unregistered companies owning real estate property in the United Kingdom”. The initiative to organize this seminar reflects the Bank’s keen interest in communicating with its elite clients on such tax and related legislative changes - the latest being an inheritance tax on properties owned indirectly by nonresidents in the UK through unregistered companies (offshore).

The seminar will be held at the Bank’s Head Office on Tuesday 4 October at 12:00 pm, and will include a number of clients who own property in the UK through offshore companies. Senior managers will also be present including Mr Medhat Tawfik, AUB’s Private Banking and Wealth Management General Manager. In addition, Mr. Piers Master, Partner at Charles Russell Speechlys, a London-based law firm will lead the seminar, and shed light on the impact of changing tax rates for investors along with the challenges they potentially face. Mr Medhat Tawfik said, “AUB is keen to keep its clients informed at all times through the provision of the latest updates across the financial and real estate investment sectors, locally and internationally.

This is as part of the Bank’s philosophy of safeguarding its clients’ varied financial and investment interests. AUB is committed to providing a high quality service to its clients. Specifically, in this instance, in relation to the latest changes taking place in tax legislations in the UK, an important destination for real estate investors from Kuwait and many other countries. AUB continues to lead the way in organizing important seminars and discussions for its clients. The Bank organizes a series of integrated seminars and discussions throughout the year, which focus on a number of important topics relating directly to the interest of clients.