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July 30, 2026

Article 1 provides comprehensive definitions for terms used throughout the Agreement. Key terms defined include 'Financial Institution', categorised into Custodial Institutions, Depository Institutions, Investment Entities, and Specified Insurance Companies. It clarifies the scope of 'United Arab Emirates' and 'United States', excluding U.S. Territories. Definitions for 'U.S. Reportable Account', 'Specified U.S. Person', and 'Controlling Persons' are established to identify entities and individuals subject to reporting. The article also defines 'Cash Value', 'Equity Interest', and 'NFFE', ensuring legal precision in the application of due diligence and reporting obligations for UAE-based financial entities.

Agreement between the Government of the United States of America and the Government of the United Arab Emirates to Improve International Tax Compliance and to Implement FATCA

Whereas, the Government of the United States of America and the Government of the United Arab Emirates (each, a 'Party,' and together, the 'Parties') desire to conclude an agreement to improve international tax compliance;