A Dubai court on Monday refused Denmark's request to extradite British hedge fund trader Sanjay Shah over an alleged $1.7bn tax fraud.
The court requested on Friday that authorities submit the necessary documentation for the extradition.
Denmark's tax authority alleges that Mr Shah, a British citizen, was a central player in a scheme in which foreign businesses pretended to own shares in Danish companies and claim tax refunds for which they were not eligible.
In its ruling on Monday senior judge Rashid Al Smairi said that according to article (11) of the Law on International Judicial Co-operation, original copies of all official investigations carried out must be attached to the extradition request.
He said the copies must include records of witnesses’ testimonies signed by them and by police officers, details of the arrest, inspections and other evidence, such as accounting and technical reports related to proving the accusation against the person.
The case is open to appeal but lawyer Ali Al Zarouni, representing Mr Shah, told The National he believed it was unlikely Danish authorities will be successful.
“The file of the case is closed. They can't add documents in the Court of Cessation. There is no way in this file to add any papers,” said Mr Al Zarouni.
“We followed the law and the court applied the law. As I said before, there were breaches from the Danish side.
“Prosecutors [acting on behalf of Danish authorities] will most probably appeal. We will wait the period of 30 days to see what will happen.”
Mr Al Zarouni will now file for bail for Mr Shah, 52, who has been in custody since his arrest by Dubai Police in June on an international arrest warrant from authorities in Denmark.
“I don’t think there are any reasons to deny bail after this judgment. Our client has been in the country for a very long time and never tried to escape and faces what comes his way,” he said.
In January, Mr Shah, who lived on The Palm Jumeirah and ran a centre for autistic children, denied the charges and said he was operating within Danish law.
The international warrant was received by Dubai Police on January 7 and he was arrested five months later in the emirate's Al Rafaa district. He was denied bail by prosecutors in Dubai.
The arrest came after the signing of an extradition agreement between the UAE and Denmark.
Investigations by senior prosecutor Ismail Madani lasted about two months before the case was referred to court.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
How much of your income do you need to save?
The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.
In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)
Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.
ESSENTIALS
The flights
Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes.
The trip
From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
COMPANY%20PROFILE
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RESULTS: 2018 WORLD CUP QUALIFYING - EUROPE
Albania 0 Italy 1
Finland 2 Turkey 2
Macedonia 4 Liechtenstein
Iceland 2 Kosovo 0
Israel 0 Spain 1
Moldova 0 Austria 1
Serbia 1 Georgia 0
Ukraine 0 Croatia 2
Wales 0 Ireland 1
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
