Complex sentence: It originated in Dubai, though is now owned by holding company Kuranda International Ltd, also known as the Varkey Group, registered in the Virgin Islands under the umbrella of GEMS Menasa, registered in the Cayman Islands, with the ultimate parent being the Varkey Settlement.
Split into simpler sentences: It originated in Dubai, though is now owned by holding company Kuranda International Ltd, also known as the Varkey Group, registered in the Virgin Islands. That company is in turn owned by GEMS Menasa, registered in the Cayman Islands, with the ultimate parent being the Varkey Settlement.