Insight Category: News
Dubai Customs has issued an announcement that, effective 1 January 2019, all commercial and industrial companies operating under licenses issued by any of the free zones in the Emirate of Dubai and holding a customs code issued by Dubai Customs will have to comply with the new inventory system requirements, and all such companies that… Continue reading Dubai Customs Announces New Inventory Management System Requirements...
Effective as at 1st October 2018, the Insurance Distribution Directive ((EU) 2016/97) (IDD) [1], (Insurance Distribution Directive (IDD)) and its statutory provisions will apply to all EU distributors of insurance products and replaces the Insurance Mediation Directive (2002/91/EC) (IMD) [2]. The IDD provides wider application in terms of extending compliance of the rules to insurance… Continue reading Insurance Distribution in Europe & widers Implications for the Middle East...
The recruitment of expats in Oman is regulated by Oman Sultani Decree No. 35/2003 (the “Labour Law”). The provisions of the Labour Law governing the recruitment of expatriates are summarised below. Article 18 of the Labour Law stipulates that an employer is prohibited from hiring non-Omani workers unless the employee has obtained a permit from… Continue reading Oman New Expat Recruitment Rules...
Professionals from medicine, education and technology will be major beneficiaries of the UAE’s 10-year visa policy, which will come into effect in 2019, say legal experts. “I think professionals from medicine, education and technology and other certain professions such as accounting will benefit from this long-term visa. The 10-year visa to investors and skilled professionals… Continue reading 10 Year Visa To Investors, Skilled Professional Will Go A Long Way To Boost Investor Confidence...
UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued the Federal Law on ‘Netting’, its provisions shall apply to all qualified financial contracts and netting agreements specified under this law which are entered into by any person in the state. The law seeks to strengthen the legislative framework for the settlement of… Continue reading UAE issues Federal Law No.10 of 2018 on ‘Netting’...
A landmark law that will allow foreign investors to own 100 percent of companies in the United Arab Emirates, limited to specific industries, will be fully implemented by the end of 2018. The UAE Cabinet decision approved on May 20th, 2018 is the latest in a string of the legislative developments aimed at stimulating economic… Continue reading The UAE Foreign Direct Investment Law...
On 28 June 2018 the vast majority of VAT registrants will have to submit their first VAT Return to the Federal Tax Authority. This will be the first VAT Return, and the main question is whether these companies or individuals have prepared sufficiently for this task? The other important questions that any company or individual… Continue reading UAE VAT Return Deadline on 28 June 2018...
Marc Saroufim – Head of Corporate – Riyadh Francois Chemaly – Head of Corporate – Abu Dhabi BSA Ahmad Bin Hezeem & Associates LLP is pleased to announce the appointments of both Marc Saroufim and Francois Chemaly as the Head of Corporate for our Riyadh office and the Head of Corporate for our Abu Dhabi… Continue reading BSA Ahmad Bin Hezeem & Associates LLP appoints Head of Corporate for both Riyadh and Abu Dhabi...
Saudi Arabia will introduce its first comprehensive bankruptcy law on 18 Aug. 2018 in a move designed to encourage foreign and domestic investment in private business. The move is also seen as providing a boost for competitiveness and jobs, and to help pave the way for the transfer of knowledge and skills as part of… Continue reading Bankruptcy reforms ‘will spur Saudi Arabia investment’...