The Sultanate of Oman is gearing towards a Foreign Investor-friendly regulatory regime. With the latest regulatory reforms, foreign investment do not need a residency card to establish a business in Oman. This groundbreaking development is part of Oman’s strategic vision to diversify its economy and attract global investors. Thinking about expanding your business to Oman?...
The Supreme Audit Institution in the UAE is being replaced by the UAE Accountability Authority. The new Authority will be instrumental in UAE’s effort to curb Bureaucratic corruption and offer improved protection and safeguards to whistleblowers. Background WAM (Emirates News Agency), the official news agency of the United Arab Emirates (UAE) has reported on...
Judicial fees in Ras Al Khaima courts are substantially reduced for various legal proceedings, including civil and commercial lawsuits, rental disputes, and executive cases. Fee reductions for appeals made before the Courts of Appeal and Cassation. Jointly intervening litigants can engage in the legal process without incurring additional charges for their motions. On November 16,...
The Abu Dhabi Chamber of Commerce and Industry has unveiled the Abu Dhabi International Arbitration Centre (arbitrateAD), a new international arbitration centre situated in Abu Dhabi. Starting February 1, 2024, the new governance framework and arbitration regulations will supersede those of the Abu Dhabi Commercial Conciliation and Arbitration Centre (ADCCAC). This significant development marks a...
Medical Termination of Pregnancy is allowed when: aborting the fetus is the only option available to save the life of the pregnant woman. the fetus is malformed, with high chance of stillbirth or deficiencies in the child’s health, development and quality of life. Private health facilities must refrain from abortion operations unless they hold specific...
Federal Decree-Law No. (32) of 2023 on Finance Lease comes into effect on 29 March 2024 Bilateral and tripartite leasing includes sale-leaseback arrangements Registration of a finance lease agreement is no more mandatory; but needed to ensure enforceability with third parties In a tripartite lease arrangement, the risk of loss concerning the leased asset is...
Wooing corporates: KSA’s tax strategy to lure companies into shifting regional HQ to Saudi The Background Competition is intensifying between Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE), two of the biggest economies of the GCC, to become economic superpowers. KSA, the world’s largest oil exporter, has been actively pursuing bold...
New patent fees tailored specifically for small and medium businesses (SMEs). Reinstates fees for services such as annuities and change of representation. Amended fee structure for enhanced Industrial Property Rights regulation takes effect by January 15, 2024. With the introduction of new patent fees and reinstating certain abolished fees, the United Arab Emirates (UAE)...
Participation in the alternative end-of-service benefits Scheme is optional for employers. They can adhere to labour law provisions that align with their business needs. SCA will issue licenses to investment service providers or fund managers. Regulatory authorities across the UAE will oversee the implementation.
The UAE Labour Law amendment has brought in a transformative development. We explore the implications for employers and employees in the UAE, with the introduction of Federal Decree-Law No. 20/2023 on 13/09/2023.
