Corporate & M&A

There is a multitude of companies in the UAE that are owned by entities incorporated in “no or only nominal tax” jurisdictions (referred to herein as “noons”) such as the...

UAE FOREIGN INVESTMENT LAW Following the enactment of the UAE Federal Law No. 19 of 2018 on Foreign Direct Investment (“FDI LAW”), the UAE Cabinet has announced the positive list...

UAE Companies - How Your Business May Be Affected If you are operating an onshore or offshore entity in a “no or only nominal tax jurisdiction” (referred to hereinafter as...

UNITED ARAB EMIRATES Authors: Michael Kortbawi and Adam Tighe I INTRODUCTION i. Legal framework Article 383 of Federal Law No. 5 of 1985 on the Civil Transactions Law of the...

Dubai government expands opportunities for the private sector, as it restricts the expansion of state-related entities. Dubai is controlling the number of state-related entities to help support the expansion of...

The UAE implemented VAT on 1 January 2018 pursuant to Federal Decree-Law No. 8/2017 and the related Executive Regulations in Cabinet Decision No. 52/2017. The UAE is one of three...

Rima Mrad of BSA Ahmad Bin Hezeem & Associates LLP looks at the potential impact of the new Foreign Direct Investment law on existing shareholding arrangements in companies. The enactment...

Context One of the key strategic aims of Saudi Arabia’s Vision 2030 is to shift its oil-dependent economy to a knowledge-based economy. This multifaceted endeavor involves an extensive web of...

Arsalan Tariq has been named Partner at BSA Al Rashdi & Al Barwani Advocates and Legal Consultants in Oman. Practicing since 2009, Arsalan specializes in Islamic and conventional finance, bilateral...

BSA Ahmad Bin Hezeem & Associates LLP have been shortlistedin 5 categories at the Middle East Legal Awards 2020. Regional Law Firm of the Year Litigation Team of the Year...

Promotions Arsalan Tariq has been named Partner at BSA Al Rashdi & Al Barwani Advocates and legal consultants. Practicing since 2009, Arsalan specializes in Islamic and conventional finance, bilateral and...

The Foreign Direct Investment Law (Decree No 19 of 2018) established a framework enabling up to 100% foreign ownership of UAE businesses, outside of the designated freezones. Previously, foreign ownership...

UAE Compliance Update Over the past year, several key compliance regulations have been introduced across the UAE. See below a brief summary of these changes and how they may affect...

While the world is dealing with the repercussions of the Coronavirus and its impact on the wider worldwide economy, SMEs and family businesses are trying to deal with the impact...

On 26 March 2020, a Ministerial Decision was signed by the Minister of Human Resources and Emiratization, H.E. Nasser Bin Thani Al Hamli under No. 279 for 2020 in relation...

In an effort to assist private businesses (the “Companies”) dealing with the financial effects of COVID-19, the Ministry of Human Resources and Emiratization (the “Ministry”) has published “Ministerial Resolution 279...

The Federal Tax Authority (FTA) has issued a directive extending the filing date for their VAT Return for the Tax Period ending 31 March 2020, from 28 April 2020 till...

The emirate of Ras Al Khaimah (RAK) has now allowed 100% foreign ownership to companies in the mainland in order to attract more foreign direct investment (FDI) into the emirate....

BSA has recently made a partner-level personnel move for its Muscat office. Arsalan Tariq was hired two years ago by BSA’s, DIFC office and promoted to Partner at BSA’s Muscat...

UAE Cabinet Decision No. 58 / 2020is to be implemented to regulate the minimum obligations of the corporate entities incorporated in the UAE mainland and in the non-financial free zones...

UAE amends criminal sanctions involving bounced cheques TheOn 26 October 2020, the UAE Cabinet approved a cabinet resolution amending certain provisions of the Federal Law No. 18/1993 promulgating the UAE...

Bankruptcy Law Update Additional Debtor Relief Options Announced “On 21 October 2020, the Cabinet of the UAE approved amendments to the UAE Federal Law No. 9 of 2016, known as...

Regulation of the Procedures of Real Beneficiary UAE Cabinet passed Decision No. 58 / 2020 to regulate disclosure by corporate entities in the UAEmainland and in the non-financial free zones...

Dubai Introduces the Opportunity to Retire in the Sun ThisDubai has announced a new 5-year visa aimed at those 55 and older, around the globe, to travel to Dubai and...

VAT: Adjusting bad debts as a way of reducing output tax and increasing cashflow During these trying times of Covid-19 and its impact on the financial affairs and revenue of...

Economic Substance Report - ESR 2020 filing reminder In accordance with Cabinet Resolution No. 57 of 2020, entities that conduct Relevant Activities under the Economic Substance Regulations must file directly...

With VAT still being a fairly new concept in the UAE, the following article delves into the general principles contained within the VAT Laws and goes into detail on what...

The Dubai Land Department (DLD) has stated that a new draft law is set to keep rents in Dubai unchanged for a three-year period. This follows a prediction by the...

In late January 2021, the Small to Medium-Sized Enterprises (SME) Market Conduct Regulation (“Regulation”) was circulated to all banks and finance companies licensed by the Central Bank in the UAE...

Background The Federal Cabinet has recently issued Cabinet Decision No. 29/2021 regarding the Executive Regulations (the “New Executive Regulations”) for the Federal Law No. 4/2020 (the “New Movables Pledge Law”)....

What & Why? Foundations are a form of hybrid entity similar to both a private company and a trust structure. Combining the mechanisms of both a Foundation is established for...

Last month we provided an overview of the new Movables Pledge Law, in the following article we take a more in-depth look. Introduction The Federal Cabinet has recently issued Cabinet...

The Federal Cabinet issued the Cabinet Resolution No 58/2020 (the "UBO Regulations") last year. The UBO Regulations applies to: mainland (or onshore) companies (the "Mainland Companies"); and companies incorporated in...

In the following article, originally published in The Oath Magazine, Rima Mrad and Bradley Moran offer a comparison of the Foundations in the ADGM, DIFC & RAK ICC – the...

The following article was originally published for BSA by Arabian Business. The expatriate population of the UAE stands at 8.8 million, making up approximately 89 per cent of the total...

There are a number of precautions that ought to be taken into consideration prior to investing in a UAE business. With Expo 2020 currently taking place, Dubai is busier than...

New SCA Licensing Regime In 2020, the Securities and Commodities Authority (SCA), which is the UAE's financial and capital markets regulator, published a draft new rulebook on financial activities regulated...

Cybersecurity for SMEs in a Post-Covid era In a post-Covid era, cyber-attacks have today become the fastest growing crime on a global scale with 50 percent of such attacks targeting...

The interest in SPAC’s in the UAE and wider region is growing, but how does it work? SPACs, or special purpose acquisition companies, aim to acquire private companies and make...

The Future of Finance for SMEs In recent years, the governments of the Gulf Cooperation Council (GCC) have moved to reduce their reliance on hydrocarbons, designing ambitious strategic plans to...

Have SPAC listings hit ‘the wall’? SPACs, or special purpose acquisition companies, have been the subject of a drastic surge where they emerged as the preferred route for public fund-raising...

The global economy has experienced much uncertainty in recent years, however 2014 is predicted to be muchhealthier. Both Michael and Nadim have witnessed thisup-tick. “We have definitely experienced an increase...

Mamoon Ashraf of BSA Ahmad Bin Hezeem & Associates LLP examines a growing trend towards greater consumer protection in the Gulf Cooperation Council countries and wider region. Overview '75 Million'....

The Middle East and North Africa (MENA) region is a growing market which is attracting increasing interest from local and foreign investors alike. With competition on the rise, the region...

France and the United Arab Emirates are two key business partners. Approximately 350 subsidiaries of French companies are estimated to be settled in Dubai, whilst figures of the French presence...

Corporate governance is the underlying set of principles by which good business practices are conducted in the country. The hallmark of good corporate governance is the balance of entrepreneurship, control...

Being a senior professional in one of the leading regional law firms, I have worked and still working in a male dominant environment. I have been surrounded by men at...

The Islamic financial market has seen continuous growth in the past few years, particularly in the use of sukuk. As this debt instrument is carving itself a prominent place in...

Dar Al Sharia has launched its eagerly anticipated offices in the Dubai International Financial Center (DIFC). Dar Al Sharia is a Sharia, Legal and Financial consultancy firm consisting of an...

Foster Wheeler AG has acquired Ingen Ideas (“Ingen”), a privately held upstream consultancy company located in Aberdeen, UK. Ingen specialises in field development and project decision support, focused on the...

Michael Kortbawi, Partner at BSA Ahmad Bin Hezeem & Associates LLP discusses the Tax regime in the UAE. There are no federal tax legislation in the United Arab Emirates (hereinafter...

Jimmy Haoula talks to Calcus about effectively addressing diverse businesses through innovation. Tell us about BSA Ahmad Bin Hezeem & Associates LLP ( former Bin Shabib & Associates)? BSA Ahmad...

Proposed regulatory changes penciled to be introduced within the next two to three years are expected to boost consolidation among GCC insurance companies, local bankers, attorneys, and industry sources told...

Islamic finance is part of the sevenpillared plan to make Dubai a global capital of Islamic industry, economy and finance. There have been several recent developments and initiatives undertaken in...

The past month witnessed the announcement of several pieces of groundbreaking news fostering the growth and presence of Shariah compliant products in the Middle Eastern market. The latest developments are...

The Securities and Commodities Authority (SCA) board of directors recently approved the final form of the Regulation for Sukuk. The regulation enumerates the rules for the issuance and principal listing...

The Dubai Financial Market (DFM) officially published the final version of its ‘Standard for Issuing, Acquiring, and Trading Sukuk’ on the 2nd April 2014. The first of its kind, it...

Beirut-based Lebanese Islamic Bank started offering Shariah compliant services in 2005 by offering adequate and effective Shariah compliant alternatives to conventional banking products and services. However, ethics alone may not...

The first two months of 2014 witnessed a number of announcements relating to the Islamic finance economy which further reflected the commitment of the government of Dubai to follow the...

The end of 2013 witnessed the announcement of a groundbreaking decree by Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, regarding the creation of the Dubai Islamic Economy...

Rima Mrad, a Partner at Dubai-based law firm BSA Ahmad Bin Hezeem & Associates LLP (former Bin Shabib & Associates), has stated these new requirements should be a positive step...

Jimmy Haoula talks to Calcus about managing a regional law firm and the outlook for the legal industry in 2013. Tell us about BSA Ahmad Bin Hezeem & Associates LLP...

The United Arab Emirates has well and truly bounced back from the financial crisis on 2009-2010. Infrastructure construction has returned to full swing, while M&A deals abound, which means more...

There has been much speculation about the release of the new draft Investor Protection, which aims to codify the relationship between investors and developers. Mamoon Ashraf, corporate associate and Jimmy...

Mamoon Ashraf, corporate associate, BSA Ahmad Bin Hezeem & Associates LLP (former Bin Shabib and Associates (BSA) LLP) provides an overview and comparison of the key provisions of the UAE...

The legislative battle against anti-corruption in the region began in the 1980's. Mamoon Ashraf and Edouard Salwan of Bin Shabib and Associates look at how it has becoame a priority...

Speakerat the Intax Expo Middle East Hosted byIntax Group, at the Conrad Hotel, Dubai on 16 - 17 March 2015 Topic: International investments in UAE: Leading the way in the...

The UAE economy harbours an exceptional combination of commercial and environmental advantages which, coupled with the UAE’s political and economical stability, and the lenient approach to business; make the UAE...

Speakerat theJafza Road Show in Paris Hosted by BSA, Dumon & Partners, JAFZA (Jebel Ali Free Zone Authority), and Le Moci in Paris and Lyonon 9th – 13th March 2015....

BSA together with JAFZA organized a four-day road-show in Paris and Lyon, which included seminars and networking events with 300 of France's most prominent companies from a range of industry...

We contributed the UAE chapter in this guide by Meritas as part of the global alliance of business law firms in the network. The purpose of this guide is to...

A number of delegations visited the UAE in the past period with the aim of focusing on the terms of cooperation between the UAE and various European governments with respect...

Senior Associate, Nadim Bardawil delivered a student lecture at American University in Dubai (AUD) on 13 April 2015 coveringthe essential aspects of UAE law, as part of our CSR initiatives....

The Saudi General Investment Authority (SAGIA) and the Ministry of Commerce and Industry (MOCI) have recently announced that they were preparing joint studies to implement the directives of King Salman,...

BSA Ahmad Bin Hezeem & Associates are delighted to announce a market-leading affiliation between Dubai-headquartered regional law firm BSA Ahmad Bin Hezeem & Associates and Dumon & Partners, a boutique...

BSA Ahmad Bin Hezeem & Associates et Dumon & Partners sont heureux d’annoncer le rapprochement à compter de ce jour de leur cabinet d’avocats de Dubaï, leader au Moyen Orient...

Speakers at a legal seminar at the Abu Dhabi Chamber. Hosted at Abu Dhabi Chamber Building, on 24 November 2015. Topic: Commercial Companies Law No. 2 of 2015 Presenters: Dr....

Regional insight, global outlook Rooted in local heritage with a focus on building relationships, BSA Ahmad Bin Hezeem & Associates’ key strength lies in their ability to look beyond the...

As the UAE continues its ascent towards fully digitising all government services, significant progress has been made in the healthcare sector. From a regulatory standpoint, it is interesting therefore to...

We recently took part in The Oath Awards, hosted in a black tie awards ceremony at the Conrad Hotel in Dubai. The Oath is the Middle East’s premier legal publication...

Co-host at the In-House Congress Dubai 2016. Hosted by Pacific Business Press, at the Raffles hotel, Dubai on 2 March 2016. Practice Area Workshop: Deal Or No Deal: An Interactive...

Dr. Ahmad Bin Hezeem attended the CIS Global Business Forum 2016. Hosted by Dubai Chamber of Commerce & Industry on 17 - 18 February 2016 at Atlantis,The Palm, Dubai. Conference...

In an attempt to address recent criticisms targeted at its complex and time-consuming registration procedures and in order to attract significant foreign investments, perceived as a means of counterbalancing a...

On November 9th 2015 the Saudi Cabinet approved the text of the new Company Law, a move warmly welcomed by both the business and legal communities. The long-awaited piece of...

Speaker at INTAX Expo Global Summit 2016. Hosted by INTAX Expo, at Conrad Hotel on 14 - 15 March 2016, Dubai, UAE. Topic: Investing Globally – Flexible Corporate Structures Presenter:...

Speaker at a corporate seminar in Prague. Hosted by CZECH Gulf business council in cooperation with the Confederation of Industry of the Czech Republic, held in Prague, on 15 April...

Speaker at the Women entrepreneurs seminar in Stockholm. Hosted by Swedish International Development Cooperation Agency (Sida), held in Sweden, on 14 April 2016. Topic: Women’s economic empowerment – Stories of...

Après plusieurs années de négociation entre l’Iran et les membres permanents du Conseil de Sécurité de l’ONU plus l’Allemagne (P5+1), la levée des sanctions contre l’Iran est désormais acquise avec...

Mergers and acquisitions, whether from the perspective of the Seller or the Buyer entail considerable preparation, research, adjustment, and due diligence. In most jurisdictions, including the UAE, in spite of...

The Corporate Counsel Middle East Awards 2016 took place on 12 May 2016 at The Ritz-Carlton, Jumeirah Beach Residence, Dubai, UAE. The awards aim to recognise exceptional achievement by private...

Speaker at Business Breakfast organised by SABCO. Held at Warwick Hotel, Dubai on 1 June 2016. Topic: The future of VAT Speaker: John Peacock, Senior Associate and others The topics...

Speaker at business forum organised by Turkish Ministry of Economy and Turkish Exporters Assembly (TIM) as TIMAKADEMI. Held in Adana, Turkey on 1 June 2016. Topic: Doing business in Saudi...

Bertrand Dumon, Partner at BSA has recently advised French entrepreneurs, the founders and owners of premium, innovative sushi restaurant chain SushiArt in its acquisition by Eathos, the Dubai DIFC based...

The first half of 2016 has justified what many analysts have forecasted in regards to the shipping insurance sector in the Gulf Region – that it will maintain the trends...

Introduction In February 2016, the Ministry of Finance announced the introduction of Value Added Tax (“VAT”) in the UAE, and has ended a long period of speculation and discussion of...

Although, the UAE’s Islamic Economy has been growing, there are outstanding issueswhich have slowed development. Rima Mrad of BSA Ahmad Bin Hezeem & Associates LLP explains the problems and changes...

* GCC nations likely to implement VAT simultaneously on January 1, 2018 * Approximately 100 staple food items will be tax exempt * Education, social services and healthcare to be...

John Peacock, Senior Associate at BSA Ahmad Bin Hezeem & Associates LLP and Kelvin Tayfield, Managing Director of The VAT Services Group held a comprehensive seminar onGearing up for VATon...

Click here to view the PDF file Published: April2017 Practice: UAE Tax Law Publication: Lexis Middle East Law Authors: John Peacock

Click here to view the article in full PDF Click here to view full article online Published: May 2017 Publication: Executive-woman Magazine Title: Exclusive interview with Rima Mrad Practice: CommercialCorporate...

Click here to view the full PDF. Published: December 2016 Title: If you are asked to vacate Practice: CommercialCorporate and M&AReal Estate Authors: John Peacock and Robert Mitchely

Click here to listento the full interview. Published: May 2017 Title: Nadim Bardawil’s interview with Dubai Eye 1038 re UAE Labor Law Practice: Corporate and M&AInsurance & ReinsuranceIntellectual Property Authors:...

Analysis Offset obligations ("Offsets") are required by most of the GCC governments from their foreign service and product providers ("Contractors"). In short, as a matter of public policy, GCC governments...

On 03/05/1438 H (corresponding to January 31st, 2017 G), Saudi Arabia ratified the Gulf Cooperation Council (GCC) Value Added Tax Framework Agreement (the "Framework Agreement") by virtue of Royal Decree...

The UAE is a global business hub and it consistently attracts investments from across the world with its favorable business conditions. The country provides safety and ease of establishment which...

Saudi Arabia has been the first GCC state to put its draft VAT law out for consultation. Cyrille Naffah and John Peacock of the Saudi and UAE offices of BSA...

One of the most important points arising from the recent briefings on VAT by the Ministry of Finance is the proposed rules regarding ‘group registrations’. These ‘group registrations’ will allow...

Corporate Associate and Legal Consultant at a leading International Law Firm. Licensed before Primary Courts in the Sultanate with particular experience and interest in Corporate, Commercial Matters and Mergers and...

Click here to view the article online. Published: August 2017 Publication: gulfbusiness.com Title: All you need to know about the UAE’s tax administration system Authors: John peacock

Click here to view the article. Published: September 2017 Publication: Middle East Insurance Review Title: Legislation that leads to more IPOs Authors: Catherine Jaskiewicz

Click here to view the article in PDF. Published: October 2017 Publication: Good Magazine Title: Adding Value: Everything you need to know about VAT in the GCC Authors: John peacock

Click here to view PDF Published: November 2017 Publication: Lexis Middle East Law Title: VAT is happening in the Free Zone Authors: John Peacock

  It is crucial for businesses to start the preparation process early, as an understanding of the potential impact of VAT on the business will reduce friction in the ongoing...

The United Arab Emirates (UAE) is one of the most attractive business markets on earth. However, setting up a business here can be rather tedious if you are not familiar...

This practical workshop will provide valuable information about the UAE VAT Law and its impact on both the UAE and GCC. Attendees will be given the opportunity to develop a...

By Catherine Jaskiewicz   A. Setting-up a presence in Oman The Sultanate’s political stability and modern trading system, makes Oman one of the most attractive hubs in the Middle East...

By Lujain Al Yousef, Associate, and Abdullah Alanezi, Partner. Over the years the Kingdom of Saudi Arabia (KSA) has become a place of interest for many investorsaround the world. For...

  Owners' associations (OA) have been in a somewhat tricky position since the introduction of value added tax (VAT) in the UAE in January. The exact rules and regulations remain...

Transcript from gulfnews.com The Dubai Chamber of Commerce and Industry hosted a workshop today which helped familiarise businesses and professionals with essential, legal and practical aspects of the recently introduced...

  John Peacock, Head of Indirect Tax and Conveyancing, and Tyne Hugo, Associate, wrote a comprehensive step by step process on how to register for VAT in UAE. The UAE...

  BSA’s Dubai Lawyers’Bertrand DumonandEdouard Salwanadvised Louis Dreyfus Armateurs,a French global Group engaged in maritime transportation and services, in the structuring of their activities in the region and on an...

  John Peacock, Head of Tax and Conveyancing at BSA's Dubai office wrote an article for Emirates Law (published in the April 2018 edition) comparing the implementation of VAT in...

Michael Kortbawi and Raghad Hammad contribute to the UAE Chapter of The Legal 500: 2nd Edition Insurance & Reinsurance Comparative Guide. This country-specific Q&A gives apragmatic overview of the law...

  After 100 days in effect, people and companies alike seem to be coming to terms with the payment of Value Added Tax (“VAT”). There is one area though where...

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,...

The main goal of any wealth management and succession planning is to preserve the family legacy and family owned and operated businesses. The regulatory framework of succession planning in the...

Federal Law No. 20/2016; Cabinet Decision No. 5/2018; Cabinet Decision No. 6/2018; Federal Law No. 5/1985; Federal Law No. 11/1992; Federal Law No. 18/1993 Since the introduction of UAE Federal...

BSA's Rima Mrad and Nadim Bardawil contribute to the UAE Chapter of the ICLG Guide to Data Protection 2018. The Guidecovers relevant legislation and competent authorities, definitions, territorial scope, key...

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...

As of November 12th, 2018, the following Laws and Regulations are effective in the DIFC: Companies Law, DIFC Law No. 5 of 2018 Companies Regulations Operating Law, DIFC Law No....

In the latest update to the United Arab Emirates (UAE) visa system, the UAE Cabinet has approved the highly anticipated long-term visa for investors, entrepreneurs, specialized talents, researchers in the...

Abstract The implementation of VAT in the UAE left many registrants under the VAT laws asking questions, especially when it first came into operation. Now, several months down the line...

It all started when Federal Law No.2 of 2015 was enacted, amending the legal regime that governs local and foreign companies under Federal Law No.4 of 1984. These changes have...

Overview The article examines the material legal process involved when undertaking a corporate acquisition transaction in Saudi Arabia (Acquisition Transaction). The general process an Acquisition Transaction undergoes shares several similarities...

Introduction Real property development in the United Arab Emirates (“UAE”) is often undertaken on a joint venture basis. The reasons are not dissimilar to other jurisdictions, and include the sharing...

The IDEX conference just concluded last week in Abu Dhabi demonstrated the intertwining nature of the threats that the world currently faces in dealing with malevolent actors, as well as...

With a population that grew by 8% between 2014 and 2015, demand for financial, tourism, hospitality and manufacturing services is rapidly growing as Oman’s government moves towards its Vision for...

Direct Distribution 1.May a foreign supplier establish its own entity to import and distribute its products in your jurisdiction? A foreign supplier seeking to import and distribute its products in...

1.What is the relevant legislative framework? The laws and regulations governing antitrust and competition (cartel) in the United Arab Emirates are as follows: (a) The Federal Law No. 4 of...

Among such extensive reforms is the issuance of the new Anti-Fronting Law or Anti-Concealment Law, promulgated under Royal Decree No. M4/1441, Cabinet Decision No. 785/1441, (the "Anti-Concealment Law") which replaced...

The 9% corporate tax that the UAE has announced is a positive from the point of view of government finances, but how will it affect the smaller companies in the...

We will explore the comprehensive operational support needed to establish, grow and streamline your Dubai business activity. Join this session to learn more about what you need to know and...

The recent announcement by the American casino chain Wynn Resorts to build an integrated luxury resort in Ras Al Khaimah with multiple entertainment venues and a gaming center has sparked...

Established for the purposes of assuming the role of mother company to the Kaizen Group and its global affiliate companies, ensuring the intergenerational operation and expansion of the Kaizen Group...

In the following article Yasin Chowdhury discusses Articles 40 and 41 of the Labour Law, with Times of Oman, which cover termination. “The offences attract the provisions of Article 40...

Post pandemic where the world has become more digital, the need for personal data protection legislation is felt more urgently than ever before. In the wake of this urgency, Oman...

What’s happened and why? Oman has recently promulgated the Personal Data Protection Law by Royal Decree No. 6 of 2022 (“the Law”). The Law shall be supplemented by the implementing...

Dubai’s new virtual assets regulatory law – and the corresponding new virtual assets regulatory authority (VARA) that has been launched to regulate, supervise, and control virtual asset services – is...

I. FREE ZONE FUNDSForeign investors interested in creating an investment fund in the UAE can choose between two free zones the Dubai International Financial Centre (the “DIFC”) located in the...

In response, Bradley answered; "The UAE has always done what it can to attract foreign investment; however the latest updates to the UAE Golden Visa will usher in a new...

BSA Law Firm and United Insurance Brokers (UIB) are pleased to invite you to a panel discussion looking at how the insurance industry can remove risks and increase returns in...

The Dubai International Financial Centre (DIFC) – the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region – has published its Consultation Paper No. 2...

The ongoing legal battles surrounding the NMC Healthcare, the largest private healthcare provider in the United Arab Emirates (UAE), has been a big learning curve for how businesses manage their...

On Thursday May 26th, BSA Ahmad Bin Hezeem & Associates (BSA), in partnership with United Insurance Brokers (UIB), hosted a workshop on ‘Mitigating Risks and Increasing Returns in M&A: How...

Since the implementation of Corporate Tax (CT) into the UAE was announced on 31 January 2022, there has been much excitement (good or bad) and curiosity about how it would...

On 24 May 2022 his Excellency Dr Abdulrahman Abdulmannan Al Anwar, the Minister of Human Resources announced Cabinet Resolution No 18 of 2022 (“the Resolution”), which is effective from 1...

In a recent edition of The Oath Magazine, Arsalan Tariq and Yasin Chowdhury offer commentary on the new CBO Financial Consumer Protection Regulatory Framework - a milestone for financial consumer...

When the Ministry of Finance (MOF) announced the implementation of corporate tax it announced that it would be following the Organization for Economic Co-Operation and Development (OECD) model. By doing...

Over the past two years, the UAE Central Bank (“CBUAE”) has been actively working on issuing updated circulars to address the growing concerns and challenges relating to money laundering, financing...

IntroductionAs the UAE continues to attract entrepreneurs and foreign investment we expect to see a steep rise of start-ups in the near future.Crucial to a start-up are well organized and...

UAE-based Amanat Holdings, a healthcare and education investment company, has recently received approval to raise the cap on foreign ownership of the company’s shares from 49% to 100%. The company...

A family-owned business maybe be the oldest form of business organization in human history. In the GCC, the business environment has developed exponentially to the extent that there are large...

Federal Law No. 2 of 2015 on Commercial Companies (“CCL 2015”) introduced numerous provisions regarding record keeping and reporting and, as we all know, there was a reason behind this;...

The Saudi Arabian Vision 2030 is predicated on the development and diversification of the economy of the Kingdom of Saudi Arabia (Saudi Arabia). To realise Vision 2030, the Saudi Arabian...

On June 28, 2022, the Saudi Council of Ministers in the Kingdom of Saudi Arabia (the ‘Kingdom’ or ‘KSA’) approved the new Companies Law (the ‘New Companies Law’) under Saudi...

As per our Article published regarding Corporate Tax in the UAE and our Interview on Corporate tax which is available at the following: What will Corporate Tax look like for...

Foundations and Trusts are both legal entities that are used to manage assets and provide financial support for specific individuals or organizations. However, there are some key differences between the...

Senior associate, Tyne Hugo, recently spoke with ESG Mena on the topic of 'Taxation in the UAE and the impact on Environment, Social and Governance'. Read the full article below...

Tyne Hugo and John Peacock discuss the recent significant UAE VAT Law changes for 'Lexis Middle East Gulf Tax'. Federal Decree-Law No. 18/2022 brought in a number of changes to the...

The factors that contributed to the collapse of Silicon Valley Bank were complicated and varied. Certain professionals have identified the bank's excessive dependence on the technology industry as a key...

IntroductionSaudi Arabia has recently unveiled four new Special Economic Zones (SEZs) across the country, bolstering its reputation as a global business hub and providing significant opportunities for investors across key...

Senior Associate Tyne Hugo recently spoke with Gulf News regarding the implementation of Corporate Tax in the UAE and how to prepare for it. Corporate tax will be implemented in the...

The Kingdom's regulatory environment is constantly evolving in response to the dynamic global business landscape. The most recent evolution comes in the form of a new set of controls aimed...

The Ministry of Finance recently announced Cabinet Decision No 74 of 2023 (the Cabinet Decision) on the Executive Procedure of Federal Law no 28 of 2022 on Tax Procedures (New...

The introduction of the Corporate Income Tax (CIT) in the UAE is not just a new tax policy; it's a tectonic shift in the nation’s financial architecture. Coupled with the...

The Emirates News Agency recently announced the official establishment of the General Commercial Gaming Regulatory Authority (GCGRA) in the United Arab Emirates as a federal authority to introduce a world-leading...

Antoine Iskandar recently spoke with Arabian Business answering the following questions regarding the use of TikTok for personal finance advice. What are the risks of younger people taking personal finance advice...

Comment les EAU ont réussi à diversifier leur économie, à établir le DIFC et l'ADGM en tant que principaux centres financiers de la région et à booster leur secteur touristique...

In an AB Majlis Podcast Rima Mrad, candidly shares her experiences and challenges as a woman in a male-dominated industry. “There is a presumption that women are not necessarily looking for...

As Saudi Arabia continues to align its economic framework with Vision 2030, significant proposed changes to the Income Tax Law (ITL) and related regulations have been introduced for public consultation....

A new Federal Decree-Law No. 51/2023 on issuing Financial Reorganization and Bankruptcy Law has been published in the official Gazette on 31st of October 2023 abrogating Federal Decree-Law No. 9/2016....

1. IntroductionThe United Arab Emirates (“UAE”) took a significant step forward on 9 December 2022 with the release of the Federal Decree-Law no. 47 of 2022 on ‘the Taxation of...

Saudi Arabia's ambitious Vision 2030 continues to unfold, with the Regional Headquarters (RHQ) Program playing a pivotal role in reshaping the Kingdom's business environment. The introduction of a 30-year tax...