Insight Category: News
Foundations, a unique legal entity blending aspects of private companies and trusts, have gained significant traction in the United Arab Emirates (UAE). Established by a founder, these entities possess an independent legal personality, enabling them to own assets and enter into contracts in their own name. Drawing inspiration from principles outlined in cases like Salomon… Continue reading Foundations in the United Arab Emirates: A Versatile Legal Entity...
On 30 September 2024, the Federal Government of the United Arab Emirates (“UAE”) enacted Federal Decree-Law No. 26 of 2024, titled “Repealing Certain Federal Laws” (the “Law”). This decree includes a notable repeal of Federal Law No. 17 of 2004 on Combating Commercial Concealment, commonly known as the “Fronting Law.” The Fronting Law, initially implemented… Continue reading Repeal of anti-fronting law: The UAE continues to optimize its reputation as an investor friendly destination...
Public Clarification on Grace Period for Updating Tax Records: Key Points for Compliance The Federal Tax Authority (FTA) has recently issued Public Clarification TAXP007, introducing a grace period for updating tax records. This grace period is part of the FTA’s ongoing efforts to promote tax compliance and alleviate administrative burdens on registrants. The clarification outlines… Continue reading Key insights on FTA’s grace period for tax record updates: Essential compliance guidelines...
In recent years, the United Arab Emirates (“UAE”) has implemented a series of new legal reforms aimed at enhancing its investment environment and simplifying corporate operations. These changes support economic diversification, attract foreign investment, and streamline the processes related to establishing and managing companies. Below is an overview of some of the latest laws and… Continue reading Recent legal reforms in the United Arab Emirates’ corporate sector over the last five years...
This is originally published in INTERNATIONAL COMPARATIVE LEGAL GUIDE (ICLG) 1 Relevant Legislation and Rules Governing Franchise Transactions 1.1 What is the legal definition of a franchise? “Franchise” as standalone terminology is not defined in the internal regulations, as the concept of franchise does not have a separate legislative framework under UAE national law. However,… Continue reading INTERNATIONAL COMPARATIVE LEGAL GUIDE (ICLG) – Franchise 2025...
BSA Law is pleased to announce its successful representation of JBF Group, a leading manufacturer of polyethylene terephthalate (PET) and owner of the largest PET manufacturing facility in Europe, in bankruptcy restructuring proceedings in Ras Al Khaimah, where the parent company of JBF Bahrain and JBF Belgium is incorporated. Our restructuring and insolvency team, led… Continue reading BSA Law leads landmark restructuring for JBF RAK LLC under UAE Federal Bankruptcy Law...
This article was originally published on The National Saudi Arabia’s recent amendments to its Labour Law mark a shift toward a more structured, transparent employment environment. Set to take effect on February 18, 2025, these changes align with the Kingdom’s Vision 2030 goals, aiming for a balanced labour market that encourages fair treatment, Saudisation, and… Continue reading Saudi Arabia’s labour law amendments: What they mean for employers and employees...
Over the past ten years, Dubai’s real estate market has developed significantly, both in the residential and commercial sector. In the past two years however, there can be no doubt that the market has been booming. This boom has resulted in a significant increase in rental prices around the Emirate and that factor, along with… Continue reading Comprehensive guide to Dubai real estate fees: A decade of growth and affordable transaction costs...
The United Arab Emirates (“UAE”) has consistently demonstrated its commitment to being a leader in the regulation of virtual assets. This dedication is reflected in the establishment of several regulatory bodies active in the industry, including the Dubai Financial Services Authority (“DFSA”), the Securities and Commodities Authority (“SCA”), the Financial Services Regulatory Authority (“FSRA”), and… Continue reading UAE Virtual Assets: New tax guide clarifies cryptocurrency regulations for Free Zones...
As of September 14, 2024, the Personal Data Protection Law (“PDPL”) in Saudi Arabia is officially enforceable, indicating a new era for data privacy in the Kingdom. This pivotal moment not only solidifies the framework for protecting personal data but also presents organizations with critical questions about compliance and operational adjustments. In the wake of… Continue reading The KSA Personal Data Protection Law is in effect: Now what?...