Insight Category: News
On 24th July 2024, the Ministry of Labour issued a statement outlining several new measures to regulate the employment sector in Oman. These decisions, set to be implemented in September 2024, are aimed at increasing Omanisation and ensuring compliance with requisite labour standards in Oman. Below are the key points from the Ministry’s decisions: i.… Continue reading Oman Ministry of Labour’s new regulations to boost Omanisation...
A routine software update by cybersecurity giant CrowdStrike recently triggered a cascading global IT outage. A flaw in CrowdStrike’s antivirus software update targeted specifically at Windows devices inadvertently disrupted critical systems worldwide. Payment systems faltered, banks struggled to process transactions, and airports faced operational disruptions. The incident serves as a stark reminder of the vulnerabilities… Continue reading CrowdStrike Incident Prompts Overview of UAE Cybersecurity Legislation...
The Executive Regulations are yet to be issued, allowing data controllers ample time to adapt to the law, but in their absence, the transition may be incomplete and counterproductive. The UAE legislator was among the first in the region to introduce a standalone data privacy law in September 2021, Federal Decree Law No. 45 of… Continue reading Data Protection in the UAE: Why are the Executive Regulations so essential?...
The new law highlights the UAE’s commitment to free market principles whilst ensuring that it remains a world class competitive market for its consumers. Recently the UAE Federal Government promulgated Federal Decree Law No. 36/2023 on the Regulation of Competition (“the New Competition Law”) which came into effect on 29 December 2023. The New Competition… Continue reading Curbing monopolistic practices under the UAE’s New Competition Law...
You can download the PDF version here. I INTRODUCTION Saudi Arabia is returning to space with a bold vision, over 37 years after Prince Sultan ibn Salman Al Saud’s space trip that made him the first Saudi Arabian citizen, Arab, Muslim, and the first member of a royal family to ever visit the final frontier. Nowadays,… Continue reading A general introduction to Space Law in Saudi Arabia...
The UAE strategic location with access to international markets and a strong legal framework that supports business operations and wealth management enhance its appeal as a premier destination for wealthy individuals seeking a dynamic and secure place to grow and protect their wealth. High net worth individuals (HNWIs) living in the UAE enjoy a favourable… Continue reading Revealed: Tax strategies for high-net-worth individuals in the UAE...
When a judgment is handed down ordering a debtor to pay compensation, it is possible for the creditor to submit a request to the Execution Judge to seize and issue circulars against the assets of the debtor, such as bank accounts and vehicles, or impose travel bans on the debtor until the full settlement is… Continue reading Lifting the Burden on Debtors: Dubai Courts Facilitate the Ease of Settling Debt...
The UAE has long been recognized as a hub for innovation and entrepreneurship, attracting startups and small businesses from around the globe. However, with the recent introduction of corporate tax, which play a crucial role in shaping the business landscape, SMEs must navigate a new fiscal landscape that brings both challenges and opportunities. This article… Continue reading What tax reliefs are available to UAE SMEs?...
The United Arab Emirates (“UAE”) has long enjoyed a reputation as a tax-efficient destination for both individuals and businesses. Its strategic location, flourishing economy, and favourable tax policy have attracted expatriates from all over the world. This article explores key tax strategies for expats living in the UAE, drawing insights from the latest legislative guides… Continue reading Tax Strategies for Expats in the UAE...
In recent years, the United Arab Emirates (“UAE”) has embarked on a significant shift in its fiscal landscape by implementing a federal tax on corporations and businesses. Central to this development is the Federal Decree-Law No. 47 of 2022, known as the Corporate Tax Law. Effective from June 2023, this legislation has broad implications not… Continue reading What Does UAE Corporate Tax Law Mean For High-Net-Worth Individuals(HNWI)...