Insight Category: News
The Federal Decree-Law No. 30 of 2021 on Combating Narcotic Drugs in the UAE introduced Article 96, which deals with the importation of narcotics and psychotropic substances into the UAE, and the exceptions of absolving the act as a non-punishable offense under the law. Since the article was implemented, it has become evident that the… Continue reading Practical implementation of Article 96 of the UAE’s Anti-Narcotic and Psychotropic Substances Law...
The UAE has recently introduced the corporate tax law, reshaping the nation’s fiscal landscape. This comprehensive article focuses on free zone persons—juridical entities within free zones—and explores the conditions that grant exemptions from corporate tax. The corporate tax law seeks to achieve a balance between encouraging economic activity and ensuring a just tax environment, urging… Continue reading UAE corporate tax: Who is considered a qualifying free zone person?...
In a significant development, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Chairman of the Dubai Integrated Economic Zones Authority (“DIEZ”), has greenlit the authority’s strategic plan for 2024-2026. This visionary strategy is poised to fortify Dubai’s position as a premier global investment destination across diverse sectors, aligning with the emirate’s strategic priorities.… Continue reading Dubai Integrated Economic Zones Authority (DIEZ) Unveils Visionary Strategy for 2024-2026...
What is the new rule and how is it different from the earlier rule?The new rule in the UAE regarding the golden visa through real estate investment involves the removal of the AED1 million ($272,294) minimum downpayment requirement. Previously, in order to qualify for the 10-year renewable residency scheme introduced in 2019, investors were required… Continue reading UAE Golden Visa: Dubai makes major change to property down payment requirement...
Les Emirats Arabes Unis (EAU) ont adopté un nouveau régime fédéral d’impôt sur les sociétés (IS) avec le décret – loi No47 de 2022, entré en vigueur depuis le 1er juin 2023. On constate que les Emirats Arabes Unis ont voulu, en adoptant ce décret-loi, effectuer une réforme fiscale qui leur permettra de se rapprocher… Continue reading Aperçu de l’impôt sur les sociétés: Emirats Arabes Unis...
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the introduction of the e-legislation portal during the Cabinet meeting on Monday, February 5, 2024. The UAE has launched a comprehensive legislation platform, uaelegislation.gov.ae, encompassing federal laws, decrees, bylaws, and executive decisions issued since… Continue reading Launch of comprehensive digital platform for UAE legislations...
Nature and Characteristics of Payment Orders The Payment Order, as delineated in Chapter Seven of the Law of Commercial Courts, stands as an exception to traditional litigation rules. Characterised by its rapid issuance, potentially within just ten days from the application, this order functions akin to an interim action or summary judgment. While a court’s… Continue reading Payment Orders in Saudi Arabia: An Effective Legal Mechanism for Debt Collection in a Fast-Paced Commercial World...
A recent amendment to an existing UAE law has made it easier for medical professionals to conduct an abortion if the mother’s life is in danger. In the following article, written by litigation lawyers Hadiel Hussein and Nadine Mukhtar for Khaleej Times outline how this significant change puts pregnant woman in charge of their health. … Continue reading Change in UAE law on abortion eases consent rules...
The United Arab Emirates (UAE) achieved a significant milestone on February 23, 2024, as it was removed from the Financial Action Task Force’s (FATF) “Jurisdictions under Increased Monitoring” list, commonly known as the “grey list,” where it had been listed since March 4, 2022. This decision highlights the country’s commitment to strengthening its global financial… Continue reading The UAE’s Removal from FATF Grey List: A Victory of Public-Private Partnership and Promising Economic Prospects...
The Federal Tax Authority has issued Decision No. 3 of 2024 on Feb 27, 2024, providing detailed guidelines on the tax registration timelines for Resident Juridical Persons, Non-Resident Juridical Persons, and Natural Persons. The decision follows the updates made to certain provisions of Cabinet Resolution No. (75) of 2023. The Ministry of Finance has announced… Continue reading Corporate Tax Registration Timeline...