Insight Category: News
On Thursday 23rd May, BSA proudly entered into a Strategic Partnership Agreement with Meydan Free Zone, the first law firm to do so. This strategic collaboration marks a significant milestone for both entities, poised to enhance business opportunities and legal services within the Free Zone. The partnership will facilitate streamlined access to legal services, including… Continue reading BSA enters into strategic partnership with Meydan Free Zone...
Legislative strides catapult the UAE to the vanguard of progressive economies in the Middle East. The UAE stands as the foremost destination for foreign direct investment (FDI) in the Middle East, securing its position as the top-ranking nation in West Asia and the MENA region in 2022. According to the UNCTAD report, FDI inflows surged… Continue reading UAE leads the way in attracting foreign investment...
The Emirate of Dubai is currently experiencing a period of unprecedented economic growth and prosperity. There is much interest from investors who wish to establish a presence in Dubai to take advantage not only of the economic growth but also of the first world infrastructure and stability that this Emirate provides. Prior to taking the… Continue reading A practical guide to establishment planning in the UAE...
Enforcing a non-compete can be a complex and costly affair, the experts said Several companies based in the media city freezone require their employees to sign non-compete agreements, especially for those who are in roles like advertising, PR, journalism, etc. What does a non-compete in media and internet city freezones typically involve? From a legal… Continue reading UAE non-compete clauses: Employers could face challenge of enforcement if terms unclear, experts warn...
What is the legal and legitimate way to have those affected by the rains and floods claim from their respective insurers? Somebody informed me yesterday that this sector cannot claim because it has been provided in the insurance policy clauses that these kinds of problems are excluded and cannot be claimed since 2008. The cardinal… Continue reading Understanding Insurance Coverage: Navigating Claims for Rain and Flood Damage in the UAE...
The Saudi Central Bank (SAMA) has issued a decisive set of regulations to govern the burgeoning Buy Now, Pay Later (BNPL) sector in Saudi Arabia, marking a new era of legal oversight for this dynamic financial service. Legal Framework and BNPL Rise The global BNPL market, valued at $309.2 billion in 2023, while latest figures… Continue reading Redefining BNPL: How SAMA’s Regulations Are Shaping Saudi Arabia’s FinTech Sector...
In the dynamic commercial landscape of Saudi Arabia, where time is a critical factor, the need for swift and decisive resolution of debts is paramount. The Saudi legal system has innovatively responded with the introduction of the Performance Order. This rapid legal instrument is designed to expedite commercial operations by compelling debtors to fulfil their… Continue reading Payment Orders in Saudi Arabia: An Effective Legal Mechanism for Debt Collection in the Fast-Paced Commercial World...
The Federal Tax Authority has published a guide that details the criteria for identifying natural persons subject to the Corporate Tax Law, effective from June 1, 2023. ‘Corporate Tax Guide: Taxation of Natural Persons under the Corporate Tax Law’ is a crucial document for individuals engaging in business activities in the United Arab Emirates (UAE)… Continue reading UAE Corporate Tax: Identifying Natural Persons...
A new year brings New Year’s Resolutions. With corporate tax laws and guides still being drafted and published as we speak, making smart tax moves now brings benefits in uncertain times. Remember that Corporate Tax is 9% out of your revenues, therefore it is important to make correct and timely decisions. To assist with this,… Continue reading Your 2024 Corporate Tax To-Do List...
In a bid to fortify the growth and sustainability of family-owned businesses in Dubai, the Dubai Centre for Family Businesses, operating under the Dubai Chambers, has introduced a ‘Sample Article of Association for Family Businesses.’ This strategic move aims to provide a foundational framework for effective management, governance procedures, and corporate best practices, fostering growth… Continue reading Dubai Centre for Family Businesses Unveils Key Initiatives to Support Growth and Continuity...