Insight Category: News
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...
BSA Law, a leading regional law firm headquartered in the UAE, hosted a prestigious event at their DIFC offices in collaboration with the French Ambassador to the UAE, H.E.Nicolas Niemtchinow, Institut Français in the UAE, and the French Embassy. The event, titled “Marché de l’art: les Émirats s’invitent sur l’échiquier international,” aimed to explore the… Continue reading BSA Law hosts Art Dialogue with the French Ambassador to the UAE...
BSA Law Advocate, Shamma Alkindi, a distinguished legal professional renowned for her exceptional advocacy and unwavering commitment to justice, has been recognized with the prestigious Litigator of the Year Award at the Lexis Nexis Women in Law Awards. The awards ceremony, held at the Taj Exotica, The Palm, Dubai on 4th March, 2024, celebrated the… Continue reading Shamma Alkindi Honored with Litigator of the Year Award at Lexis Nexis Women in Law Awards...
The United Arab Emirates (the “UAE”) has recently introduced Dubai Law No. (1) of 2024 on ‘the Tax of Foreign Banks Operating in the Emirate of Dubai’ (the “Law”). The Law mandates a 20% tax on the annual taxable income of all foreign banks, including those located in special development zones and free zones. However,… Continue reading Dubai’s taxation on foreign banks...
In an era where cities are moving towards digital transformation, the ruler of Dubai, HH Mohammed bin Rashid Al Maktoum, issued Decree No. 13 of 2024, representing a qualitative leap in the business environment of Dubai. The decree aims to establish a unified digital Platform for company formation, which is a revolutionary step towards facilitating… Continue reading The Unified Digital Platform for Company Formation in Dubai: A Revolutionary Strategy to Attract Investments...
L’Autorité Fédérale des Impôts, l’entité gouvernementale responsable de la gestion, de la collecte et de l’application des impôts fédéraux aux Émirats Arabes Unis (“EAU”), a publié la Décision n° (3) de 2024 (la “Décision”) le 27 février 2024 dernier, fournissant des directives détaillées sur les délais d’enregistrement fiscal pour les (i) personnes morales résidentes(1), (ii)… Continue reading Impôt sur les sociétés : Nouvelle décision imposant une pénalité sur l’enregistrement....
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 from uncertified or self-proclaimed experts on TikTok? It can be risky to follow personal finance advice from unqualified or self-declared experts on websites like… Continue reading TikTok lures Gen Z with personal finance advice, but what are the risks...
The Constitution of the United Arab Emirates, as enshrined in Article 7, designates Arabic as the official language of the country. This linguistic foundation extends to the legal realm, as emphasized in Article 5 of Federal Decree Law No. 42 of 2022 concerning Civil Procedures. This legal framework dictates that the language of the courts… Continue reading The Impact of Circular No. 8 of 2023: Translation Requirements for Documents in Abu Dhabi Courts...
Writing for mentl, Michael Kortbawi, unpacks what the newly introduced end-of-service scheme in the UAE means for the financial stability of employees, and protections it may offer against companies that go bankrupt or that unlawfully withhold gratuities from their workers. And ultimately what it all means for our wellbeing. The UAE’s decision to establish an… Continue reading UAE builds peace of mind into gratuity for workers...