Insight Category: News
Federal Law No. 2 of 2015 on Commercial Companies (“CCL 2015”) introduced numerous provisions regarding record keeping and reporting and, as we all know, there was a reason behind this; following the implementation of CCL 2015, VAT was introduced in 2018, and corporate tax is being introduced in June 2023. If it was evident from… Continue reading 2021 Commercial Companies Law – infusing flexibility and growth into Public Joint Stock Companies...
The Saudi Arabian Vision 2030 is predicated on the development and diversification of the economy of the Kingdom of Saudi Arabia (Saudi Arabia). To realise Vision 2030, the Saudi Arabian government is relentlessly working to improve the country’s socio-economic environment and expand economic opportunities to all citizens, including women. As part of Saudi Vision 2030… Continue reading The KSA Regional Headquarters (RHQ) Program...
The Gulf News reader said: “I was previously a domestic worker. After leaving that job, I started working as a messenger at an office. After four months of work at the company, my boss’s relative assigned me a personal task – to drop and pick up a family member from Abu Dhabi. We agreed that… Continue reading UAE Labour Law: Can an employee withdraw their resignation after filing it?...
The following article provides a useful guide to the various types of funds within the UAE. I. FREE ZONE FUNDS Foreign investors interested in creating an investment fund in the UAE can choose between two free zones the Dubai International Financial Centre (the “DIFC”) located in the Emirate of Dubai and regulated by the Dubai Financial… Continue reading Types of funds in the UAE...
The UAE’s Crypto Industry’s Exponential Growth Leading to an Increase of Cryptocurrency-Related Scams: How to Detect and Avoid them It has become increasingly clear that the UAE has recognized the tremendous potential of cryptocurrency and blockchain technologies and is set to become a hyper-connected city and an ever-evolving business hub. One of the consequences of… Continue reading The rise of crypto scams in the UAE and how to secure your crypto transactions...
The ongoing legal battles surrounding the NMC Healthcare, the largest private healthcare provider in the United Arab Emirates (UAE), has been a big learning curve for how businesses manage their financial records and how banks carry out due diligence, while the eventual outcome will put in place an important set of new legal precedents, BSA… Continue reading NMC scandal is watershed moment for UAE businesses...
An overview of the Federal Narcotics and Psychotropic Substances Control Law Promulgated by Federal Decree-Law No. 30 of 2021. Recently the law regarding narcotic drugs and psychotropic substances has been updated, this is in light of legislative developments pursued by the UAE legislator in developing several laws within the country. There have been misinterpretations made… Continue reading The Federal Narcotics and Psychotropic Substances Control Law and deportation...
On the back of Electric Vehicle Innovation Summit (EVIS), the Abu Dhabi Department of Energy (DoE) announced on Wednesday May 25th the introduction of a new regulatory policy for Electric Vehicle (EV) charging infrastructure in the emirate. This is a substantial step forward towards the goal of meeting the UAE’s ‘Net-Zero by 2050’ strategic initiative… Continue reading The Greener Future of EVs...
On Thursday May 26th, BSA Ahmad Bin Hezeem & Associates (BSA), in partnership with United Insurance Brokers (UIB), hosted a workshop on ‘Mitigating Risks and Increasing Returns in M&A: How Insurance Provides Both’. Held in BSA’s award-winning DIFC offices, the event was delivered in two parts, the first being an interactive panel discussion, where Simon… Continue reading BSA event: Mitigating Risks and Increasing Returns in M&A...
On 24 May 2022 his Excellency Dr Abdulrahman Abdulmannan Al Anwar, the Minister of Human Resources announced Cabinet Resolution No 18 of 2022 (“the Resolution”), which is effective from 1 June 2022. The announcement incentivizes private companies to comply with the terms of Federal Decree Law No 33/2021, all executive regulations and decisions issued by… Continue reading The UAE’s new classification for private companies...