Insight Category: News
Dubai Chamber of Commerce and Industry recently organised a workshop in collaboration with BSA Ahmad Bin Hezeem & Associates LLP which provided valuable information about the UAE Bankruptcy Law and its impact on both debtors and creditors in the country. The sessions led by BSA Ahmad Bin Hezeem & Associates LLP, briefed participants on various… Continue reading BSA & Dubai Chamber Host Bankruptcy Workshop...
With a population that grew by 8% between 2014 and 2015, demand for financial, tourism, hospitality and manufacturing services are rapidly developing as Oman’s government moves towards its Vision for Oman’s Economy (Oman 2020), including the national programme for enhancing economic diversification. Attracting foreign investment is a major part of Oman’s drive to achieve such… Continue reading Potential 100% Ownership for Business Investors in Oman...
Healthcare Federal Law No.2 of 2019 – Using IT and Telecommunications in the Healthcare Sector The United Arab Emirates Government Promulgate Federal Law No.2 of 2019 – Using IT and Telecommunications in the Healthcare Sector (“the Law”), which for the first time regulates healthcare data processed, controlled, transferred and stored electronically. The Law contains 22… Continue reading UAE Legal Update – Regulatory Alert Healthcare...
A new chapter for thousands of visa violators in the UAE The UAE government introduced the amnesty program which allows illegal residents in the United Arab Emirates (“UAE”) to regularize their status or leave the country without facing fines or legal ramifications. This program’s moto is “Protect Yourself by Modifying Your Status” and will run… Continue reading Protect Yourself by Modifying Your Status’...
The President of UAE passed a law amendment number 2 of 2018 on UAE Cybercrime law to amend the sanctions under articles 26, 28 and 42 of the said law (“Cybercrime New Amendment”). The Cybercrime New Amendment was published on August 13, 2018 and increases the range of imposed sanctions against violators. It also introduces… Continue reading Cybercrime New Amendment Law in the UAE...
The Abu Dhabi Department of Economic Development (ADED) announced on Saturday 15th September 2018 the launch of the first phase of its Dual Licenses Initiative (DLI). The initiative enables companies operating offshore in the Emirate’s free zones to carry out their commercial activities onshore in Abu Dhabi, Al Ain and Al Dhafra regions. WHAT ARE… Continue reading Abu Dhabi: The New Dual Licenses Initiative...
Effective as at 1st October 2018, the Insurance Distribution Directive ((EU) 2016/97) (IDD) [1], (Insurance Distribution Directive (IDD)) and its statutory provisions will apply to all EU distributors of insurance products and replaces the Insurance Mediation Directive (2002/91/EC) (IMD) [2]. The IDD provides wider application in terms of extending compliance of the rules to insurance… Continue reading Insurance Distribution in Europe & widers Implications for the Middle East...
The recruitment of expats in Oman is regulated by Oman Sultani Decree No. 35/2003 (the “Labour Law”). The provisions of the Labour Law governing the recruitment of expatriates are summarised below. Article 18 of the Labour Law stipulates that an employer is prohibited from hiring non-Omani workers unless the employee has obtained a permit from… Continue reading Oman New Expat Recruitment Rules...
UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued the Federal Law on ‘Netting’, its provisions shall apply to all qualified financial contracts and netting agreements specified under this law which are entered into by any person in the state. The law seeks to strengthen the legislative framework for the settlement of… Continue reading UAE issues Federal Law No.10 of 2018 on ‘Netting’...
A landmark law that will allow foreign investors to own 100 percent of companies in the United Arab Emirates, limited to specific industries, will be fully implemented by the end of 2018. The UAE Cabinet decision approved on May 20th, 2018 is the latest in a string of the legislative developments aimed at stimulating economic… Continue reading The UAE Foreign Direct Investment Law...