Insight Category: Regulatory & Legal Updates
In response, Bradley answered; “The UAE has always done what it can to attract foreign investment; however the latest updates to the UAE Golden Visa will usher in a new generation and scope of foreign investment which will serve to boost the UAE’s global position as an investor-friendly business ecosystem. The newly implemented executive regulations… Continue reading UAE Golden Visa – Implication on the UAE Ecosystem...
The Dubai International Financial Centre (DIFC) – the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region – has published its Consultation Paper No. 2 of 2022, which proposes amendments to the Prescribed Company Regulations 2019. The consultation paper aims to consider amendments to the definitions of the “qualifying applicant”… Continue reading DIFC’s consultation paper to widen scope and offer clarity on establishing “prescribed companies”...
Dubai issued the Regulation of Virtual Assets law and established the Dubai Virtual Assets Regulatory Authority in March, aiming to establish a legal framework for businesses in the virtual assets space. Virtual assets are digital representations of value which can be traded, transferred or used as a form of payment. These include cryptocurrencies and non-fungible… Continue reading UAE’s new Virtual Assets Law: How does it work, what will it mean for businesses...
Since the implementation of Corporate Tax (CT) into the UAE was announced on 31 January 2022, there has been much excitement (good or bad) and curiosity about how it would apply and what it would entail. After little information has been available to stem these concerns, a Public Consultation Document on the UAE Corporate Tax… Continue reading Corporate Tax in the UAE...
In a recent edition of The Oath Magazine, Arsalan Tariq and Yasin Chowdhury offer commentary on the new CBO Financial Consumer Protection Regulatory Framework – a milestone for financial consumer protection and economic growth in the Sultanate. On 29 December 2021, the Central Bank of Oman (“CBO”) issued the Financial Consumer Protection Regulatory Framework (“FCPRF”)… Continue reading Oman raises the bar on consumer protection...
Post pandemic where the world has become more digital, the need for personal data protection legislation is felt more urgently than ever before. In the wake of this urgency, Oman has very recently promulgated the Personal Data Protection Law (“PDPL”) by Royal Decree No. 6 of 2022. As per the law, the Ministry of Transport,… Continue reading Data Protection in Oman: An enhanced framework...
تأسست BSA أحمد بن هزيم وشركاه للمحاماة في دبي في عام 2001، وتقدم خدمات التي تجمع بين المعرفة الشاملة للقانون المحلي مع النهج الحديث والتقدمي منذ ذلك الحين ونحن على انضم الشريك، الدكتور أحمد بن هزيم، مدير عام محاكم دبي السابق، وفتح المزيد من مكاتب في مختلف أنحاء الشرق الأوسط، والآن فرنسا وترسيخ حضورنا الإقليمي… Continue reading معلومات عنا...
A power of attorney is a legally binding document which, when properly executed, allows the receiver of the power of attorney (known as the agent) to act on behalf of the grantor in relation to their personal affairs, business decisions or legal representation. A power of attorney can be general in its scope or be… Continue reading Why Expats in the UAE should have a Power of Attorney...
As we are approaching the end of the first quarter of 2020, which for various companies marks the end of their fiscal year, shareholders and managers begin to plan their annual general meetings. At the same time, this also marks the deadline for the ratification of financial statements for corporate entities in the UAE formed… Continue reading Virtual Attendance of Shareholders and Board Meetings...
