UAE Chapter on Sanctions

Overview 1.1 Describe your jurisdiction’s sanctions regime The United Arab Emirates (“UAE”) has a complex sanctions regime based on a variety of sources. Sanctions are based on diverse interests, including political, economic and national security interests. Due to the rapidly changing nature of such interests, sanctions are susceptible to significant and constant changes. Sanctions in…

Dubai Government Expands Opportunities for the Private Sector

Dubai government expands opportunities for the private sector, as it restricts the expansion of state-related entities. Dubai is controlling the number of state-related entities to help support the expansion of the private sector and its economic growth. To assist with the governments already initiated attempts to reevaluate the role of the public and private sectors,…

Economic Substance Rules

UAE Companies – How Your Business May Be Affected If you are operating an onshore or offshore entity in a “no or only nominal tax jurisdiction” (referred to hereinafter as a “noon”), which amongst others, holds shares or licenses intellectual property and receives operational income from other jurisdictions this article should be important to you…

Key Considerations For Multinational Business Looking to Setup in the UAE

Q1: Key considerations on how a multinational business can set up as a group in the region The United Arab Emirates (“UAE”) economy continues to flourish and be attractive to businesses from around the world. The potential options available to foreign multinational companies to undertake business or commercial activities in the UAE are set out…

Is There a Specific Legislation Regulating E-Signatures in the UAE?

UAE Federal Law No.1 of 2006 concerning electronic transactions and commerce (e-commerce law) regulates electronic signatures (e-signatures) in the UAE. The eCommerce Law recognises 3 types of e-signatures: 1. Protected e-signatures (Article 17 of the E-Commerce Law) This category of e-signatures is the most legally protected. Protected e-signatures are accepted as valid and have probative…

Investing in KSA

Saudi Arabia has become a key investment hub over the years as it seeks to diversify its oil-dependent economy. Abdullah Alanezi, Partner and Lujain Al Yousef, Associate, consider key aspects involved in setting up a business in the Kingdom. Over the years the Kingdom of Saudi Arabia (KSA) has become a place of interest for…

Cartels: UAE Chapter

1. What is the relevant legislative framework? The laws and regulations governing antitrust and competition (cartel) in the United Arab Emirates are as follows: (a) The Federal Law No. 4 of 2012 on the Regulation of Competition (“UAE Competition Law”), which has been in force since 23 February 2013 and which aims – according to Article…

BSA and SAGIA Promote Foreign Investment in Saudi Arabia Throughout the UK and Ireland

The Saudi Arabian General Investment Authority (SAGIA), the authority for attracting, developing and enhancing international investment in Saudi Arabia, accompanied UAE-based law firm BSA Ahmad Bin Hezeem & Associates LLP (BSA) in hosting a series of business seminars in the United Kingdom and Ireland, to highlight key investment opportunities in Saudi Arabia. Titled ‘Doing Business…