Earlier this year Saudi Arabia issued a historic new Bankruptcy Law (Saudi Arabia Royal Decree No. M5/1439 and Saudi Arabia Cabinet Decision No. 264/1439), the Kingdom’s Council of Ministers has adopted the new law’s Implementing Regulations in Saudi Arabia Cabinet Decision No. 622/1439 which was published in the Official Gazette, Issue 4744 on September 4,…
This country-specific Q&A, written by Jimmy Haoula and Tyne Hugo, provides an overview to bribery & corruption law in the UAE. The Guide covers the definition of bribery, regulation, compliance, liability and enforcement as well as insight and opinion and any upcoming legal changes planned for their respective country UAE_-Bribery-Corruption
Abstract The implementation of VAT in the UAE left many registrants under the VAT laws asking questions, especially when it first came into operation. Now, several months down the line there are still some key issues that are not easily deciphered. Luckily, there is an avenue to answer some of these issues where clarity is…
Oman laws reflect the fact that it is an Islamic country. Local traditions, customs, laws and religions shall be respected at all times and it is important to be aware of your actions to ensure that they don’t offend. The new Oman Penal Code, promulgated by the Royal Decree No. 7/2018, came into effect recently…
A new anti-harassment law in Saudi Arabia has significant implications for employers in the Kingdom. Marc Saroufim, Head of Corporate in Saudi Arabia at BSA Ahmad Bin Hezeem & Associates LLP examines key considerations. Read full article here
Brexit was a decision that shook the financial world. On June 23rd 2016, a sliver of a majority voted for the United Kingdom to exit the European Union (EU). The schism caused consternation, and the possible impacts of such a move saw the GBP plummet 10% the day the news came to light. Clarity has…
Nadim Bardawil, Senior Associate of DIFC-headquartered BSA Ahmad Bin Hezeem & Associates weighs up incubator programmes and legislative pressures chasing fintech development. The United Arab Emirates (UAE) continues to position itself as a base for businesses involved in cutting-edge technology, ranging from artificial intelligence and robotics, to blockchain integration and driver-less vehicles. The UAE does…
Federal Law No. 20/2016; Cabinet Decision No. 5/2018; Cabinet Decision No. 6/2018; Federal Law No. 5/1985; Federal Law No. 11/1992; Federal Law No. 18/1993 Since the introduction of UAE Federal Law No 20/2016, the legal regime applicable to the mortgage of movable property in the UAE, its creation, perfection, priority and enforcement, has substantially changed.…
BSA’s Rima Mrad and Nadim Bardawil contribute to the UAE Chapter of the ICLG Guide to Data Protection 2018. The Guide covers relevant legislation and competent authorities, definitions, territorial scope, key principles, individual rights, registration formalities and prior approval, appointment of a data protection officer and appointment of processors. Read the full chapter here.
1. Is a local partner required in any part of the construction process? A local partner is not required in any part of the construction process. As a matter of fact, article 8 of the Saudi Foreign Investment Law (SFIL) provides that a foreign firm (wholly owned by foreign investor(s)) licensed under the SFIL may…