Insight Category: Reports
Direct Distribution 1.May a foreign supplier establish its own entity to import and distribute its products in your jurisdiction? A foreign supplier seeking to import and distribute its products in the UAE may do so either by: • entering into a commercial agency agreement with a UAE national or a company wholly owned by UAE… Continue reading Distribution & Agency: UAE Chapter 2019...
Insurance Financial Reporting Standards (IFRS) 17 represents a new and unprecedented international reporting and disclosure regime for the insurance industry [1]. IFRS 17 takes effect in January 2021 [2]. There have been many publications and a wealth of information on the reporting and disclosure standards in IFRS 17 offering guidance to the insurance industry, many… Continue reading IFRS 17 & UAE Regulatory Landscape...
Federal Law No.2 of 2019 – Using IT and Telecommunications in the Healthcare Sector Further to our recent Regulatory Alert “UAE Legal Update – Regulatory Alert Healthcare Federal Law No.2 of 2019 – Using IT and Telecommunications in the Healthcare Sector” We now set out further details of the Law in this Regulatory Alert (2).… Continue reading UAE Legal Update – Regulatory Alert (2) Healthcare & Data Privacy...
On 04 April 2018, the Minister of Human Resources and Emiratization issued a groundbreaking Ministerial Decision No. 212 of 2018 on the regulations relating to the employment of UAE nationals in the private sector. This decision replaced Ministerial Decision No. 293 of 2015 which set the rules and procedures for the employment of UAE nationals… Continue reading New Rules Regulating the Employment of the UAE Nationals in the Private Sector...
The Chairman of the Abu Dhabi Judicial Department, H.H Mansour Bin Zayed Al Nahyan issued Decision No.25 (the “Decision”) on the 27th of September 2018 to regulate tenancy committees, disputes and procedures in the Emirate. The purpose of the Decision is to expedite tenancy dispute proceedings and to provide speedy resolutions: Under the Decision, the… Continue reading New Abu Dhabi Tenancy Decision: What You Need to Know...
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… Continue reading Clarifications Where the VAT Law Seems Unclear...
It all started when Federal Law No.2 of 2015 was enacted, amending the legal regime that governs local and foreign companies under Federal Law No.4 of 1984. These changes have impacted on several corporate practices including the governance of private and public companies, their legal structure, dissolution, liquidation, mergers and acquisitions, and applicable penalties. As… Continue reading UAE Corporate Law: A shifting Landscape...
Overview The article examines the material legal process involved when undertaking a corporate acquisition transaction in Saudi Arabia (Acquisition Transaction). The general process an Acquisition Transaction undergoes shares several similarities with similar types of transactions in other jurisdictions. Notwithstanding, the prevalent regulations and overriding legal system unique to KSA must be taken into consideration and… Continue reading Introduction to Company Acquisitions in Kingdom of Saudi Arabia...