GCC VAT Agreement Introduction Globally the VAT system has been around for a long time. However, for the most part, Arab countries have been operating tax-free in that respect. Over 160 countries around the world have adopted the indirect tax method to reduce the fiscal deficit and facilitate a steady…
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A Closer look at Bankruptcy law in China post - 2022 The Bankruptcy Law in China consists of 136 articles apply to any or all types of insolvent enterprises. That is whether it is state-owned, privately owned, or by the foreign investment enterprises and other financial institutions. China enacted the…
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Dubai Science Park City Freezone 1. What law established this freezone? This freezone was established by Dubai Law No. 1/2000 issued on 29 January 2000. 2. What are the main internal regulations governing this freezone? The regulations governing the Dubai Creative Clusters (DCC) were the Dubai Technology and Media Free Zone Companies…
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UAE's Accession to Madrid System in December 2021: Understanding the implications The Government of the United Arab Emirates has declared its move to join the Madrid Protocol System, which will come into force on the 28th of December 2021. The move indicates the UAE becoming the 109th country globally and…
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Limitation of Liability in Maritime Matters The existence of vessels trade generally includes them in mishaps that result in claims. Personal injury, property damage (such as harm to vessels and beacons on the seashore and coast setups), shipment damage, and other claims may be made. In a broad sense, any…
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Manufacturing, Importation, Distribution of Pharmaceuticals and Medical Devices in Saudi Arabia 1. What are the main laws governing the manufacture, importation, distribution and sale of pharmaceuticals in the Saudi Arabia? Pharmaceutical Establishments in Saudi Arabia are governed by the Law of Pharmaceutical Establishments and Preparations issued by Saudi Arabia Royal…
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Enforcement of Arbitral Awards in the UAE Enforcement is agreeing with a contract with an appropriate dispute resolution mechanism. The UAE introduced federal Law No.6 of 2018 on Arbitration in 2018. It clarifies the procedures to challenge the enforcement of an arbitral award before the onshore UAE courts. The arbitration…
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A Guide Distinguishing the English Common Law system and the UAE Civil Law “The legal system is often a mystery, and we, its priests, preside over rituals baffling to everyday citizens.” - Henry Miller Introduction: Generally, the judiciary is divided into two systems, one is the Common Law system and another…
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Doing Business in Israel - 2022 Introduction Q1. What are the recent developments affecting doing business in Israel? After Israeli high-tech companies on public markets, there was increased activity on the IPO scene in 2019, with 4 Israeli tech companies choosing to go public on NASDAQ. In 2019, eventual funding for Israeli start-ups also increased, Israel's largest private-to-private…
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Explaining Cryptocurrency's Ransomware Problem (USA) Introduction A hacker gains access to a company's computer system and encrypts its data, effectively halting operations. The data is then held captive by the hacker until a ransom is paid. If the demand is for Bitcoin or another cryptocurrency, the victim must open a cryptocurrency…
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Economic and Fraud Provisions in the Middle East “There is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open…
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Abu Dhabi Airport Freezone 1. What law established this freezone? The following laws which established the Abu Dhabi Airport Business City are: Abu Dhabi Executive Council Decision No. 61/2010 which gives the Sky City the authority to grant free zone status to the properties owned by the Abu Dhabi Airports…
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UАE Personаl Status Lаw Introduction The United Аrаb Emirаtes is а culturаl meltdown with more thаn 200 nаtions, аnd the pаst people аccounted for more thаn 90 percent of the populаtion. The UАE government continues to implement meаsures to bring а more аttrаctive environment for ex-pаts, in line with its…
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Bounced Cheques no longer a Criminal Offense Post 2 January 2022 “The moment I write out a cheque, it’s an asset I have written off” – Shiv Nadar. The UAE being a business hub with a growing economy, cheques are one of the common forms of payments and a technique…
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