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Legal Updates

30 Nov 2020

EU: Guidance issued on Cross Border Data Transfers

EU: Guidance issued on Cross Border Data Transfers The European Data Protection Board (EDPB) has issued guidance for compliance with the General Data Protection Regulations (GDPR) with the aim of protecting privacy rights of individuals regarding transfer of data across several jurisdictions. The Guidance aims to comprehensively lay down contractual,…

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29 Nov 2020

United Kingdom: New Immigration Rules

United Kingdom: New Immigration Rules The United Kingdom introduced changes in the Immigration Rules HC 813 on 22nd October 2020. A ‘Statement of Changes’ was issued to outline the key features and changes in the Government’s Points Based Immigration System. The changes are enumerated as follows: The changes will allow…

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26 Nov 2020

UAE: Cabinet Resolution Number 16 of 2020 updating the Commercial Companies Law

UAE: Cabinet Resolution Number 16 of 2020 updating the Commercial Companies Law A new Decree updating the Commercial Companies Law 2015 has been issued through Cabinet Resolution Number 16 of 2020. This amendment scraps the need for a UAE national as a sponsor and allows expatriate investors’ 100% ownership, effective…

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25 Nov 2020

100% Foreign Ownership for LLCs and PJSCs

100% Foreign Ownership for LLCs and PJSCs The UAE Government has recently announced a transformative Resolution that allows foreign investors to own 100% of Foreign Direct Investment Projects which implies that, the requirement to have an Emirati as a major stakeholder in the company, has been annulled. This change has…

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23 Nov 2020

International: World’s Largest Free Trade Agreement

International: World’s Largest Free Trade Agreement The Regional Comprehensive Economic Partnership was signed between fifteen Asia-Pacific nations to accelerate recovery of their economies that have been pillaged by the pandemic. The Agreement was signed at the annual summit of the Association of South Asian Nations (ASEAN) hosted by Vietnam. The…

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22 Nov 2020

Oman: Royal Decree Number 43 of 2020 recognizing the Organizational Structure of the Tax Authority

Oman: Royal Decree Number 43 of 2020 recognizing the Organizational Structure of the Tax Authority The Royal Decree Number 42 of 2020 was brought into effect by the Tax Authority of Oman and recognized the organizational structure thereof. It lays down that the Chairman of Tax Authority shall exercise the…

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