In recent years, mergers have become the primary agent for transformation and expansion within the legal industry. The objectives behind these mergers are largely aligned with firms aiming to achieve similar goals. There has been a considerable interest in mergers in the legal industry throughout the year 2022 and the… Read more
The UAE authorities have announced an extension to the deadline for employees to enroll in the national Unemployment Insurance Scheme. Previously, the deadline was set for the end of June, with fines to be imposed starting from July 1. According to a circular from the Ministry of Human Resources and… Read more
The UAE Ministry of Finance consistently introduces a series of new Ministerial Decisions under Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses. These decisions have a collective objective of bolstering the regulatory framework governing corporate and business taxation in the UAE. By offering clearer guidelines… Read more
The Ministry of Commerce and Industry (MOCI) issued Decision No. 82/2023, targeting small companies engaged in activities of private nature without employees, physical commercial premises, and without the need for regulatory approval from any authority other than the MOCI. This decree aims to provide support and incentives to such businesses.… Read more
The Kuwaiti Minister of Commerce and Industry amended under Resolution No. 60/2023 (MOCI Resolution) specific provisions of the Kuwait Companies Law No 1/2016 (“Law No 1/2016”). By virtue of the MOCI Resolution, provisions addressing companies’ spinoff were introduced. Under this note, we will explain the purposes of the MOCI Resolution,… Read more
I. An overview of money laundering A. Money laundering’s connection with financial transactions Countries throughout the world have passed laws criminalizing individual or organized criminal acts locally and internationally. These crimes generate illegal revenue and criminals feel the need to clean the revenue to appear legitimate. Therefore, criminals seek to… Read more
On 2 February 2022, the Federal Decree-Law No. (33) of 2021 on the Regulation of Employment Relationship (UAE Labour Law) came into force. The UAE Labour Law requires, pursuant to its article 68 (2), that all employers convert any existing employment on an unlimited term contract to a fixed term… Read more
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