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UAE: Anti-Corruption Law Amendments Approved

The United Arab Emirates’ (“UAE”) President His Highness Shaikh Khalifa Bin Zayed Al Nahyan has Decreed amendments to the country’s 1987 Penal Code (Federal Law No. 3 of 1987) to strengthen and make the law more wide-ranging.

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NEW UAE FDI LAW ALLOWS 100% FOREIGN OWNERSHIP

Federal Decree-Law No. (19) of 2018:  Issued by his Highness Sheikh Khalifa bin Zayed Al Nahyan, the new Foreign Direct Investment (“FDI”) law, Federal Decree-Law No. (19) of 2018 (“FDI Law of 2018”), is now in force. The new law is anticipated and expected to by attract and encourage a greater number of foreign investments into the United Arab Emirates (“UAE”). 

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UAE Issues new Law to Combat Money Laundering and Terror Financing

His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued an official Decree for the creation of a Financial Information Unit and a National Committee to combat money laundering, the financing of terrorism and other illegal organizations. Both the Information arm and the Committee would be set up within the UAE Central Bank.

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Bahrain Applies New Value Added Tax (VAT) Rate

The parliament of The Kingdom of Bahrain has approved the introduction of Value Added Tax. The Value Added Tax (VAT) Law in Bahrain has been issued under the Royal Decree No. (48) of 2018 on October 6, 2018 and approved by the upper house. 

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Online Trademark Renewal System in Kuwait

Kuwait Ministry of Commerce and Industry (MoCI) has announced that the Department of Trademarks and Patents has upgraded its trademark renewal system. The new system has resulted in a switch from manual filing of renewal applications to an online system. 

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ABU DHABI ENABLES DUAL LICENSES TO FREE ZONE FIRMS

The Abu Dhabi Department of Economic Development (“ADDED”) announced a decision enabling companies to operate in the capital’s free zones as well as in the mainland simultaneously. The decision is aimed at reducing the cost of doing business in order to attract foreign investment to the UAE.

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TLG BECOMES A CHANNEL PARTNER TO SHAMS FREE ZONE

In addition to being an Agent of the Jebel Ali Free Zone Authority (“JAFZA’) and the Ras Al Khaimah International Corporate Center (“RAK ICC”), TLG’s Corporate and Commercial Division is proud to announce that TLG has become an official Channel Partner to the Sharjah Media City Free Zone (“SHAMS Free zone”) located in the United Arab Emirates’ (“UAE”) cultural capital, the Emirate of Sharjah.

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UAE CYBERCRIME LAW AMENDED

Issued in August 2018 as Emiri Decree No. 02 of 2018 (“Cybercrime Law Amendment”), the new decree amends the United Arab Emirates’ (“UAE”) Federal Decree Law No. 5 of 2012 On Combating Cybercrimes (“Cybercrime Law”).

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BAHRAIN: INTRODUCTION OF THE NEW DATA PROTECTION LAW

The Kingdom of Bahrain (“Bahrain”) recently issued Law No. 30 on the Protection of Personal Data (“Law No. 30/2018”) which is due to come into effect one month after it's publication in the official gazette. The Kingdom’s law on the matter states that protection of personal privacy is among one of the primary constitutional rights of a person

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VAT TOURIST REFUND PROCESS OUTLINED

Previously, in April 2018, the United Arab Emirates’ (“UAE”) Federal Tax Authority (“FTA”) had announced its intention to make it possible for tourists to reclaim Value Added Tax (“VAT”).

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VAT IN THE UAE: CENTRAL BANK ISSUES NEW NOTICE

On 19th June 2018, the Central Bank of the United Arab Emirates (“UAE Central Bank”) issued Notice No. 157/2018 (“Notice 157/2018”) amending Appendix 2 of the Regulations

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POLICY CHANGES ADOPTED BY UAE CABINET

Chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates (“UAE”) and Ruler of Dubai

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The UAE's Sweeping New Reforms: Ten Year Visa(s) and 100% Foreign Ownership of Companies

On 20th May 2018, the United Arab Emirates’ (“UAE”) Cabinet discussed to allow one-hundred (100%) foreign ownership of onshore companies within the country and approved the rule granting ten (10) year visa(s) for investors, exceptional students, entrepreneurs, innovators and specialists including scientists, doctors

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Mandatory Licenses for Social Media Influencers in the UAE

According to the draft law by the United Arab Emirates’ (UAE) National Media Council (NMC), social media influencers who post content

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Yemen: New Ministerial Resolution No. 20 of 2018

The Legal Group Advocates & Legal Consultants (TLG) would like to inform our clients and associates that the Ministry of Industry & Trade in Yemen

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