In brief Over the last few months, the United Arab Emirates (UAE) have made a few legislative changes in relation to the Ultimate Beneficial Ownership (UBO) regulations as well as the associated administrative penalties, with the issuance of: Under the previous Cabinet resolution, the main challenge that corporate entities and the authorities faced was in relation to identifying the UBO in entities that adopt complex structures and have multiple layers of ownership or that are…
In brief During 2023 we saw various changes to the UAE employment and labour law landscape continue apace, supporting the government’s objective of attracting and retaining business and talent in the country. These include the new alternative end-of-service benefits scheme, unemployment insurance scheme, changes to Emiratisation and more. In this article we set out a brief summary of the key developments that have taken place in 2023 and take a look ahead to 2024. In…
End of Service Gratuity, Proposed Changes to DIFC Employment Law, Unemployment Insurance and More In brief There have been a raft of developments to the UAE’s employment regime over the last few months as the UAE government ramps up initiatives to attract and retain talent in the country. We have set out below a summary of the legal and commercial updates and key considerations for employers to comply with the changes and minimize potential business…
In brief The recent issue of the Kingdom of Saudi Arabia’s (KSA) official gazette published in early June 2023 includes the Resolution No. 1321/1444 of 6 June 2023 (“Resolution”) issued by KSA’s Minister of Finance. The resolution adopts: The Resolution follows the liberalization of the dispute resolution regime in KSA, specifically allowing for broader use of arbitration in government contracts. General Framework The adoption by the KSA of the new Government Tenders and Procurement Law…
In brief With the pace of change in the UAE continuing to accelerate, the UAE authorities announced in July 2023, via Twitter, an expansion to the categories of companies that are subject to the Emiratisation quota requirements. This latest development further evidences the country’s commitment to increasing the numbers of UAE national employees employed in the private sector. The law supporting the announcement is not yet officially available so this article sets out what we…