ADGM SPV
A Special Purpose Vehicle (SPV) is a type of company set up for a specific purpose. It allows shareholders of the controlling company to own assets (or liabilities) at arm’s length, whilst limiting the controlling entity’s exposure.
UAE Announces Corporate Tax Exemption for Small Businesses
The Small Business Relief Law was issued in accordance with Article 21 of the Corporate Tax Law, which allows for a taxable person that is a resident person to elect to be treated as not having derived any taxable income.
The United Arab Emirates Introduces a New Corporate Tax System
On January 31, 2022, the UAE Ministry of Finance announced the introduction of a federal corporate tax system applicable to corporate profits generated during financial years beginning on or after June 1, 2023. The corporate tax system introduced is one of the most competitive regimes in the world, designed to encourage startups.
Moral Harm in the Middle East: Charting New Territory for Commercial Arbitration
Joseph Chedrawe and Karl Touma collaborated on writing an article about the Charting New Territory for Commercial Arbitration in the Middle East.
G20 Countries Seek Never-Before-Seen Global Tax Reform in Ambitious Initiative
Finance Ministers of the G20 countries have finalized a framework for the implementation of the most ambitious global tax reform since the beginning of the 20th Century.
DED Dubai – Foreign Direct Investment
Dubai DED issues list of activities for which 100% foreign direct investment is allowed and the requirement for a local agent of branches is removed.
Economic Substance Regulation Update Client Alert
The UAE Ministry of Finance recently issued two new templates regarding the new notification and reporting obligations related to the Economic Substance Regulations.
COVID-19: Impacts and Solutions
After two major financial crises in 1929 and 2008, the world is currently facing another economic crash due to the COVID-19 outbreak.
UAE Ministerial Decisions on the Relationship between Employers and Expat Employees amid COVID-19 Pandemic
This alert offers our clients and readers a direct insight on the UAE Ministry of Human Resources and Emiratization’s initiative to organize the relationship between employers and expat employees in the private sector during the COVID-19 pandemic.
The Legal Impact of COVID-19 on the Business Market
In the world of business, the impact of the COVID-19 pandemic has a direct effect on endurance, whether by interrupting supply chains, causing cross-border complications or affecting the ability of companies to keep operations afloat.