Benjamin Filaferro, Author at LexisNexis Middle East

Bahrain: Civil Aviation Regulation Law Amendments Approved

24/02/202224/02/2022
by Benjamin Filaferro

Al Watan, 21 February 2022: Bahrain’s King has approved and issued Bahrain Law No. 4/2022 amending the Civil Aviation Regulation Law promulgated by Bahrain Law No. 14/2013.

Under Article 1 of Bahrain Law No. 4/2022, the definitions of civil aviation affairs, national aircraft and unit or investigation unit contained in Bahrain Law No. 14/2013 will be replaced wherever they appear with

‘Civil Aviation Affairs: The body entrusted with the authorities, competencies and powers related to civil aviation and represented by the Undersecretary for Civil Aviation Affairs.

National Aircraft: An aircraft registered in the National Aircraft Registry.

Unit or Investigation Unit: The unit for investigating accidents and dangerous incidents of aircraft established under Article 90 of this law’. For full story, click here.

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News developments

UAE: Income Tax is Not Going to be Introduced

24/02/202224/02/2022
by Benjamin Filaferro

Arabian Business, 21 February 2022: The UAE’s Minister of State for Foreign Trade and Minister in charge of Talent Attraction and Retention has announced an income tax is not going to be introduced.

They said the idea is not being discussed at all.

They made the announcement just weeks after the authorities announced a general corporation tax was going to be introduced.

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News developments

Saudi Arabia: Legal Practice Law Amended

21/02/202221/02/2022
by Benjamin Filaferro

Saudi Gazette, 18 February 2022: Saudi Arabia’s Justice Minister has announced the Cabinet has approved proposed amendments to the Kingdom’s Legal Practice Law.

The amendments specify new conditions for foreign law firms in Saudi Arabia.

They create a regulatory framework for foreign law firms and include a number of conditions which foreign offices must meet to obtain a licence to practice the profession in the Kingdom.

In addition, they include a number of provisions which will contribute to improving the efficiency of the profession.

The amendment reduces the period of experience required to obtain a lawyer’s licence in the Kingdom from three to two years.

The rule which allowed unlicenced agents to plead has also been repealed.

This move is aimed at protecting the legal profession, improving its standards and developing the control of professional obligations and responsibilities.

There are also procedures for filing and reviewing disciplinary cases, boosting the principles of integrity and transparency and ensuring the necessary guarantees are provided.

They are aimed at developing and supporting the law profession in the country.

The Justice and Commerce Ministries and Saudi Bar Association have been involved in the drafting of the amendments.

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News developments

UAE: National Crypto Licencing on the Way

21/02/202221/02/2022
by Benjamin Filaferro

Arab News, 17 February 2022: According to media reports, the UAE authorities are preparing to issue federal licences to Virtual Asset Service Providers by the end of the first quarter of this year.

They will be issued to attract key players in this field to the country.

The Securities and Commodities Authority is in the final stages of amending legislation to allow Virtual Asset Service Providers to set up.

They will be responsible for regulatory oversight of these companies but will work with the country’s Central Bank.

Local financial centres will be able to establish their own day-to-day licensing procedures.

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News developments

Egypt: FinTech Law Approved

21/02/202221/02/2022
by Benjamin Filaferro

Arab News, 16 February 2022: Egypt’s President has approved a new FinTech Law.

Under the Law, the country’s Financial Regulatory Authority is now the sole licensor and regulator of companies in this field.

The Law will also regulate various digital financial solutions, including robo-advisory, nano-finance, insurtech and tech-enabled consumer finance.

The President also approved the Unified Budget Act. This makes it mandatory for the Government to be more transparent on public finances.

Under the Law, the Government will also have to present annual medium-term budgets and tax strategies to the House of Representatives and set spending limits for each Ministry.

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News developments

UAE: Conditions for Employing Children Announced

17/02/202217/02/2022
by Benjamin Filaferro

Alroeya, 14 February 2022: The UAE’s Human Resources and Emiratisation Ministry has announced the conditions for the employment of children.

Under Federal Decree-Law No. 33/2021, the employment of children is banned.

Work permits are not granted to any Emirati or an expatriate resident who are considered a minor.

The Law allows minors aged between 15 and 18 to work, provided there is an official work permit from the Ministry.

Employers wanting to employ children between 15 and 18 must have the written consent of the minor’s guardian, or the individual who has the guardianship.

They also must have a certificate of medical fitness for the work which has been issued by the relevant medical authorities.

In addition, children must not be employed from 7pm to 7am.

Children must also not be employed in industrial projects or in dangerous or harmful work.

They should work more than six hours a day and they should have one or more breaks.

They must not be assigned additional working hours or kept in work after their scheduled hours and must not work on rest days. For full story, click here.

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News developments

Saudi Arabia: Commercial Concealment Deadline Will Not be Extended

16/02/202216/02/2022
by Benjamin Filaferro

Saudi Gazette, 15 February 2022: The National Programme to Combat Commercial Concealment has announced the deadline to comply will not be extended.

The deadline is 16 February this year.

The compliance deadline was previously extended to 16 February 2022 on 23 August 2021.

Those who do not comply after this date will be jailed for up to five years and/or fined up to five million Riyals.

Illegal assets and funds of those involved in these offences will also be confiscated. Also reported in Al Riyadh on 14 February 2022. For full story, click here.

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News developments

Phoenix Advisors Ltd participates as a sponsor at the LexisNexis Women in Law Awards

15/02/202215/02/2022
by Benjamin Filaferro

LexisNexis Middle East are pleased to announce that Phoenix Advisors Ltd will be participating as an Awards Sponsor at the first LexisNexis Women in Law Awards being held on 23 February 2022.

The Women in Law Awards aim to celebrate women’s accomplishments and innovation in the legal field in the Middle East region. The Awards also set out to recognise the organisations that promote women and gender equality in their teams.

We hope you will join us for this amazing event on 23 February 2022 at the Westin Dubai Mina Seyahi Beach Resort & Marina, UAE. For more information, visit: https://www.lexisnexis-womeninlaw.com/.

News developments

Bahrain: First Golden Visa Issued

15/02/202215/02/2022
by Benjamin Filaferro

The National, 14 February 2022: The chairman of the Lulu Retail Group has become the first recipient of Bahrain’s new golden visa for foreign nationals.

The UAE-based Yusuff Ali was handed the visa in a ceremony attended by Bahrain’s King Hamad and Crown Prince and Prime Minister Salman bin Hamad. Lulu, based in Abu Dhabi, is a major employer in the Gulf with more than 50,000 staff.

Under previous rules, Bahrain residents could only get a renewable visa tied to their employment status.

A golden visa allows them to extend the visa for an indefinite period and provide a residence permit for close family members.

To qualify, a person must have lived in Bahrain for at least five years and earn an average salary of at least 2,000 Bahraini dinars ($5,306) a month.

Retirees, talented people who fit certain criteria and those who own real estate above a certain value can also apply. There are 11 Lulu stores across Bahrain,

The Golden Residence Permit decision Bahrain Decision No. 20/2022 has been issued on granting entry visas and golden residence permits to foreigners.

Under Article 8 of Bahrain Decision No. 20/2022 the permit can be cancelled if the holder can not prove that they stayed in the country for 90 days within a year, if the continuation of their stay in the country could cause harm to security, public order, or national interests, or if it is proven that they have obtained the residence permit based on false information or incorrect documents, and if they have violated any of the provisions related to the Foreigners Law 1965.

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News developments

Qatar: Fees for Investment and Trade Court Approved in Principle

14/02/202214/02/2022
by Benjamin Filaferro

The Peninsula, 10 February 2022: Qatar’s Cabinet has approved a draft Decision specifying the fees for lawsuits, requests and guarantees at the Investment and Trade Court.

The draft Decision has been approved as part of the implementation of the Investment and Trade Court Law.

It was promulgated by Qatar Law No. 21/2021.

They also approved a draft Decision amending Qatar Decision No. 73/2014 establishing the permanent committee to monitor fuel filling and storage stations in the country.

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