News developments Archives - LexisNexis Middle East

UAE: Non‑Commercial Sports Bodies Get Corporate Tax Break

13/02/202613/02/2026
by Hannah Gutang

Gulf News, 9 February 2026: UAE has introduced a corporate tax exemption for eligible non‑commercial sports entities to boost sector growth and transparency.

The Ministry of Finance has issued UAE Cabinet Decision No. 1/2026 to exempt certain sports organisations that operate on a non‑commercial basis from corporate tax, aligning the regime with international best practice and supporting the UAE’s ambitions as a global sports hub.

Exemptions apply to international sports entities, domestic sports bodies, and specified ancillary entities whose primary purpose is to promote, organise, manage, or develop sport at a regional or international level, provided they are recognised by the competent sports authority.

Qualifying organisations must confine activities to their sporting objectives, ensure all income and assets are used solely to advance those objectives or cover necessary expenses, and avoid any private benefit to members or founders except where beneficiaries are approved public‑benefit or government‑linked bodies.

To access the relief, entities must apply to the Federal Tax Authority with supporting documentation so that eligibility and ongoing compliance can be verified; this process is intended to preserve oversight while directing the exemption to genuine non‑profit sports development.

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Saudi Arabia: Commerce Ministry Issues Nearly 2,000 Licences for Ramadan Sales

13/02/202613/02/2026
by Hannah Gutang

Saudi Gazette, 9 February 2026: Saudi Arabia’s Ministry of Commerce has issued 1,987 licences for Ramadan sales and promotional offers across the Kingdom

The Ministry of Commerce has announced the issuance of 1,987 licences authorising discounts and promotional offers for the Ramadan sales season, which began on 1 February and will continue until after Eid al‑Fitr. The licences apply to both commercial establishments and online stores across the Kingdom.

According to the Ministry, the approved promotions cover more than five million products, including food and consumer goods, electrical and electronic appliances, perfumes and cosmetics, clothing and fashion items, and other Ramadan and Eid essentials.

Authorities also urged online shoppers to place orders early in anticipation of peak demand in the parcel‑delivery sector as Ramadan approaches. The Ministry, along with the Transport General Authority and the E‑Commerce Council, highlighted that early ordering improves shipping flow, reduces delays and enhances consumer experience.

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Oman: Tourist VAT Refund Scheme Announced

13/02/202613/02/2026
by Hannah Gutang

Oman Observer, 5 February 2026: Oman’s Tax Authority has said the government will implement a VAT refund service for tourists once it has agreed costs and refund percentages with the companies that will operate the service.

The announcement was made during the Tax Authority’s first media briefing, which reviewed recent performance indicators and upcoming plans for the tax system. The Tax Authority said the tourist VAT refund service will be rolled out only after agreements with service providers have been finalised, and no launch date was provided in the reporting.

In the same briefing, the Director-General of Operations and Tax Services reported that the number of registrants rose in 2025 compared with 2021, including 88% for income tax, 120% for VAT, and 222% for excise tax. The authority also said it was working on advanced systems to strengthen efficiency and compliance, including electronic invoicing, the “Ta’akad” application, a tax risk management system, and the use of AI technologies. It further reported that Oman had signed about 39 effective double taxation agreements up to 2025.

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Dubai: Tokenised Property Resale Opened in Next Phase

13/02/202613/02/2026
by Hannah Gutang

Gulf News, 9 February 2026: Dubai moves its real estate tokenisation project into a trading phase, allowing resale of property stakes through a controlled secondary market.

Dubai Land Department announces Phase II of its Real Estate Tokenisation Project, shifting the work from pilot testing to operational execution. The new phase will enable resale activity in the secondary market, with trading set to begin on 20 February.

The pilot phase had been launched in March under the REES Real Estate Innovation Initiative and had tested the regulatory, legislative and technical set-up for tokenising real estate assets on title deeds. The pilot had been run with the Virtual Assets Regulatory Authority and other partners, and the department said it confirmed tokenisation could work within a regulated environment.

Under Phase II, around 7.8 million real estate tokens will be made available for trading as part of a controlled framework, while authorities will monitor market functioning, governance, transparency and investor protection under real trading conditions. Dubai Land Department said future expansion will be guided by data and coordination with regulators, and it is working with VARA and technical partners to develop standards for later phases. Authorities are also studying whether they could bring in more participants and onboard additional platforms, subject to regulatory approval and performance reviews.

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UAE: State Security Launches Confidential Reporting Service

05/02/202605/02/2026
by Hannah Gutang

Gulf News, 2 February 2026: The UAE has introduced a new confidential reporting mechanism aimed at strengthening national security by enabling the public to report threats anonymously.

The UAE State Security Department has launched a confidential security reporting service allowing citizens and residents to submit information on security‑related concerns without disclosing their identity. The initiative was unveiled under the slogan “State Security is Everyone’s Responsibility” and is designed to support early detection of risks to public safety and national unity.

According to the authorities, the service covers a wide range of matters, including extremist activity, suspicious behaviour, espionage, information leaks, threats to public order, and insults or defamation targeting the state and its symbols. Reports may be made at any time through several official channels, including a toll‑free number, a dedicated website, a mobile application and an SMS service.

The State Security Department emphasised that confidentiality and data protection sit at the core of the initiative. Individuals may submit reports anonymously, with assurances that personal data will be handled securely and in line with recognised privacy standards.

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Sharjah: New Resolution Issued to Regulate Economic Activities

05/02/202605/02/2026
by Hannah Gutang

Gulf News, 28 January 2026: Sharjah’s Executive Council has issued a new resolution regulating economic activities in the emirate, aiming to strengthen its investment climate and support sustainable economic growth.

The decision had been taken during the Council’s regular meeting. Officials reviewed the performance of government departments and their development plans to enhance service quality for individuals and institutions.

The Council also formed a Legislative and Legal Affairs Committee to oversee legal matters. The resolution regulating economic activities seeks to promote Sharjah’s economic position, enhance competitiveness, attract national and foreign investment, and establish a supportive environment for business growth.

Additional details from parallel reporting indicate that the resolution outlines legal provisions governing the role of the Sharjah Economic Development Department, rules for licensing establishments, and obligations for licence holders—creating a structured framework that will guide business operations and strengthen sustainable economic development.

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Saudi Arabia: CMA Fully Opens Capital Market to Foreign Investors

05/02/202605/02/2026
by Hannah Gutang

Saudi Gazette, 1 February 2026: Saudi Arabia has taken a major regulatory step by fully opening its capital market to all categories of foreign investors, reshaping access to the Kingdom’s main stock exchange.

Saudi Arabia has approved a new regulatory framework allowing all foreign investors to access the capital market directly, and the changes took effect on 1 February. The Capital Market Authority announced that overseas institutions, funds and other foreign entities could now trade directly on the Tadawul All Share Index without meeting prior qualification requirements.

The reform abolished the long‑standing Qualified Foreign Investor regime and removed the regulatory structure governing swap agreements, which had previously limited non‑resident investors to economic exposure rather than direct share ownership. Under the new framework, foreign investors are permitted to invest directly in shares listed on the main market, aligning Saudi Arabia’s access rules more closely with international standards.

The CMA confirmed that foreign ownership limits remained in place. Non‑resident foreign investors, excluding strategic investors, are prohibited from holding 10% or more of any listed company, while total foreign ownership in a listed issuer is capped at 49%. The authority stated that these limits were intended to balance market openness with stability and regulatory oversight.

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QFC: Secured Data Protection Adequacy with ADGM and DIFC

05/02/202605/02/2026
by Hannah Gutang

Qatar Tribune, 30 January 2026: The Qatar Financial Centre has secured reciprocal data protection adequacy recognition with Abu Dhabi Global Market and the Dubai International Financial Centre, easing lawful cross‑border data transfers between the three financial hubs.

The Qatar Financial Centre announced that it was included in the data protection adequacy lists of both ADGM and DIFC, following a comprehensive assessment of its data protection framework, enforcement mechanisms, and alignment with international best practices. In return, the QFC recognised the adequacy of the data protection regimes in the two UAE financial free zones, establishing mutual regulatory trust.

The adequacy recognition means that personal and sensitive data may now be transferred between entities operating in the QFC, ADGM, and DIFC without the need for additional transfer safeguards or contractual mechanisms, provided transfers comply with the applicable local data protection regimes. The review process was supported by specialist legal firms and reserved for jurisdictions demonstrating consistently high standards of data protection.

Regulators stated that the move will reduce compliance costs and administrative burdens for businesses operating across the three centres, while maintaining strong rights, accountability, and enforcement protections for data subjects. The initiative is expected to support digital trade, regional data‑driven business models, and shared services arrangements within the Gulf’s financial services ecosystem.

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Oman: Labour Ministry Mandates Professional Classification for Industry Roles

05/02/202605/02/2026
by Hannah Gutang

Oman Observer, 29 January 2026: Oman’s Ministry of Labour have announced the rollout of a mandatory professional classification and licensing system for industrial sector occupations, tying workforce accreditation to work‑permit issuance.

Under the new framework, workers in designated industrial occupations will be required to obtain professional classification certificates or professional practice licences through the official accreditation platform. The Ministry have stated that the phased implementation will begin on 9 February 2026, while full enforcement will take effect from 1 May 2026. From that date, the Ministry will not issue or renew work permits unless the required professional accreditation has been obtained for the listed occupations.

The classification track covers professional and technical roles such as factory managers, operations and maintenance managers, analytical chemists, risk analysts, technicians, and designers, while the licensing track applies to skilled operational roles including machine operators, food industry technicians, carpenters, and stone and marble workers. The system applies to both Omani and expatriate workers employed in the relevant positions.

The Ministry urged employers to complete registration and accreditation procedures within the prescribed timelines to avoid disruptions to employment or operational activities.

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Kuwait: Central Bank Cuts Daily Cash Cap at Exchange Firms

05/02/202605/02/2026
by Hannah Gutang

Arab Times, 2 February 2026: Kuwait’s central bank has tightened controls on cash transactions by sharply reducing the amount exchange companies may accept from customers each day.

The Central Bank of Kuwait lowered the maximum daily cash amount that exchange firms may accept from a customer to KD 1,000, down from the previous ceiling of KD 3,000. The restriction applies to all customer dealings, including foreign remittances and the buying or selling of currencies, and took effect as part of strengthened supervisory measures.

Under the directive, exchange companies are prohibited from accepting cash payments exceeding the new limit, or its equivalent in foreign currency, from any customer in a single day. The regulator clarified that the decision does not impose a cap on the overall value of transfers or currency transactions. Any amount above the KD 1,000 cash threshold must instead be settled through bank account deductions or other non‑cash payment methods approved by the central bank.

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