Newsletter Archives - Page 204 of 244 - LexisNexis Middle East

Oman: Temporary Ban on Hiring Expats Extended to More Professions

04/08/201911/12/2019
by Benjamin Filaferro

Oman’s Ministry of Manpower has extended the temporary ban on hiring expats to four more professions in the private sector as part of the Omanisation strategy. The ban will be extended for another six months starting from 5 August 2019 and will be extended to certain professions in the fields of IT, accounting and finance, sales and marketing, management and human resources, insurance, media, the medical profession, airports, engineering, and roles that involve technicians. The ban was specified in Oman Ministerial Decision No. 73/2019.

UAE: New Work Permit Allowing Men Sponsored by a Family Member to Work

04/08/201911/12/2019
by Benjamin Filaferro

The UAE has a new work permit which allows men sponsored by a family member to work. While the General Directorate of Foreign Residency Affairs has previously allowed women working in professional jobs to sponsor their husband on a dependent visa, the husbands were not legally allowed to work. As a result women who had jobs in these categories often ended up living alone as sponsoring husbands who could not work was often an additional financial burden. This now looks likely to change.

Kuwait: Inspection Campaign Launched to Identify Violations to Safety Regulations

03/08/201911/12/2019
by Benjamin Filaferro

The Kuwait Fire Service Directorate (KFSD), Public Security Sector and Environment Public Authority have launched an inspection campaign to identify those violating safety regulations in the Qurain Market area. A number of warnings have been issued during the campaign, after violations of public safety were discovered in public markets and restaurants. Decisions will be issued to close down places where these violations could lead to serious dangers.

Weekly Spotlight: Changes Announced by the DIFC to Will Registration Rules for Non-Muslims

03/08/201911/12/2019
by Benjamin Filaferro

The DIFC has announced changes to will registration rules for non-Muslims, which will now accommodate all resident and investor assets across the whole of the Emirates, and assets held outside the UAE which will be effective from 1 July 2019.

Those wishing to take advantage of this change will be able to amend existing wills registered with the courts free of charge until 31 August 2019. The Wills Service Centre is a joint initiative of the Government of Dubai and the DIFC Courts which gives non-Muslims living and investing in the UAE the option to pass on their assets and or appoint guardians for their children, in accordance with the instructions in their Will.

Weekly Spotlight: All Entreprises Registered in Saudi Arabia to Pay VAT

28/07/201911/12/2019
by Benjamin Filaferro

The General Authority for Zakat and Income has confirmed that all enterprises registered to pay VAT, which have revenues from goods and services which exceed 40 million Riyals, should submit their tax return for June.

Enterprises with less than 40 million Riyals of revenues should submit their tax return for the second quarter of 2019 nine days after 31 July 2019.

However, the authority has stressed those with over the 40 million Riyals limit must submit their VAT return before the end of July 2019.

Kuwait to Issue Multiple Entry Visas to 400 Iraqi Businessmen

27/07/201911/12/2019
by Benjamin Filaferro

Kuwait plans to issue multiple entry visas to nearly 400 Iraqi businessmen following an agreement between the two countries, according to the Minister of Commerce and Industry and State Minister of Services Affairs Khalid Al-Roudhan. A special committee has been formed with Iraqi officials called the ‘White List’, and its activities will include issuing multiple entry visas to nearly 400 Iraqi businessmen. The plan is to have free markets operating between Kuwait and Iraq and discussions have reached an advanced stage in this area.

Egypt: Executive Regulations for the National Press Authority Law

27/07/201911/12/2019
by Benjamin Filaferro

Egypt’s Prime Minister has promulgated executive regulations for the National Press Authority Law, Egypt Law No. 179/2018. These regulations revoke the second part of the executive regulation of the Institutional Press and Information Regulation, Egypt Law No. 92/2016, and repeal anything which contravenes them. As a result of these developments, the National Press Authority will administer national press institutions, create a comprehensive inventory of all the press and national institutions, and establish a mechanism for monitoring and evaluating economic and other performance indicators for the national press. This Authority will also have a role in dispute settlement, training, pricing, and licensing of new media outlets.

UAE: Confirmation on Salary Requirements for All Expats Sponsoring Family

27/07/201911/12/2019
by Benjamin Filaferro

Salary and not job title is now the basis for residence visa applications for both male and female expats wanting to sponsor family members in the UAE, the Federal Authority for Identity and Citizenship (FAIC) has clarified. Some women had been told by authorities in Dubai that only certain professions were eligible to sponsor their families. An FAIC spokesperson has now stated all expats male or female can now sponsor their spouse or children, provided they earn a monthly salary of 4,000 AED or at least 3,000 AED and have accommodation supplied by their employer. A FAIC official explained that the reason for the confusion was that a government website still states the previous requirements because it has not been updated yet.

Weekly Spotlight: New Robo-Advisor Regulations Issued by the ADGM

21/07/201911/12/2019
by Benjamin Filaferro

Abu Dhabi’s Global Market Financial Services Regulatory Authority has announced it has issued new digital investment manager or robo-advisor regulations. These advisors or managers provide investment management services using algorithm-based tools and technology.

The Regulations cover the regulatory permissions which may be required to provide digital investment services in or from the Global Market and how the Financial Services Regulatory Authority will apply its authorisation criteria in technology governance, suitability and disclosure and newer areas like algorithm governance. The Authority’s requirements on algorithm governance, are closely calibrated to match international best practices and incorporate principles of fairness, transparency and accountability. These include requirements for human oversight over the design, performance and security of the algorithm model, ensuring the algorithm model is not affected by possible behavioural biases, adequate safeguards to protect the integrity of the algorithm model and ensuring the outcomes produced by the algorithm model are explainable, traceable and repeatable.

The Authority will allow digital investment managers to hold lower prudential capital if they meet the stipulated criteria and requirements.

Dubai: Nutritional Information on Menus Delayed

20/07/201911/12/2019
by Benjamin Filaferro

According to reports, the Dubai Municipality is going to delay the introduction of compulsory calorie information on menus in the Emirate. In May, a Circular was issued to all food outlets requiring this information to be shown which would have made Dubai the first Emirate to do so. The Municipality has decided to make displaying the information optional for the next two years and then make a Decision.