Newsletter Archives - Page 35 of 243 - LexisNexis Middle East

Qatar: To Implement 12-Digit Harmonised Customs Code by 2025

19/12/202419/12/2024
by Hannah Gutang

Qatar announced a shift to a 12-digit harmonised customs code, effective January 1, 2025, aligning with GCC countries to enhance international trade and customs processes.

Analysis

The Head of the Tariff and Origin Section at Qatar’s Customs Policies and Procedures Department revealed that the country would transition to a 12-digit harmonised customs code from the current 8-digit system, starting January 1, 2025. This change will be implemented across all Gulf Cooperation Council (GCC) countries.

Qatar initially adopted the harmonised customs code in 1995 and became an official member of the Harmonised System Convention in 2004.

Managed by the World Customs Organisation (WCO), the harmonised system is updated every five years and serves as the foundation for goods classification systems used worldwide.

For the full story, click here.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Oman: Labour Ministry Launches National Framework to Boost Workforce Efficiency

19/12/202419/12/2024
by Hannah Gutang

The Arabian Stories, 11 December 2024: Oman’s Labour Ministry has launched the National Framework for Job Competencies and the Human Resources Management Matrix.

The initiative is aimed at enhancing the capabilities of the government’s administrative system.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Kuwait: Introduces Comprehensive Foreign Residency Law

19/12/202419/12/2024
by Hannah Gutang

Arab Times, 12 December 2024: A senior official from the Kuwaiti Interior Ministry has announced the introduction of a new foreign residency law designed to align with current developments and address longstanding gaps.

The previous law, in place for over six decades, had seen only minimal changes.

The new law aims to rectify shortcomings in the older legislation while ensuring justice for expatriate workers and cracking down on residency traders through stricter penalties.

The law establishes clear guidelines for the rights and obligations of both workers and employers.

Set to be implemented within six months of its publication in the Official Gazette, the new residency law comprises 36 articles across seven chapters, incorporating significant amendments to benefit both citizens and residents.

Kuwait has taken steps to comply with international standards, particularly regarding human trafficking, by introducing provisions that reflect global laws and practices.

A key feature of the new law is the extension of residency durations for certain categories.

For instance, children of Kuwaiti women are granted a 10-year residency with the option of renewal, exempting them from fees unless they acquire Kuwaiti citizenship.

Additionally, the law allows foreigners to obtain regular residency in Kuwait for up to five years and includes incentives for foreign investors, such as granting real estate owners a ten-year residency.

Investors are eligible for a 15-year residency to encourage economic activity, while the family visit visa duration has been extended to three months.

The law outlines fees related to residency permits, renewals, and all types of entry visas, subject to decisions by the ] Interior Ministry.

A committee has been formed to ensure these fees align with residents’ incomes and services provided.

Concerns were expressed over disparities in visa fees between Kuwait and other countries, highlighting that Kuwaiti citizens pay significant amounts to enter certain countries while citizens of those nations pay nothing to enter Kuwait.

Severe penalties are imposed on those who exploit residency regulations, including trading in visas or employing foreigners unlawfully.

The law prohibits employers or recruiters from misusing visas, delaying payments without justification, or employing workers for purposes other than those specified in their contracts.

Foreigners are also prohibited from working for others without the appropriate permissions.

Shelter or employment of individuals without valid residency is strictly forbidden.

Violators, including companies facilitating illegal recruitment, face harsh penalties.

Companies found guilty of human trafficking or misusing foreign labor may lose their licenses, and responsible officials could face imprisonment and fines, with penalties doubling for public employees or repeat offenders.

The law also penalises individuals who obtain work permits in exchange for money or other benefits.

The Interior Ministry retains the authority to deport foreigners, even those with valid residency permits, if they lack a legitimate source of income, violate the terms of their residency, or pose a threat to public interest, security, or morals.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Dubai: New Guidelines for Attorney Fee Assessment at Rental Dispute Centre

19/12/202419/12/2024
by Hannah Gutang

In a significant development for the legal community, Dubai Decision No. 6/2024 has been issued by the Rental Dispute Settlement Centre, effective from 14 November 2024.

This decision outlines the procedures for handling requests and claims related to attorney fees.

The decision comes after a thorough review of several federal decrees, including the Federal Decree-Law No. 34/2022, which regulates the professions of law and legal consultancy, and the Federal Decree-Law No. 42/2022, which pertains to civil procedures.

Additionally, it considers Dubai Decree No. 26/2013 and Dubai Decree No. 28/2023, which address the establishment and leadership of the Rental Dispute Settlement Centre in Dubai.

Under the new decision, the Centre is designated as the competent authority to consider all requests and claims regarding attorney fees within its jurisdiction.

The decision specifies two distinct procedures based on the existence of a contract between the attorney and the client.

If a contract is present, the fee request will be processed through an order on a petition.

In the absence of such a contract, the request will be handled as a substantive lawsuit.

This decision aims to streamline the process of fee assessment and ensure the proper administration of justice, reflecting the Centre’s commitment to addressing the needs of both legal professionals and their clients.

The legal community is advised to take note of these changes and adjust their practices accordingly.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Bahrain: Bahrain Bourse Updates the Listing Rules

19/12/202419/12/2024
by Hannah Gutang

Bahrain Bourse announced the publication of its updated Listing Rules and Guidelines, which would be effective immediately in alignment with the Central Bank of Bahrain’s (CBB) ESG requirements.

Analysis

The revised Listing Rules and Guidelines incorporate new disclosure requirements related to Environmental, Social, and Governance (ESG) standards, as mandated by the CBB’s ‘Common Volume ESG Module’. These rules apply to all securities listed on the Mainboard Market and future listings on Bahrain Bourse.

The new ESG disclosure requirements aim to standardise reporting among issuers, requiring them to establish their own ESG reporting framework in line with BHB and CBB guidelines. Issuers must submit their ESG reports within six months after the end of their financial year, either as a stand-alone report or as part of the company’s annual report.

The CBB’s ‘Common Volume ESG Module’ is applicable to all listed companies for the reporting period ending December 2024. From the end of 2024, these reporting requirements will be applied comprehensively to listed companies and CBB licensees. The module also addresses ESG-related risks in alignment with Bahrain’s Economic Vision 2030, the UN Sustainable Development Goals (SDGs), and the “Blueprint Bahrain” national action plan announced during the COP28 conference in the UAE.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

ADGM: Announces Plans for Establishment of Insurance Association

19/12/202419/12/2024
by Hannah Gutang

ADGM has announced the upcoming establishment of the Insurance Association within its jurisdiction, marking a significant step forward for the insurance and reinsurance sectors in ADGM and the UAE.

This initiative aims to create a unified platform to support industry growth and innovation.

The Association will foster collaboration among key stakeholders, enhance professional standards, and promote best practices within the insurance industry.

It will act as a collective voice, engaging with regulators, policymakers, and industry leaders to address emerging challenges and opportunities, aligning with ADGM’s mandate and the UAE’s economic and financial development goals.

This initiative highlights ADGM’s commitment to building a robust, sustainable, and globally competitive insurance ecosystem, reinforcing its status as a leading financial centre.

Further details on the Association’s structure, membership opportunities, and upcoming activities will be announced soon.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Bahrain: Shura Council Approves Doubling Small Claims Limit to BD1,000 in Courts

19/12/202419/12/2024
by Hannah Gutang

The Daily Tribune, 18 December 2024: The Shura Council has endorsed a proposal to double the limit for small claims that can be substantiated through witness testimony, increasing it from BD500 to BD1,000.

This initiative aims to streamline and reduce the costs associated with resolving minor financial disputes in Bahrain’s courts.

Prompted by changing economic conditions, the proposal will now be sent to the government for legislative drafting.

If enacted, individuals will be able to use witness testimony for claims up to BD1,000, thereby reducing the reliance on costly legal procedures.

Members of the Shura Council have emphasised that this change would make the legal process more accessible for ordinary Bahrainis dealing with minor financial disagreements.

One council member noted that the previous 500-dinar limit was outdated and no longer aligned with current realities.

Increasing the limit to 1,000 dinars is expected to make legal action less intimidating and help individuals resolve disputes without incurring significant expenses.

The First Deputy Chairman of the Shura Council expressed support for the change but stressed the need for precise legal wording to ensure its effectiveness.

If approved, this adjustment would mark a significant step towards simplifying legal processes for Bahrain’s citizens, facilitating quicker and less burdensome resolutions for small-scale disputes.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

UAE: Launches World’s First VAT Refund System for E-Commerce Tourists

18/12/202418/12/2024
by Hannah Gutang

Khaleej Times, 16 December 2024: The Federal Tax Authority (FTA) has unveiled a groundbreaking VAT refund system for e-commerce retail purchases made by tourists during their stay in the UAE, marking a world-first initiative.

This innovative system, developed in partnership with Planet, the authorised operator, is part of the FTA’s strategy to embrace proactive solutions through innovation and digital transformation.

The new system integrates platforms and e-commerce retailers registered with the Authority into the ‘VAT Refund for Tourists on E-Commerce Purchases’ program.

This initiative builds on the success of a fully digital VAT refund system launched over two years ago, which has been continuously updated to remain entirely paperless.

Tourists can now enjoy a seamless shopping experience, easily scanning their passports and completing purchase transactions that are automatically converted into digital invoices.

The system allows for quick verification of invoices via a shoppers’ portal, ensuring fast and efficient VAT refund procedures for eligible purchases.

The FTA’s Director-General expressed pride in launching this pioneering electronic system, which enhances the UAE’s reputation as a leading international tourism destination.

The system has been praised for its simplicity, efficiency, and speed, offering tourists a unique experience by enabling VAT recovery on purchases from both traditional stores and registered e-commerce platforms.

The VAT refund process is designed to be smooth and efficient, from purchase to refund completion upon the tourist’s departure.

Tourists can apply for VAT refunds directly through registered e-commerce platforms by providing travel document details and personal information to verify eligibility at the time of purchase.

The registration is finalised once the tourist’s identity is confirmed during delivery or online order fulfillment.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Saudi Arabia: Social Insurance Launches Compliance Index for Enterprises

17/12/202417/12/2024
by Hannah Gutang

The Saudi Social Insurance announced the launch of the Compliance Index service, aimed at assisting employers and enterprises in achieving insurance compliance.

Analysis

The Saudi Social Insurance introduced the Compliance Index to educate enterprises about insurance systems and promote the principle of insurance compliance among employers.

Objectives of the Compliance Index

The Compliance Index aims to achieve several key objectives, including encouraging enterprises to adhere to social insurance systems, distinguishing enterprises with high compliance levels, and educating those with lower compliance. Additionally, the index seeks to offer exceptional services to compliant enterprises, thereby fostering a culture of adherence to insurance regulations.

Access and Additional Services

Employers and enterprises can access and review the Compliance Index through their accounts on the GOSI Business platform. Recently, the organisation launched the innovative “Self-Compliance” electronic service for enterprises, aiming to create a positive relationship and ongoing partnership to enhance and sustain occupational safety and health in work environments.

For the full story, click here.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Oman: New Wage Protection and Workforce Transfer Regulations

17/12/202417/12/2024
by Hannah Gutang

The Ministry of Labour in Oman issued two ministerial decisions to regulate wage protection and the temporary transfer of non-Omani workers within the private sector.

Analysis

The Ministry of Labour in Oman issued two ministerial decisions to regulate wage protection and the temporary transfer of non-Omani workers within the private sector.

Wage Protection System

The Ministry of Labour in Oman announced a new Wage Protection System (WPS) to electronically monitor the payment of wages in the private sector. The system mandates employers to transfer wages to employees’ bank accounts or financial institutions under the supervision of the Central Bank of Oman, as per the agreed employment contracts and within the legally specified timeframe.

Employers are required to update employment contracts to reflect any changes in wages and must transfer wages through the WPS within three days of the end of the wage period. The Ministry’s relevant department will oversee the implementation and monitoring of the WPS, maintaining a dedicated database.

Exceptions to the WPS include cases of labour disputes where the worker has stopped working for more than 30 days, suspension of the worker for reasons beyond the employer’s control for more than 30 days, and new employees who have not completed 30 days of service.

A committee will review exemption requests not covered by the specified exceptions. Administrative penalties for non-compliance include warnings, suspension of preliminary work permits, and fines of 50 Omani rials per employee, with increased fines for repeated violations. The decision also repealed the previous Oman Ministerial Decision No. 299/2023.

Workforce Transfer Regulations

The Ministry also introduced regulations for the temporary transfer of non-Omani workers between private sector establishments. Key conditions for transfer include not moving workers to nationalised professions, ensuring job compatibility, and obtaining worker consent. Workers must have completed at least six months with the current employer, and the work permit must remain active with more than six months until expiration. Transfers are limited to six months per worker annually, and both establishments must comply with nationalisation quotas and have no service suspensions or financial obligations to the Ministry.

The receiving establishment must not employ the worker beyond the transfer period and must honour all rights and obligations, including maintaining the worker’s previous wage and benefits through the WPS. If a worker leaves the receiving establishment, it must immediately notify the original employer and provide evidence of the departure. The original employer is required to report the worker’s departure following Ministry procedures. The transfer period will count towards the worker’s total service duration, ensuring the protection of their rights and continuity of service calculation.

The decision also stipulates the percentage of transferred workers should not exceed 50% of the total registered workers in either establishment, and the transfer must be officially registered with the Ministry using the approved form. The receiving establishment is responsible for not employing the worker after the transfer period and must bear all rights and obligations during this time, ensuring the worker receives at least the same wage and benefits as in the previous establishment.

For the full story, click here.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.