Kuwait Archives - Page 15 of 33 - LexisNexis Middle East

Kuwait: Electronic Real Estate Brokerage System Launched

11/10/202311/10/2023
by Tanya Jain

Alrai, 8 October 2023: The Undersecretary of the Trade and Industry Ministry Ziad Alnajem has announced the launch and activation of the first stage of a new Electronic Real Estate Broker system in Kuwait.

The system is intended to help prevent fraudulent real estate sales. It will help link up five relevant government departments – the Trade and Industry Ministry, the General Authority for Civil Information, the Justice Ministry, the Kuwait Municipality, and the fire brigade, as well as the purchaser and seller. It will also see the end of paper-based transactions in the local property market.

Read the full story here.

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News developments

Kuwait: Cost of Living Allowance Could be Increased

05/10/202305/10/2023
by Tanya Jain

Alqabas, 1 October 2023: A Kuwaiti government source has announced the government is studying a cost of living allowance increase. They are considering increasing it from 120 to 250 Dinars.

The source added the government will work to stabilise prices first and then approve any financial increases. They went on to say the government implements a joint mechanism for up to 90 days to control any high prices affecting consumer goods and products in cooperative associations, retail stores and parallel markets.

Read the full story here.

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News developments

Kuwait: New Controls for Granting Leave for Accompanying Sick Patients Announced

20/09/202320/09/2023
by Tanya Jain

Alrai, 17 September 2023: The Managing Director of Human Resources at Kuwait Petroleum Corporation has issued a Circular regarding the rules, controls and conditions for leave to accompany a patient in the oil sector.

The Circular states it is permissible to extend the leave of a non-relative to accompany a patient suffering from an incurable disease after the accumulated annual leave balance of the employee has been exhausted.

The extension request will have to be made after the first 90 days of leave for a patient’s non-relative companion has expired. A report from the relevant medical authority will have to be provided and presented to the institution’s CEO to consider and approve.

It will be implemented on its issued date.

Read the full story here.

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News developments

Lexis Middle East Gulf Tax – Autumn 2023 Edition

13/09/202313/09/2023
by Tanya Jain

We are excited to introduce the newest edition of Lexis Middle East Gulf Tax. Our complimentary magazine provides valuable insights into the latest tax and financial developments throughout the region.

In this issue, we delve into the finer points of free zones in the UAE, where recent Cabinet and Ministerial Decisions have shed light on the operation of Corporate Income Tax. Discover the clarifications and implications that may affect your business.

In this edition:

FEATURE: FINER POINTS ON FREEZONES

Explore how recent Cabinet and Ministerial Decisions have brought clarity to the operation of Corporate Income Tax within UAE freezones. Mourad Chatar of Value Square unravels surprises in determining liabilities.

FEATURE: E-INVOICING: WHAT NEXT?

Dive into the adoption of new technology across the GCC to enhance tax compliance. Discover how tax regulators are leveraging mandatory e-invoicing for improved tax regulation. Insights provided by Ekansh Agrawal and Shashank Chandak of KPMG.

TAX NEWS ROUND-UP

Stay informed about the latest updates in tax treaties and regulations throughout the region.

WHAT’S CHANGED?

Discover the significance of the new UAE clarification procedure within the dynamic tax landscape. Brought to you in partnership with Crowe.

PRACTICAL FOCUS: TAX AND M&A

Gain valuable insights from Mourad Chatar and Ismail El Koundi of Value Square, tailored for tax and M&A professionals.

INHOUSE TAX PROFILE: SUSTAINABLY MINDED

Explore the intersection of sustainability and tax planning with Rajpal Bal, Global Head of Tax, Treasury & Customs at Aramex.

ANY QUESTIONS? – HOW DOES TAX RETENTION OPERATE?

Delve into the workings of tax retention in Kuwait with insights from Rami Alhadhrami of BDO Kuwait, shedding light on the requirements that apply to entities trading in Kuwait.

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Lexis Middle East Gulf Tax| Autumn 2023

Have you read the Lexis® Middle East Gulf Tax – Spring and Summer 2023 editions? Click the links below to access them.

Lexis Middle East Gulf Tax |Spring 2023

Lexis Middle East Gulf Tax | Summer 2023

News developments

Kuwait: Expatriates’ Residency Law Amended

13/09/202313/09/2023
by Tanya Jain

Arabian Business, 10 September 2023: Kuwait’s Interior Minister has issued a Ministerial Decision amending the Expatriates’ Residency Law.

Under the amendment, expatriates have to pay off all of the debts they owe to state departments before they are allowed to renew or transfer their residency visas.

The outstanding debts can be paid via the websites of the relevant state department or via the Sahel application. For residency to be issued, renewed, or transferred to another sponsor, an applicant must also pay the Health Ministry’s health insurance fee.

The Decision has been published in the Official Gazette and came into force on its published date (10 September).

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News developments

Kuwait: Capital Market Authority Signs Cooperation Agreement with Insurance Regulatory Unit

07/09/202307/09/2023
by Tanya Jain

Alanba, 4 September 2023: Kuwait’s Capital Market Authority has signed a cooperation agreement with the Insurance Regulatory Unit.

It was signed to boost control and coordinate cooperation in these areas in order to achieve harmony and integration in work mechanisms and procedures between state agencies and reduce procedural burdens on beneficiaries.

It was signed for the Capital Markets Authority by the Chairman of its Board of Commissioners and Executive Director, Dr. Ahmed Al-Mulhim. It was signed for the Insurance Regulatory Unit by its Head, Muhammad Al-Otaibi.

Read the full story here.

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News developments

Lexis Middle East Law Alert: July – August 2023 Edition

29/08/202329/08/2023
by Tanya Jain

Presenting the latest July-August edition of our complimentary law magazine, the Lexis Middle East – Law Alert! Keep yourself informed about the most recent legal, financial, and fiscal advancements, as well as trending subjects in the MENA region.

In this issue, we delve into the reasons behind the necessary amendments to Saudi Arabia’s Civil Transactions Law and its potential implications. We also cover recent legal and tax updates, regulations, and much more. Stay in the loop with our comprehensive insights.

Feature: A More Civil Approach

Explore the Saudi Civil Transactions Law with an in-depth analysis by Professor Najib Hage-Chahine from Hage-Chahine Law Firm. Gain an understanding of how this new law influences relationships between individuals and their property rights.

Feature: From Ship to Shore

Dive into the new Oman Maritime Law, as explained by Abdullah Hassan Khan and Shehreyar Khan of MAR Law. Discover the significant changes it brings to the legal framework governing the maritime sector and disputes.

Profile: An Effective Approach to Litigation

Meet Judge Ahmed Bakry Abdalla Hassan Elsayed, the Head of the Commercial Circuit in the Abu Dhabi Commercial Court. Gain insights into his approach to successful litigation and the role he plays in the legal landscape.

Dispute Resolution Focus

Shireen Fazal, Partner at Al Aidarous, explains the critical importance of selecting the right dispute resolution method, particularly in construction disputes.

Movers & Shakers

Check out our latest round-up of the top movers and shakers from the world of legal appointments and promotions, brought to you by Jameson Legal. Who is been promoted, who is been appointed, and who is moving on?

Dispute Resolution Focus: Cases and Updates

Hashem AlAidarous, Partner at Al Aidarous, qualified in three jurisdictions, explains
the differences between dispute resolution in the UAE, the US, and Australia.

Contract Watch: Job Sharing Contracts

Explore contracts with Yulia Kasiyanova, Associate Partner at SCHLÜTER GRAF Legal Consultants, and gain a deep understanding of this legal aspect.

Law Monitor

Delve into the Kuwaiti Law on Issuing Instructions for Electronic Payment of Funds, staying informed about the evolving legal landscape.

Thanks to Jameson Legal for supporting individuals and businesses, and Al Aidarous for keeping us updated on dispute resolution cases.

Lexis Middle East Law Alert_July August 2023

Explore the past editions of the Lexis® Middle East Law Alert and stay up-to-date with the latest news! Click the links below for instant access to older editions.

Lexis Middle East Law Alert January-February 2023

Lexis Middle East Law Alert March-April 2023

Lexis Middle East Law Alert_May June 2023

Tax and Finance Round-Up

Stay ahead with the UAE Corporate Income Tax Freezone clarifications, covering recent key tax and finance developments in the region.

Legal Round-Up

Get the latest insights into arbitration submission agreements in Saudi Arabia, covering recent key legal developments across the region.

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News developments

Kuwait: Health Insurance for Retirees Law Approved

23/08/202323/08/2023
by Tanya Jain

Kuwait Times, 21 August 2023: A Health Insurance for Retirees Law has been approved. A separate law on the formation of construction firms responsible for ensuring the economic development of residential areas has also been approved.

In addition, new electoral laws dealing with Parliamentary elections have been approved. Finally, amendments to constitutional court legislation have been approved.

The Cabinet also referred a draft law on proposed amendments to electoral constituencies to the Crown Prince to consider.

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News developments

Kuwait: Allowances for Microentrepreneurs and Freelancers Approved

16/08/202316/08/2023
by Tanya Jain

Kuwait Times, 14 August 2023: Kuwait’s Cabinet has approved allowances for microentrepreneurs and freelancers. They will be paid labour support allowances monthly.

The allowance is similar to the pay citizens in the private sector receive. The aim is to support young Kuwaitis and improve the local business environment.

The Cabinet has affected this change by an amendment to Kuwait Decision No. 391/2001.

The amendment states: “Owners of licenses for micro-entrepreneurs and activities of a special nature determined by the Minister of Commerce and Industry.”

In this situation, in addition to the conditions specified in Article 5 of Kuwait Decision No. 391/2001, the Commerce and Industry Ministry must submit periodic reports to the Public Authority for Manpower on the regularity of the beneficiaries of the provisions of this Decision in practicing the activities they are licensed for.

Additional reporting from Alqabas on 14 August 2023. For the full story, click here.

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Expired Kuwait Arbitration Day | In-Person Event | 19 September 2023

10/08/202317/09/2023
by Tanya Jain

We're sorry, but all tickets sales have ended because the event is expired.

Kuwait Arbitration Day | 19th September 2023 | Kuwait
19/09/2023
8:00 AM - 12:00 PM

Join us on September 19th for an enlightening exploration of cutting-edge arbitration topics, bridging regional and global perspectives.