Kuwait Archives - Page 21 of 33 - LexisNexis Middle East

The MENA Business Law Review No. 03/2022 is out!

06/10/202211/10/2022
by Benjamin Filaferro

We are pleased to share the third edition of the MENA Business Law Review, the definitive business law reference in the Middle East and North Africa! In this edition:

ARBITRATION: Outcome-Related Fees Structures for Arbitration the UAE by Dr Tariq Mahmood FCIArb (33 Bedford Row), James Ng (Zhong Lun Law Firm) and Usama Munir (Schleuter Graf)

We explore the basic features and types of outcome-related fee structures (ORFS) for dispute funding and provide a detailed analysis of the UAE legal landscape of the acceptability of ORFS in arbitration proceedings.

LITIGATION: Comment on IPGL General Trading v. Horton Holding by Anson Cheung, Outer Temple Chambers

We share comments on this case, which raised interesting issues regarding the application and scope of the Duomatic principle to acts assented to by shareholders, with far-reaching practical consequences for a common practice in the UAE.

COMPANIES: A Guide to Saudi Arabia’s New Companies Law by Dr Qaisar Hamed Metawea, Lamisse Bajunaid, and Aziza Al Abbasi (Dr Qaisar Metawea Law Firm)

In this article, we provide a guide to the main areas of reform in Saudi Arabia’s new Companies Law concerning commercial and non-profit entities and analyse the impact of these reforms.

The New Regulation of Musataha Agreements over Commercial Land in the Emirate of Dubai by Jeremy Scott, Addleshaw Goddard (Middle East) LLP

In this article, we look in more detail at musataha arrangements in Dubai and assess the changes made regarding granting musataha rights over commercial land by government or government-related entities against its stated objectives.

CORPORATE GOVERNANCE: Solution to Executive Succession in UAE Family Businesses: The Board of Directors by David Chekroun (ESCP Business School), Megha Bansal (Deloitte) and Tanya Bansal (Abu Dhabi Department of Economic Development (ADDED))

This article assesses the rules and regulations regarding the corporate governance of family-owned businesses in the UAE, including the composition of the Board and its role in succession planning undertaken by the Nomination and Remuneration Committee. It also sets forth a series of recommendations on empowering the Board to facilitate a smooth transition of power amongst family businesses.

CYBERSECURITY: Financial Crime Challenges as We Enter Internet 3.0 by Karl Massi, Charles Russell Speechlys

The developing “crypto-economy” will become a significant part of the real economy in a very short time. This new digital mechanism for assigning, buying, selling and transferring assets brings with it novel issues regarding financial crime risk and security while mirroring some of the same vulnerabilities of the real economy. This article will explore some of the critical areas and how the UAE approaches them.

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LexisNexis MENA Business Law Review No. 03_2022

Have you read the previous editions of the MENA Business Law Review? Click the links below to access and read previous editions.

LexisNexis MENA Business Law Review No. 02_2022

LexisNexis MENA Business Law Review No. 01_2022

News developments

Kuwait: Electric Vehicle Charger Regulations Issued

04/10/202204/10/2022
by Benjamin Filaferro

Alanba, 2 October 2022: Kuwait’s Minister of Works and Electricity, Water and Renewable Energy has issued a Decision on the technical specifications and rules regulating the use of electric vehicle chargers.

The Decision will be implemented 60 days after the Decision is published in the Official Gazette.

The first phase will start from the date the Decision comes into force. It will be in force until 31 December 2025.

The second phase will start on 1 January 2026 and end on 31 December 2030.

Under the Decision, vehicle charging equipment must not be installed near water sources such as a fountain, pond or water sprinkler.

Charging equipment must be installed in light places, and the charger’s dimensions and height must not obstruct traffic or impede the movement of disabled people.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

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

News developments

Kuwait: Decision to Suspend Issuing Licences for New Pharmacies Cancelled

03/10/202203/10/2022
by Benjamin Filaferro

Alanba, 26 September 2022: Kuwait’s Health Minister has issued a Decision cancelling the Ministerial Decision to suspend consideration of new requests to grant licences to open pharmacies in the private sector.

The Decision also lifts the suspension of considering requests for licences to practice pharmacy by non-Kuwaiti applicants.

The Chairman of the Pharmacy Association welcomed the Decision.

For the full story, click here. Also reported in Alraqeeb.

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

News developments

Kuwait: Environmental Laboratories Accreditation Regulations Approved

13/09/202213/09/2022
by Benjamin Filaferro

Alanba, 11 September 2022: The Chairman of the Board of Directors and Director General of the Environment Public Authority has issued environmental laboratories accreditation regulations.

Under the new regulation, environmental laboratories will measure environmental samples to detect pollutants and compare them with the tables contained in the rules of the Environmental Protection Law.

The Authority will issue monthly lists of the approved laboratories, subject to continuous modification in line with the relevant changes and the extent of their commitment or violation of the requirements.

For full story, click here.

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News developments

The Lexis® Middle East Gulf Tax – Autumn 2022 edition is out now!

12/09/202213/09/2022
by Benjamin Filaferro

We are pleased to share the latest edition of our tax magazine, Lexis® Middle East Gulf Tax, the first of its kind in the GCC! It is a complimentary magazine that provides updates on the GCC’s recent key tax and financial developments. In this edition:

Crypto Tax

The UAE has taken significant steps to develop a regulatory framework for cryptocurrency and virtual assets. Milos Krstic of Rain and Thomas Vanhee of Aurifer Middle East Tax look at how the UAE tax regime in this area may operate.

No Escape?

Mohamed ElBaghdady of Habib Al Mulla & Partners – a member firm of Baker & McKenzie International, Anas Salhieh of MMJS Consulting and George Campbell of Keypoint explain the different approaches tax authorities are taking in Saudi Arabia, the UAE and Bahrain to tackle tax evasion.

Practical Focus on Customs Duty and e-Commerce in the UAE and Saudi Arabia

Practical points in an article based on a Practice Note by Dr Atia Hussain of the University of Sharjah.

Tax-i, please

Halil Erdem of Careem talks about the need for GCC harmonisation in various areas of tax, one being e-invoicing. Sanjeev Fernandez of EY MENA talks about e-invoicing developments in Saudi Arabia and the region.

What do I do if VAT rates change?

As Saudi Arabia and Bahrain have increased VAT rates, and further changes could be coming in Saudi, what steps should taxpayers take to mitigate the impact of such changes? Gaurav Kapoor and Kanval Ashar of PwC Oman answer these questions and more!

Special thanks to Alchemy Search for supporting tax professionals by connecting businesses with talent across the GCC and beyond!

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Lexis® Middle East Gulf Tax | Autumn 2022

Have you read the Lexis® Middle East Gulf Tax – Summer 2022 edition? Click the link below to access and read this edition.

Lexis® Middle East Gulf Tax | Summer 2022

News developments

Kuwait: New Residency Law Expected After Election

05/09/202205/09/2022
by Benjamin Filaferro

Kuwait Times, 5 September 2022: A new residency law will be submitted by the government to the National Assembly after the elections to address the demographic structure, reduce expatriate numbers, localise jobs, increase Kuwaitisation in the private sector and reform the economy.

The laws that the government submitted to the previous National Assembly will be raised again to the new Assembly with a few changes requested by earlier parliament members and some of the candidates who have been running in the elections.

The proposed new law bans sponsors from bringing in expatriate workers without permission from the Public Authority of Manpower. It has also been saying the minister should issue a decision on the procedures, documents and fees required from the sponsor. Anyone who illegally employs workers or runaways will be subject to heavy fines ranging from 5,000 Dinars to a maximum of 50,000 Dinars and paying all costs related to deporting the workers. In repeated offences, the violations will be referred to the public prosecution.

The proposed law also prohibits sponsors contracted for government projects from submitting to competent authorities a request to recruit workers from outside the country or recruit more workers than required, which should help stop the trade in iqamas.

To reduce expatriate workers who are not required, all sponsors must pay a deposit of 500 Dinars for every worker they sponsor to ensure they are employed. Salaries are paid until the end of their service, following procedures on health insurance and the costs of sending the workers back to their countries.

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

News developments

Kuwait: New Food Delivery Driver Regulations Approved

22/08/202222/08/2022
by Benjamin Filaferro

Kuwait Times, 18 August 2022: The Kuwaiti authorities have approved new food delivery driver regulations.

Among other things, they specify the driver must have a health certificate from the Ministry of Health, and a sticker representing the company must be placed on the delivery vehicle.

In addition, the deliveryman’s iqama must be for the same company he works for, and a unified uniform must be assigned to all drivers.

All relevant companies will have to comply with the regulations by 1 October.

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News developments

Kuwait: Private Pharmacies Regulations Amended

19/08/202222/08/2022
by Benjamin Filaferro

Alanba, 17 August 2022: Kuwait’s Minister of Health has issued two Decisions to control and correct the work of private pharmacies.

Under the first decision, Article 18 of Kuwait Ministerial Decision No. 395/1997 issuing the Implementing Regulations to Kuwait Law No. 28/1996 has been amended.

Under the amendment, the pharmacy management will be limited to Kuwaiti pharmacists who are licensed to practice the profession and are granted a licence to open a pharmacy.

Pharmacies will be given three months to comply.

Under the second Decision, consideration of applications for granting licences to new pharmacies in the private sector and the request to grant a licence to practice the profession of pharmacy to non-Kuwaitis will be suspended until the completion of a relevant study.

For full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

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

News developments

Kuwait: Law on Appointments in Oil Sector Amended

07/07/202207/07/2022
by Benjamin Filaferro

Alanba, 4 July 2022: Kuwait’s Human Resources Development Committee has approved a proposal from a Kuwaiti MP to amend the law of appointment of graduates in the Oil Sector by dividing the employment process into two parts.

The first part will be an accumulative process where candidates are accepted by adding up the highest mark from the personal interview, the language exam, the university average and the intelligence test.

The second part will involve a two month training session with weekly tests and the candidate must pass the exam with at least 70%.

The aim of the proposal is to achieve fairness, equal opportunities and save time in qualifying competent engineers.

For full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

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

News developments

Out Now! MENA Business Law Review No. 02/2022

04/07/202205/07/2022
by Benjamin Filaferro

The MENA Business Law Review No. 02/2022 is brought to you by LexisNexis Middle East and features articles in Arabic, English, and French. In this issue of the MENA Business Law Review:

FIFA World Cup Qatar 2022: Legislative Developments, by Khadeja Al-Zarraa of Al-Ansari & Associates
The UAE’s New Corporate Tax Regime, by Mourad Chatar of Value Square and Ilias Paraskevopoulos
[Arabic] Highlights of Buy-Back Contracts (Repo Agreement): A Comparative Study, by Dr. Zain Al Abdin Sharar of QICDRC
A New Era: English Language Litigation in the Kingdom of Bahrain, by Jodie Martyndale-Howard of Charles Russell Speechlys
Fully Booked: A Return to Form for the Middle East Hospitality Sector, by Llowri Lwydd and Oliver Stevens of Addleshaw Goddard
[French] Affaire Bank Melli Iran versus Telekom Deutschland GmbH, by Maryam Sodayreh
Legislative Insight: Oman’s Crowdfunding Regulations, by Maria Mariam Rabeaa Petrou and Alaa Al Hinai of SASLO
Case Comment by David Russell QC of Outer Temple Chambers: The Industrial Group Ltd v. Abdelazim El Shikh El Fadil Hamid

Get your copy here!