Content update

As of 01 January 2024, the import and trade of single-use products and most plastic bags (with few exceptions) is prohibited. Non-compliance with the new rules may result in fines.

Almost two months ago, HH Sheikh Mohamad bin Rashid, UAE's Prime Minister and Ruler of Dubai, announced that the Cabinet has approved a new End of Services Scheme (EoSS) for private sector and free zones establishments. Here's what we know so far about the new scheme.

The UAE Arbitration has been amended pursuant to a law recently enacted. Three key changes have been introduced with these amendments that will impact and enhance the efficiency and flexibility of the arbitration law.

A group of persons can now be contributors or participants in a real estate shareholding development project and get ownership of shares in return.

After two decades of implementing the Oman Labour Law ("old law"), the Sultanate of Oman follows the lead of other GCC nations in revamping its legislation and enacts a new Labour Law ("new law").

In 2021, Saudi Arabia promulgated the Law of Execution before the Board of Grievances; pursuant to which the Board was delegated to determine the enforcement date of the Law.

HH Sheikh Sultan bin Mohammed Al Qasimi, Ruler of Sharjah, promulgated a Law subjecting branches of foreign banks, operating in the Emirate of Sharjah, to a new income tax.

The Kuwait Capital Markets Authority issued a circular setting out the parameters of prohibitions when it comes to dealings or transactions related to Virtual Assets or Virtual Currencies.

Companies will be able to issue "green bonds and sukuks" for public subscription in the UAE.

SMEs and Start-ups, in the UAE, will be able to benefit from Corporate Tax relief according to a new resolution issued by the Ministry of Finance.