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UAE Tightens Corporate Governance and Anti-Money Laundering Rules: What It Means for Businesses in 2026 Category: Corporate Compliance & Business Advisory
The United Arab Emirates has taken another decisive step to cement its reputation as one of the world’s most trusted and investor-friendly business destinations. In a recent meeting of the country’s Economic Integration Committee, senior officials reviewed a fresh set of measures designed to strengthen corporate governance, tighten the framework
KSA Tax Authority’s Amnesty Scheme
Introduction and latest tax developments in KSA The Kingdom of Saudi Arabia introduced the latest tax developments in the country on Tax Authority’s Amnesty Scheme. Re-launch of tax penalty amnesty scheme Zakat, Tax and Customs Authority (ZATCA) announced the re-launch of its fines and relief amnesty for all taxpayers subject to
Saudi: Draft Investment Law Published
Investors can express their views and feedback on the latest draft investment law till 05 May, 2022. The Ministry of Investments Saudi Arabia (MISA) has climbed another historic milestone by publishing an investor friendly draft of the latest investment law. The Law aims to attract Direct Investments, enhance the investment
10 Conditions issued for Commercial Establishments in Saudi Arabia
The National Anti-Benami Project in Saudi Arabia has issued ten conditions to be satisfied by commercial establishments in Saudi Arabia. The deadline for correction of benami status of commercial establishments in the Kingdom expired on February 16th, 2022. The authorities have issued these conditions as part of completion of the
DAFZA launches ‘Talent Pass’ licence for freelancers.
Talent Pass license for freelance or self-employed work with the aim of attracting global talent and professionals. Under the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Airport Freezone Authority (DAFZA) launched the Talent Pass license for freelance or self-employed work with the aim of attracting global
No Minimum Capital for Trading Sector!
Ministry of Investments clarified that there is no minimum capital requirement even for trading sector under “Tasattur” correction program. Riyadh: Saudi Arabia is entering its last quarter of the amnesty period announced for commercial correction of businesses in the Kingdom. This scheme allows any foreigner or a foreign entity to
E-Invoicing Penalties Announced
ZATCA has announced violations and penalties in relation to e-invoicing. The Zakat, Tax and Customs Authority (ZATCA) has given out more information regarding the penal provisions for non-compliance regarding the e-Invoicing regulations and requirements, that will be effective from 4 December, 2021 in the Kingdom of Saudi Arabia (KSA). Please find the
Saudi Arabia grants citizenship to eminent talents
RIYADH – The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has announced granting the Saudi Citizenship to distinguished talents, with unique expertise and specialisations. The announcement was made in line with the issued Royal decree to grant Saudi citizenships to experts and exceptional global talents with
Saudization will not be forced on investors: Al Falih
RIYADH, SAUDI ARABIA — Minister of Investment Eng. Khalid Al-Falih said that Saudization will never be coerced upon foreign investors. It should happen organically. He was addressing a panel session at the fifth edition of the Future Investment Initiative (FII) in Riyadh on Tuesday (26/10/2021). The Future Investment Initiative took off
Abu Dhabi’s Virtual License to Boost Foreign Investment.
The Abu Dhabi Department of Economic Development (ADDED) has recently announced the launch of a virtual license to enable non-resident foreigners to invest in the emirate prior residence procedures allowing them to conduct business from anywhere outside UAE. This launch is followed by Dubai’s launch of the region’s first virtual
VAT Amendment for Government Contractors.
w.e.f 1 November,2021 Saudi Arabia: The Zakat, Tax and Customs Authority has announced a legislative amendment to the provisions of Article No. 20 of the Value-Added Tax (VAT) Executive Regulations on setting the date of supply and tax entitlement in certain cases. This amendment includes changing the date of supply
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