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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
10 Principles for the next 50 Years of UAE.
President’s decree for the UAE’s future! Sheikh Khalifa bin Zayed Al Nahyan, the UAE president has recently issued a decree on the adoption of the country’s 10 principles for the next 50 years for strengthening the union and building a sustainable economy. The decree requires all ministries, federal and local
Ministry of Commerce identifies 7 types of tasattur activities
RIYADH, SAUDI ARABIA The Ministry of Commerce, Saudi Arabia advised business owners and commercial establishments to make use of the extended six month period to correct the violations of the Anti-Commercial Cover-up Law (Tasattur). The ministry identified seven types of tasattur and the penalty for the crime includes a maximum
Employer who allows expat to work for personal benefit will be punished.
The General Directorate of Passports (Jawazat) informed that any employer, who allows his expatriate worker to take up jobs for their own personal advantage or for a monetary consideration, shall be punished with a maximum imprisonment of three months and penalty upto SR 50,000. The employer, who commits the violation
Saudi Arabia’s Pre Budget Update FY 2022
The Ministry of Finance under the umbrella of Saudi Vision 2030, has issued the Pre-Budget Statement. Economic recovery and revived growth constitute key pillars underpinning fiscal and economic targets for FY 2022 . The governments effort in combating the pandemic have led to minimising the impact, has minimised the threat
Anti-Money Laundering Law in UAE.
What you need to know. What is AML law in UAE? Anti-money laundering (AML) refers to the laws, regulations, and procedures that are put into place to prevent disguising illegally obtained funds as legitimate income, when it is not. Money-laundering investigations by law enforcement often involve scrutinizing financial records for
Commercial Concealment Correction Date Extended.
New Date February 16, 2022 Ministry of Commerce, Saudi Arabia has extended the National Commercial Concealment Correction Program for another six months until February 16, 2022. The program commenced on February 28, 2021 and was intended to end on August 23, 2021. This is an additional opportunity granted from the
UAE: 100% Foreign Ownership from June 1st
The UAE government on 19th May, has announced an overhaul of foreign ownership rules applicable to commercial companies which enables 100% stake of onshore companies from June 1st, 2021. It might be an enormous relief for the foreign investors in UAE, now you can invest and own your own business it’s
FDI Strategy: Bahrain ranked in top five globally.
Abu Dhabi (6th) and Dubai (8th) are also ranked in the top 10. The fDi intelligence magazine of Financial Times, in their ‘2021 Global Cities of the Future’ index, has awarded Bahrain’s capital city Manama with the fifth position globally among cities of all sizes and first position among small
Citizenship by Investment
Citizenship by Investment (CBI) is the means to obtain a second citizenship and passport in a country other than one’s home country by investing in their economy. Though the pandemic and the ruckus that tagged along has affected the entire world in a grim way, new doors have opened for
Historic labor reforms comes into force in Saudi Arabia
The landmark initiative ends the 70 year old Kafala (Sponsorship) System in the Kingdom. Saudi Arabia’s Ministry of Human Resources and Social Development formally declared that the new labor reform initiative will come into force on March 14, 2021. Ministry said that this labour initiative is in continuation with Saudi’s
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SAUDI CABINET APPROVES DOUBLE TAXATION TREATY WITH UAE
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