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25 Nov 2018

non muslim citizenship in Kuwait

Kuwait may grant citizenship to non-Muslims Kuwaiti citizenship could be granted to non-Muslims if two proposals which are approved by the parliamentary legal and legislative committee gets further support by the parliament and the government.  As per the current law in force, under Item 5 of Article 4, to attain…

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24 Nov 2018

Impact of VAT in Bahrain on GCC Countries

Impact of VAT in Bahrain on GCC Countries   Introduction of value-added tax or VAT impacts a country’s economy and industries. Additionally, the effects of VAT  also extends to the import and export of goods and services. In consideration of this, UAE has local or import/export business ties with Bahrain.…

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20 Nov 2018

New Kuwaiti Amnesty Rules

New Kuwaiti Amnesty Rules On 5 November 2018, the Chairman of the Amiri Rules and Regulations Committee Counselor Mohammad Fuhaid Al-Zuabi presented the guidelines on the adoption of Amiri amnesty for this year to the Lt-Gen Sheikh Khaled Al-Jarrah, the Deputy Prime Minister and Minister of Interior.  The Minister confirmed…

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17 Nov 2018

Ultimate Beneficial Ownership Regulation in the DIFC

Ultimate Beneficial Ownership Regulation in the DIFC Introduction The DIFC has recently introduced their regulations concerning The Ultimate Beneficial Owners (UBO) of companies. A beneficial owner is an individual within a company who, as defined within the new DIFC regulation, directly or indirectly holds or controls: Shares or other Ownership…

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14 Nov 2018

Amendments to the Oman Protection of Competition Regulation

Amendments to the Oman Protection of Competition Regulation Introduction Competition is often seen as being a requirement for a healthy economy. It allows for consumer choice and competitive pricing, which in turn leads businesses to innovate and seek out ways to attract customers. Monopolies arise when one business controls a…

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11 Nov 2018

UAE Federal Law to boost FDI

UAE Federal Law to boost FDI The UAE President His Highness Shaikh Khalifa Bin Zayed Al Nahyan has issued Decree No. (19) of 2018 on Foreign Direct Investment (FDI) which aims to improve the country's investment environment and attract direct investment in line with national development policies. The New FDI…

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