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  • 28 Nov 2018Abu Dhabi

    Abu Dhabi’s Crown Prince and Executive Council Chairman has approved a Decision exempting all new economic licenses issued in the Emirate from all local fees for two years. It comes into effect on its issued date and applies to all commercial activities in Abu Dhabi and the Emirate's free zones.

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  • 15 Nov 2018Egypt

    On 3 October 2018, the New Public Contracts Law No 182 of 2018 (the Law)(Egypt Law No 182/2018) was published in Egypt's Official Gazette, which replaces the previous Public Tenders and Auctions Law No 89 of 1998 (Egypt Law No 89/1998).

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  • 07 Nov 2018Iran

    Following President Trump’s decision on May 8, 2018 to withdraw the United States from the Joint Comprehensive Plan of Action (JCPOA), the US government announced that it would re-impose pre-JCPOA nuclear-related Iran sanctions (both primary and secondary) that were lifted under the JCPOA. As we reported previously, two wind-down periods—of 90 and 180 days respectively—commenced from the day of the announcement, during which non-US, non-Iranian companies were encouraged by the US government to withdraw from operations in Iran that would be affected by re-imposed sanctions. OFAC’s guidance discouraged non-US persons from engaging in new activity during the wind down periods, and stated that any such new activity may be a factor in connection with future enforcement action for actions taken after the wind-down period.

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  • 06 Nov 2018Abu Dhabi

    Following the announcement made by the Abu Dhabi Department of Economic Development (ADED) on September 15th, 2018 launching the first phase of its Dual Licenses Initiative (DLI) to allow offshore companies to carry out their activities in Abu Dhabi mainland, it has now materialized through an administrative decision issued by the Chairman of the ADED, H.E Saif Mohammed Al Hajeri on 18th July 2018 and published in the Official Gazette (Decision).

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  • 06 Nov 2018United Arab Emirates

    Following a series of recent government announcements and much speculation in the market, a new Foreign Direct Investment Law (FDI Law) has been published in the UAE Official Gazette and is now in force. As with most, if not all, new legislation, the FDI Law is open to interpretation and we expect further clarity in the coming weeks and months. This article highlights some of the principal take-away points from the new FDI Law and the impact that it will have on the investor community.

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