Innovative services enable global access to digital asset distribution and document notarization The Dubai International Financial Centre (DIFC) Courts introduced a groundbreaking ‘digital assets will’ on Tuesday, enabling owners to distribute their digital assets through a non-custodial wallet. This innovative wallet empowers individuals to reassign assets to designated beneficiaries within their wallet, maintaining full control over asset movement during their…
The FTA has introduced a new option allowing taxpayers to change their entity’s legal type directly, without the need for deregistration and re-registration Below is the first article under Khaleej Times’ new initiative designed to offer readers expert insights about the impact of VAT and Corporate Tax on UAE’s business environment. During VAT registration of our entity, we have chosen…
Additionally, the new decree introduces criminal penalties for fictitious recruitment, including fictitious Emiratization The UAE government has issued a federal decree-law amending specific provisions regarding the regulation of employment relationships in the ‘UAE Labour Law’. The decree is part of the UAE’s ongoing efforts to further develop its legislative and legal framework. It aims to ensure the efficiency and competitiveness…
The country supports the implementation of international regulations that hold countries accountable for developing AI tools that could cause harm or destabilisation The UAE Cabinet has approved the country’s official stance on global artificial intelligence (AI) policy, stating how the technology should be used and what its goals and priorities are. The nation’s position includes supporting the implementation of international…
FTA issues new decision postponing deadlines for corporate tax return filing. Image Courtesy: Federal Tax Authority Demonstrating its Commitment to Supporting Taxpayers Abu Dhabi, UAE – In a demonstration of its commitment to supporting taxpayers in fulfilling their Corporate Tax obligations, the Federal Tax Authority (“FTA”) has announced the postponement of the deadline to file a Tax Return and settle their…
This card serves as an official proof of employment and is also an important form of identification. In the UAE, all employees are required to have a labour card, which is issued by the free zone they work in or by the Ministry of Human Resources and Emiratisation (MoHRE). This card serves as an official proof of employment and is…
The Ministry of Human Resources and Emiratisation (MoHRE) has called on private sector companies employing 20 to 49 workers to expedite efforts to hire at least one Emirati citizen this year, advising against delaying until the end of the grace period, which concludes at the end of 2024. This follows the Cabinet’s decision to expand the scope of companies targeted…
The UAE has introduced a new Federal Mental Health Law, which came into effect from May 30, 2024. This new Mental Health Law is focused on managing the treatment and protecting the rights of psychiatric patients. It also affects how employers and employees deal with mental health issues. Here are the key points: The Mental Health Law applies to people…
The best corporate compliance officers evolve from the narrow, danger-focused vision of a canary in a coalmine to the expansive, guiding perspective of a lighthouse, enabling them to identify wider angles and navigate the best routes to shore. As corporate compliance professionals, we are invited by the business to foster the courage necessary to remain outcome-focused in ambiguous situations. Being…
Although penalties are not in place in emirates other than Abu Dhabi, there have been speculations that the market is moving towards a more well-organised direction. Several advertising and marketing agencies in the UAE are now ensuring that the influencers they work with are licensed. This comes as Abu Dhabi announced that it will penalise those who conduct social media…
