Blog – N R Doshi & Partners

UAE – Abu Dhabi Global Market publishes Healthcare Regulations 2022

Now onshore healthcare legislation applies also to ADGM entities On 11th January 2023, the ADGM published the news (on its official website) about the new ADGM Healthcare Regulations 2022. These Healthcare Regulations adopt the Abu Dhabi onshore healthcare legislation, including the regulations and circulars that the DoH (Department of Health) issued into ADGM’s legislative framework. Key Points of the Healthcare…

International: Economic Substance Requirements for MNE groups in Low-Tax/Zero-Tax Jurisdictions

Multinational companies with subsidiaries in low-tax or zero-tax jurisdictions must consider the economic substance they have in these jurisdictions. ESR Legislation in Low-tax Jurisdictions The authorities have fined companies for failing substance rules in jurisdictions with low or zero corporation tax. Many jurisdictions had to implement ESR rules to comply with the requirements of the OECD Forum on Harmful Tax…

Important FAQs for Emiratization rules in the UAE

What is Emiratization? The UAE authorities have started an initiative called Emiratization. As per this initiative, it is mandatory for employers in the public and private sectors to recruit UAE nationals. The main objective of Emiratization is to increase local contribution to UAE’s economy through the active hiring of UAE nationals. Although the public sector in the UAE has made…

ADGM Launches New Mediation in the Metaverse Service

On 11th November 2022, the Abu Dhabi Global Market (ADGM) Arbitration Centre launched the world’s first – mediation in the metaverse service. This service aims to transform the delivery of mediation worldwide. International and local parties can benefit from these mediation services and get a virtual space for mediation. Using innovative Web3 technology, this service allows parties to access 3D…

Simplify Tax Returns, Payments & Submissions with EmaraTax

The FTA (Federal Tax Authority) has made unprecedented announcements in the past few weeks. Most recently, the FTA announced its decision to launch the EmaraTax platform on 5th December 2022. The migration process will start on 30th November 2022, and the EmaraTax platform will be fully operational by 5th December 2022. The migration to the EmaraTax platform will coincide with…

How Do UAE Courts Recover Money from Bounce Cheque Defaulters?

The UAE authorities recently introduced new reforms concerning bounced cheques through the Federal Decree Law no 14 of 2020. The revised law improved the Federal Decree-Law No. 18 of 1993 in connection with business transactions (Commercial Transactions Law) and the UAE’s legal code. Earlier Position and New Amendments The UAE government has made notable changes to the punishment related to…

Red Flags for AML & CFT

Money laundering is a heinous crime. It hurts organizations in many ways. Acts of money laundering and tax evasion smear the company’s finances and reputation. Criminals launder millions of ‘dirty’ money every year. Money launderers are constantly devising new methods to circumvent the law. You will be shocked to learn that money laundering activities cost the world 2% to 5%…

New Penalties Law for Errant Onshore UAE Companies 2023

UAE Cabinet’s Newly Introduced Penalties Last month, the UAE Cabinet implemented Cabinet Resolution No. 102. This Cabinet Resolution concerns the Administrative Penalties Regulations that aim to address violations of the Provisions of Federal Decree-Law No 32 of 2021 (for Commercial Companies). According to the Penalties Law, UAE onshore companies that violate certain provisions of the UAE Federal Decree-Law No. 32…

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