Insights

Ministry of Finance Issues New Ministerial Decisions Relating to Corporate Tax
Ministry of Finance Issues New Ministerial Decisions Relating to Corporate Tax
June 2, 2023

The UAE Ministry of Finance consistently introduces a series of new Ministerial Decisions under Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses. These decisions have a collective objective of bolstering the regulatory framework governing corporate and business taxation in the UAE. By offering clearer guidelines… Read more

Ministry of Commerce and industry (MOCI) decision number 82/2023
Ministry of Commerce and industry (MOCI)...
May 21, 2023

The Ministry of Commerce and Industry (MOCI) issued Decision No. 82/2023, targeting small companies engaged in activities of private nature without employees, physical commercial premises, and without the need for regulatory approval from any authority other than the MOCI. This decree aims to provide support and incentives to such businesses.… Read more

In Review: Companies’ Spinoff in Kuwait
In Review: Companies’ Spinoff in Kuwai...
April 26, 2023

The Kuwaiti Minister of Commerce and Industry amended under Resolution No. 60/2023 (MOCI Resolution) specific provisions of the Kuwait Companies Law No 1/2016 (“Law No 1/2016”).  By virtue of the MOCI Resolution, provisions addressing companies’ spinoff were introduced. Under this note, we will explain the purposes of the MOCI Resolution,… Read more

What Will MOCI’s Decision No. 4/2023 on UBOs mean for Foreign Investment in Kuwait?
What Will MOCI’s Decision No. 4/2023 o...
March 20, 2023

I. An overview of money laundering A. Money laundering’s connection with financial transactions Countries throughout the world have passed laws criminalizing individual or organized criminal acts locally and internationally. These crimes generate illegal revenue and criminals feel the need to clean the revenue to appear legitimate. Therefore, criminals seek to… Read more

AE deadline for transition to fixed-term employment contracts extended
AE deadline for transition to fixed-term...
January 30, 2023

On 2 February 2022, the Federal Decree-Law No. (33) of 2021 on the Regulation of Employment Relationship (UAE Labour Law) came into force. The UAE Labour Law requires, pursuant to its article 68 (2), that all employers convert any existing employment on an unlimited term contract to a fixed term… Read more

A New Law on Family Companies in the UAE
A New Law on Family Companies in the UAE...
December 22, 2022

A family-owned business maybe be one of the oldest form of business organization in human history. In the GCC, the business environment has developed exponentially to the extent that there are large corporate businesses which are owned and managed by single families. These businesses play a significant role in the… Read more

Relocation of Regional Headquarters to Saudi Arabia
Relocation of Regional Headquarters to S...
December 6, 2022

In the announcement of the strategic goals of Saudi Arabia’s capital entitled “the Future Investment Initiative Riyadh 2030” on 15 February 2021, the Saudi government established new requirements whereby international companies are required to relocate their regional headquarters (RHQ) into Saudi Arabia in order to access government tenders and contracts… Read more

Firm news

Meysan provides advisory services to ALLUB Industrial Company in the acquisition of 100% stake of Al Aber Global Industrial Company
Meysan provides advisory services to ALLUB Industrial Company in the acquisition of 100% stake of Al Aber Global Industrial Company

Meysan Partners’ Riyadh office provided advisory services to ALLUB Industrial Company, a subsidiary of a large Kuwait based group (“Allub”), regarding the acquisition of 100% stake of Al Aber Global Industrial Company, a leading group operating in transformative industries and construction services in Saudi Arabia. The planned acquisition was executed… Read more ...

Meysan Dismisses Claims Over $100 Million Against Global Automotive Company.
Meysan Dismisses Claims Over $100 Million Against Global Automotive Company.

The Meysan team has secured another monumental legal victory. Spearheaded by Dr. Abdulwahab Sadeq and Senior Counsel Tarek Diab, the team represented a global automotive company and a local dealer in a legal dispute with their former local agent, who demanded various compensations amounting to approximately one hundred million US dollars. Despite the… Read more ...

Meysan advised UPayments in the sale of 51% of its shares to NBK
Meysan advised UPayments in the sale of 51% of its shares to NBK

20 February 2024, Kuwait City, Kuwait - Meysan Partners played a key role in advising UPayments, a prominent online payment solution provider, on the sale of a 51% stake to the National Bank of Kuwait (“NBK”). This strategic transaction underscores UPayments' remarkable success in the burgeoning Fintech industry, where they have… Read more ...

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Salma Abdelaziz
Senior Associate, EGYPT

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Salma Abdelaziz
Senior Associate, EGYPT