Archive for category: Uncategorized

Introduction of new origin of import rules in the Kingdom of Saudi Arabia

On 2 July 2021, the Saudi Arabian Minister of Finance introduced a new set of national rules of origin by virtue of Ministerial Decree No. 3852, dated 02 July 2021 (22/111/1442). The new rules include additional conditions to be met by Gulf Cooperation Council (“GCC”) products imported into Kingdom of Saudi Arabia (“KSA”) to benefit from the GCC preferential treatment based on the GCC Unified Economic Agreement.

In this article, CROWE provide the highlights of the new set of rules and its possible impact on UAE companies.

Click HERE to download the GCC Article: New Origin Rules in KSA

100 Percent Foreign Ownership in the UAE – First Steps

Starting June 1st, 2021, a large number of commercial activities can be pursued without a mandatory UAE national majority shareholder.

The aim of MEYER REUMANN & PARTNER’s article is to take a look at first impressions and provide an outlook of what to expect and what to do going forward.

Please download the full article HERE.

100% foreign ownership in the UAE companies (mainland / onshore)

Recently, there have been major clarifications announced by the UAE government in relation to 100% foreign ownership in the UAE mainland companies.

The long awaited procedural clarifications have started to flow in. For Crowe’s latest snapshot of the situation so far CLICK HERE.