While it is common knowledge that laws in the Middle East include restrictions on foreign parties doing business that do not apply to citizens, progress has been made in recent years to facilitate foreign investment and participation in businesses in the region. Kuwait was a pioneer in this regard, with the promulgation of the Foreign Direct...
In recent years Saudi Arabia has committed to a series of wide-ranging reforms that aim to diversify the economy; foster a more open and connected society; and establish a transparent, efficient and accountable government under the country’s Vision 2030 strategic framework. With those objectives in mind, there have been numerous legislative developments related to real estate...
Saudi Arabia’s Capital Market Authority (CMA) approved updated corporate governance regulations (CGRs) for joint-stock companies listed on the Saudi Stock Exchange (Tadawul) in February 2017, and amended them in May 2019. The new CGRs reflect efforts to enhance the competitiveness of the Saudi exchange to investors. The regulations set...
Bahrain’s new Law for the Encouragement and Protection of Competition (Competition Law) was published in the Official Gazette on July 19, 2018, and its provisions – with the exception of Chapter 2 – came into effect on February 1, 2019. Chapter 2 establishes and relates to the Authority for Encouragement and Protection of Competition, and came...
Prior to 1971 the Sharia Courts had jurisdiction over all civil and criminal matters, as well as personal status matters in the sultanate of Oman. However, after the succession of Sultan Qaboos bin Said Al Said, the judicial system was reformed in the sultanate, and Sharia Courts currently only govern matters relating to family disputes and...
Taxation in Oman is the responsibility of the Ministry of Finance (MoF) and the Secretariat General for Taxation. The framework is mainly governed by the following laws:
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