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Saudi Arabia: Transformation of the Kingdom
Welcome to the Saudi Arabia focus edition of Law Update.
One of the key markets in the Middle East and North Africa (MENA) that continues to lead from the front is the Kingdom of Saudi Arabia (KSA). As the largest country in the Middle East and the 18th largest economy in the world, the progress KSA continues to make is underpinned by its Vision 2030 that envisions developing the country as an investment powerhouse and hub that ultimately connects Asia, Europe, and Africa. Given Saudi Arabia’s significance to the regional economy, our team of experts have prepared a range of pertinent articles that provide insights into new laws, regulations, and the legal landscape in the Kingdom.
This edition will provide you with an up-to-date guide on matters such as; the framework issued by the Saudi Central Bank on IT governance, the anti-corruption landscape under Vision 2030; we also provide practical tips for dispute avoidance. This is only a snapshot; there are many more articles within the KSA focus section for you to read, which we hope you will find valuable and enjoyable.
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A complete spectrum of legal services across jurisdictions in the Middle East & North Africa.
DIFC Foundations – Tested Waters
Watch a short video by Izabella Szadkowska, Partner, highlighting some key benefits of the new DIFC Foundations Law here.
Since March 2018, when the Dubai International Financial Centre (“DIFC”) Foundations Law (DIFC Law No. 3 of 2018) came into effect, there have been a number of foundations registered in the DIFC.
What Have We Learnt?
Since the introduction of the Foundations Law we have learnt details of the incorporation process, explored various ways of addressing client needs under the charter and the by-laws of the foundation and brainstormed the use of a DIFC foundation for various types/classes of assets.
How Can We Help?
Our team will be delighted to assist you in registering and securing ongoing compliance of a Foundation by:
- Assisting you with the incorporation process;
- Advising on matters such as Foundation objectives and assets;
- Advising on the composition and powers of the Foundations bodies;
- Drafting the tailor-made charter and the by-laws of the Foundation; and
- Providing registered address for the Foundation.
For Further Information Contact:
Samer Qudah
Partner, Head of Corporate Structuring
Izabella Szadkowska
Partner, Corporate Structuring
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