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Find out moreWelcome to the first edition of Law Update for 2025. As we begin this exciting year, we are pleased to turn our attention to one of the most dynamic sectors in the UAE and the broader GCC region – healthcare. Over the past several years, the region has seen unprecedented growth in this sector, driven by legislative advancements, technological innovations, and the increasing focus on sustainability and AI. As such, healthcare is set to be one of the most important sectors in the coming decade.
In this issue, we explore key themes that are significantly shaping the future of healthcare in the UAE, such as recent changes in foreign ownership laws. These reforms present a major opportunity for foreign investors, opening up new avenues for international collaborations and improving the overall healthcare infrastructure. The changes in ownership laws are an important milestone, and we provide an analysis of what this means for the industry and the various players involved.
Read NowOn January 14, 2023, the Amir of Kuwait has approved a law to amend Article 24 of the Kuwait Commercial Law and Article 31 of the Public Tenders Law allowing foreign companies to establish branches in Kuwait and conduct business without the necessity of a local agent.
Article (24) of Decree No. (68) of 1980 regarding Commercial Law has been amended to allow a foreign company to establish a branch in Kuwait and carry out its work without the need for a local agent.
Further, Article (31) of Law No. (49) of 2016 regarding Public Tenders has been amended (without prejudice to Law No. (1) of 2016 and Law No. (116) of 2013) to allow foreign bidders to be exempted from having a commercial registration in Kuwait and the need of having a local agent, which means that foreign companies are now allowed to apply for a tender in Kuwait and execute it without a local agent or the need to set-up a company.
We expect that this law will be followed by detailed executive regulations to address the particulars of such a law and its consequences especially from employment and sponsorship perspective.
The law is expected to be officially issued in the Kuwait Official Gazette by Sunday 21 January 2024.
This law will be a game changer for foreign companies doing business in the country and we hope that it will encourage foreign investment.
Al Tamimi & Company’s Kuwait office is well-versed in advising on Corporate Commercial and Corporate Structuring matters, as well as supporting clients in meeting compliance and regulatory obligations in Kuwait.
We are available to offer additional information on this recent development and can assist your organization in navigating the new regulatory landscape.
To learn more about the details of this alert, please reach out to one of our key contacts.
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