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Find out moreWe are excited to share the latest edition of the Law Update, beautifully and appropriately titled “Sustainable Horizons: The Saudi Arabian Vision.” Giving special honor to the Kingdom’s 2030 vision, this update focuses on a collection of both informative and inspiring articles.
For those in construction, you can learn about how the tendering environment impacts risk-pricing for contractors, the updates on the legal framework of the construction industry and how contractors can protect themselves against financial difficulties.
There is good news too from the kingdom’s banking sector, from which the practice of “Open Banking” is being pushed for! But what is open banking? We’re answering that too.
Also . . . Are there any women trail blazers in Saudi Arabia you can name? We’ll help you with that. We cover how the Middle East has been making strides in empowering women in the entrepreneurial space,most notably in STEM fields.
Read the full editionWe would like to remind you regarding the following items at Abu Dhabi Global Market (“ADGM”):
What does this mean for my business?
It means you need to make sure at least one of your authorised signatories is a UAE resident.
What does this mean for my business?
It means you need to maintain a UBO register for your ADGM entity, file it with the ADGM Registration authority, and update your current UBO disclosure as needed.
What does this mean for my business?
It means you should verify if your ADGM business is required to register under the UAE VAT Law and if so, carry out the registration.
What does this mean for my business?
It means each year you need to (1) complete the Annual Filings and (2) make the Ad Hoc Filings if the relevant triggering circumstances occurred.
Our team of experts would be delighted to help you regarding your ADGM UBO compliance, VAT registration obligations and filings requirements.
Hassan Al Jarrah
Head of Corporate Structuring – Abu Dhabi
h.aljarrah@tamimi.com
Nasouh Raslan
Associate, Corporate Structuring
n.raslan@tamimi.com
Xavier Solanes
Associate, Tax
x.solanes@tamimi.com
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