Category: Legal Updates
The Kuwait Competition Protection Agency (CPA) Fines Steel Distribution Company 250,000 Kuwaiti Dinars
The Kuwait Competition Protection Agency (“CPA”) officially handed down its first sanction since being granted substantially sharper teeth under the new competition law no. 72 of 2020 (“CPA Law”). On 7 November 2022, the CPA...
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Change is the law of life (New UAE Civil Procedure Law No. 42 of 2022)
The changes taking place this year concerning civil procedure law in the United Arab Emirates (“UAE”) is not the first in line when it comes specifically to this law. The civil procedure law has been...
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The 2023 UAE Tax Regime – Corporate Tax
Introduction: The UAE’s Federal Decree-Law No. 47 of 2022 (“Corporate Tax Law” or “CTL”) was published on 9 December 2022, which will become effective on 24 December 2022. Set to apply for tax periods for...
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UAE New Laws for 2023
How can GLA help: GLA & Company’s lawyers and consultants have extensive expertise across the region and are without a doubt qualified to advise on applicable laws and regulations in the UAE. For further information,...
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Recent Developments in Family Businesses: New Legal Framework in the UAE
In the Middle East, family businesses of all sizes have been dominating the region for many years even though most of the jurisdictions here lacked the proper regulations. To address this point, the United Arab...
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OVERVIEW OF THE KUWAIT LITIGATION PROCESS (CIVIL/COMMERCIAL)
Introduction The Kuwait judicial system is comprised of a recognizable three-tier system: Court of First Instance (composed of the Small Claims Court and the General Court); Court of Appeals; and Court of Cassation If an...
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FAMILY OWNED BUSINESSES GOING PUBLIC IN KUWAIT: A NEW TREND?
Background Throughout the GCC, family-owned businesses are looking at various succession planning techniques to ensure survival through their third and fourth generations. Increasingly, many families in the region are exploring the option of conducting an...
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The Fundamentals of ESOPs & LTIPs for UAE Listed Companies
Many of the UAE-listed companies are actively considering or implementing either a long-term incentive plan (“LTIP”) or an employee share ownership plan (“ESOP”) in a bid to keep and retain their most valuable assets, which...
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Kuwait Implications on the Dissolution of the DIFC Arbitration Institute
Pursuant to the Government of Dubai’s issuance of Decree No. 34 of 2021 (the “Decree”), the Dubai International Financial Centre (the “DIFC”) Arbitration Institute, which includes the DIFC-LCIA Arbitration Center, and the Emirates Maritime Arbitration...
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