Arabia Saudí

Artículos Recientes

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  17/12/2024

  Middle East region

  Oman's New Advocacy and Legal Consultancy Law Introduces Significant Reforms to the Legal Profession

  Oman promulgated its new Advocacy and Legal Consultancy Law (Royal Decree No. 41/2024) (the Law), marking a transformative moment for the regulation of legal services within the Sultanate. This long-awaited reform introduces substantial changes that impact both local and international legal practices in Oman. The Law will enter into force in six months, with existing firms given one year to comply with its requirements.Impact on the Legal MarketThe new Law represents a substantial shift in Oman’s legal landscape, particularly in terms of raising the bar for qualification, increasing accountability...

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  12/12/2024

  UK, Middle East, UAE

  Challenging calls under on-demand securities: the fraud exception

  A recent decision of the Qatar International Court, applying English law principles, has ordered revocation of a demand under an on-demand guarantee on grounds of fraud. English law takes a robust approach to enforcement of on-demand securities and will only injunct demands alleged to be fraudulent in the clearest of cases. This decision shows how evidence of contradictory positions taken by a beneficiary can be used to mount a successful challenge based on fraud.The fraud exceptionEnglish law allows only very limited grounds on which to challenge calls under on-demand securities issued by banks...

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  10/12/2024

  International

  Construction contracts and choice of law for non-co­n­tra­c­tual obligations: risks and opportunities

  Non-contractual claims can in certain circumstances provide additional rights of action which are not otherwise available under a construction contract. The ability to choose the law governing such rights therefore provides an opportunity to employers and contractors to influence the extent to which such claims can be brought. A growing number of countries now permit parties such a choice, either through their domestic conflict of laws rules or as part of their arbitration law. In this Law-Now, we provide a summary of the relevance of non-contractual claims to construction disputes and some recommendations...

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  28/11/2024

  International

  CMS’s insights on COP29 themes

  The discussions at COP29 Azerbaijan show how difficult it is to achieve global environmental goals. CMS lawyers have been reflecting on the themes of the conference in short videos and articles, housed on the CMS COP29 hub.A summary of CMS’s coverage is below and if you’d like to hear directly from the CMS COP29 delegates, now home from Baku, please join their discussion on Friday 29 November by registering here: CMS at COP29 online sessionBridgett Majola reflects on the need to align climate finance contributions with global needs and the current situation in Africa.Munir Hassan discusses...

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  25/11/2024

  International

  Pre-hedging: IOSCO publishes delayed Consultation Report

  On 21 November 2024, the International Organization of Securities Commissions (“IOSCO”) published a consultation paper in response to concerns about the appropriateness of pre-hedging practices raised by various market participants, standard setters and national and supra-national authorities. In short, pre-hedging is the well-established practice by which dealers in certain markets look to hedge their exposure to anticipated client orders for a number of reasons, including to enable the dealer to take on the risk of the client order once confirmed, and to offer a competitive price.BackgroundEuropean...

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  21/11/2024

  Middle East

  New Guide on Tax Residence and Tax Residency Certificates Application Procedure - Natural Persons

  On 18 October 2024, the Federal Tax Authority (FTA) released a Tax Procedures Guide TPGTR1 (the “Guide”) on Tax Residents and Tax Residency Certificate (“TRC”).The Guide outlines the criteria for determining when individuals or legal entities qualify as Resident Persons under the UAE Corporate Tax Law (the “CTL”) (as defined by Article 11(3) of the CTL), Tax Residents under UAE domestic law or Tax Residents under Double Taxation Agreements (“DTAs”) (as defined by Articles 3 and 4 of Cabinet Decision No. 85 of 2022).Tax residency rules in the UAEResident...

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