Hourani & Partners is proud to announce that we have been awarded “Tax & Trust Law Firm of the Year” at the prestigious Asian Legal Business (ALB) Middle East Law Awards 2024 hosted by Thomson Reuters. This recognition marks our second consecutive win in the category, underscoring our continued commitment to delivering exceptional service in…
On October 16, 2024, Hourani & Partners and Jipyong LLC jointly hosted an insightful seminar focusing on Saudi Arabia’s evolving business environment. The event aimed to foster cross-border collaborations between South Korea and Saudi Arabia, bringing together business leaders and legal experts from both regions. Key presentations from Hayel Hourani, Managing Principal and Zain Satardien,…
As the UK’s non-domicile tax reforms take effect in April 2025, high-net-worth individuals are rethinking their tax strategies and seeking more favorable jurisdictions. Dubai has quickly emerged as a top choice, offering 0% personal income tax, no capital gains tax, and a regulatory framework designed for long-term wealth preservation. Our latest guide, “From Big…
On 16 August 2024, the Saudi Standard, Metrology and Quality Organization (SASO) announced a new Product Safety Law. The law is set to come into effect on 14 November 2024, with SASO poised to unveil the Executive Regulations around the same date. While many products sold in the Kingdom are governed by technical regulations…
The Saudi Data and AI Authority (SDAIA) has announced the much-anticipated amended Regulation for Personal Data Transfer outside the Kingdom (ARPDT), published in Umm Al Qura on 1 September 2024. Issued pursuant to the Personal Data Protection Law (PDPL), It came into effect on the same date, but controllers are still under the grace period…
A common misconception about the UAE tax landscape is that individuals in the UAE are in all instances not subject to any taxes. However, the Federal Decree Law No. 47 of 2022 on Taxation of Corporations and Businesses (the Corporate Tax Law) is in fact a tax on business or business activities, and thus also…
As part of its Vision 2030 reform agenda, Saudi Arabia has introduced a new Investment Law, aimed at enhancing its attractiveness to international investors. The updated investment law (the New Investment Law) and its implementing regulations, which will come into effect in early 2025, will repeal the current Foreign Investment Law issued by Royal Decree…
On 6 August 2024, the Saudi Arabian Ministry of Human Resources and Social Development (“MHRSD”) announced the Cabinet’s approval of amendments to the Labor Law. The proposed amendments were originally published for public consultation in 2020 with implementation being delayed due to the COVID-19 pandemic. The amendments will take effect 180 days from their publication…
On 1 May 2024, Federal Law Decree No. 51 of 2023 concerning Financial Restructuring and Bankruptcy (the “New Law”) came into effect in the UAE. The New Law repeals Federal Decree-Law No. 9 of 2016 on Bankruptcy (the “Old Law”). The New Law introduces significant changes for creditors and debtors by providing a framework where…
Hourani & Partners have received recognition across multiple key practice areas in the IFLR1000 Middle East Rankings for 2024. As a leading commercial law firm in the Middle East, Hourani & Partners has once again been ranked for its M&A practice in both the UAE and KSA. Additionally, this year the firm has been…