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German Legal Expertise in the Middle East since 1981

Vol.XV – Issue 2, Apr. 2011 – Articles

Review of
Legal News of the Gulf

PDF Version

Virtuzone – UAE’s latest Free Zone

Guiding Principles
Virtuzone is the very latest Free Zone in the UAE and at the same time Fujairah’s newest free zone concept. The new free zone focuses on companies in knowledge-based industries such as media, marketing, advertising and consulting. It is designed to assist small companies and individuals to open their new business in the UAE within 10 days with minimal fees and absolute transparency.

Egypt after Mubarak, An Economic Outlook

Guiding Principles
This Article is discussing the status of the Egyptian economy after the 25th of January 2011 revolution, and its effects on business.

Severance Payment based on the Iranian Labour Law

Guiding Principles
Labour law in Iran governs the employment of people working and living in Iran. The comprehensive Labour Law covers all labour relations in Iran, including hiring of local and foreign staff. The Iranian Labour Law is employee-friendly. Labour disputes are settled by a special labour council in the Ministry of Labour and Social Affairs. Any person who works in Iran is subject to the provisions of the Labour Law and in case of termination of employment, employees are entitled to receive severance payment.

Free Trade Zones in Sultanate of Oman

Guiding Principles
Oman, in an aim to diversify its non-oil revenues and investments into the economy, began establishing Free Trade Zones (FTZ) at the beginning of 2000. The FTZ which gives investors free access to industrial infrastructure along with the option of 100 per cent repatriation of their revenues, began boosting international trade relations and Foreign Direct Investments (FDI).

World Cup 2022 will boost the economy in Qatar

Guiding Principles
The winning bid for the 2022 FIFA World Cup™ has catapulted Qatar to one of the economically and financially most expectantly countries in the world. Naturally Qatar in particular, but also its Gulf neighbours will highly benefit from the event. The high hopes and expectations are well-founded; the hosting of one of the largest competitions and sports event in the world is a catalyst for development and expansion in the economy and will entail huge investment projects to build stadiums and associated infrastructure including but not limited to rail, air and road, hotel and tourism. This will attract foreign investors who are eager to be part of the economical growth of Qatar.

King Abdullah Spending US$ 128 Billion in Benefits for the Saudi Citizens

Guiding Principles
After the return from a medical treatment trip to the United States and Morocco on February 23rd, 2011, King Abdullah has issued several orders on convergent times aiming to improve life standards of the Saudi citizens. The orders includes handover cash grants directly to the Saudi citizens, raising the capital of the Real Estate Development Fund, raising the capital of the Saudi Credit & Saving Bank, raising the capital of the Public Authority for Housing – that was before announcing the establishment of the Ministry for Housing after about a month later, the set up of an Anti-Corruption Agency.

New Draft Patent Law in Syria

Guiding Principles
Syria has recently started to develop its regulations on Intellectual Property Rights in order to join the International Protection and Trade Agreements. Therefore, a new draft patent law in Syria has recently introduced amendments on legislative Decree No. 47 of 1946 concerning patent protection.

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