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German Legal Expertise in the Middle East since 1981

Vol. XX – Issue 3, Jul. 2016-Articles

Review of
Legal News of the Gulf

PDF Version

Business and Investment Opportunities and the Prospects for a Trade-Cooperation between Iran and Europe – Three Iran Seminars in Germany Oct./Nov. 2016

Guiding Principles
Iran Seminars seem to have become a frequent occurrence nowadays. Meyer-Reumann & Partners (M&P), however, have taken an unique approach: Seven experts out of and from Iran, carefully selected and appointed by the Iranian Government itself will stand in the focus of M&P’s Iran seminar concept. So interested parties have the chance to face-to-face contact for explanation and discussion of possibilities and options of business relations in and with Iran directly from the source.

Current Legal Developments in UAE

Guiding Principles
The deadline set by Federal Law No. 2 of 2015 on Commercial Companies (New CClaw), pursuant to which all corporate entities in the UAE had to amend their by-laws until no later than 30 June, 2016, has now been extended by one year to 30 June, 2017.Dealings with public authorities have become more difficult, often leading to our Clients’ daily legal transactions taking significantly longer to complete.

New Law Allows 100% Foreign Ownership in Bahrain

Guiding Principles
The government of Bahrain approved a new law giving foreign investors the opportunity to have full ownership of various business assets in the market. The landmark ruling was approved at a cabinet session led by Prime Minister Prince Al Khalifa.

Commercial Agencies and Distributorships in the Islamic Republic of Iran

Guiding Principles
There is no specific law that regulates commercial agencies or distributorships in Iran. Nevertheless, a considerable amount of commercial transactions are conducted by agencies and distributors in Iran and the general rules on representation and the terms of the agreement, concluded between the principal and the agent/distributor, are governed.

Full Foreign Ownership in the Saudi Trading Sector

Guiding Principle
As part of its plan to diversify the economy, the Saudi Cabinet decided to allow 100% non-Saudi owned companies to practice trading in the country. The decision abandons the previous requirement allowing only joint-ventures with a local share of no less than 25% to take part in that field. With the aim to transfer the country into an investment powerhouse, the decision is to attract multinational wholesalers and retailers to enter or expand their investment in the Saudi market. This came as part of the Saudi government’s efforts to face the challenges emerged because of the drop at the global energy prices, the main source of income for the Kingdom.

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