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Find out moreWelcome to the first edition of Law Update for 2025. As we begin this exciting year, we are pleased to turn our attention to one of the most dynamic sectors in the UAE and the broader GCC region – healthcare. Over the past several years, the region has seen unprecedented growth in this sector, driven by legislative advancements, technological innovations, and the increasing focus on sustainability and AI. As such, healthcare is set to be one of the most important sectors in the coming decade.
In this issue, we explore key themes that are significantly shaping the future of healthcare in the UAE, such as recent changes in foreign ownership laws. These reforms present a major opportunity for foreign investors, opening up new avenues for international collaborations and improving the overall healthcare infrastructure. The changes in ownership laws are an important milestone, and we provide an analysis of what this means for the industry and the various players involved.
Read NowWith reference to Article 17 of the Federal General Budget Law for the years 2023, 2024, and 2025, specifically Paragraph Six – A, the Ministry of Trade hereby mandates that all registered companies must utilise the IQ domain. This directive is to be carried out in collaboration with the Communication and Media Commission. Additionally, companies are required to establish postal boxes in conjunction with the General Post and Savings Company.
You are required to visit the Media and Communication Commission to reserve a website domain ending in (.iq), and to approach the General Post and Savings Company to set up a postal box. These actions must be completed within a maximum period of thirty days from the date of this notice. Failure to comply will result in the company not receiving any legal responses.
Please refer to the list of postal offices where these services are available here.
Should your company wish to renew its license or receive specific letters addressed to other departments, the Registrar will only process such requests once the aforementioned instructions are met. The Registrar of Companies (ROC) will send all notifications to the designated postal box.
These changes will be effective from the date of publication on October 5, 2023.
As the leading law firm in the Middle East & North Africa Region and with strong corporate structuring experience across all industry sectors in the region, Al Tamimi & Company is well placed to assist you in assessing the impact of these legal changes on your organisation and assist you in achieving compliance with them in Iraq.
To learn more about our services and get the latest legal insights from across the Middle East and North Africa region, click on the link below.