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Find out moreThis comprehensive guide is designed to help you navigate the intricate landscape of family business and private wealth in the Middle East, where family businesses constitute approximately 60% of GDP and employ 80% of the workforce in the GCC, offering unparalleled opportunities for wealth creation and preservation.
Packed with insights, strategies, and expert advice from our talented lawyers, Legacy provides tailored solutions to the unique challenges of asset protection, succession planning, and dispute resolution in this dynamic region.Read the publication and equip yourself with the knowledge and tools necessary to thrive, whether you’re a seasoned investor, a family business owner, part of the next generation, or a newcomer exploring opportunities in the region.
Read NowIn its continuous efforts to encourage investment and support the economy in the Emirate, the Government of Abu Dhabi have launched a total of 16 initiatives under “Ghadan 21” which may substantially benefit SMEs, current investors and startups. Although these initiatives have been published by way of announcement rather than law or decree, the announcement stated that these initiatives will be enforced with immediate effect.
Also included are water and electricity subsidies for citizens, and commercial and industrial activities, as well as all exemption of vehicles from road tolls until the end of 2020.
According to the announcement, these initiatives are as follows:
These exemptions are valid until the end of 2020.
Given that the announcement was published on 16 March 2020, the mechanism through which these initiatives will be implemented is still unclear. Furthermore, it is also unclear whether or not a law or decree will follow to provide further details on the implementation requirements of these initiatives.
Hassan Al Jarrah
Head of Corporate Structuring – Abu Dhabi
h.aljarrah@tamimi.com
Khaled Aloklah
Associate, Corporate Structuring
k.aloklah@tamimi.com
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