Cybersecurity compliance certainly isn’t simple. There are countless acronyms, hundreds of controls, and many organizations find themselves completely overwhelmed. This week we explain what Cybersecurity is, and why Cybersecurity Compliance Programs are needed.
Read MoreIn recent years, even prior to the global Covid-19 pandemic, there has been an ongoing integration efforts between Middle Eastern countries and the US, UK and Europe. The pandemic, with its shared economic concerns for all nations, has served to highlight the importance of this integration and to illustrate the power of cooperation between nations.
In the post pandemic era, which heralds the threat of large scale global economic and social conflict in light of the Russian invasion of Ukraine, many governments are struggling to balance budgets, maintain economic competitiveness, and fund their activities. Therefore, many governments are trying to make their economies more attractive to investors, in order to encourage businesses to settle in and remain within their borders.
Read MoreConference of Parties (COP 26) is the 26th climate change conference that was hosted by the UK in partnership with Italy. The COP 26 was originally scheduled to take place in November, 2020 in Glasgow, UK, but was postponed for one year due to the COVID-19 pandemic. Ultimately, it took place between 31st October 2021 and 12th November 2021.
Read MoreThis week the US Department of Justice announced that it recovered US $4 bn worth of stolen bitcoin, which was taken from the platform Bitfinex in 2016. The stolen cryptocurrency was obtained from the platform via hackers who engineered around 2000 unauthorized transactions in 2016. The amounts were recovered through the accounts of the alleged money launderers Ilya Lichtenstein and Heather Morgan. The duo are also facing charges for their alleged money laundering activities.
Read MoreThe Attorneys, consultants and advisors at Borderless Counsel work with clients of all sizes and at different stages of development. In particular, we work with our clients to negotiate, structure, and complete international transactions which improve the competitive position of our clients. We look to add value to our client’s business models, and help them to attain sustainable growth. This week, we explore how our services add practical value to the functioning of our client’s businesses.
Read MoreEffective 1 January 2022, the United Arab Emirates (UAE) has changed its workweek from Sunday to Thursday (5 day-week) to a four and a half day week, with the weekend being from Friday afternoon to Sunday. The new working week applies to all Federal Government departments effective 1 January 2022. This week we explain how this new working week has been implemented in the UAE, and the possible implications of this approach to work.
Read MoreManaging large transactions and business deals can be a daunting task. For startups and SMEs who may not have access to a full fledged accounting and legal team, oftentimes key areas of major deals are overlooked. We endeavor to help you solve this problem, by providing you access to top professionals, who maintain the skills needed for the management and success of financial transactions. Even if you’re not looking to acquire professional services at the current time, it is important to consider the below listed areas in any sizeable business deal you pursue.
Read MoreWith a new surge of covid cases being witnessed across the globe, many individuals who need to travel may be wondering about what kind of restrictions or rules they will need to prepare for before and after they get on their flight. Therefore, in this week’s blog post, we summarize some of the major restrictions being put in place across some major travel destinations and jurisdictions, to help the reader get a flavour of how the pandemic is being handled across the globe. Do note, this blog is for informational purposes only, and travel restrictions are quite fluid. Therefore, the reader should re-confirm any information provided below from official sources, and should not rely on the information provided here alone.
Read MoreOn November 27, 2021, the Federal Decree-Law No. 45 on the Protection of Personal Data (PDPL) was enacted. This new law is the first comprehensive federal data privacy and protection law to be adopted UAE wide, and it aims to create a legal framework that ensures the effective governance of the management and collection of personal data. The PDPL brings the UAE's federal data protection regime in line with modern global data protection and data privacy standards, including EU's GDPR.
Read MoreToday Bitcoin and other popular cryptocurrencies are increasingly being used for cross border money transfers outside the control of government authorities. Some retail banks also are testing cryptocurrency as an exchange method. However, no global consensus on regulations governing the transfer of funds using cryptocurrencies exist at the current time. This regulatory issue increases compliance costs and opens the door to miscreants looking to circumvent regulations by moving to jurisdictions with no or weak compliance controls. In this blog post, we have tried to explain money laundering and anti-money laundering laws (AML), Know Your Client/KYC requirements and their role in AML, as well as AML in relation to cryptocurrency transfers. We also take a look at money laundering in the context of cryptocurrency use.
Read MoreThis week we explain cryptocurrency, explaining what it is, how it functions, how it serves as an investment, and the legal and financial risks associated with it (including fraud, volatility and money laundering).
Read MoreOver the past years, we have helped a number of clients with alternate dispute resolution, with the help of practitioners in Canada, the US, Europe, and the MENA region (UAE and Bahrain). Therefore, this article consolidates some key takeaways and lessons we have learned in this process.
Read MoreThe economies in the Arabian Gulf continue to get back on track after the major setback the pandemic has brought upon the world. The resilience shown by the Government of the GCC countries and the spirit of the people make it an attractive investment hub . This week, we highlight some of the recent amendments to the laws of various GCC countries, which allow foreigners to own businesses with fewer restrictions.
Read MoreRecent years have seen sweeping reforms in labor protection laws, as Gulf States make efforts to attract and retain foreign talent. In the UAE, many professionals and celebrities are being offered “10 year golden visas”. In addition, the UAE and Bahrain allow service based professionals (as well as other businesses) to set up companies with 100% ownership. One reform which will assist workers across the board, and which may improve workplace equity, is the wage protection system.
Read MoreWe all know that the aviation industry has always played a crucial role in our transportation, but 2020 was a difficult year for the aviation industry with unbelievable losses. However, when many airlines had their fleets parked, some airline companies still managed to close their books with profits or break even.
Read MoreFor individuals wishing to work and settle in Canada, there is often confusion surrounding how and when a person is allowed to come to Canada to work in a job, either through a third party employer, or their own business. In this article we will discuss the Labor Market Impact Assessment process briefly, as well as some types of visas which are exempt from this process.
Read MoreThe COVID-19 pandemic has disrupted business operations in all industries globally. The first of all industries affected was the airline industry resulting in a full-scale global transportation crisis. Despite positive signs and prospects for recovery, COVID-19 remains an existential crisis for airports, airlines and their commercial partners.
Read MoreFinding the most suitable source of capital for your company may be challenging without adequate knowledge. When starting a business you must consider several funding methods to ensure you have a stable cash flow when revenues are not consistent or constant during the early days of your venture. According to studies, about 50% of new businesses fail within the first five years of being established, and in most cases financial instability is the main reason for shutting down. This week, we will give you three startup business funding ideas to help you grow your company. We will also discuss pros and cons associated with each of these approaches.
Read MoreThis week we provide you with a comprehensive guide to European visas and travel, in preparation for any summer trips you may be planning. The current situation in the EU and Europe is fluid and subject to change, depending on the severity of the pandemic. However, there are signs that tourism and travel to Europe will become easier in the near future.
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