#licence

Regulations for VASPs GettyImages-1366240594

Virtual assets: Why VASPs should stay on the right side of the law

The UAE is ushering in a new era of regulatory oversight for virtual asset activities. We speak to Karm Legal Consultants about what this means for virtual asset service providers

artificial intelligence and Web3 licences

Dubai’s DIFC to issue artificial intelligence and Web3 licences

The Dubai AI and Web 3.0 Campus is a dedicated campus for AI and Web3 innovation and will provide physical and digital infrastructure within the DIFC Innovation One new premises

Bahrain unveils new visa

Bahrain unveils new ‘golden licence’ to attract investors

The new licence is part of an economic recovery plan launched by the Gulf state in October 2021 to boost investment and job creation

Heriot-Watt University Dubai

Heriot-Watt University Dubai receives initial institutional licensure by UAE MoE

The university’s graduates will now be able to pursue further degrees in CAA-accredited universities on completion of programme accreditation

Unit 3 of UAE’s Barakah nuclear power plant receives operating licence

The UAE is the first country in the Arab region to operate a nuclear power plant

Dubai

Dubai issued 24,662 new business licences in Q1 2022, up 58% y-on-y

Fifty-seven per cent of the new business licences issued were under the professional category and 43 per cent were commercial

Abu Dhabi

Abu Dhabi reports 21.5% growth in new economic licences in 2021

There were 24,077 commercial sector licences issued in 2021, up 21.4 per cent year-on-year

New artificial intelligence and coding licence launched in Dubai

The licence offered by Dubai International Financial Centre can also serve as a gateway to obtaining UAE Golden Visas

Dubai fintech firm iBloxx gets DMCC crypto trading licence

The firm designs AI and machine learning algorithms to manage active trading models for crypto commodity markets

Emirati employee

Emirati members of Dubai SME to get up to seven-year exemption on licence fee

The fee exemption applies to registered Emirati members who have not completed the five-year period

Dubai Land Department fines 10 real estate companies, warns 30 for non-compliance with advertising laws

Each fine starts at Dhs50,000, and may escalate leading to cancellation of the licence of the violating real estate company

Wine glasses

Abu Dhabi scraps need for individual alcohol licence

Residents and tourists will be permitted to buy and possess alcohol from licenced retail shops

Aramco backs New York fintech firm offering Islamic investments

Wahed Invest got the financing from Saudi Aramco Entrepreneurship Ventures unit as part of a $25m funding round