Jun 15, 2018 12:01 PMJHI wishes our many friends in the Muslim world a happy Eid al-Fitr. We hope you enjoy celebrating the spiritual, intellectual and human growth you and your families achieved during the month of Ramadan.We would also like to advise clients and friends who do not observe this holiday that, this year, the Eid holiday largely falls on a weekend in many jurisdictions (with certain exceptions such as, for example, public sector employees in Saudi Arabia, who will resume work on Sunday, June 24). Therefore, the ordinarily-expected office closures that customarily occur throughout the Middle East region during the holiday (particularly in the private sector), including JHI's Jeddah, Saudi Arabia office & other resources in the United Arab Emirates, should not cause a significant interruption of business activities this year.
May 17, 2018 11:05 AMTo all of our friends around the world who observe the Holy Month of Ramadan, we at JHI hope that you and your families enjoy a meaningful period of fasting, reflection and prayer. Those living and working in the Middle East, in particular, are experiencing historic - sometimes exciting, sometimes challenging - events that may well rapidly change the face of their entire region of the world. Looking ahead into the unknown can feel somewhat daunting. May your loved ones take the opportunity of this holiday to grow closer to each other, your neighbors, the less fortunate and the whole of humanity.We wish you good health & great prosperity in the year ahead. Ramadan Mubarak!
Feb 16, 2018 2:50 PMWith possible changes to US immigration law on the horizon, aspiring immigrants to the Land of Liberty may have a feeling of uncertainty at present. A tightening of legal immigration may be part of a deal in Washington, DC designed to address illegal immigration.It is impossible at the time of this writing to know exactly how immigration law will change, or if it will actually change at all. But, we do know of one immigration law that already meets the requirements of the US President, as publicly expressed during negotiations thus far, with a program that uses merit-based criteria and which provides economic growth: the law authorizing the issuance of EB-5 Visas to Foreign Investors.Under the law, Foreign Investors who invest a minimum amount of capital in such a way as to create and/ or maintain ten or more US jobs have the opportunity to apply for a Green Card through the facility of the EB-5 Visa program. The minimum level of capital the Foreign Investor has to commit is determined by the classification of the targeted region of the investment itself.
Participating in the resurgence of the greatest economy on earth while pursuing a credible opportunity to secure permanent residency status for you and your immediate family seems a double-win. The economic growth it generates while providing entry to entrepreneurial immigrants with substantial resources of their own would certainly seem to be good for America as well.If you are interested in investing in the US economy (either directly or through a reputable Approved Regional Processing Center) and seeking a Green Card, contact JHI today for more information on the EB-5 (Investor) Visa program -- firstname.lastname@example.orgWith offices in New York, NY & Jeddah, Saudi Arabia; and, additional on-the-ground resources available in the UAE, India and Singapore, JHI is in an ideal position to be of assistance and we will be happy to help.
Dec 19, 2017 6:30 PMThe Law Firm of JASON HUF INTERNATIONAL, pc (JHI) will close the doors of its New York HQ Office for the "High Holidays" of Christmas and New Year's Day starting Thursday, December 21, 2017 at 5:00pm.JHI will resume regular business hours on Tuesday, January 2, 2018. As usual, office visits in 2018 will be by Appointment Only.During the Holiday Season, the Jeddah, Saudi Arabia office and the Khalil Khazinar Law Firm will remain open. In the event of an urgent matter arising during the High Holidays, Mr. Huf can be reached directly by e-mail.From everyone at JHI, Merry Christmas!! And best wishes for a happy, healthy and prosperous New Year!
Dec 14, 2017 6:28 PMCommensurate with its Gulf Cooperation Council (GCC) obligations, the United Arab Emirates (UAE) will fully-implement the Federal-level imposition of a Value Added Tax (VAT) of 5% on most goods and services, and associated registration and reporting requirements, along with Excise Taxes on certain goods (50% on "fizzy drinks" & 100% on energy drinks and tobacco products), effective January 1, 2018.
Some industries are exempt from responsibility for VAT by statute, such as certain transportation services and basic healthcare providers. Real estate transactions within the first three years (thus far) of the law's enforcement are also exempt from VAT in the UAE.
Companies doing business in any of the Emirates who are not in an exempted industry and whose turnover exceeds the statutory threshold (AED 375,000 over a period of 12 months) were required to register for VAT by December 4, 2017, or face a penalty. In future, companies whose turnover does not yet exceed the statutory threshold will have to become compliant within one month of achieveing such turnover during a 12 month period. Companies who are not yet required to register and report for VAT may apply to do so voluntarily, provided their 12 month turnover exceeds AED 175,500. If a company anticipates exceeding the mandatory threshold in the future, then voluntary registration may be advisable so that a future 30 day deadline will not present potential difficulties.
Initial estimates are that approximately 350,000 companies will have registered for VAT in the UAE by the statutorily stipulated date. An exact figure is not yet available.
Reporting/ filing of returns will be performed on a quarterly basis. This may precipitate retaining Registered Tax Agents (and, JHI recommends that reporting companies retain such professional services).Naturally, being a new law, regulations, clarifications and other factors affecting implementation of and compliance with the new laws (UAE Federal Laws 7, 8 & 13 of 2017) remain subject to change at this stage. The UAE Ministry of Finance provides this page to provide basic information, timely updates and a starting point for researching and tracking the new tax regime:https://www.mof.gov.ae/En/budget/Pages/VATQuestions.aspx
One issue that begs for near-term clarification is the question of taxability of Free Zone entities. At the time of this writing, the responsibility for actual payment of VAT by entities established in Free Zones, including "Financial Free Zones" (such as the Dubai International Financial Centre, or DIFC; or, the Abu Dhabi Global Market, or ADGM), remains somewhat unclear. For example, following current guidance from the Federal Tax Authority (FTA), the agency with primary responsibility for the enforcement of VAT, such entities should be registered for VAT if their turnover exceeds the mandatory threshold. On the other hand, by Emiri decree (issued under a recent Constitutional provision), a 50 Year Tax Holiday has been established for the ADGM (measured from the effective date of the underlying law).
The UAE Cabinet has not yet issued its decision identifying any "Designated Zone" (wherein established entities may receive at least some partial or limited form of exemption from VAT) as the law empowers it to do, and the issue of responsibility for payment by companies in Financial Free Zones involves something of a Constitutional question. However, as stated above, it is hoped that additional clarifications may be issued by the relevant authorities in the near future. It is also worth noting that the FTA's determinations/ decisions can be challenged through the courts, provided there is a credible legal basis for such a challenge.
Being a brand new area of law, such gray areas are to be expected. The drafters of the new laws concerning VAT certainly seem to have expected this, as certain mechanisms - such as the ability to challenge FTA policy decisions in court - are built into the new tax regime to ensure transparency and fairness (important factors in any healthy business environment) as and when important issues are sorted.
Thinking more globally, one wonders what this may do to the famously business-friendly reputation the UAE has enjoyed for decades. After all, "the (tax-free) UAE is the Place to Be" in the Gulf region. JHI believes that the imposition of the VAT, in and of itself, will not severly impact the UAE's positive business environment.
The imposition of VAT is a GCC-wide program, agreed upon by the member states. The level of tax will be 5% across the board, and goods and services exempt from the tax will be similar almost to the point of being mirrored from jurisdiction to jurisdiction. Compliance steps and associated costs should be roughly equal in each of the member states. And, the timing of full VAT implementation in the member states should coincide (the Kingdom of Saudi Arabia, for example, is also introducing its new VAT in January of 2018). So, this should not significantly reduce the attractiveness of the UAE for investors, nor does it seem likely to impact the UAE's role as a gateway into the other GCC economies (such as Saudi Arabia - the largest economy in the GCC).
As a GCC member state, the UAE has agreed, and is obligated, to impose VAT. With recent fluctuations in the price of oil and the recent military build-up, in addition to the maintenance of basic services, additional revenues are needed to keep the national debt at a sustainable level.
The broadening of the UAE's economy in recent years has provided an opportune situation wherein the imposition of VAT (as opposed to other taxes and/ or fees) makes sense. On paper, it seems the best available method of helping to keep the UAE's fiscal ship steady. Although it will contribute an additional layer of expense onto the costs of living and doing business in the UAE, the UAE enforces no other tax and the compliance costs associated with the UAE's regulatory environment are among the least burdensome in the world. As to the pre-VAT cost of living and doing business in the UAE (such as real estate, some services and many goods), much of this is due to high demand brought about by a decades-long strong international interest in participating in the UAE market.
Further, the UAE, with a low-cost regulatory environment and a mere 5% VAT, seems poised to remain the gateway to one of the fastest growing regional economies in the world. JHI believes that for businesses who view the GCC as an attractive area for investment, the UAE will continue to flourish as a "starting-off" or set-up point for such investment, and at a time when the economies of the GCC may be poised for potentially explosive growth during a revolutionary time of profound reforms throughout the region, particularly in Kingdom of Saudi Arabia.
JHI will continue to monitor the situation, and track legal developments concerning the implementation of the VAT, in the UAE and throughout the GCC.(Mr. Huf gratefully acknowledges the contributions to this brief note by his good friend Sreekumar Radikrishnan of Goodwins Law Corporation's Abu Dhabi office. Mr. Huf calls Prof. Radhakrishnan his "top Go-To guy" in the UAE - especially on new tax matters: http://www.goodwinslaw.ae/about-us/our-team/sreekumar-radhakrishnan/
This website and its contents - taken in whole or in part - are a law firm advertisement. As with all other entries in the blog section of JHI's website, this article is intended to contribute to public discussion and is published for and distributed to a rather general audience. This article is not legal advice and should not be mistaken for such.
In the event legal advice is needed on the subject of VAT in the UAE, Mr. Huf & JHI will be happy to introduce and refer any such client to Prof. Radhakrishnan & Goodwins for his personal attention.
Finally, Mr. Huf also wishes to make clear that any opinions expressed herein are solely those of Jason Huf & JHI.)
Oct 12, 2017 2:05 PM
By R. Jason Huf
When recollecting the uses of my spare time as I sat down to pen my previously promised piece on fully utilizing the summer months to achieve Work-Life Balance goals, I realized that a simple "How I Spent My Summer Vacation" article would be insufficient. During the summer, indeed throught 2017 thus far, I seemed to gravitate to leisure activities that were relaxing and - sometimes - valuable beyond taking a mere breather for myself.
So, I have instead decided to include something in this writing about how time taken to relax, though not billable, can still be valuable - to ourselves and others. Indirectly, a more relaxed you is likely to be of greater help to your client. But, beyond that, there are activites that are relaxing, interesting AND enriching to your profession and society more broadly.
After all, a desire to influence and shepherd positive change is at least part of the motivation that drove us - and still drives us - along our respective career paths, isn't it?
I have always been public-service minded. This is reflected in my legal practice, wherein certain investments, projects and other client matters have over time and in the aggregate served as a small piece of a small piece of the large, complicated puzzle of establishing a foundation for economic and social reform in Saudi Arabia and the larger Middle East (parenthetically, I am pleased to see that today's reforms are more sweeping and are being enacted much more quickly than I had anticipated, or even hoped).
Accordingly, I often find "relaxation" and satisfaction when I can make time for pursuits that have some intrinsic (but, not necessarily obvious) value to the larger world around me. Take, for example, a presentation hosted by Oxford University's North American office on Manar al-Athar and its efforts to catalogue ancient sites in the war-torn Levant so that they can be preserved or (in the event they have already been or are going to be destroyed by insidious groups like Daesh) restored after the shooting finally stops. When "endangered" cultures become lost civilizations, it degrades the whole of humanity. I encourage you to give this group's efforts a fair look. And, hey, wine was served...
(Sometimes, to your surprise, you may get to meet fabulous people like the one pictued here. Also pictured, standing next to this fabulous person, is a member of the Hashemite Royal Family... )
(Attorney Disclaimer: NOT an endorsement of JHI by HRH!)
Whatever your line of work, your position as a professional provides you with access. In addition to being present at the above-referenced presentation, I'm rather excited to say that I have accepted an invitation to join the New York City Bar Associations's Committee on Middle Eastern & North African Affairs (MENA Committee). Then again, the MENA Committee has a pretty robust agenda, so I may end up regretting this...
Kidding aside, there aren't too many bar association committees in New York, Pennsylvania or New Jersey (the jurisdictions where I am admitted to practice) that specifically focus on subject matter so closely aligned to my practice, so in addition to being recognized for my work after so many years in the field, I am actually looking forward to the (non-billable) work ahead.
Now, I'm not saying that all of your spare time needs to be "meaningful", only that the added element of being satisfyingly productive in some measure may add to the value of your relaxing uses of the downtime you manage to carve out of your busy schedule. Different people have different interests and run at different speeds. I may be someone who has yet to take a real "vacation" at any point in my life, but I do not dispute the notion that relaxation for relaxation's sake is absolutely fine.
For those of you who have the discipline to make the effort to force yourself to take a vacation, more power to you. For the rest of us its enough of an endeavor to find forms of refreshment that are somewhat more limited in scope. But, no worries - it ain't that tough. Really!
Again, Pennsylvania is one of the jurisdictions in which I am admitted to practice. On occassion, I travel to Philadelphia on business. When I know I'm to make the short drive into Philly, well, being a long-time Philadelphia Phillies fan (and, you cannot be a Phillies fan without being a an of baseball period - trust me on that one) I like to catch an evening game when they are playing at home. Why not? I'm a phan, its the thinking man's sport, Citizens Bank Park is a great ballpark and I love Dollar Dog Day.
Also, this past year, the NFL Draft was hosted there (great event, and Philly did a fantastic job of hosting); and, the Philadelphia Orchestra celebrated the works of Mozart not very long ago - as part of that celebration, there was an opportunity to see a showing of the film "Amadeus" (one of my favorites), with the orchestra providing a live sound track.
(NFL Draft - Philadelphia, Pa.)
Some things can be done spur of the moment, without planning, and can be done by almost anyone, especially in New York. Catching the recent solar eclipse without special glasses was easily done by using my phone - I perched it over my shoulder and recorded a brief video. Anyone who could walk to Battery Park (or any open space where the sun was at least partially blocked by the moon that afternoon) could have done the same thing. Many did.
https://www.youtube.com/watch?v=SpdAcRPtZ8Y (As you can see, the Firm's YouTube Channel is still in the "experimental" stage)
When I lived in Jeddah, Saudi Arabia years ago, I took up snorkeling on the weekends and fell in love with the Red Sea and the coral reef beneath its surface. Some folks encouraged me to take up diving, but diving is a great deal of work. If what I do for recreation is more work that what I do for a living, I have something of a philosophical problem with that...
My dog can be a great deal of work (and, don't get a dog unless you are honestly ready, willing and able to do all of the work associated with sharing your home with a dog), but she is without question the exception to the above-referenced rule. When it comes to time well-spent, I am hard-pressed to think of anything more rewarding and relaxing than walking my dog.
Sometimes, I'll just call it an early day at the office and go out. Its New York, man - hit the town. Fridays tend to be ideal: the Middle East is closed on Fridays and the West is in the process of shutting down for the weekend, with businesses in London generally closing by 12:00 noon, US Eastern time (though, I must be mindful of places in other time zones, such as Houston, Texas, which is an hour behind New York). And, naturally, your employees won't mind being able to knock off a little early before the weekend, or will they...
("Seriously, you can leave... ")
In any event, I find that making time for yourself and your favorite people (or, pets) is not impossible - it really boils down to time management. I have also found that taking the occasional, but regular, breather won't kill the bottom line, can make you better at your job and (depending on the activity at hand) may even have the potential to make the world a better place. And, I feel like a million dirhams.
(This is what a million dirhams looks like... )
So, even with the cold winds of winter coming, ready to whistle through the concrete canyons of downtown Manhattan (and I hate winter) - I'm going to continue to make time for me. Since returning to the United States several years ago, I have ordinarily gone into hybernation every winter (absent JHI's Annual Informal Holiday Gathering), but not this year.
Why work so hard in the first place? I don't live to work, I work to live (and, my work is pretty darned good anyway, if I do say so myself). So, I'll work as hard as I play, and play as hard as I work. Maybe you should, too? Whether its rubbing elbows with royalty from an ancient noble line, or having a beer or two with your cheeseburger during an extra-long lunch. Hey, whatever floats your boat.
The bottom line is this: You have an epic and fabulous career, so Live an EPIC and Fabulous Life. There is no point to doing anything else.
I decided against supplying the entire list of extra-curricular activites because if I did you'd still be reading this instead of engaging in your own leisure pursuits (if reading this little blog is one of your leisure pursuits, well, I'm flattered).
Oh, and we all have to get some work in once and a while, too. OK, now back to the grind... : )
– Jason Huf
Thursday, October 12, 2017
New York, NY
Aug 31, 2017 5:51 PMJHI wishes our many friends in the Muslim world a happy Eid Al Adha holiday. To those able to perform Hajj rites, congratulations. We would also like to advise clients and friends who do not observe this holiday to expect delays in certain services due to office closures - particularly banks and government offices - throughout the Middle East region during the holiday, which is scheduled to begin at sundown on Friday, September 1, 2017.In the United States, to all those who labor, have a happy Labor Day weekend. JHI will keep its doors closed until Tuesday, September 5. In the case of urgent matters, Mr. Huf will be available remotely during the weekend, including Monday, September 4.
JHI ordinarily issues bills for professional services rendered during the previous month on the first business day of the following month. However, for only the second time in the Firm's history thus far, we will issue August's invoices on the second business day of the month (in this instance, September 5).
[ Never Forget: Liberty ALWAYS Rises ]
Per Firm custom, at 5:00pm on Thursday, September 7, JHI's NYC HQ will close again, this time in observance of the anniversary of the September 11th terrorist attacks on our country. We will reopen our doors on Tuesday, September 12.On September 11, we honor and remember those loved ones and fellow countrymen lost to sudden and senseless evil. But, there is never a day wherein we forget.
The best way to honor them, especially in New York - the greatest city in the world, is to LIVE (in every sense of the word). To that end, coming soon, we will publish Mr. Huf's report on a productive and enjoyable summer (well, really, a very good year thus far it seems) as part of our Work-Life Balance series. This will be followed by a note on the famously "tax-free" United Arab Emirates' imposition of a tax scheme, including a Value Added Tax and certain Excise Taxes. We also plan, in the very near future, to introduce JHI's new Youtube channel; and, provide on update on EB-5 (Investor) Visas & legal services related to applications for such.
(Another day at the office... Exploring the Boundaries of Your Business)
Watch this space. In the meantime, whatever you are celebrating and/ or observing over the next two weeks as summer comes to a close, we hope that it is meaningful and that you and your families enjoy it.
Aug 8, 2017 7:01 PM
By R. Jason Huf
Some of you may have obtained entry to the "Monastery" (as I've taken to calling my office) as and when business has required. However, for most of those reading this, I realize that I'm letting you in on a little secret: the advertised address of JHI's NYC HQ office is just a mail stop associated with a shared space & services operation on the 6th floor of good old 11 Broadway. To maintain my strict "No Pop-Ins" Policy, the exact location of the Firm Headquarters Office/ Monastery's actual physical presence is kept confidential, and that confidence is only breached when necessary.
Being able to advertise the mail stop as the office address, and the convenience of renting conference room space by the hour on the 6th floor, both enable me to concentrate on my work with minimal interruption. In addition to this "buffer", availing myself of the shared services when certain tasks need to be performed rather efficiently assists me with keeping costs down, which in turn contributes to my ability to maintaining hourly rates that are very competitive.
(As an old boss of mine used to say, "This is not the Fish Market"; but, with our competitive rates and innovative price structures, there may not be much need for you to bargain when seeking high-quality, world-class International Legal Services that your company can afford)
Perhaps most fundamentally to those of you (still) reading this piece, JHI can make available to your company the seamless provision of professional services spanning just about the entire legal prism, without having to figure massive overhead costs into our hourly rates (or more innovative billing arrangements). The outfit that runs the 6th floor operation only caters to attorneys, and many of these attorneys elect to house their firms and solo practices in physical office space on the site. Irrespective of the level of their arrangement, all who participate in some form or another are listed in a directory and, over time, some of us get to know each other reasonably well.
These attorneys practice in virtually every area of the law, and possess a variety of experience levels. In short, I have at my fingertips a storehouse of legal minds to draw upon, from commercial real estate specialists, to business litigators, to tax professionals - even a very smart fellow who focuses on energy trading. And, like myself, they tend to maintain a relatively unburdensome level of overhead costs, which in turn, permits them to be reasonable with their fees as well.
A few people still tend to think of my practice as rather narrow, until I dispell them of that illusion - JHI is a Commercial, Corporate, Energy & Banking law firm and we perform a wide range of services for clients hailing from a broad variety of industries. We just happen to have extensive experience in the Middle East, which may occassionally give rise to some folks instinctively thinking of JHI as a boutique servicing a particular "specialty" area. However, JHI's capabilities are even broader than I previously reasoned:
Between the NYC HQ, our Jeddah, Saudi Arabia Office, additional reources in the UAE (Abu Dhabi & Dubai) and access to Singapore and various major cities in India, JHI as a Brand is known as a capable provider of professional services in the Middle East and South Asia, ranging from company formation to arbitration, for those who have invested - or are looking to invest - in those regions in the world.
What JHI is not (yet) necessarily known for is our ability to assist businesses based in the Middle East and elsewhere with their expansion into the US "mega-market". Whether you are an individual foreign investor entering through the EB-5 Visa process, or a family-owned conglomerate of businesses looking to invest in US real estate, or a publicly traded company in Riyadh entering a joint venture, or a participant in the new US public-private partnerships designed to reform the nation's infrastructure, JHI is well-placed to help get you started as well as protect your US-side business interests down the road.
We have access to an entire network of intellectual assets encompassing a variety of practice areas ordinarily comanded only by big law firms, without having to factor "big firm" overhead into our fees. So, when investing from West to East, or East to West, consider the cost-effective but powerful option of contacting JHI for your legal needs.
Feel the difference and put our NYC HQ and affiliated Community of Attorneys to work for you in concert with our Jeddah office and/ or resources in the UAE, India & Singapore (wherever you're from!) as we help you and your company Explore the Boundaries of Your Business.
– Jason Huf
Wednesday, August 8, 2017
New York, NY
Jun 23, 2017 11:40 AMJHI wishes our many friends in the Muslim world a happy Eid al-Fitr. We hope you enjoy the celebration of the spiritual, intellectual and human growth you and your families achieved during the month of Ramadan.We would also like to advise clients and friends who do not observe this holiday to expect office closures throughout the Middle East region, including JHI resources in Saudi Arabia & the United Arab Emirates, during the holiday.
May 26, 2017 1:15 PMIn the United States, we set aside one day to remember those who have fallen in war, defending our freedoms. But, there isn't a single day wherein we forget. We hope that you and yours enjoy the holiday weekend, and that we all take a little time to say a prayer of rememberance and gratitude for our fallen heroes and their families this Memorial Day.
We all die, the only variables are where, when and how - and, sometimes, why. They may be gone, but our war dead are never lost. These soldiers, sailors, airmen & marines are forever in our hearts.
To all of our friends around the world who observe the Holy Month of Ramadan, we at JHI hope that you and your families enjoy a meaningful period of dedication to fasting, reflection and prayer during this period of tremendous changes throughout the Middle East. May your loved ones take this holiday as an opportunity grow closer to each other, your neighbors, the less fortunate and the whole of humanity.We wish you good health in the year ahead. Ramadan Mubarak!
Oct 12, 2016 2:38 PMBy R. Jason Huf
You know why you went to law school in the first place: You wanted to help people, change the world, "make a difference", be part of the solution... to whatever. Yeah, and you wanted to live a glorious, fabulous lifestyle at the top of the heap, respected by society and basking in financial comfort. What, no? Liar.When you finally graduated and passed the bar exam, your new professional qualification represented to you - at long last - the Keys to the Kingdom!
OK, so how's that workin' out for ya?
Now that I'm exactly one week into my latest attempt to quit smoking, and as the cold wind howls off the waters of the South Seaport and into the concrete canyons of Downtown Manhattan's Financial District, signaling the evaporation of yet another summer, I reasoned that penning my previously-promised piece on Work/ Life Balance would be timely.
(The cold wind cometh... )
You've devoted the first "better" half of your life to developing, well, a better life for you and yours.
Late nights at the office during the beginning of your career - part of the drill. No biggie.
More late nights managing junior fee earners once you become more seasoned - part of the drill, and "almost there". No biggie.
You're now a partner or solo practitioner and the near-constant focus is on client development; or a GC who is a company's responsible officer with a hand in everything from strategic decisions to managing the costs of outside counsel while demonstrating value for those costs; "sigh" - part of the drill, once the rain comes in steady, or I make it to the board of directors, its smooth sailing. No biggie.
Then... You've made it! Finally!! You're also 60 years old. Its over... Where did the time go and what was it for? It doesn't matter. Bye-bye. Oh yeah, and: No Biggie.
(No, my office doesn't look like this, either... )
Time is the one resource we can never obtain more of - only less. Every day. Whether we actually make good (or, any) use of it or not.
And, particularly with lawyers, once we become good at something in our field - whatever your practice areas - those things tend to become routine. Eventually, routine becomes routine. We go through the motions, the excitement of "changing the world" goes away, and its the same old same old that one cannot get away from for even the smallest amount of time, because we've got to do that billable work so we can pay those bills. Joy.
("Seriously, I went to law school for this?")
I worked for years to build my reputation as "Mr. Middle East". However, there are no more revolutionary Shari'ah-compliant financing products to help invent, no more reforms to educational systems in different parts of Arabia. Doing client work that, in some small way, may someday help to generate a broad-based, self-sustaining middle class in the Middle East is more or less over with. Moving forward, whatever happens there is pretty much already in the cards. All too often, I arrive home at 1:00am or so, pet my dog, and think of something along the lines of "Another fast food franchise on Hamdan Street... " or "Another oil refinery in the middle of some dusty nowhere... " followed by the usual "Yay. Who cares."
That's not good. A steady supply of "Bread and Butter" is nice to have, but when its all you have, things can get pretty damned dull. When we get to the point when our work day is up to 16 or even 20 hours a day some days, 5 or 6 days per week, and we no longer care about what we're doing, much less have a passion for it, then this invariably leads to the most dreaded word in the legal lexicon. The "B Word"...BURNOUT!!!
Like many in our profession, I've always been something of a minor league insomniac, so why not work late into the night, anyway? I've done some of my best thinking at 10:00pm. Of course, this means I won't be able to decompress to the point where I can sleep until 3:00am, and that's not good when you have to wake up at 6:00am.
Professional and personal dissatisfaction, as well as chronic exhaustion and "no life syndrome", are common among lawyers. And, there's no way out: you've already invested too much into your career, and your life (or, mere existence, such as it may be) is already half over anyway.
Not necessarily! The good news is, if you're good at your job, your success partially stems from your possession of excellent time management skills and your adept ability to prioritize tasks. Put those skills to work and carve out some free time - make "having a life" one of those tasks which you prioritize on a regular (well OK - semi-regular) basis.
(R&R - fit in in!)
We are in the business of being effective counselors who help our clients, be they individual or corporate clients. If you're not being good to yourself, its only a matter of time before you're not being as good as you could and should be for your clients.
I began this summer thinking it was time for "Mr. Middle East" to make full use of his time and status (OK, "Mr. Middle East" may not be lofty to the point of august, but it is kind of snazzy... ). And, then, I proceeded to more or less waste my entire summer. So, what's one summer? No biggie.... Wrong. Its a "biggie". Given my visceral dislike of winter, its effectively the waste of an entire year. Enjoying anything in the cold, wet, sharp, biting wind of the winter months takes considerable effort - and, anything that requires so much effort to "enjoy" is, definitionally, unenjoyable.
At my age, a year's worth of waste is waste I can ill-afford. I will never permit that to happen again - and, neither should you.
Necessary late nights will happen. That cannot be helped. But, working late for the mere sake of making "valuable" use of your waking hours misses the real value of time.
You - and your clients - can withstand you taking an evening, or even an entire day, off. Working from home once in a while isn't the end of the world, either. Trimming that commute time off of your schedule can make a heck of a difference, and technology makes working from home easier than ever.
In managing your time and prioritizing your tasks to make room for an actual "life", don't just take advantage of good weather as and when the seasons of the year allow, but make the most of the location where you are based: whether you've planted your flag in New York, Philadelphia, London, Jeddah, Abu Dhabi, Tampa, Florida or Ashville, North Carolina, you live in one of the great cities of the world - make the most of it. Its practically a sin if you don't!
In New York, where I chose to locate JHI's HQ, I am a subway ride from some of the most exciting entertainment on earth, and walking distance from several quick, pleasant distractions.
(The World-Famous ROCKETTES!!)
Whether its taking a few hours one evening to enjoy the spectacle of the world's greatest precision dance troupe at work, or a stroll through battery park after your afternoon nap, a brief refresher could actually increase the quality or your work while not severly limiting the amount of time available for work.
In addition to a bit of exercise, a proper diet doesn't hurt, either...
Taking an obscenely long lunch at a comfortable, but not too over-priced, local eatery may be just the ticket when looking for R&R opportunities that will make your thoughts sharper, more clear and faster but more thorough. You won't be able to send your client the bill, but perhaps you should given the subsequent improvement in your performance that results from taking a nice, relaxing breather...
("I wonder if they still serve those off-menu parmesean fries... ")
You can also combine business with pleasure. For example, in line with my loathing for winter, during the bitter months of January and/ or February, I am considering taking a tour of the Middle East and South Asia where the weather will be perfect at that time of year, to visit the Jeddah, KSA office as well as possible expansion points for JHI in the jurisdictions/ markets of the United Arab Emirates (Abu Dhabi & Dubai), Singapore and India.
Well, I gotta go - I've always wanted to date a Rockette and that's not going to happen by itself, nor will I be able to make it happen while sitting within the four walls of my office.
For now, remember: being good to others first requires that you be good to yourself. Although its easier said than done, "Don't Live to Work, Work to Live" - get back to living the life you intended to live when you started this journey. It comes down to good time management and shrewd prioritization. If you have run out of professional challenges, perhaps find one or two new challenges in your travels. And, there is one more thing that anyone can do, everyone should do more often, it doesn't cost you anything or require additional time, and if you do it more often, it can make a world of difference:
- Jason Huf
Tuesday, October 11, 2016
New York, NY
Sep 9, 2016 11:44 AMThis is one day of the year all of us set aside for remembering, but there is never a day when we forget.
As with dates officially deemed "National Holidays", JHI's New York HQ Office - per annual Firm tradition - will be closed for business this Monday, September 12, in observance of the 15th anniversary of September 11, 2001.Just as JHI is proud to perform work that may make some small contribution to what, some day, may be the development of a broad, self-sustaining middle class in the Middle East, JHI is honored to be a witness to the resurgence of downtown Manhattan. The Financial District's magnificent comeback is best symbolized by our neighboring Liberty Tower:
September 11 will be a day of remembrance and reflection for us all. JHI will resume offering high-quality professional services on Tuesday, September 13.JHI also wishes our many friends in the Muslim world a happy Eid Al Adha holiday. We would also like to advise clients and friends who do not observe this holiday to expect delays in certain services due to office closures - particularly banks and government offices - throughout the Middle East region during the holiday, which is scheduled to begin at sundown on Sunday, September 11.
Jul 5, 2016 2:41 PMJHI wishes our many friends in the Muslim world a happy Eid al-Fitr. We hope you enjoy the celebration of the spiritual, intellectual and human growth you and your families achieved during the month of Ramadan, despite the challenges to peace and security during the Holy Month this year. We would also like to advise clients and friends who do not observe this holiday to expect office closures throughout the Middle East region during the holiday.JHI will continue its expansion in the region and hopes that, even as they mourn those lost this past week, the good people of Medina, Jeddah and elsewhere in the Kingdom celebrate God-given life and its highest pursuits.
In the United States, we celebrated the 240th anniversary of our Independence on July 4. These past several weeks have seen barbarity at its worst. With specific reference to the terrorist attack at Medina, we in the Land of Liberty, irrespective of faith, stand with and pray for the innocent victims of that atrocity. Everyone has a right to freedom from terror.
While the savage primitives of ISIS/IL are strongly suspected of coordinating the attack in Medina and other places throughout Saudi Arabia, no group as of the date of this writing has claimed responsibility and the motives of the suicide bomber in Medina are as yet unknown. It was nonetheless a murderous act of barbarity that the whole of the civilized world must reject. ANY "cause" served by the use of Terror as a tactic must, summarily, be deemed illegitimate.
Further, when terrorism is employed, the actors betray their so-called "cause" to be nothing more than a pretext for a war of conquest. This is the reality civilized people across the globe must face with the determination that any such enemy will be defeated and placed in history's rubbish pile, along with so many other would-be tyrants of the past.
Jun 6, 2016 11:28 AMTo all of our friends around the world who observe the Holy Month, we at JHI hope that you and your families enjoy a meaningful period of dedication to fasting, reflection and prayer during these historically challenging times. May your loved ones take this holiday as an opportunity grow closer to each other, your neighbors, the less fortunate and the whole of humanity.
We wish you good health in the year ahead. Ramadan Mubarak!
May 25, 2016 1:50 PM
By R. Jason Huf
Its been quite some time since JHI's last Note or Comment, but that doesn't mean that there hasn't been anything to write about. And, its certainly too much to write about all at once.
With Ramadan just around the corner, should the usual business cycle associated with the Holy Month and High Summer come about, I will make maximum use of the time and write more often:
April was a pretty busy month, inside the office and out. Saudi Arabia's "Vision 2030" was unveiled by Deputy Crown Prince Mohammed bin Salman on April 25. JHI will provide analysis of the KSA's plan for a "post-Oil" economy, and any changes to the laws of the Kingdom resulting therefrom. We will also continue to track legal developments elsewhere in the Gulf region.
Also, as UN Representative for an NGO, I enjoyed the opportunity of hearing United Nations (UN) Secretary-General Ban Ki-moon speak about the UN's Sustainable Development Treaty, the Sustainable Development Goals, and what the private sector (including the Legal Community) can do to help achieve those goals. This was followed by attending several open forums at the UN, and hosting a talk on 'Conflict Minerals' with an expert on the subject.
I also moderated two very successful Continuing Legal Education panels, one on the Foreign Corrupt Practices Act (FCPA) and the other an Ethics course on Attorney "Branding" for international practitioners.
Almost forgot! In March, I had the pleasure of hosting a New York State judge who discussed the Qatari Commercial Courts after returning from his experience teaching new, young Qatari lawyers in Doha.
More recently, after months of deliberations and conversations with colleagues and others I respect, I have come to a decision on JHI's future in the Middle East - and, beyond.
[ for some of the backstory, click here ---> ].
Further details concerning our expansion of capabilities and services, as well as the other topics outlined above, will be distributed in due course.
In the meantime, Happy Memorial Day -- enjoy the start of summer!
- Jason Huf
Wednesday, May 25, 2016
New York, NY
Mar 1, 2016 5:43 PMBy R. Jason Huf
It is with great pleasure, and not without some sense of humility, that I announce my appointment as Representative (Observer) to the United Nations (UN) by the New York County Lawyers' Association (NYCLA), a Non-Governmental Organization recognized by the UN.Observers have access to certain sessions and other events covering a wide range of topics, and I hope to put this exposure to the best possible use of NYCLA and the legal community as a whole. Naturally, my own focus will be on the Middle East and topics important to those involved in the region, from Womens' Rights (and, Human Rights generally) to Banking, Energy, International Corporate Governmence and Trade.
Of course, I am not a "One Man Army" -- I am working
with a terrific team of dedicated professionals, and I
expect great results as we report back to our
colleagues on issues of importance to international
legal practitioners and other concerned classes of
This is an opportunity - and, an honor - that I am
committed to making the most of as our civilization
marches ahead into an age of rapidly-changing times that
may require some thought be put into changing legal
constructs.And, hey, you can't beat Fun...- Jason Huf
It goes without saying that I will provide a report or two via this space as well. Thank you for your continued interest.
Tuesday, March 1, 2016
New York, NY
Oct 23, 2015 3:25 PMIn a somewhat pioneering step, the United Arab Emirates (UAE) is close to finalizing an Insolvency Law modeled after Chapter 11 of the United States Bankruptcy Law.
The devil will be in the details, but here is what we've heard thus far:
Under the supervision of a UAE court, a distressed company that successfully files for such protection will be able to restructure its debt with outstanding creditors;
The law may include some degree of decriminalization of issuing dishonored, or "bounced", checks (cheques, for our British friends); and,
The overarching goal of this legislation is to improve the business environment by removing (or, at least, mitigating) some of the uncertainty of risk that may arise when investing in a country which may be rich with disposable income, but which is still "developing" - where the economy, laws and political system are still rapidly evolving.
The extent to which such protections would be available to companies with some element of foreign ownership remains unclear. However, if it is well done, this new Insolvency Law could prove to be a significant long-term development for the economy of the UAE, and (perhaps) the Gulf Cooperation Council region more generally.
With the election of a new Federal National Council, one might anticipate final passage of the new Insolvency Law soon. Perhaps. Inshallah. More to come...
Sep 18, 2015 11:13 AMJHI wishes our many friends in the Muslim world a happy Eid Al Adha holiday. We would also like to advise clients and friends who do not observe this holiday to expect delays in certain services due to office closures - particularly banks and government offices - throughout the Middle East region during the holiday, which is scheduled to begin on the evening of Wednesday, September 23.
Jul 17, 2015 1:11 PMJHI wishes our many friends in the Muslim world a happy Eid al-Fitr. We hope you enjoy the celebration of the spiritual, intellectual and human growth you and your families achieved during the month of Ramadan.
We would also like to advise clients and friends who do not observe this holiday to expect office closures throughout the Middle East region during the holiday.
Jul 10, 2015 2:09 PMBy R. Jason Huf
When the Saudi government decided to ramp up the production of light, sweet crude oil and crash the price of it world-wide, the first thing most people in the United States (quite rightly) noticed was the sharp decline in the price of gasoline. It’s the best break working people in America have enjoyed in a long time, and has generated economic growth that no artificial government “stimulus” program can ever hope to match.
Middle East practitioners like myself, on the other hand, immediately understood two things: 1. the increase in production was designed to dampen the profitability of energy projects, particularly by oil & gas producers in the United States – which, in turn, helps to continue to make the maintenance of stability in Saudi Arabia a priority for Western countries and their oil-dependent economies; and, 2. it was a direct attack against the cohesiveness of the Kingdom’s arch-enemy, Iran, and some of its anti-Western allies such as Venezuela and, particularly, Russia (all three countries having economic models with price floors for oil that are unsustainable in the current environment).
Iran's desperate economic situation notwithstanding, they have lashed out and struck back on a variety of levels and are emboldened by recent victories in Yemen, Iraq and Vienna. Iran is increasingly aggressive in the region, and Saudi Arabia is feeling ever distant from the United States. As to the fear of a regional arms race stemming from the unabated existence of the Iranian nuclear arms program, such an arms race is already underway.
Keenly aware that the balance of power in the Middle East continues to swing in favor of Iran and that the United States is decreasingly interested in serving as the region's chief guarantor of security in the region, the Arab states may feel that they are in a desperate situation themselves. Let us not forget, that the despicable and barbaric terrorist organization ISIS/ ISIL was originally cobbled together with the support of Turkey and Qatar to serve as a hyper-radicalized Sunni buffer against encroaching Shia (Iranian) power. The Saudi move to create an oil supply glut and the joint Saudi/ Egyptian military operations against Iranian clients in Yemen seem, thus far, insufficient to halt Iranian momentum.
If the present trend continues, a direct region-wide conflict between Saudi Arabia, Egypt, Jordan, et al vs. Iran and Syria seems more likely, not less.
We live in an era when asymmetrical warefare that utilizes non-uniformed combatants targeting civilians to engender fear and instability so as to achieve a political or otherwise socially relevant end (e.g., "terrorism") has become a regular feature, turning cities well behind the lines of a given conflict into battlefields themselves. What do you do when you are a business that has invested in a region wherein the situation has become so uncertain?
Well, that depends on the industry you are in, how much risk you (and your insurance providers) are willing to absorb, and what kind of talent you think you can attract to work in such an environment.
As for myself, I remain committed to my relationship with Jeddah. The Jeddah office consists of local personnel, I have spent years developing my practice, and I have never been one to simply throw away the fruits of my own hard work. At present, my inclination is to stay the course.
In fact, having considered this contingency for some time, I am currently leaning toward expansion, rather than withdrawal. I feel it may soon become time to further live up to my firm's catch phrase - and, follow my natural instincts - and explore.
Whereas some firms may be examining their options on executing an exit strategy, I am exploring the possibility of expanding into new jurisdictions and expanding the range of assistance I can provide to Western companies that remain in the region.
As an attorney, your practice is client-driven. Some companies will stay, some will leave and new businesses will enter one or more Gulf Cooperation Council markets. There will continue to be a need for Western legal expertise working hand-in-hand with local practitioners throughout the region.
Perhaps more fundamentally, I am proud of the work I have done over the years. From assisting with Shari-ah-compliant finance to education reform, I have been a small piece of a small piece in the jigsaw puzzle of helping to foster an environment wherein one may someday see a broad-based, self-sustaining middle class in the Middle East.
This sense of accomplishment will be foremost on my mind as I look toward Exploring the Boundaries of My Own Business...
– Jason Huf
Friday, July 10, 2015
New York, NY
Jun 18, 2015 11:55 AMTo all of our friends around the world who observe the Holy Month, we at JHI hope that you and your families enjoy, and gain real value from, the meaningful aspects of an entire month dedicated to fasting, reflection and prayer - especially during these somewhat unsettled times. May your loved ones take this holiday as an opportunity grow closer to each other, and humanity generally. We wish you good health in the year ahead.
Nov 25, 2014 5:53 PMArbitration clauses are often heavily negotiated and complex enough to be referred to as “a contract within the contract”. The reasons for this are obvious (even to us transactional practitioners). The exact terms of a dispute resolution clause can have far-reaching consequences.One of the goals in crafting such a clause is to mitigate the irreconcilability of disputes as they arise by putting your client in the best possible position in the event of a scenario that triggers termination and subsequent arbitration. Naturally, both sides have this in mind during negotiations. But, what happens in jurisdictions where the enforceability of arbitration clauses may be considered by some, fairly or unfairly, to be a somewhat unsettled question?Until recently, while the Kingdom of Saudi Arabia (or, KSA) has been a member to the New York Convention (on the enforcement of arbitral awards), this did not always lead one to predict with certainty that a Saudi court would recognize the validity of the arbitration clause in your agreement with a local party and direct that party to resort to arbitration, as per your agreement. In the past, senior judicial officials and other legal professionals in Saudi Arabia have on occasion issued public pronouncements that arbitration clauses are contrary to Shari’ah and are therefore invalid, and should not be enforced by Saudi courts.That is to say, in Saudi Arabia you may have had the right to enforce an arbitral award granted by a tribunal (keeping in mind the difficulty some may experience in attempting actual collection in the Kingdom), but such public pronouncements may have lead some to wonder if you could successfully assert that the underlying dispute be entered into arbitration in the first place (in the KSA), depending on whether or not the judge in the Saudi court deciding the question deemed your particular arbitration clause (or, arbitration clauses generally) to be appropriate under, or contrary to, Shari'ah.
Today, some are hopeful that the passage of the KSA's new Arbitration Law of 2012 (based on the UNCITRAL Model Arbitration Law) to supplant the KSA Arbitration Law of 1983, and the creation of judicial training centers and the subsequent appointment of judges to serve in a new commercial court system in the KSA, will lead to greater clarity on the subject of the enforcement of arbitration clauses. As with any legal reform, time will tell.In the neighboring United Arab Emirates (UAE), the considerations differ. The validity of the arbitration clause, the formation of the contact, and the nature of the relationship between the parties themselves are just a few of the considerations that a court could measure in weighing the enforceability of a given arbitration clause.
Any Emirati national (individual or corporate) has the right to avail itself of the protection and justice of the courts of the UAE. In the past, this may have prompted some local parties in the UAE to move that a local court should assert jurisdiction, despite the existence of an arbitration clause. It should be said, however, that in the UAE (a commercial hub in the Gulf region that has become famous for the "City of Dreams", Dubai, and increasingly the "Green Emirate" of Abu Dhabi), such motions should rely on more than this basic right if a party wishes to succeed in its attempt to escape arbitration under a valid clause.
Following certain provisions of the UAE (federal) Civil Code, judges in local courts should hold that validly written arbitration clauses are enforceable, except when there exist particular circumstances. For example, in disputes arising from registered commercial agency agreements a judge may deem an otherwise valid arbitration clause unenforceable and declare it void on the grounds that clauses calling for alternative dispute resolution (or, ADR) in such contracts are contrary to, or inconsistent with, "Public Policy". (Please note: the commonly used, colloquial term "sponsorship agreement" is much broader and could refer to several different types of business relationships in the UAE; whereas, "registered commercial agency agreements" refers to a specific type of business relationship, which must also be properly registered with the relevant government office in accordance with both the law and the terms stipulated in the agreement itself.)So, what do you do when doing business internationally, and some of your relationships are with parties in the Middle East?Negotiate an arbitration clause.
And, retain an experienced attorney with local knowledge (preferably one with a presence in the specific jurisdiction in question: the laws of Middle Eastern jurisdictions, like the laws of countries in other regions of the world, are subject to change).
If the local party with which your company is doing business has attachable assets outside of the Middle East in a country where collections may be deemed less frustrating, that can be a plus. But, as with just about everything else, there is no substitute for experience -- and solid, relevant legal experience may be one of your best assets at the negotiating table.
Oct 7, 2014 6:12 PMIn the Middle East, the old joke among Western lawyers goes something like this: “First you negotiate the contract, then you close the contract. And then, you renegotiate the contract… ”All good jokes are rooted in the truth. While there certainly are some local parties in the Middle East who are committed to keeping their word and sticking to the deal they negotiated, there does exist this unfortunately common dynamic wherein the local party will test, stretch and even flat-out ignore the terms of an agreement they just executed. One might even lose money betting against a breach occurring before the ink dries.And yet, throughout the Gulf Cooperation Council (GCC) region, billions of (US) dollars worth of business is successfully transacted each and every year by and between foreign and local parties. How does that work?It starts with understanding what local businessmen already know: going to court, dumping your local agent (or, colloquially speaking, your “sponsor”), etc, are usually your last best options. You can see your company effectively frozen out of the market if you make such a move without an almost perfect sense of deftness. And, even if eventually successful, should your company go this route, you have embarked on a long, aggravating and expensive disruption of business that will give rise to discussions that start with, “Why don’t we just pull out of there?”We will talk about arbitration clauses (and, the enforceability of them in GCC jurisdictions) in a subsequent posting. For now, you also need to understand that the local sponsor, or other local parties with whom your company does business, who busies himself with stretching the terms of your agreement is primarily (if not entirely) in the business of sponsoring foreign enterprises (or otherwise makes his money conducting business with foreign parties). Maintaining sponsorships or other replationships with foreign investors (and, protecting their reputations and pride) tend to be the top priorities of local companies. So, when such companies appear to breach their agreements, what do they hope to gain by playing around?Usually, more money. And, usually, not much more. More often than not, you can settle the matter by amending a couple of terms and (slightly) goosing up their sponsorship “fee” (or, whatever other payment, profit or compensation they may be receiving).What about the law of contracts? Why can’t I look for a new sponsor and/ or seek judicial recourse?Remember that the laws requiring you to obtain a sponsor in the first place are protectionist in nature. On an unofficial level, shopping around for more pliant for cooperative sponsors isn’t designed to be easy.Also, while consideration, reliance and other concepts are necessary to show a promise made in contract is enforceable under the laws of the United Arab Emirates (UAE), such is not the case to show the existence of an enforceable contract in Saudi Arabia (KSA). In the KSA, if you make a promise, you’re stuck with it.Isn’t the other side stuck with it, too???Well, in the Middle East, there is the law the way it is written, and the law the way its enforced. And, to further complicate things, that which is enforced is not always written, and that which is written is not always enforced. If you wind up in a KSA court, you may have a judge whose primary concern is sending a signal to his government, more than adjudicating a dispute between the parties before him. In the UAE, much may depend on whether the judge enjoyed his breakfast, or if he is miserable from a belly ache, as he reads your company’s brief… (And, keep in mind, the UAE imports its judges from other countries – those judges tend to be mindful of who gave them their jobs.)As to getting another sponsor, while the UAE and the individual Emirates therein may not employ “black lists” per se (as does the KSA), you should nonetheless do your best to avoid running afoul of bureaucrats at relevant ministries and other governmental offices who may have a cousin, friend, or other acquaintance who may just happen to be your soon-to-be former sponsor or other business partner/ associate. Business licenses have to be renewed every year, and your specific business may well depend on successfully bidding on government tenders; and, while Abu Dhabi and Dubai, for example, may look like big cities, they still very much operate as “small towns” on many different levels.That’s not to say successfully changing your sponsor and/ or winning a contractual dispute with a local party in the Middle East is impossible. Such has been known to happen in Abu Dhabi, and even in Jeddah (where arbitration clauses are less likely to be deemed enforceable by local courts, even though the KSA is a party to the New York Convention). Accordingly, you should protect yourself in the governing documentation the way you would in any other international agreement.Have the standard choice of law, venue, and language clauses, as well an arbitration clause (which can be something of a contract unto itself) and, especially, a (carefully written) termination clause. If an American-based company (or, even if you are based in another Western country but have operations in the US), make sure the documentation includes language concerning your refusal to violate the provisions of the US Foreign Corrupt Practices Act (over the last several years, the trend has been increasingly robust enforcement of the FCPA). American companies might also think to include a so-called “anti-boycott” clause in the agreement, given the on again/ off again enforcement of boycotts against Israel by some Arab states.Although the general mood in the GCC seems to favor a direction wherein the laws are being changed to relax the hold local parties (especially those deemed “sponsors”) have over foreign direct investment in their respective markets/ jurisdictions, it is usually best to try to renegotiate when a breach occurs. Such renegotiation should, generally speaking, settle upon a slight increase in the amount of earnings the local party derives from the deal.
Oct 3, 2014 12:58 PMJHI wishes our many friends in the Muslim world a happy Eid Al Adha holiday. We would also like to advise clients and friends who do not observe this holiday to expect delays in certain services due to office closures throughout the Middle East region during the holiday week.
Jul 28, 2014 2:48 PMJHI wishes our many friends in the Muslim world a happy Eid al-Fitr. We would also like to advise clients and friends who do not observe this holiday to expect delays in certain services, and possible disruptions of projected time frames, due to office closures throughout the Middle East region during the holiday.
Jul 9, 2014 3:37 PMBetween the July 4 weekend and other summer holidays, high summer in the Middle East, the holy month of Ramadan, and some sort of soccer tournament, we find ourselves in the unusual position of having a little free time here at JHI.As such, watch THIS SPACE: In the coming weeks, JHI will post a brief article right here in our Notes & Comments section on Hydraulic Fracturing (colloquially referred to as “Fracking”).
Following Labor Day, JHI will publish a brief note on contracting with parties in Middle Eastern jurisdictions (in particular, Saudi Arabia (KSA) and the United Arab Emirates(UAE)); and, in a subsequent writing, JHI will share some thoughts on Arbitration Clauses when doing business internationally.
And, while there tends not to be many developments in the law anywhere in world during these summer months, JHI will continue to keep our eyes peeling concerning such developments as and when they affect Marcellus Shale Natural Gas, Charter Schools, Municipalities, Middle Eastern jurisdictions (particularly Gulf Cooperation Council jurisdictions), the law of Contracts, the laws of New York, New Jersey, Pennsylvania, the UAE (Abu Dhabi and Dubai) and the KSA, and business law generally.In the meantime, we would just like to wish all concerned a safe and happy summertime!
Jun 27, 2014 11:50 AMTo all of our friends around the world who observe the Holy Month, we at JHI hope that you and your families enjoy and gain value from the meaningful aspects of an entire month dedicated to prayer and fasting. May your loved ones grow closer to each other, and humanity generally, during this time. We wish you good health in the year ahead.Ramadan Mubarak!
- Jason Huf
Jun 5, 2014 12:33 PMJHI is pleased to announce that the Firm's Founder and Principal has been awarded the honor of serving as Co-Chairman of the New York County Lawyers' Association's (NYCLA) Foreign & International Law Committee, effective June 1, 2014."This is an exciting time for the Foreign & International Law Committee, and NYCLA generally. Jay (Safer) and Jacqueline (Wolff) have done a terrific job as Co-Chairs of the Committee over the last several years, and we have some pretty big shoes to fill. It is an honor to follow them, and I will do my level best."Continuing the tradition of hosting excellent guest speakers, and working with NYCLA to explore the offering of CLE programs designed for international practitioners, will be at the top of Mr. Huf's agenda.Mr. Huf assumes the Co-Chairmanship of NYCLA's Foreign & International Law Committee with his distinguished colleague, Ms. Clara Flebus. They will serve together for the 2014-17 term.
May 12, 2014 11:06 AMFrom time to time, a trial balloon is floated in one GCC jurisdiction or another concerning the imposition of a new tax, whether it be an individual income tax, corporate tax or a value added tax. The most recent of these is now floating over Dubai, which is still grappling with the residual effects of the 2008 crash while maintaining high levels of infrastructure spending.A prominent Emirati businessman based in Dubai publicly raised the idea of a corporate income tax in Dubai and voiced his general support for such an idea. This is easily to understand, given the depletion of Dubai's oil reserves, the reversal of 2008 and resulting cash crunch, and the Emirate's continued high level of spending. However, it would be somewhat akin to Killing the Goose that Laid the Golden Egg.Dubai rose up from the desert, transforming itself from a small trading post adjacent to Sharjah into the "City of Dreams", on the basis of its business-friendly laws, easy access to the oil-rich Gulf region, an unburdensome regulatory environment, quick access to financing and investment capital, and clever marketing revolving around the fact that the Emirate is Tax-Free.
While there are numerous government fees, paid annually, along with payments to sponsors, exceedingly high rental costs and other expenses one could say amount to a sort of taxation, companies and individual entrepreneurs from all over the world continue to flock to Dubai, drawn to the City of Dreams by the prospect of Tax-Free wealth. Imposition of a corporate income tax could threaten this influx and inspire existing businesses to relocate elsewhere in the Gulf. Even if such a tax were quickly repealled, reestablishing Dubai's image, carefully crafted and astutely marketed for many years, might be next to impossible. And, isn't the real "Dream" not quick wealth, but having a broad-based economy not entirely dependent upon oil in the very heart of the Gulf region?
If Dubai is the City of Dreams, the "Green Capital" of the United Arab Emirates, Abu Dhabi, has been the Emirate of Reality. With much of the UAE's energy resources, over half the country's population and land mass (much of it still undeveloped), and a very similar body of business law and regulations, and a robust banking industry, Abu Dhabi is also Tax-Free. Abu Dhabi may not be known for a miraculous boom of the sort that made Dubai famous, but it has enjoyed steady, broad growth that has withstood the 2008 crash.Today, and not accidentally, Abu Dhabi is a leading target for foreign direct investment. A corporate income tax in Dubai would not only enhance the relative attractiveness of Abu Dhabi to newcomers to the region, it might also encourage some of Dubai's existing businesses to take a two-hour drive and check out why the Emirate of Abu Dhabi is "green" in more ways than one.
Jan 8, 2014 2:21 PMJHI's New York HQ office is up and running for 2014 following the Holiday Season (and a burst of inclement weather). As we return from our Holiday, the United Arab Emirates has announced the observance of a Holiday of their own:
Government offices, banks and private enterprises will be closed for business on Sunday, January 12, 2014 in celebration of the birthday of the Prophet Mohammed. This should not impact international business to any great degree, as Sunday is not a workday in most other parts of the world as it is in the UAE and other GCC states.
We look forward to working on an exciting array of projects this year, and Mr. Huf plans to travel frequently throughout the Commonwealth of Pennsylvania on business related to the booming Marcellus Shale natural gas industry.
Speaking of travel, it is that time of the year when Mr. Huf begins booking public speaking appearances. Your next conference or guest lecture series will be discussed for the remainder of the year - Mr. Huf really is that dynamic and compelling. Contact JHI today to discuss subject matters he addresses and to schedule a date. Your next event will be a winner!
JHI hopes your 2014 is as interesting and prosperous as ours. Happy New Year!
Sep 5, 2013 5:40 PMThe new UAE Companies Law of 2013 (the “Companies Law”) did not alter the minimum local ownership requirement of companies founded in the United Arab Emirates (“UAE”) and may subject Limited Liability Companies to some of the same (or, very similar) regulations under which Joint Stock Companies in the UAE operate. This was met with disappointment by some current and prospective foreign investors and a yawn by others. However, it is not the final word on available options for doing business in one of the fastest growing markets in the world.The upcoming Foreign Investment Law is still under discussion within the government and a draft is scheduled to be circulated later this year. In the meantime potential foreign investors, and current investors looking to restructure their operations, can still avail themselves of the facilities provided by the various Free Zones that fall outside the scope of the Companies Law.By utilizing the appropriate Free Zone for incorporation, foreign investors can enjoy 100% ownership of their enterprise in the UAE while paying lower costs associated with corporate governance mandates and other regulatory compliance matters. Long story short, JHI does not see the Companies Law as a serious impediment to a foreign investor’s goals and ambitions in the GCC region.
Such investors should contact experienced legal counsel for a thorough description of their companies' options in the UAE and beyond.
Jason Huf International, pc
"Exploring the Boundaries of Your Business."