Financial Leasing Law
UAE Federal Law No. 8 of 2018 on Financial Leasing (the “Law”) came into effect on 1 January 2019, with the aim of regulating the provision of leasing activities in the UAE.
FAQ – COVID’19 and Shipping Industry
The World Trade Organization has projected that “world trade is expected to fall by between 13% and 32% in 2020” due to the COVID-19 pandemic, as it has increased globally causing massive disruptions on the economic activity of international markets, including individuals’ lifestyles. One of the major industries shaken by this calamity is the global …
Nature of Disputes in Construction industry- An overview
Construction industry is today fast paced, complex and involve multiple parties thereby creating numerous issues from which dispute arises. Some of the contentious issues are as follows: The right to suspend works: Under FIDIC Red book, Sub Clause 40.1 & Sub Clause 69.4 determines this right. The issue is whether the party suspending the work …
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FICHTE WEBINAR: COVID-19 and Employment Law in the UAE
Free Live Webinar To help employers and employees better understand the current developments, including some temporary measures introduced in the UAE, Fichte & Co recently hosted a free live webinar. Our Associate, DR. Laura Voda and Seniors Associate, Moaz Forawi talked about the Ministerial Resolution 279, the scope and applicability, provided clarity towards the measures …
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What Can a Buyer Do if Faced with a Cancelled Off-Plan Real Estate Project In Dubai?
Dubai property market often sees developers lure potential buyers with attractive and flexible payment plans. If you were purchasing a unit and the project has fallen through and been canceled, you are entitled to have your money refunded from the developer’s escrow account. In the below article, our Associate, Dr. Laura Voda talks about the …
Covid-19 Update on Credit Cards Payment in UAE
Commercial Lawyers of Dubai have witnessed various opportunities offered by banks for relaxation in the credit cards and loans during Covid-19 Pandemic.
Prepare your business to comply with the UAE Economic Substance Regulations
In response to an assessment of the UAE’s tax framework by the European Union (‘EU’), the UAE introduced a Resolution on the Economic Substance Regulations (the ‘Regulations’) on 30 April 2019. The Regulations require UAE mainland and free zone companies and other UAE business forms (including Dubai International Financial Centre (‘DIFC’) and Abu Dhabi Global Market …
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THE PRINCIPLE OF LIMITATION OF LIABILITY IN A LIMITED LIABILITY COMPANY
A. INTRODUCTION The protection provided by a limited liability company is an important aspect of the business structure as it allows shareholders of a company to not be personally liable for the debts of the company.
Developers’ Right to Terminate off Plan Sales to Defaulting Buyers. No Court Order Needed
Property developers in the UAE can bypass the courts and terminate contracts. In such an event, the developer shall notify the Dubai Land Department (DLD) of the buyer’s default. Our Associate, Dr. Laura Voda talks about the procedures with timelines that are to be complied with by a developer prior to termination. In 2017, His …
2020 Ramadan Etiquettes in Amidst Covid-19
The month of Ramadan is considered as the most holy month as per the Hijri Calendar as Muslims around the world are obliged to undergo fasting according to the timetable.