UAE joins nations monitoring Offenders through Electronic Tagging
The Law No. 17 of 2018 provides for an alternative to imprisonment in certain offences and subject to certain restrictions, which we have amplified in the following part herein. The alternative to imprisonment comes as a handy, electronic, portable and wearable device, which is intended to restrict and monitor the convicts or the accused pending …
Continue reading “UAE joins nations monitoring Offenders through Electronic Tagging”
All that you should know about the New Anti-Money Laundering Law
As part of the requirement of the Financial Action Task Force (FATF), a Federal Decree No. 20 of 2018 on anti-money laundering and countering the financing of terrorism was issued on 23 September 2018.
Significant Changes to Civil Procedure Code
Significant changes to Federal Law No 11 of 1992 (the Civil Procedure Code) will soon be coming into effect. These changes are introduced through regulations (the Regulations ) issued under the Civil Procedure Code and will come into effect on 16 February 2019.
Merger Clearance Matters
The United Arab Emirates (the UAE) promulgated legislation to specifically address the regulation of competition (being Federal Law 4 of 2012, or the Competition Law) several years ago but until recently, it has been the case that the requisite implementing regulations and processes were not in place. This is no longer the case. Not only …
New Anti-Money Laundering Law
The new anti-money laundering (AML) law of the UAE took effect at the end of October 2018. Containing features recommended by the Financial Action Task Force (FATF), the new law introduces subtle but important changes to the AML landscape in the UAE.
Confidentiality Under Renewed Focus
The UAE federal government has recently issued a raft of important legislation, addressing and in many ways updating areas of law that are key to businesses in the jurisdiction. Amongst this legislation is Federal Decree-Law 14 of 2018 concerning the central bank and the organisation of financial institutions and activities (the New Banking Law) and …
Get 100% Foreign Ownership Today in Dubai
Freezones have always been the topic of discussion in the U.A.E. Amongst the various benefits, 100% foreign ownership is one of the advantages which is enjoyed the most by investors in these freezone companies. In the below article, our Company Setup Specialist, Neelesh Pillai talks about everything that you need to know about setting up …
Continue reading “Get 100% Foreign Ownership Today in Dubai”
Overview of the Bankruptcy Proceedings and Preventive Measures in the UAE
Before the approval of the UAE Federal Decree Law No. 9 of 2016 (the “Bankruptcy Law”) by the UAE Cabinet on 4 September 2016, the bankruptcy proceedings were regulated under the Commercial Code and were limited to court-driven proceeding addressed to liquidate companies rather than assist in restructuring their debts. This new law puts some …
Continue reading “Overview of the Bankruptcy Proceedings and Preventive Measures in the UAE”
UPDATE: FTA Clarifies the VAT Treatment of Compensation Payments
The Federal Tax Authority (FTA) has recently published a clarification on VAT treatment of compensation type payments. Our Associate, Sarra Alsamarrai summarized the examples of situations where the compensation payments may or may not give rise to a "supply" for a taxable purpose.
8 Essential Issues to Consider Before Signing your Sale and Purchase Agreement – Dubai Property La
In the Dubai real estate market, whether you are a buyer or a seller, navigating the whole process may seem like a daunting task. But a proper checklist can help you ensure a smooth entry into the property market. Our Associate, Sarra Alsamarrai in the below article, highlighted the top eight considerations purchasers need to …