Legal Developments changing Business in Dubai

Since international markets were sent into a spin following the Dubai World announcement proposing a standstill on its debts on November 25 in 2009, the Emirate of Dubai has sought to address systematic issues affecting the stability and attractiveness of the local economy.

In the first five months of 2010, we have witnessed changes which aim to improve the business "playing field" and renew confidence in Dubai as a global financial centre. This article reviews some of the key changes and highlights expected legal developments for the remainder of 2010.

Introduction

"Although we expect a return to high economic growth, it is critical that we urgently address the deeper risks and challenges that the economic crisis revealed."