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ARTICLE · 12 JULY 2024

DIFC Announces Amendments To Key Legislation

Al Kabban & Associates
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The Dubai International Financial Centre (DIFC) has enacted significant amendments to its legislation through DIFC Law Amendment Law No. 1 of 2024.

United Arab EmiratesWealth Management
Al Kabban & Associates
Al Kabban & Associates

DIFC Announces Amendments to Key Legislation

The Dubai International Financial Centre (DIFC) has enacted significant amendments to its legislation through DIFC Law Amendment Law No. 1 of 2024. These changes, initiated by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, UAE Prime Minister, and Ruler of Dubai, aim to align the Centre's regulations with international best practices while catering to regional needs.

Overview of the Amendments:

Employment Law Amendments

DIFC employers are now required to make "top-up" payments into qualifying schemes like the DEWS Scheme for GCC national employees. This is to ensure their contributions match what non-GCC nationals would receive under the Employment Law. These amendments to Part 10 of the Employment Law are effective immediately.

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