ME-Alliance

Recent Changes in ADGM Laws and Your ADGM Company Obligations

New Residency Requirements for Authorised Signatories of ADGM Entities -Under Commercial Licensing Regulations 2015 (Conditions of Licence and Branch Registration) Rules 2019, each ADGM entity is now required to have at least one (1) authorised signatory who holds a valid UAE residency visa. -This requirement applies to existing ADGM entities as well

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Real Estate Transfer Fees New Decree

Decree no. 27 of 2019 was issued by the Ruler of Dubai on 4 September 2019, in respect of the reduction and exemption from certain fees and penalties in the Emirate of Dubai (the “New Decree”). The New Decree was published in the Official Gazette on 24 September 2019. In Emirate

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DIFC Data Protection

The Data Protection Law prescribes rules and regulations regarding the collection, handling, disclosure and use of personal data in the DIFC, the rights of individuals to whom the personal data relates and the power of the Commissioner of Data Protection in performing their duties in respect of matters related to

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DIFC Wills and Probate Registry new Rules

DIFC Wills and Probate Registry new Rules which were released on 25th June 2019 , has cam in to effect from 29th August 2019. There are two major changes to the Rules: -Non-Muslims can include all their worldwide assets in the DIFC Will. -Testators who wish to register DIFC Wills only for their

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Joint Property Law

-The joint property has been finally gazetted on 19th Sep 2019 law No (6) of 2019 is regulating the joint ownership of real estate in the emirates of Dubai. This law is about the management of mega building projects. Joint Property Law will come in effect on 18 November 2019. -All

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Provisions of the Child Rights Law

The UAE gives top priority to children’s care and development. At the federal level, Ministry of Interior and Ministry of Community Development undertake protection of children. Social Care and Minors Affairs Foundation in Abu Dhabi and Awqaf and Minors Affairs Foundation in Dubai support the federal entities in ensuring the well-being

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Mansour Bin Zayed issues decision on Abu Dhabi Commercial Court formation

The move comes as a bid to enhance the emirate’s commercial competitiveness Abu Dhabi: Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the Abu Dhabi Judicial Department, has issued a decision to establish a specialized court dealing with commercial law cases, under the

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New DIFC Employment Law coming into force on 28 August 2019

Background: The Dubai International Financial Centre Authority (“DIFCA”) has introduced a new DIFC Employment Law (DIFC Law No. 2 of 2019) (the “New Law”) which will replace the current DIFC Employment Law (Law No. 4 of 2005, as amended by Law No. 3 of 2012) (the “Current Law”) in its entirety.

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Incentives and facilities packages at the Federal Level

1) Freeze on federal government fees The UAE federal government announced on 28 February 2018 a three-year freeze in government fees, saying the move was intended to attract more foreign investments, promote economic stability and support the industrial and commercial sectors. 2) VAT on gold rolled back The UAE federal government rolled back

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Recent Developments in Corporate Governance Codes in Gulf Region

Dr. Mohammed Haitham Salman has recently presented in The 3rd International Conference on Organization and Management (ICOM) 2017 a study which concluded the following findings: The development of corporate codes has progressed dramatically in GCC region since 2014 and many countries have been shifted from voluntary basis to towards “comply-or-explain” or

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The UAE has recently issued the long-waited FDI laws

Like most of GCC countries, the UAE has recently issued the long-waited law to develop the investment environment and promote attracting FDI in line with the developmental policies of the State. The federal law No. 19 of 2018 regarding Foreign Direct Investment (the Law) has been issued on 23 of

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