In accordance with Article 10 of Federal Decree-Law No. 26 of 2020 regarding amending some provisions of Law No. 2 of 2015 concerning commercial companies, which stipulated that foreign investor is eligible to own 100% of the company’s shares. ADDED has issued AD Positive List which includes 1105 business activities

Federal Law No. 15 of 2020 Regarding Consumer Protection Federal Law No. 15 of 2020 regarding Consumer Protection (“New Law”) issued on 10/11/2020, which completely repealed the previous Federal Law No. 24 of 2006, has come into force officially since 16/11/2020. The New Law prohibits including any condition when contracting with

Issues number 694 and 695 of the Official Gazette for the year 51 dated 01/14/2021 AD and 01/31/2021 AD were including announcements regarding the amendment of the articles of association issued by the Securities and Commodities Authority for the following companies: – Takaful House Company – SAOG– Gulf Cement Company PJSC–

Legal notes concerning the template of Musataha agreement issued by Department of Municipalities and Transport on 28/10/2014 and the template of Musataha agreement issued by Abu Dhabi Investment Office on 30/8/2020 The following are the most prominent terms and provisions stipulated in the Musataha Agreement 2020: Project completion: At least fourteen (14) days

Amendments under Federal Law No. 11 of 2020 to some provisions of Federal Law No. 18 of 1981 concerning the commercial agencies The Federal Law No. 11 of 2020 issued on 05-28-2020 published in issue No. 679 – The Fiftieth Year of the Federal Official Gazette has amended some of the

UAE Cabinet has approved an in Oct 2019 further amendment (Amendment Law) to Federal Law No 9 of 2016 (the Corporate Bankruptcy Law). The Amendment Law follows the previous amendment of the Corporate Bankruptcy Law in 2019 (pursuant to Federal Law No 23 of 2019). The UAE Cabinet has now confirmed

The UAE issued Insolvency Law No. 19 of 2019 on 29 August 2019. The Law has come into force since 29th day of November 2019. Here a question arises that What is the difference between the Insolvency Law and Bankruptcy Law? The Insolvency Law only applies to natural persons and the estate

The UAE Cabinet approved a new Federal Law on Sunday to regulate cases of insolvency. this law will be implemented /enforced from January 2020. This new law protects the debtors from: -Legal prosecution-Cease the financial obligations-Opportunities to work in a proper workable atmosphere This law will assist debtors managing their financial issues with

Dubai developers no longer allowed to collect service charges from property owners New Law comes into effect removing developers from setting charges or collecting funds This forms one of the key changes of the Common Properties Law, No. 6 of 2019, which comes into effect on Tuesday (November 19). -The collected funds will

Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, announced the launch of a family protection decree to tackle domestic violence while chairing a meeting of the UAE Cabinet on Monday. Sheikh Mohammed said the strategy would support authorities in their efforts to safeguard all sections of society. The UAE Cabinet

Recent changes demonstrate the GCC’s priority to improve its existing employment and immigration frameworks, in a bid to appeal to laborer’s, employers and even non-residents. In this alert, we highlight the latest employment and immigration developments across the GCC. United Arab Emirates (UAE)The Emirate of Dubai has officially launched its first-ever

The Chairman of the Department of Health in the Emirate of Abu Dhabi, Abdullah bin Mohammed Al Hamed, issued Resolution No. (37) of 2019 on the regulation of health information and advertising. Article 2 of the decision, which was published in the latest issue of the official gazette of the Emirate

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

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

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

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

-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

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

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

Dubai – His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued a new law regulating the Real Estate Regulatory Agency. The new law issued, Law No. 4 of 2019, states RERA as a public institution, to come under

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.

Since the issuance of the Cabinet Resolution No. (57) of 2018 concerning the Executive Regulations of Federal Law No. (11) of 1992 on the Civil Procedure Law on 9 of December 2018 simultaneously with the new amendments on the Civil Procedures Law via Federal Decree Law No. (18) and controversy

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

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

1) Dh50 billion stimulus package A massive Dh50 billion stimulus package for Abu Dhabi has been announced by Sheikh Mohammed bin Zayed Al Nahyan, the Crown Prince, with the aim of accelerating the economy over the next three years. And the executive committee of Abu Dhabi executive Council has been given just

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