14 March 2025: DUBAI’s NEW TAX LAW FOR FOREIGN BANKS
INTRODUCTION The Emirate of Dubai in 2024 issued Law No. (1) of 2024 Concerning Tax on Foreign Banks Operating in the Emirate of Dubai. The law’s passing is an essential step to clarify the applicability of separate tax laws for foreign banks operating in Dubai. A similar law passed in 1996 imposed a Dubai Banking (Read more...)
06 March 2025: THE NEW ADGM EMPLOYMENT REGULATIONS 2024
INTRODUCTION The Abu Dhabi Global Market (ADGM) Employment Regulations 2024 have been issued by the ADGM to replace the earlier regulations issued in 2019 and have added several new provisions making the law comprehensive and updated with the changing employment mark. The new Regulations shall come into effect from 1st April 2025. This write-up is (Read more...)
26 February 2025: VIRTUAL ASSETS REGULATIONS IN THE UAE
INTRODUCTION The United Arab Emirates (UAE) has successfully established itself as a global leader in cryptocurrency and blockchain technology. Freezones like Dubai Multi Commodities Centre (DMCC) and Dubai International Financial Centre (DIFC) offer tax benefits, funding opportunities, and clear regulatory setups, which are major attractions to virtual asset investors across the world. REGULATIONS The Virtual (Read more...)
19 February 2025: KNOW YOUR CLIENT LAW OF THE UNITED ARAB EMIRATES
The introduction of Federal Decree-Law No. (30) of 2024 (the “Law”), establishing a “Know Your Client” (KYC) Digital Platform, enabling identity verification is an important step forward for the United Arab Emirates (UAE) whereby UAE has committed to tackle financial crimes in the country. Objectives The decree law aims at achieving the following objectives: – (Read more...)
12 February 2025: CUSTOMS LAW IN THE UAE
INTRODUCTION The United Arab Emirates (UAE), as a member of Gulf Cooperation Council (GCC) is regulated by the regulations of the GCC’s Customs Union. The UAE applies a unified customs tariff in line with the Gulf Cooperation Council (GCC) Common Customs Law. The GCC Customs Union established in 2003, among other things provides for a) (Read more...)
28 January 2025: Insights into the UAE Corporate Tax return filing, deadlines and documentation.
The introduction of Corporate Tax (CT) in the UAE marked a pivotal advancement in the nation’s tax framework. With the assumption that registration processes are complete, the focus now shifts to the critical aspects of CT return filing, including adherence to submission deadlines, compliance with regulatory criteria, and fulfillment of documentation requirements. Accurate and timely (Read more...)
22 January 2025: EMPOWERING CITIZENS- UNDERSTANDING THE NEW SOCIAL SUPPORT LAW OF THE UAE
INTRODUCTION The UAE government on 30th December 2024 brought into effect Federal Decree Law No. 23 of 2024 on Social Support and Empowerment. The law has clear objectives of supporting and empowering the vulnerable citizens of the state by providing them economic and social support. ELIGIBILITY AND PROCEDURE The law requires the primary beneficiary of (Read more...)
15 January 2025: NATIONAL REGISTER FOR CARBON CREDITS AND ITS IMPACT ON BUSINESSES IN THE UAE
The UAE’s cabinet recently adopted Cabinet Resolution No. (67) of 2024, which aims to reduce GHG emissions to achieve climate neutrality in 2050 and regulate the registration of carbon credits in the nation. SCOPE OF APPLICATION The Cabinet resolution applies to the following: 1. Entities with carbon emissions of more than 0.5 million metric tons (Read more...)
08 January 2025: HOW DOES THE UAE GOVERNMENT ENFORCE MINIMUM EMIRATE EMPLOYMENT TARGETS IN THE PRIVATE SECTOR?
The UAE has through the Federal Decree Law No. 9/2024, recently amended the Federal Law Regarding the Regulation of Employment Relationship 2021 to discourage Fictitious Employment that has been taking place in the UAE to fulfil the Emirati Employment Targets. The law aims to effectively implement the Emiratization Policy that the UAE government has introduced (Read more...)
10 December 2024: FEDERAL DECREE-LAW NO. (11) OF 2024 ON THE REDUCTION OF CLIMATE CHANGE EFFECTS
INTRODUCTION The UAE government in October 2024 passed a climate change law focused on reducing the effects of Climate Change. The objective of the law centres around managing emissions, increasing the adaptability of the economy to the impacts of climate change, supporting innovation in the area and improving regional and international cooperation by aligning local (Read more...)
05 December 2024: A Comparative Analysis of Promissory Notes and Bank Guarantees in Saudi Arabia: Our Legal Perspective
As Saudi Arabia continues to position itself as a global hub for trade and investment, the use of financial instruments to secure obligations has become an integral part of commercial transactions. Among the most utilized tools are Promissory Notes and Bank Guarantees. Both instruments serve distinct purposes, yet they differ fundamentally in terms of legal (Read more...)
12 November 2024: Regulating Telemarketing in the UAE
Introduction The United Arab Emirates (UAE) government has recently issued Cabinet Resolution no. 56 of 2024 Concerning the Telemarketing Regulations, to give further guidance on the telemarketing done by companies via telephone calls. The objectives of the decision are aimed primarily at achieving consumer comfort and privacy by limiting the channels through which companies can (Read more...)
24 October 2024: Know your deadline to submit Tax Registration Application
The United Arab Emirates (“UAE”) government had, introduced the Corporate Income Tax Law in the country through Federal Decree Law No. 47 of 2022 (the “Law”). Article 51 of the Law had provided that the Federal Tax Authority shall have the power to determine the timeline within which the Taxable Person must register themselves to (Read more...)
30 August 2024: UNDERSTANDING THE LABOR LAW AMENDMENTS of 2024
The UAE through the Federal Decree Law No. 9/2024 (“Amended Law”) issued on 29/07/2024, has amended Article 54 (Individual Labor Disputes) and Article 60 (Fines for prohibited acts) of the Federal Decree Law No. 33 of 2021 regarding the regulation of Employment Relationship (“Labour Law”). CHANGES TO ARTICLE 54 Article 54 of Labour Law provides (Read more...)
22 July 2024: DIFC amends Prescribed Company Regulations
DIFC amends Prescribed Company Regulations In May 2024, the Dubai International Financial Centre (DIFC) published a consultation paper with proposal for amending the Prescribed Company Regulations in the DIFC. After two-month long consultation and deliberation process, the amended Prescribed Company Regulations have now come into effect on 15th July 2024. Amendments Qualifying requirements An applicant (Read more...)
04 June 2024: Towards Sustainable Future: ESG Reporting in the UAE and Saudi Arabia
Thomas Paoletti, Managing Partner at Paoletti Law Group, provides expert opinion on ESG in the Middle East – the current situation and what still needs to be done to work towards a more sustainable future. Human-Caused Climate Changes in the Middle East The Middle East region is among the world’s most exposed states to human-caused (Read more...)
02 May 2024: SMALL CLAIMS TRIBUNAL IN DIFC
The Courts in DIFC were set up through Law No. 12 of 2004 concerning Judicial Authorities at the Dubai International Financial Centre (DIFC LAW). The law laid down the establishment of the Court of First Instance as well as the Court of Appeal. In accordance with this law, the Small Claims Tribunal (SCT) was established (Read more...)
17 April 2024: Why the UAE is a draw for entrepreneurs
The IPO boom in the UAE is poised to reshape the country’s economic landscape and propel it as a global investment destination. The positioning of the United Arab Emirates (UAE) as a global economic powerhouse by the government through economic diversification and government investment has ensured that the country experiences strong economic growth despite global (Read more...)
01 April 2024: Unlocking Success -10 Essential tips for UK Businesses entering the UAE Market
The United Arab Emirates (UAE) stands as a beacon of economic promise in the Gulf, magnetizing global entrepreneurs and businesses with its strategic location, vibrant marketplace, and favorable business environment. For UK enterprises eyeing expansion into the Middle East, the UAE offers a wealth of opportunities that have flourished in recent years. However, conquering this (Read more...)
19 March 2024: The Visionaries
Destination UAE Q1 How are global geopolitical events affecting mobility in your jurisdiction? Geopolitical instability generally influences mobility. However, emigration does not come exclusively from conflict zones, and can be purely economic. The immigration policies of the UAE intend to attract skilled professionals. The policy has helped the UAE attract exceptional talent. The UAE has (Read more...)
02 February 2024: IR Global Dubai 2024
Paoletti Law Group is excited to host IR Global members in Dubai this month! Exciting news – the next IR Global ‘On the Road’ conference is taking place in Dubai from the 20-24th February. We can’t wait to welcome 130+ members to the Anantara Downtown Hotel for an event that promises to support (Read more...)
08 December 2023: EPC Insights : Part II – Dispute Resolution in EPC Contracts
Introduction Engineering, Procurement, and Construction (EPC) contracts are commonly used in the construction and engineering industries, including in the United Arab Emirates (UAE). An EPC contract is a form of agreement where a single contractor takes responsibility for the entire project, from design and procurement to construction and commissioning. EPC contracts cover key concerns such (Read more...)
01 December 2024: COP 28 in the UAE: Making the World Greener!
The United Arab Emirates (UAE) is set to host the 28th Conference of the Parties (COP 28). This crucial gathering brings together nations worldwide to address the pressing climate change issues. This isn’t just any meeting; it’s a chance to make some real progress in the fight against climate issues. Think of it as a (Read more...)
13 November 2023: Abstract: Il settore legale abbraccia soluzioni di intelligenza artifciale, inclusa ChatGPT, ridefnendo compiti e ruoli. Nonostante le preoccupazioni sulla sostituzione degli avvocati, il ruolo dell’AI rimane di supporto, non dominante. S’impongono tuttavia considerazioni etiche.
Numerosi studi legali globali hanno recentemente spostato l’attenzione dai metodi tradizionali di assunzione allo sviluppo di soluzioni di intelligenza artifciale (AI) personalizzate, comprese versioni personalizzate di ChatGPT per applicazioni legali. Sebbene si sia considerato il potenziale dell’AI per sostituire i professionisti legali, la sua effettiva realizzazione potrebbe non essere in linea con tali speculazioni. L’integrazione (Read more...)
09 November 2023: Navigating Commercial Investment in UAE: An Analysis of Global Geopolitical Impact and Top Tips for Success
Current Appetite for Investment in Foreign Companies in UAE In recent years, the United Arab Emirates (UAE) has witnessed a growing appetite for investment in foreign companies, particularly in its economic heart, Dubai and Abu Dhabi. The nation’s strategic location, robust infrastructure, investor-friendly policies, and stable business environment have positioned it as an attractive destination (Read more...)
07 September 2023: RAKEZ Visa for Life: Supporting Business Growth in the UAE
The United Arab Emirates (UAE) has long been a magnet for entrepreneurs and business professionals seeking opportunities in the Middle East. Among the various initiatives aimed at fostering business growth, the RAKEZ Visa for Life program stands out as a game-changer. This innovative scheme offers a pathway for business owners and investors to establish a (Read more...)
30 August 2023: EPC insights: Navigating Engineering, Procurement, and Construction with FIDIC
Welcome to our inaugural newsletter, where we illuminate the world of Engineering, Procurement, and Construction (EPC) contracts, intricately woven with the expertise of The International Federation of Consulting Engineers (FIDIC). In this edition, we journey through the realm of EPC projects, emphasizing the pivotal role of legal consultation and introducing our experienced team’s triumphs in (Read more...)
24 August 2023: Exploring Divorce Proceedings within the Abu Dhabi Civil Court
Divorce is a complex and emotionally charged process that can have significant legal and personal implications for those involved. In the United Arab Emirates (UAE) divorce proceedings are governed by a combination of Islamic law principles and local legal frameworks. In Abu Dhabi, the divorce proceedings for non-Muslims are governed by the Abu Dhabi Civil (Read more...)
10 August 2023: UAE Amends Value Added Tax (VAT) Decree Law
Value-added tax (VAT) is a consumption tax that is applied to most goods and services sold in the United Arab Emirates (UAE). The standard VAT rate is 5%, but there are some goods and services that are exempt from VAT or subject to a 0% rate. Businesses that sell goods or services in the UAE (Read more...)
19 July 2023: Process of incorporating a company in DIFC
Dubai International Financial Centre (DIFC) was established in 2004 as a financial-free zone having an independent legal and regulatory framework aiming to foster growth and economic progress in the nation. DIFC attracts regulated activities related to institutional financial investors providing services like Banking, Capital Markets, Insurance, Capital investment schemes, Business Process Outsourcing, Islamic Finance, broker (Read more...)
12 July 2023: Incorporating a Business in the UAE: Choosing the Right Strategy for Growth and Scalability
The United Arab Emirates (UAE) is a popular destination for businesses of all sizes, thanks to its strategic location and business-friendly environment. When considering incorporating a business in the UAE, there are a few things you need to keep in mind. First, you need to decide whether you want to set up your business in (Read more...)
10 July 2023: UAE seeks to balance business imperatives with legal compliance needs
The United Arab Emirates, with its investor-friendly policies, is the world’s third fastest emerging economy according to the Foreign Direct Investment Confidence Index. While the United Arab Emirates (UAE) has rapidly emerged as one of the most attractive business economies for investors in recent years, thanks to the country’s strategic location, stable economy and favourable (Read more...)
05 July 2023: The ADGM Foundations Regime: Unlocking Financial Planning and Structuring Options in the UAE
The ADGM Foundations Regime offers a compelling alternative to trusts for individuals, families, and corporations seeking financial planning and structuring solutions. This innovative framework allows High Net Worth Individuals, families, and businesses in the United Arab Emirates (UAE) to access a highly sought-after product from a world-class international financial centre for the first time. ADGM (Read more...)
22 June 2023: Guidelines for new businesses in the UAE
The United Arab Emirates (UAE) has been a favoured business destination for Indians for decades. Recent changes have made an even more compelling case for Indian companies to be in the UAE for their global capability centres (GCC) as well as for their international business needs. India enterprises should be aware of these developments to (Read more...)
15 June 2023: UAE: attracting investments while increasing compliance
The United Arab Emirates (UAE) has rapidly emerged as one of the most attractive business economies for investors in recent years. The country’s strategic location, stable economy, and favorable business policies make it an ideal destination for investors looking to expand their operations. At the same time, the country is moving towards stricter compliance rules (Read more...)
12 May 2023: INVESTOR JOURNEY MADE EASY- DUBAI BUSINESS LICENSE CORPORATION
The Emirate of Dubai has recently, through Law no. 6 of 2023, passed a law to establish a public corporation named “Dubai Business License Corporation” (DBLC) that shall be accountable to the Department of Economy and Tourism. The Corporation will function under the supervision of an Execute Director with a few administrative, financial, and technical (Read more...)
05 May 2023: The contracts of the future and the new challenges for the protection of contractual parties
In 1994 for the first time the cryptographer Szabo had the idea of being able to record contracts by computer code establishing that their activation was subject to the occurrence of certain conditions. This function took place and still happens through the if/then computer language typical of computer software and protocols. For example, when a (Read more...)
28 February 2023: SEQUESTRO CONSERVATIVO DI NAVI
CONVENZIONE DI GINEVRA DEL 1999 SOMMARIO: 1. Il caso 2. Introduzione – 3. Il campo di applicazione della Convenzione di Ginevra del 1999 – Un cliente Cinese chiede una tutela urgente, ha noleggiato una nave (trasposto petrolchimici) battente bandiera di Hong Concluso il trasporto non è stato restituito al cliente né il residuo della spesa (Read more...)
17 February 2023: Purchasing of Real Estate Properties by Foreigners in Dubai
As each Emirate has some autonomy and authority to enact its own laws and regulations, the rules and regulations governing the sale and acquisition of real estate properties in the United Arab Emirates (UAE) are not always simple to follow. As a result, a dual legal system exists between laws at the federal and Emirate (Read more...)
18 January 2023: DIFC’s Crowdfunding Platform Regulations
The option of crowdfunding has opened a new gateway for independent innovators and small businesses to seek investments in their innovative projects with promising futures. Crowdfunding enables innovators to seek funds through online campaigns and attract investments of all scales and sizes. The rising popularity of crowdfunding has led to the emergence of multiple platforms (Read more...)
11 January 2023: Amendment of the Federal Decree-Law No. 7 of 2017 on Excise Tax
The United Arab Emirates’ Ministry of Finance revealed amendments to the provision of Federal Decree-Law No. 17 of 2017 on Excise Tax, effective from 14th October 2022. The amendments were made to support the business sector, to minimise tax avoidance, to facilitate obligation for taxable individuals and to analyse challenges regarding the application of (Read more...)
21 December 2022: Special Purpose Company in DIFC
A Special Purpose Company (SPC) is a company incorporated in Dubai International Financial Centre (DIFC) only for exempt activities. DIFC being a free zone provides several benefits to an SPC like zero tax, no foreign ownership restrictions, limited liability, and access to world-class infrastructure. Nature of SPC An SPC cannot have more than three (Read more...)
14 December 2022: Dubai Financial Services Authority (DFSA)
Dubai Financial Services Authority (DFSA) is one of the major regulators of financial institutions in the United Arab Emirates (UAE). It is responsible for the authorization and supervision of such institutions in the Dubai International Financial Centre (DIFC). DIFC, being a financial free zone, is home to various financial institutes like banks, investment firms, security (Read more...)
03 November 2022: Dubai International Financial Centre (DIFC)
Dubai International Financial Centre (DIFC) was established in 2004 as a financial-free zone having an independent legal and regulatory framework aiming to foster growth and economic progress in the nation. The DIFC was designed to establish Dubai as a gateway to western investment in the region. DIFC has its unique and independent legal as well (Read more...)
19 Ocotber 2022: Golden Visa in the UAE
In 2019, the United Arab Emirates (UAE) offered an option of a Golden Visa to foreigners for securing their plans of permanent residency in the country. The visa allows foreigners to live, work, study, or conduct business in the country without the need for a national sponsor. Who is eligible? Golden Visa shall be granted (Read more...)
05 October 2022: Segnalazione illegittima
ABSTRACT : Si riporta un caso di illegittima segnalazione nei confronti del ricorrente, legale rappresentante e procuratore alle vendite di una società di attività cantieristica/navale, da parte di un istituto bancario. Si chiede il risarcimento del danno patrimoniale e non, derivante dall’illegittima segnalazione. Il ricorrente riceveva una raccomandata comunicante il mancato pagamento di un saldo, (Read more...)
30 September 2022: ABSTRACT : IMBARCAZIONI ABBANDONATE – Applicazione pratica del diritto di ritenzione ed i rispettivi riferimenti normativi. Differenti modus vivendi del il diritto di ritenzione nei diversi sistemi giuridici: un caso concreto.
Il diritto di ritenzione si sostanzia nel diritto che sorge in capo ad un creditore di trattenere presso di se (e ottenerne la proprietà) di un bene oggetto della proprietà altrui fino al momento in cui il suo credito non venga soddisfatto (art 2756 c.c.). Il carattere eccezionale del diritto di ritenzione non ne preclude (Read more...)
09 September 2022: Financial Services Regulatory Authority (FSRA) of ADGM
Abu Dhabi Global Market (ADGM) established its Financial Services Regulatory Authority (FSRA) with an aim to shield the financial center from exposure to potential risks and other forms of undesirable impact. The FSRA acts as a regulator of the banks and financial institutions functioning in the ADGM. The regulatory authority is a signatory to 115 (Read more...)
03 August 2022: Incorporation of a Special Purpose Vehicle (SPV) in DIFC
SPVs are special-purpose companies or entities formed to fulfill a specific object for a limited time. Its nature is independent of the parent company by which it is formed and has its legal status, assets, liabilities, and even separate accounts. This acts as a shield for the parent company and prevents it from bankruptcy when (Read more...)
28 July 2022: Rapid Rise of e-Commerce in the UAE
On account of the Covid-19 outbreak, consumers had to rapidly shift to cashless payments and online shopping which resulted in a rise in e-Commerce activities in the United Arab Emirates (UAE). Apart from the role of the pandemic in this transition, some other causes for the surge in e-Commerce activities in the UAE are: Total (Read more...)
28 September 2021: Laws that Tourists Visiting The UAE Should Know
The United Arab Emirates (UAE) with its exotic shopping malls is a prime attraction point for shoppers. If tourists buy products from a shop participating in the ‘Tax Refund for Tourists Scheme’ they can claim refunds for the Value Added Tax paid on the products. This scheme is only available for individuals leaving the country (Read more...)
05 October 2021: Women related Laws in The UAE
In the year 2015, the United Arab Emirates (UAE) government established a federal entity by the name of Gender Balance Council to develop and implement the gender balance agenda in the country. The council aimed at increasing female participation in decision-making positions. The overall objective was to position the UAE as a model for gender (Read more...)
12 October 2021: Ultimate Beneficiary Owner (UBO) Declaration
Intending to curb money laundering, financial fraud, tax evasion, and terror finance, the UAE government is taking steps to ensure financial transparency. Many individuals take the advantage of the complex corporate ownership structures and indulge in such activities harming the interests of governments across the world. One important step to curb such activities is recognizing (Read more...)
26 October 2021: Contractual Disputes in the UAE
The judicial process in the United Arab Emirates is fairly like most other countries, with one important difference: This has to do with the fact that instead of an accusatory system, it is an inquisitorial system. For this reason, it is understandable that most investors, workers, and citizens in general prefer a more conciliatory (Read more...)
02 November 2021: Small Claims Tribunal-Employment disputes in the UAE
In the legal system of the United Arab Emirates, the issue of employment and industrial relations is guided by a common law structure similar to that of the medieval Lex Mercatoria in Europe, in which the employers, employees and competitors could resolve their disputes through arbitration and mediation; the advantage of this system is that (Read more...)
16 November 2021: Economic Substance Regulation in the UAE
The economy of the United Arab Emirates began as a mostly subsistence economy, based on fishing, pearl diving and dessert-accommodated transportation; nonetheless, there is an aspect of this economy that has stayed regular and unchanging from these early days to the discovery and extraction of oil: Trade. Since before the advent of modern civilization, the (Read more...)
23 November 2021: IR Global London Conference & 10 Year Celebration
IR GLOBAL – a multi-disciplinary professional services network that provides legal, accountancy, financial advice to companies and individuals around the world. After the pandemic, the team has finally welcomed its members back to London for the annual conference and celebrated its 10th (11) year anniversary! Paoletti Law Group was honored to be a Headline sponsor (Read more...)
28 November 2021: UAE’s New Labor Regulations
The UAE government has introduced some massive changes to labor laws of the nation through the new Federal Decree Law No 33 of 2021. The new law which will take effect from February 2022, is aimed at enhancing elasticity, resilience, and sustainability of the nation’s labor market and to promote flexible and competitive business environment (Read more...)
14 December 2021: Cyberbullying Laws in the UAE
Cyberbullying is a modern phenomenon that has arisen as a product of two distinct convergent changes in XXIst century society, these are: Globalization: The increasing interconnectivity of individuals and groups through technology and global markets, which leads in turn to an increase in the abundance of telecommunications and electronic networks. Social Media: Tied in some (Read more...)
21 December 2021: Green Visa in the UAE
The United Arab Emirates’s (UAE) government in September 2021, announced its projects of the 50 intending to transform the UAE over the next 50 years. This set of economic and development projects have captivated the interest of foreign investors as this project is aimed at providing the nation and its residents a sustainable future. Amongst (Read more...)
28 December 2021: Data Protection in the U.A.E.
The United Arab Emirates (UAE) has become a major financial hub of the world where multinational corporations are establishing their base. The large-scale digitization of the economy post-Covid-19 generated massive quantities of data which the corporations used for improving their businesses. The ability of data to generate wealth makes it the ‘new oil’. However, data (Read more...)
05 January 2022: (DIFC) Dubai International Financial Center’s Will Services
Dubai International Financial Center (DIFC) was established in 2004 as a financial free zone having independent legal and regulatory framework aiming to foster growth and economic progress in the nation. DIFC has its unique and independent legal as well as regulatory framework in the United Arab Emirates (UAE). Special DIFC court have been created for (Read more...)
12 January 2022: Changing the horizon of Arbitration in Dubai
The Emirate of Dubai has through Decree no. 34 of 2021 (the “Decree”), made major changes to the functioning of the Dubai International Arbitration Centre (DIAC). The Decree has abolished both ‘the Emirate Maritime Arbitration Centre’ as well as the ‘the Dubai International Financial Centre Arbitration Institute’ and has transferred their employees, assets, rights, and (Read more...)
19 January 2022: The law regulating Mergers in the UAE
The Commercial Company Law of the United Arab Emirates (UAE) deals with the Mergers of companies across the nation. Article 283 of the Federal Law No. (2) of 2015 on Commercial Companies, allows a company with a special resolution passed by the General Assembly to merge with another company through the conclusion of a ‘Merger (Read more...)
27 January 2022: UAE partially decriminalizes dishonor of cheques
Intending to discourage increasing crimes of bounced cheques, the UAE government had through Federal Decree Law No 14 of 2020 made changes to the provisions of the Commercial Transaction Law of 1993. The amendment decree came into effect on January 2022. The law has been changed to only punish individuals who (1) ask their banks (Read more...)
03 February 2022: Enforcement of Arbitral Award in the UAE and surrounding challenges
The Federal Law No. 6 of 2018 on Arbitration is the primary legislation regulating Arbitration across the country. Article 52 of the law states that every arbitral award issued according to the present law shall be binding and enforceable like a court order. Article 55 requires a person to submit a request for recognition of (Read more...)
09 February 2022: UAE introduces Corporate Tax from 2023
In January 2022, the Ministry of Finance of the United Arab Emirates (UAE) announced the introduction of a Federal Corporate Tax on business profits. Measures have been undertaken to incorporate the global best practices and reduce the compliance burden on the UAE businesses. The Corporate Tax is a type of direct tax placed on a (Read more...)
16 February 2022: Prenuptial Agreements in the UAE
A Prenuptial agreement is a type of a written agreement between a couple yet to be married and consists of terms and conditions defining the distribution of the assets of the spouse during their marriage and post their divorce. There are also postnuptial agreements, which are essentially the same as prenuptial agreements but are entered (Read more...)
23 February 2022: Inheritance law for Non-UAE Nationals (Expatriates)
Inheritance means handing over assets of a deceased individual to the legally entitled descendants and family members. It is usually advised to have a registered Will as in absence of it, several undesirable situations may arise, like freezing of bank accounts, investments, and a prolonged litigation process which could prove to be costly. The inheritance (Read more...)
21 July 2022: Changes to the legal system of the UAE amidst Covid-19
COVID-19 ushered changes in the functioning of all the major economies around the world. Governments everywhere brought massive reforms to their administrative and legal functioning so as to keep growing effectively amidst Covid-19. The government of the United Arab Emirates (UAE) also adopted various amendments to the laws which have brought massive transformation in how (Read more...)
02 March 2022: UAE’s new data protection law: Rights of a data subject
The Federal Decree-Law no. 45 on the Protection of Personal Data came into force on 2nd January 2022. The new law applies to the processing of personal data (1) of a data subject who resides in the UAE, (2) by any controller or processor residing in the state, whether processing the data inside or outside (Read more...)
24 March 2022: Amendments to the UAE’s Bankruptcy Law
The post covid amendments made to UAE’s Bankruptcy Law of 2016 are a drastic but necessary step to deal with the steep fall in the growth and profits of the companies based in the United Arab Emirates (UAE). In November 2021 the UAE government introduced the Federal Decree-Law 35 of 2021 to provide clarification to (Read more...)
24 March 2022: The NEW Trademark Law of the UAE
The United Arab Emirates (UAE) government passed the Federal Trademarks Law No. 36 of 2021 (“New Law”) which replaced the earlier Trademark law of 1992. The New Law came into effect on 2nd January 2022. The New Law has made considerable changes to the legal domain of trademark. The New Law broadens the scope of (Read more...)
25 March 2022: The New DIAC Arbitration Rules 2022
Dubai International Arbitration Centre (DIAC) has finally released its much-awaited arbitration rules for 2022 on the 2nd March of this year. The recent DIAC Arbitration rules 2022 became effective on 21st March 2022 and is applicable to all the arbitration that will happen on and after the mentioned publishing date. The publishing of new rules (Read more...)
01 June 2022: New Labor Law Highlights
The Ministry of Human Resources and Emiratisation announced the New United Arab Emirates (UAE) Labor Law (Federal Decree-Law No.33 of 2021) (“New Law”), which came into effect on 2nd February 2022. The New Law addresses changes in the work environment, recognizes the need for flexible working structures and aligns the relationship between the UAE laborers (Read more...)
08 June 2022: Incorporation of NFTs in UAE
Abu Dhabi, the capital of the United Arab Emirates (UAE), is all set to trade in virtual assets as the country has released a ‘consultation paper’ for trade guidelines. Financial experts have initiated steps to bring digital assets such as non-fungible tokens (NFTs) under the directory framework. The Free Zone Company and financial hub of (Read more...)
15 June 2022: Foreign Direct Investment in the UAE
Foreign Direct Investment (FDI) in the United Arab Emirates (UAE) achieved significant growth in 2020 compared to 2019. The FDI reached $19.88 billion (44.2%) despite the consequences of the COVID-19 pandemic that severely damaged the world’s volume of investment, trade, and economy. During the same period, the cumulative balance of the FDI increased, achieving 12.9% (Read more...)
23 June 2022: Setting up of a Representative Office in DIFC and its Advantages
Foreign companies can promote their market or business in the United Arab Emirates (UAE) by setting up a representative office. For businesses looking to test the market, the Dubai International Financial Center (DIFC) provides a good low-cost option. The office is defined as a cost-effective parent company, enabling people in business to get the advantage (Read more...)
30 July 2022: Setting up an SPV in ADGM and its Advantages
The Abu Dhabi Global Market (ADGM) is a significant ecosystem for many ambitious organizations who want to benefit with their banking, wealth management, insurance, capital market activities and asset management in the most effective way. Special Purpose Vehicle (SPV) is a passive holding company that aims to guarantee specific liabilities and assets by isolating legal (Read more...)
14 July 2022: Setting up a company in Dubai Multi-Commodities Centre (DMCC)
Dubai Multi-Commodities Centre, or as we all call it, the DMCC, is one of the top-rated free zones in the United Arab Emirates (UAE). DMCC has been awarded “Global Free Zone of the World” by the Financial Times fDi magazine seven times. The Free Zone has welcomed corporations of all sizes with open arms and (Read more...)
15 July 2022: Buoni fruttiferi postali
Prevalenza delle condizioni indicate sul retro del titolo, o dei decreti integrativi (e peggiorativi) del ministero? Commento a Sentenza n. 251/2020 pubbl. il 26/05/2020 RG n. 1615/2019 Il Tribunale di Mantova, da ragione al risparmiatore. ABSTRACT: si è ribadito il perimetro di validità del dictum delle pronunce di seguito citate in ordine al fatto (Read more...)
24 January 2022: Green Pass, semplificazioni e rischi concreti.
La legge di conversione 165/2021 ha apportato alcune interessanti modifiche agli articoli 1 e 3 del DL 127/2021 reativamente al controllo delle certificazioni verdi sui luoghi di lavoro. La prima interessante modifica è quella che prevede la possibilità per i lavoratori pubblici e privati di presentare una richiesta scritta al datore di lavoro con la (Read more...)
09 November 2021: Green pass, tra esigenze di controllo e rischi per l’incaricato
Il 15 Ottobre è entrato in vigore l’obbligo previsto dal DL n. 127/2021, per i datori di lavoro, di controllare il possesso del Green Pass ottenuto a seguito di vaccinazione o all’esito negativo di un tampone antigenico o molecolare a tutti i dipendenti, oltreché ai fornitori e ai consulenti chiamati a prestare la propria opera (Read more...)
The Breitling case: incorporated joint venture in Dubai
Today I want to discuss joint ventures and, in particular, a real case I dealt with a few months ago. But first I think it’s useful to spend some introductory words on what a joint venture is and what forms it can take. The term Joint Venture defines a form of collaboration among enterprises, with (Read more...)
Why a written contract is important
If you lose a 2 million dollar project because you forgot to finalize a contract, what can you do? Nothing, I’m afraid. If something like this happens, you can’t react afterwards and hope to fix it. That contract is lost forever. I’m not speaking about a hypothetical case, but of a real occurrence. Here in (Read more...)
Why a written contract is important (second part)
.In the last post I dealt with this subject – the importance of the written contract – which could seem banal, but which, on the contrary, is an issue that ought to be clearly put on the table. And so I’ve decided to go into further detail about this in a second article. If in the (Read more...)
Prevention is better than cure
Also in the law fields is better to prevent. Over the years medicine has taught families the importance of prevention, of taking care of ourselves to stay healthy and avoid illness. Unfortunately, the legal profession has not followed the same example and, even today, it’s common to hear the same opinion of a client I (Read more...)
Why should you get in touch with a lawyer to start a business?
Starting a business? Get in touch with a layer. Let’s start with a practical situation. After a trip to Dubai, an Italian entrepreneur in the food industry decides to enter the market there, realizing the Emirate offers many opportunities, particularly in light of the upcoming Expo 2020. Now, what can he do to get some (Read more...)
Doing business in Dubai: local partner or on your own?
In this post I want to go into practical detail and answer a series of questions investors ask themselves when they decide to implement a process of internationalization here in the Emirates. Tackling and solving these first questions is fundamental to the success of the whole venture, because building such a project is a bit (Read more...)
