New Emiratisation Laws – 2% Emiratisation Law and Classification Law

What is Emiratisation?   The initiative by the Government of the UAE to increase the number of UAE nationals employed in the private and public sectors is called Emiratisation.    The Emiratisation program is an…

Ship Finance in the UAE

As a Civil law jurisdiction, UAE maritime law is derived from the UAE's Maritime Code (or specifically Federal Law No. 26/1981). Still, the Commercial and Civil Codes govern all maritime financial transactions. The Federal Maritime Authority (FMA) is the…

Dubai’s Virtual Assets Regulatory Authority – the world’s first regulatory authority to enter the metaverse

The recent announcement that Dubai's Virtual Assets Regulatory Authority (DVARA) has entered into the metaverse with the establishment of its Metaverse HQ made it the first regulator to have a presence in the emerging digital…

The Virtual Horizon

Dubai surprised many businesses earlier this year when it issued a new Virtual Assets Law. Dr Laura Voda, Of Counsel at Fichte Legal, examines this law’s most significant provisions and what could be next in…

Registration of Security Interests over Movable Property in the UAE

Historically, the practice of creating security in the UAE could be distinguished from common law jurisdictions, with no recognition of floating charges or future assets. There was no comprehensive legislation which mandated the registration of…

ChequeScore – Know the probability of a cheque to bounce

When and Where? Launched earlier this year, the ChequeScore is an innovative tool of Al Etihad Credit Bureau (AECB), aimed at complementing the initiatives of the UAE Government to decriminalize bounced cheques. As of April…

Dubai’s New Law on Virtual Assets: The Digital Way Ahead

Most jurisdictions are yet to enact laws or regulations governing cryptocurrencies and non-fungible tokens, leaving much uncertainty in the field. At a time when virtual assets are increasingly becoming a part of business transactions, and…

Businesses in UAE to gear up for Corporate Tax from 2023

Next in a series of reforms in the UAE is the announcement of 'corporate tax', a form of a direct tax on corporations' net income or profit. In its most recent taxation plan encompassing business…

Update on the Major Overhaul of UAE Legislation with effect from February 2022

In celebrating its landmark 50th anniversary, the UAE has introduced various legislative changes reinforcing its position as a market leader in the region. The new legislation requires additional compliance from businesses and thus, we at…

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