Corporate & Commercial Archives - Fichte & Co

Property Ownership through Corporate Vehicles

The Dubai government has continually made changes to its real estate regulations, granting further flexibility for foreigners to own property in Dubai. Although there are still restrictions for foreign companies, there have been some developments over the past couple of years surrounding the types of UAE entities which are allowed to own property. The companies...

February 26, 2019

DIFC Entities: Are You Compliant with the New Ultimate Beneficial Ownership Regulations?

Background The Dubai International Financial Centre (DIFC), on 12 November 2018, issued the Ultimate Beneficial Ownership Regulations (“UBO Regulations”) with a deadline of 12 February 2019 to comply with its requirements. Owing to the high number of requests for clarifications, the DIFC recently issued a guidance note and organised an outreach session on 25 February...

UAE Hot Spots for Fintech Companies

The UAE is fast emerging as a hub for fintech companies in Middle East. In the bid to becoming an international financial powerhouse, the UAE government has pushed for initiatives in the fintech sector by establishing accelerators and sandboxes to create a supporting environment for innovation to flourish, particularly in the country’s renowned financial jurisdictions,...

January 13, 2019

New Regulations for JAFZA Offshore Companies 2018-Some Key Changes You should Know

Recently, Jebel Ali Free Zone Authority (JAFZA) has issued its new JAFZA Offshore Companies Regulations, 2018 (‘New Regulations’) applicable to all the Offshore Companies formed with the Authority and shall repeal and replace the JAFZA Offshore Companies Regulations, 2003 (‘Old Regulations’). However, the exact enforcement date of the new regulations is yet to be announced...

December 19, 2018

Director Liabilities Under UAE Laws

There are various provisions under Federal Law no. 2 of 2015 on the Commercial Companies Law (“CCL”) which relate to directors’ and managers’ liabilities and duty of care. The CCL is the most referenced legislation when dealing with directors’ duties and day to day management of their companies. There is no uniform set of legislation...

December 18, 2018

The Importance of Registration of Trademark in the UAE

The UAE offers opportunities in all business sectors with its hospitable business climate and has become home to multinational companies and entrepreneurs. Setting up of company in UAE is a strategic decision and investors must consider various aspect before choosing the right structure and jurisdiction for setting up company. However, it is often seen that...

December 17, 2018

DIFC Issues New Laws and Regulations (November 2018): Key Action Points and Changes

Background On 12 November 2018, the Dubai International Financial Centre (DIFC) issued the following new laws and regulations: Companies Law (DIFC Law No. 8 of 2018) and the Companies Regulation (“New Companies Law”) Operating Law (DIFC Law No. 7 of 2018) and the Operating Regulations (“Operating Law”) Ultimate Beneficial Ownership Regulations issued pursuant to the...

December 11, 2018

Bribery & Corruption 2019

Bribery & Corruption 2019 - United Arab Emirates Our Partner and Head of Shipping Department, Alessandro Tricoli and Associate Sarra AlSamarrai have contributed to the Global Legal Insights to: Bribery & Corruption 2019. Bribery & Corruption 2019 covers key topics including law and enforcement regimes, recent enforcement activity and policy, investigations, decision-making and enforcement, and...

November 26, 2018

Five Practical Steps to Transferring Shares in a Limited Liability Company in Dubai

The M&A deal is nearing closing. You now have to transfer the shares of a limited liability company (“LLC”) in Dubai – how do you go about it? This ‘how-to’ note sets out the key steps involved in transferring shares of a Dubai-based LLC. Step 1: Fill up the Registration and Licensing Application Form Fill...

November 6, 2018

UPDATE: New Foreign Direct Investments Law

Earlier this year, the UAE government announced that foreigners will be allowed to retain 100% ownership in UAE mainland companies. Federal Decree Law no. 19 of 2018 on Foreign Direct Investments (“FDI Law”) has finally been issued and introduces the process by which the UAE authorities will govern foreign direct investments. Below we have highlighted...