Corporate & Commercial Archives - Fichte & Co

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...

October 31, 2018

Examining FIDIC Construction Contracts: Part 1 – The Dispute Adjudication Board

Muqawala contract or construction contract is in its general nature, governed by the general liability rules stipulated in the Federal Civil Transactions Law No. (5) of 1985 as amended by the law No. (1) of 1987. In particular, the specific articles regulating the relationship between the employer, the main contractor and subcontractors are mentioned in...

October 24, 2018

Get 100% Foreign Ownership Today in Dubai

Freezones have always been the topic of discussion in the U.A.E., especially when considering options for setting up a business within the country. Which is why, many investors are attracted to establishing a company within the UAE freezones, as unique packages united with advantages offer the perfect hub for businesses to grow. Amongst the various...

October 8, 2018

Seven Things to Know About Filing a Bankruptcy Petition in the UAE

If your company is thinking of filing a bankruptcy petition under the relatively new bankruptcy law in the UAE (Federal Law Decree Law No. 9 of 2016), there are a few key things to keep in mind prior to filing the petition: 1. The Law is Untested: The UAE bankruptcy law is untested at Court,...