UAE Issues Waiver for Amendments to MOA of LLC’s
The UAE Ministry of Economy recently issued the ministerial resolution no. 694 of 2016 (the “Resolution”) which waives the requirement of amending the memorandum of association (“MOA”) of limited liability companies (LLC), joint liability companies,…
Real Estate Property Rights and Musataha in the UAE
The real estate market in the UAE has boomed in the past couple of years and has become known for the developments of some of the largest projects in the world. Despite the property market…
Deciphering Due Diligence in the UAE
Clients often ask us, “How can we conduct legal due diligence or background checks on another party in the UAE?” Unfortunately, there’s no straightforward answer. With no centralised company register, and over 40 different free…
Wills & Succession Planning Must Be Part of Your Business Strategy
As generations of expatriates begin to age in the UAE, the issue of having a will in place is becoming a seemingly important topic. This is especially so for corporate CEOs and shareholders whose death…
Rescue And Revive: The New Bankruptcy Law in the UAE
The much awaited new bankruptcy law in the UAE is a complete legal framework meant to assist financially troubled companies to avoid collapse. It took effect on December 29, 2016 after being decreed by President…
Crowdfunding in the UAE – An Opportune Time For Regulatory Certainty
Crowdfunding is the new kid on the block in the alternative finance market. With access to traditional modes of corporate finance reaching the bottleneck coupled with the sweeping reach of the internet, crowdfunding is globally…
Globalisation proves to be alive and kicking as OECD Common Reporting Standards enter the UAE
OECD Common Reporting Standards (or CRS) are global standards applied by financial institutions for automatic exchange of information, aimed at identifying the effective tax residence and any investment income, account balances and sales proceeds of…
Judicial Tribunal rejects DIFC Court jurisdiction
In a noteworthy first decision, the Judicial Tribunal for the Dubai Court and DIFC Court (JT), established to decide conflicts of jurisdiction between the two courts, has ruled on 27 January 2017 that Daman Real Capital…
Transformation of Offshore Jurisdiction in Ras Al Khaimah
International business companies (IBCs) incorporated or proposed to be incorporated in Ras Al Khaimah must note the recent establishment of the Ras Al Khaimah International Corporate Centre (RAKICC) which, going forward, will be the sole…