Insurance Archives - Fichte & Co

UAE Reduces the Official Fees for Trademark Registration

Pursuant to Cabinet Decision no. 51 of 2019, the United Arab Emirates announced a new amended fee and fine structure where in it has cancelled the fees for 102 services and reduced the charges for other services among 110 services offered by the Ministry of Economy, including those related to intellectual property matters , as...

DIFC Proposes New Data Protection Law

On 18 June 2019, the Dubai International Financial Centre (DIFC) issued Consultation Paper No. 6 of 2019 (“Consultation Paper”) seeking public comments on the proposal by the Dubai International Financial Centre Authority (DIFCA) to issue a new Data Protection Law aimed at enhancing the existing legal framework on data protection in the DIFC (“Proposed Law”)....

UPDATE: New DIFC Wills and Probate Rules

The DIFC Wills and Probate Registry (WPR) has been established as an official mechanism for non-Muslims to register their wills and have it enforced through the DIFC Courts. Previously there was a lot of uncertainty with regards to the registration of wills of non-Muslims since Shari’a principles govern inheritance throughout the UAE. If an expatriate...

Fichte & Co Seminar Tackles the IMO 2020 with the Forces of UAE and Singapore

The seminar aligned both the UAE and Singapore with the vision of the International Maritime Organization as the 2020 sulphur cap lurks around the corner Fichte & Co Legal, one of the UAE’s leading law firms, has recently held an informative seminar at the JW Marriott Marquis, Business Bay in Dubai, UAE. The session tackled...

Everything You Need to Know about FIDIC Contract in the UAE

Introduction The International Federation of Consulting Engineers (FIDIC) is an international organization best known for developing standard contracts forms for the construction and engineering industry. Due to the rapid construction growth during the last 20 years and international cooperation, FIDIC contracts are commonly used on construction projects in UAE. However, peculiarities of legislation and special...

Cyber Security Policy from a Legal Perspective

What is a cyber security policy? A cyber security policy is a document that specifies the vulnerable cyber assets (technology and information) that have to be protected from certain risks. Furthermore, it specifies those risks and the way of dealing with them, as well as people responsible for such protection. In other words, a cyber...

The UAE Insurance Authority Issues New List of Fines for Non-compliance with Insurance Regulations

Introduction and Background On 6 January 2019, the UAE Insurance Authority (“IA”) published the 'Cabinet Resolution No 7 of 2019’ concerning the Administrative Fines Imposed by the Insurance Authority' (the “Resolution”). This Resolution lists 204 penalties and fines for violating the Federal Law No. 6 of 2007 ‘Concerning the Establishment of the Insurance Authority &...

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,...

August 29, 2018

All You Need to Know About Debt Recovery Procedures in the UAE

Debts can be traced back to that time before the barter system. At that time, people exchanged services and goods for other services and goods in return. But, what if there were no current services or goods to be exchanged with, and what if one party failed to supply the goods or services as promised?...