Lawyers Archives - Fichte & Co

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MoE: Register your non-financial business to anti-money laundering systems

The UAE Ministry of Economy (MoE) announced that all Designated Non-Financial Businesses and Professions (DNFBPs) must complete their registration in the following anti-money laundering systems by March 31, 2021. This is part of the UAE’s Federal Decree No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations….

New Visa options in the UAE

The last months have witnessed significant new visa reforms in the United Arab Emirates. The coronavirus pandemic has seen an exponential rise in the number of people switching to remote work. While working from home is becoming the new normal, the United Arab Emirates have started to give the opportunity to live in one of the most beautiful and safe…

February 2, 2021

The kerfuffle of apps terms of use: can they change anytime?

Online Apps (such as WhatsApp, Twitter, Facebook, Instagram etc.) generally follow a similar two-tiered contracting pattern: a clickwrap agreement (which ends with “I Agree…”) and / or a browse wrap agreement, whereby a user agrees to and continues to be bound even if the App reserves the right to unilaterally change its terms of use….

December 22, 2020

Right of Arrest Under UAE Law for Unpaid Bunker Suppliers

Time charterers and demise charterers are usually responsible for supplying the chartered vessel with bunker supplies for the term of the charterparty. Bunker supplies are often supplied on credit terms with a delayed term for payment following the delivery of the bunkers. During difficult market conditions, it is not uncommon for charterers to become insolvent…

Importance of Non-Disclosure Agreements (NDA) for Startups

In the current times, most startups aim at implementing innovative business ideas, new technologies, and, most probably, unicity. Whereas registering, financing, and making a startup work usually imply a plethora of things to complete, one must not oversee the legalities of it. Innovation and the uniqueness of an idea represent, from a legal standpoint, a...

December 21, 2020

Civil Liability for Bunker Oil Pollution Damage

UAE APPROVES TO JOINING OF THE INTERNATIONAL CONVENTION ON CIVIL LIABILITY FOR BUNKER OIL POLLUTION DAMAGE UAE Federal Law No. 166/2020, issued on 10th November 2020, has approved the joining of the International Convention on Civil Liability for Bunker Oil Pollution Damage 2001 (the “Convention”). In this article, we aim to highlight the most important...

November 29, 2020

FICHTE WEBINAR: UAE Labor Law – Limited v Unlimited Contracts

Free Live Webinar UAE residents and companies are still very unsure of their employment rights until they are forced to defend those rights in court. Our webinar focuses on the difference between limited and unlimited contract, end of service gratuity under each contract. The webinar was presented both in English and Arabic, including 30 minutes...

November 24, 2020

UAE Overhauls Corporate Rules and Allows 100% Foreign Ownership in Mainland Companies

On November 23 2020, the UAE President, Sheikh Khalifa Bin Zayed Al Nahyan, issued a Decree amending 51 articles and introducing certain new provisions in Federal Law no. 2 of 2015 (Commercial Companies Law). This update aims at analyzing the primary impact of the Decree in the jurisdiction and its relevance for the corporate restructuring...

Direct Executory Force of Notarized Debts

In the UAE, a debt is directly executable before the UAE Courts where it has been notarized and stamped with a stamp of execution by a notary public. This may be an attractive route for settling debts, for debtors and creditors alike, due to the time and cost-efficient nature of the process. In particular, it...

October 21, 2020

Overview: Enforcement Proceedings of Domestic and Foreign Judgements in the UAE

Introduction In the UAE, the general procedures for the execution and enforcement of domestic and foreign judgements are set out in Federal Law No. 11/1992 and its recent amendments (Cabinet Decision No. 57/2018 and Cabinet Decision No. 33/2020) (together the “Civil Procedure Code”). Enforcement of domestic judgements Enforcement proceedings may be initiated after obtaining a...