Lawyers Archives - Fichte Legal

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 23, 2018

Is UAE Maritime Court in the Pipeline?

The UAE government has included the Transportation Sector as one of the major Industry sectors in their strategic vision and the FTA (Federal Transport Authority) has taken on the task to improve the maritime infrastructure. Areas of needed improvement have been identified such as the UAE Flag registry, Maritime Arbitration, Maritime Law, Maritime Academies and...

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?...

August 28, 2018

A Special Analysis on the UAE Maritime Commercial Law

A special analysis on the UAE Maritime Commercial Law: The current status and what is needed to be done to improve it In line with government's vision, the UAE Federal Transport Authority ("the FTA"), being the federal entity responsible for the maritime sector, has adopted a long term strategic plan to transform the UAE into...

10-Point Guide to Antitrust and Competition Law in the UAE

Until the issue of the Federal Law No. 4 of 2012 on the Regulation of Competition, the United Arab Emirates (UAE) lacked a composite law on competition, with elements of competition law strewn over various legislations. In 2013, the said law came into force, aiming to curb anti-competitive practices and regulate economic concentrations. This article...

August 27, 2018

8 Essential Issues to Consider Before Signing your Sale and Purchase Agreement – Dubai Property Laws

Purchasing off-plan property has become the new norm, with affordable prices and the increase in incentives being offered, purchasers are quick to jump on the bandwagon. The Dubai Law No. (8) of 2007 On the Matter of Escrow Accounts for Real Estate Development ("Escrow Law") was issued for the purposes of safeguarding purchaser’s money after...

Overview of the Bankruptcy Proceedings and Preventive Measures in the UAE

Definition of bankruptcy: Legally speaking, bankruptcy in the UAE is an expression used to describe a legal status in which a natural (individual) or legal (company) person owes a sum of money to third parties and ceases to pay its debts when they fall due because of its troubled financial position and insolvency. Historical background:...