Compliance Alert: 10 Things you Must Know about the New Economic Substance Regulations in the UAE
Executive Summary The UAE recently enacted the Cabinet Decision No. 31/2019 concerning the economic substance regulations (the “Regulations” or the “Economic Substance Regulations”) on 30 April 2019 in response to the European Union (EU) adding…
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…
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…
New Foreign Direct Investment Law (Federal Law No. 19 of 2018): Upto 100% Foreign Ownership in the UAE
The Government of UAE has always taken initiatives in the improvement of the economy of the country by amending the existing Law or introducing new Laws, to attract more foreign investors to the country. Among…
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…
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…
The New DIFC Employment Law- What Has Changed?
DIFC Employment Law no. 2 of 2019 (“New Law”) has recently been enacted which repeals and replaces the DIFC Law no. 4/2005 as amended by DIFC Law no. 3 of 2012 (“Previous Law”). There has…
Stranded Sailors Waited 28 Months for this Day
It was a fight for survival for the sailors who had to live on dwindling supplies of food and water. "Life in hell is over," said a relieved Ayyappan Swaminathan as he planted his feet…
New System to Boost UAE Finance Sectors’s Integrity
The new system "will not affect the customers of banks since it is not applicable to them", the central bank said. The Central Bank of the UAE has developed a Persona Non Grata (UAEPNG) System…