Property Disposition: Exemptions from Fines
Exemption from fines for non-registration of real estate dispositions and non-payment of the prescribed fees at the Dubai Land Department We have always seen changes made in the Dubai Real Estate Law which had attracted…
Gulf Tanker Attacks: Implications on Costs
Tanker attacks have a long history indicating that it could be a powerful weapon in international conflict, which can significantly destabilize an economy. During the war in the 1980s, oil terminals and tankers were under…
Funding Your Start-Up In The UAE
Funding options for start-ups in the UAE are on the rise. Traditionally, most start-ups in the UAE have tended to be bootstrapped or financed by conventional lenders such as banks and financial institutions. However, over…
UPDATE: Medical Liability Law in the UAE
Legal liability, whether criminal or civil, happens as a result of an act (or omission of an act) committed by a person, which results in damage to a third party, this includes medical malpractice. Under…
OFAC Advisory on Iran Sanctions
In its September 4, 2019 Press release The Treasury's Office of Foreign Assets Control (OFAC) issued a new shipping advisory for all the Maritime community. This came as a strong warning to be vigilant of…
Abraaj gets Dh1.156 billion DFSA fine
Some major violations committed by Abraaj entities include carrying out unauthorised financial services. Dubai regulator on Tuesday penalised two Abraaj Group entities with a record Dh1.156 billion in fines - the biggest penalty by any…
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…