Registration of Security Interests over Movable Property in the UAE
Historically, the practice of creating security in the UAE could be distinguished from common law jurisdictions, with no recognition of floating charges or future assets. There was no comprehensive legislation which mandated the registration of…
Update on the Major Overhaul of UAE Legislation with effect from February 2022
In celebrating its landmark 50th anniversary, the UAE has introduced various legislative changes reinforcing its position as a market leader in the region. The new legislation requires additional compliance from businesses and thus, we at…
Approaching Deadline: Amendments to Constitutional Documents of Mainland Companies
The Federal Law by Decree No. 26 2020 (“Decree Law”), issued on November 23, 2020, introduced new provisions amending various aspects of the Federal Law No.2 2015 regarding Commercial Companies (“Commercial Companies Law”). The Decree…
New regulation on Bounced Cheques and its Implications
Introduction The UAE being a commercial hub with an expanding economy, cheques are one of the common forms of payments, regardless of the size of the transaction, and they are also used as a method…
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…
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,…
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…
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…
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…