On 10 August 2020, The Cabinet of Ministers Issued Resolution No.57/2020 concerning Economic Substance Regulations (‘’Resolution 57’’). Resolution 57 amends and repeals the Cabinet of Ministers Resolution No. 31/2019, Cabinet Ministers Resolution No. 58/2019, and…
Throughout the United Arab Emirates (UAE), a collective frustration existed with insolvencies due to the time-consuming nature and significantly low recovery rates, which stemmed from outmoded insolvency laws under Book 5, Article 645-900 of Federal…
Introduction The two most prevalent routes that have been undertaken for liquidating a company are either ‘voluntary winding up’ specified under the Federal Law No. 2 of 2015 -The Commercial Company law (the “Companies Law”)…
RAKEZ OFFERS 100% FOREIGN OWNERSHIP IN MAINLAND WITH FDI COMPANY SET-UP In response to the UAE Government’s efforts to provide relief to businesses during the COVID-19 pandemic, a number of free zones have announced major…
The End of Service Gratuity (‘EOS’) is a benefit granted by the UAE Federal Law no. 8 of 1980, as amended (‘Employment Law’) to the expatriate workforce in the private sector. Consequently, the benefit applies…
Free Live Webinar As the Coronavirus outbreak continues to affect the real estate market in the UAE, the quantum of the impact in this industry will depend on how long the economy takes to get…
The newest and most effective marketing tool for business exists nowadays in the digital world. Whereas a good and attractive website has all the prerequisites to have a strong impact on the market share and…
A revisited legal regime and a building block for the high standards of the financial center From July 1, 2020, the date of entry into force of the new DIFC Data Protection Law, the financial…
Introduction The World Trade Organization has projected that “world trade is expected to fall by between 13% and 32% in 2020” due to the COVID-19 pandemic, as it has increased globally causing massive disruptions on…
