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…
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…
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…
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…
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…
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…
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…
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…
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…
