The interpretation of “otherwise” in a Jurisdiction Clause

On 29 July 2022, the English Commercial court rendered a decision in Al Mana Lifestyle Trading LLC & Ors v United Fidelity Insurance Company PSC & Ors [2022] EWHC 2049 (Comm) case, whereby the claim…

New Emiratisation Laws – 2% Emiratisation Law and Classification Law

What is Emiratisation?   The initiative by the Government of the UAE to increase the number of UAE nationals employed in the private and public sectors is called Emiratisation.    The Emiratisation program is an…

Dubai’s Virtual Assets Regulatory Authority – the world’s first regulatory authority to enter the metaverse

The recent announcement that Dubai's Virtual Assets Regulatory Authority (DVARA) has entered into the metaverse with the establishment of its Metaverse HQ made it the first regulator to have a presence in the emerging digital…

The Virtual Horizon

Dubai surprised many businesses earlier this year when it issued a new Virtual Assets Law. Dr Laura Voda, Of Counsel at Fichte Legal, examines this law’s most significant provisions and what could be next in…

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…

DIAC Arbitration Rules 2022 – A Paradigm Shift For Dubai Becoming A Global Arbitration Hub

The Dubai International Arbitration Centre (DIAC) published its new arbitration rules (DIAC Arbitration Rules 2022 or the “New Rules”) on 2nd March 2022; these are in effect as of 21st March 2022. The 2022 Rules…

Dubai’s New Law on Virtual Assets: The Digital Way Ahead

Most jurisdictions are yet to enact laws or regulations governing cryptocurrencies and non-fungible tokens, leaving much uncertainty in the field. At a time when virtual assets are increasingly becoming a part of business transactions, and…

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…

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