An insight into the revamped Ultimate Beneficial Ownership Regulations in the UAE as of 2024
A recent overhaul of the regulations concerning the determination of an Ultimate Beneficial Owner (UBO) has brought about considerable changes in the UBO determination and filing for entities in the UAE. The most significant is…
Update: UAE Corporate Tax Registration Deadlines
The Federal Tax Authority (FTA) in a recent decision, FTA Decision No. 3 of 2024 on the Registration Timeline for Corporate Tax has provided the deadlines for registration of Corporate Tax (CT). The deadlines are…
UAE Coming Out of FATF ‘Grey List’: a Milestone for Business Stability
In the realm of global finance, the United Arab Emirates (UAE) has long stood as a beacon of opportunity, drawing investors and businesses from around the world. Another sound reason to enhance this undeniable truth…
Changes made by Ministerial Decision No. 296/2023 on fines for Emiratisation related offences
In June 2023, Ministerial Decision No. 296/2023 on the Standards of Imposition of Administrative Fines According to Cabinet Decision No. 95/2022 on the Offences and Administrative Fines Related to the Initiatives and Programmes of the…
An Update on the Emiratization in the UAE
Over the past couple of years, there have been major developments in the rules governing Emiratization in the private sector. In line with these developments, in June 2023, Ministerial Decision No. 296/2023 On the Standards…
New High Court judgment reconfirms enforcement actions in UAE to be honored in UK, despite assets being transferred to escape creditors
In 2022, the UAE Ministry of Justice confirmed there is reciprocity between the UAE and Great Britain and Northern Ireland with regards to enforcement in judicial matters. This happened after the landmark Lenkor [1]…
New Commercial Agency Law in the UAE – Key Takeaways
The commercial agency framework in UAE has been a key element of commerce. This enables foreign companies or freezone companies to distribute, offer and negotiate the sale or purchase of goods and services on its…
New compliance requirements in the UAE labour market in 2023
The new year has brought with it changes in the legal landscape in the UAE, especially in relation to employment and governance of labour relations. This Article deals specifically with two laws that employees and…
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…