News Archives - Fichte & Co Legal

The UK is Dropping Tax-Free Status – Will Shipowners Set Sail for the UAE?

Manik Verma — Fri, 25 Jul 2025 05:50:21 +0000

From April 2025, the United Kingdom will eliminate its long-standing non-domiciled tax regime. The new rules will introduce a residence-based system, taxing global income and gains after a four-year transition period. For many international shipowners, this means the end of a structure that offered flexibility, tax efficiency, and strategic advantages for decades. The reform goes …

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Breaking News in the UAE: The Nairobi Wreck Removal Convention is Almost Here!

Jasmin Fichte — Fri, 22 Nov 2024 06:45:28 +0000

In addition to the 31 Conventions of the International Maritime Organization (“IMO”) ratified by the United Arab Emirates (“UAE”), the country is on the cusp of achieving another milestone in its endeavor to make significant strides as an international maritime hub. The UAE is one step away from being the 71st state to ratify the Nairobi …

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An insight into the revamped Ultimate Beneficial Ownership Regulations in the UAE as of 2024

Dr. Laura Voda — Tue, 11 Jun 2024 05:36:06 +0000

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 the ability of the Registrar to adopt a risk-based approach in the determination of the UBO which will be discussed …

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Introducing Sanadak: UAE’s first Ombudsman Unit for Financial and Insurance Consumer Disputes

Ravi P. Jawani — Thu, 28 Mar 2024 06:00:40 +0000

The UAE has taken a significant step towards enhancing consumer trust and protecting consumer rights with the introduction of the new ombudsman unit, “Sanadak”. This move follows the merger of the UAE Insurance Authority with the Central Bank of the UAE in 2020, forming a unified regulatory body for both insurance and banking sectors. The …

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Update: UAE Corporate Tax Registration Deadlines

Dr. Laura Voda — Tue, 26 Mar 2024 07:30:40 +0000

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 based on the categorization of persons into Resident Juridical Persons, Non-Resident Juridical Persons and Natural Persons. The Decision further stipulates …

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Fichte & Co Legal Expands Presence to Saudi Arabia, Offering Comprehensive Legal Solutions

Jasmin Fichte — Mon, 18 Mar 2024 06:20:40 +0000

Fichte & Co Legal is thrilled to announce a significant expansion of our services into Saudi Arabia, through a partnership with the esteemed law firm AlSuwaiket & Al Busaiyes (SB) managed by Dr. Bader AlBusaiyes. This collaboration marks a pivotal step in our mission to deliver exceptional legal services across the Middle East, complementing our …

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UAE Coming Out of FATF ‘Grey List’: a Milestone for Business Stability

Dr. Laura Voda — Mon, 11 Mar 2024 07:30:40 +0000

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 is the recent removal of the UAE from the Financial Action Task Force (FATF) Grey List [1], which can only …

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A Glance in the New Insurance Law in the UAE

Ravi P. Jawani — Fri, 02 Feb 2024 04:30:40 +0000

In a significant development for the insurance sector, the recently published New Insurance Law on 31 October 2023, set to be enforced from 30 November 2023, marks an important moment in the regulatory landscape of the United Arab Emirates (UAE). The main reason for this legislative update is the formalization and codification of the transfer …

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Federal Decree Law No. 43 of 2023 regarding Maritime Law – Download your translation here

Chiara De Maria — Mon, 18 Dec 2023 06:20:40 +0000

The Ministry of Energy and Infrastructure (MOEI) has unveiled the forthcoming Federal Decree-Law No. 43 of 2023 regarding Maritime Law (the “2023 Maritime Law”), slated to come into force from March 2024. This legislation marks a significant departure from the current maritime law, ushering in substantial modifications that will reverberate across the shipping, legal, and …

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A New Era for The Shipping Sector in the UAE

Shehab Mamdouh — Wed, 22 Nov 2023 07:30:40 +0000

A New Era for The Shipping Sector in the UAE The Ministry of Energy and Infrastructure (MOEI) has unveiled the forthcoming Federal Decree Law No. 43 of 2023 regarding Maritime Law (the “2023 Maritime Law”), slated to come into force from March 2024. This legislation marks a significant departure from the current maritime law, ushering …

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