A new committee to settle heirs’ disputes in Dubai
Based on decision No. 8 of 2021, a Special Tribunal was formed to consider and decide upon any applications, claims, discussions, and appeals submitted in terms of selling inherited residential real estate. This special judicial…
UAE Overhauls Corporate Rules and Allows 100% Foreign Ownership in Mainland Companies
On November 23 2020, the UAE President, Sheikh Khalifa Bin Zayed Al Nahyan, issued a Decree amending 51 articles and introducing certain new provisions in Federal Law no. 2 of 2015 (Commercial Companies Law). This…
Direct Executory Force of Notarized Debts
In the UAE, a debt is directly executable before the UAE Courts where it has been notarized and stamped with a stamp of execution by a notary public. This may be an attractive route for…
Overview: Enforcement Proceedings of Domestic and Foreign Judgements in the UAE
Introduction In the UAE, the general procedures for the execution and enforcement of domestic and foreign judgements are set out in Federal Law No. 11/1992 and its recent amendments (Cabinet Decision No. 57/2018 and Cabinet…
A Partnership Between Fichte & Co. and Middlesex University Dubai
Since 2016, the partnership between Fichte & Co and Middlesex University Dubai, has focused on establishing a common platform in order to cultivate law students for their transition from academia to the professional industry. The…
NEW UPDATES: Economic Substance Regulations in the UAE
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…
The New Bankruptcy Law – Stepping up to Challenges in a Post-pandemic Economy
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…
How to Safely Close Down a Business in Mainland, UAE?
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 is Now Offering 100% Ownership
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…