Companies law Archives - Fichte & Co Legal

New Commercial Agency Law in the UAE – Key Takeaways

Dr. Laura Voda — Thu, 09 Feb 2023 01:49:40 +0000

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 behalf within the UAE, through commercial agents in return for commission or profit. These companies can thus offer their products …

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Few Key Changes of the New Dubai Multi Commodities Centre Authority(DMCCA) Companies Regulations 2020

Neelesh Pillai — Wed, 26 Feb 2020 03:23:39 +0000

Dubai Multi Commodities Centre (DMCC) recently announced new DMCCA Company Regulations 2020, which came into effect from 2 January 2020 to further enhance the ease of registration and operation of businesses. The new Regulations have brought in some changes in the existing company law framework, increasing by this the remit of the activities undertaken by …

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New “Dubai Future District” for Future Economy

Neelesh Pillai — Mon, 24 Feb 2020 10:50:16 +0000

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai has announced the launch of a new district combining the key commercial and financial hubs in Dubai and is dedicated to the development of the future economy under the name of ‘Dubai Future District’. The Dubai …

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News Alert: Economic Substance Requirements Guidance Issued

Dr. Laura Voda — Tue, 18 Feb 2020 09:57:08 +0000

Introduction On 11 September 2019, the UAE issued Ministerial Decision No. 215 of 2019 on the Directives for the implementation of the Economic Substance Regulations (ESR). The ESR was earlier published in April 2019 as the Cabinet of Ministers Resolution No. 31 of 2019. The Ministerial Decision of September 2019 (the “Guidance”) is served as …

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The New DIFC Employment Law- What Has Changed?

Fichte Legal — Mon, 17 Jun 2019 05:27:06 +0000

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 been an ongoing debate about the implemented changes introduced by the New Law. Some changes have been enacted to protect …

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DIFC Issues New Laws and Regulations (November 2018): Key Action Points and Changes

Fichte Legal — Mon, 17 Dec 2018 02:45:53 +0000

Background On 12 November 2018, the Dubai International Financial Centre (DIFC) issued the following new laws and regulations: Companies Law (DIFC Law No. 8 of 2018) and the Companies Regulation (“New Companies Law”) Operating Law (DIFC Law No. 7 of 2018) and the Operating Regulations (“Operating Law”) Ultimate Beneficial Ownership Regulations issued pursuant to the …

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Executive Summary of EU GDPR: 10 Action Points for Compliance

Fichte Legal — Thu, 17 May 2018 05:56:52 +0000

The deadline to comply with the European Union’s General Data Protection Regulation (GDPR) is just around the corner. In this article, we summarize the key points that you need to know about the GDPR and how to acheive GDPR compliance. What is the GDPR? The GDPR (General Data Protection Regulation) is a new European Union …

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What You Need to Know Before Exiting the UAE

Fichte Legal — Sun, 02 Jul 2017 01:00:18 +0000

As the UAE continues to grow, expats continue to move here for a better life and better opportunities. Guidance is offered for expats who wish to start their own businesses in the UAE, and the various options available for them. However, there is not much guidance for business owners who no longer wish to remain …

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UAE Issues Waiver for Amendments to MOA of LLC’s

Fichte Legal — Sun, 30 Apr 2017 04:28:39 +0000

The UAE Ministry of Economy recently issued the ministerial resolution no. 694 of 2016 (the “Resolution”) which waives the requirement of amending the memorandum of association (“MOA”) of limited liability companies (LLC), joint liability companies, and limited partnerships (collectively, the “Exempted Companies”) as per the provisions of the Federal Law No. 2 of 2015 concerning …

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LLC’s: time for compliance check with Companies Law?

Fichte Legal — Mon, 05 Sep 2016 04:56:03 +0000

Although the Companies Law (Federal Law 2/2015 concerning commercial companies), which came into effect in July 2015, did not bring about ground-breaking changes to the legal regime surrounding limited liability companies (LLC) in the United Arab Emirates, there are still certain important changes and updates that LLC’s need to be aware of lest they inadvertently …

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