corporate and commercial Archives - Fichte & Co Legal

Updates on Corporate Tax: incentives for small businesses, exemptions from tax and unified filings for governmental entities

Dr. Laura Voda — Mon, 01 May 2023 20:31:40 +0000

Federal Decree Law No.47 of 2022 on the Taxation of Corporations and Businesses (the “Corporate Tax Law”) is, without doubt, one of the major developments in the UAE’s legislative landscape of the past years. Introducing a major compliance requirement for the entities whose permanent establishment is in UAE, the Corporate Tax Law had a number …

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Fichte and Co appoints Dr Laura Voda as Partner, strengthening its position in the thriving UAE legal landscape

Chiara De Maria — Tue, 25 Apr 2023 16:00:20 +0000

As the UAE continues to establish itself as an ideal hub for business, the need for reliable legal services continues to grow exponentially. With an increasing number of international companies setting up their operations in the country, navigating the local legal landscape can be complex and challenging. As a result, businesses operating in the nation …

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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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UPDATE: UBO Registry – A new compliance request for UAE companies

Fichte Legal — Sun, 04 Oct 2020 10:19:19 +0000

Key Changes Summary: On August 28, 2020, a new Cabinet Resolution came into effect, to regulate the procedures of a real beneficiary for corporate entities. Cabinet Resolution no. 58 of 2020 (the “UBO Resolution”) replaces Cabinet Resolution no. 34 of 2020. The Resolution aims at setting a procedure for the uniform reporting and registration of …

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NEW UPDATES: Economic Substance Regulations in the UAE

Fichte Legal — Sun, 27 Sep 2020 09:51:10 +0000

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 Cabinet Ministers Resolution No. 7/2020. Furthermore, following the issuance of Resolution 57, H.E the Minister of Finance issued new guidance …

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The New Bankruptcy Law – Stepping up to Challenges in a Post-pandemic Economy

Dr. Laura Voda — Sun, 27 Sep 2020 07:13:03 +0000

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 Law No.18/1993 (the ‘’Commercial Code’’). Under these ambiguous provisions, it was a criminal offense for directors to fail to petition …

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How to Safely Close Down a Business in Mainland, UAE?

Dr. Laura Voda — Sun, 20 Sep 2020 05:15:57 +0000

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”) and the Department of Economic Development setting out formal requirements for operating entities; or via ‘bankruptcy’ regulated by the Federal …

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FICHTE WEBINAR: Fintech – Current Legal Implications and Future Challenges

Fichte Legal — Wed, 16 Sep 2020 08:15:30 +0000

Free Live Webinar UAE has become a preferred hub for fintech entrepreneurs and investors, it is more than merely a buzzword and continues to grow importance as it offers vast business opportunities and competitive advantages. The webinar focused on the transition to a cashless society, legal considerations related to it and future challenges, including 30 …

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FICHTE WEBINAR: COVID-19 Impact on the UAE Real Estate Market

Fichte Legal — Wed, 15 Jul 2020 07:14:11 +0000

Free Live Webinar As the Coronavirus outbreak continues to affect the real estate market in the UAE, the quantum of the impact in this industry will depend on how long the economy takes to get back on track. The webinar focused on the COVID-19 impact on the real estate market, obstacles, opportunities, and the way …

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Developers’ Right to Terminate off Plan Sales to Defaulting Buyers. No Court Order Needed.

Dr. Laura Voda — Mon, 11 May 2020 09:07:00 +0000

In 2017, His Highness Sheikh Mohammed Bin Rashid Al Maktoum issued Law No. 19 of 2017, amending Article 11 of Law No. 13 of 2008 on the Interim Real Estate Register in the Emirate of Dubai. The provisions of Law 19 of 2017 are a matter of public policy, therefore any contractual agreement that developers …

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