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…
Companies are doing their best and taking precautions to prevent the spread of the Cornovirus; some of the measures these companies are taking could invoke force majeure clauses or the "impossibility of performance" defence as…
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…
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…
Background and introduction Just recently, His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE issued Law No. (6) of 2019 pertaining to the Joint Ownership of Properties (Joint…
Residents have questions whether these damages are covered under the insurance as rains are caused by "intentional act" of cloud seeding. Damages to vehicles and properties caused by the ongoing record-breaking rain spell are generally…
Some major violations committed by Abraaj entities include carrying out unauthorised financial services. Dubai regulator on Tuesday penalised two Abraaj Group entities with a record Dh1.156 billion in fines - the biggest penalty by any…
Executive Summary The UAE recently enacted the Cabinet Decision No. 31/2019 concerning the economic substance regulations (the “Regulations” or the “Economic Substance Regulations”) on 30 April 2019 in response to the European Union (EU) adding…
Pursuant to Cabinet Decision no. 51 of 2019, the United Arab Emirates announced a new amended fee and fine structure where in it has cancelled the fees for 102 services and reduced the charges for…
