DIFC Proposes New Data Protection Law
On 18 June 2019, the Dubai International Financial Centre (DIFC) issued Consultation Paper No. 6 of 2019 (“Consultation Paper”) seeking public comments on the proposal by the Dubai International Financial Centre Authority (DIFCA) to issue…
New Foreign Direct Investment Law (Federal Law No. 19 of 2018): Upto 100% Foreign Ownership in the UAE
The Government of UAE has always taken initiatives in the improvement of the economy of the country by amending the existing Law or introducing new Laws, to attract more foreign investors to the country. Among…
UPDATE: New DIFC Wills and Probate Rules
The DIFC Wills and Probate Registry (WPR) has been established as an official mechanism for non-Muslims to register their wills and have it enforced through the DIFC Courts. Previously there was a lot of uncertainty…
Director Liabilities Under UAE Laws
There are various provisions under Federal Law no. 2 of 2015 on the Commercial Companies Law (“CCL”) which relate to directors’ and managers’ liabilities and duty of care. The CCL is the most referenced legislation…
Five Practical Steps to Transferring Shares in a Limited Liability Company in Dubai
The M&A deal is nearing closing. You now have to transfer the shares of a limited liability company (“LLC”) in Dubai – how do you go about it? This ‘how-to’ note sets out the key…
UPDATE: New Foreign Direct Investments Law
Earlier this year, the UAE government announced that foreigners will be allowed to retain 100% ownership in UAE mainland companies. Federal Decree Law no. 19 of 2018 on Foreign Direct Investments (“FDI Law”) has finally…