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

[vc_row][vc_column][vc_column_text]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 …

RAKEZ is Now Offering 100% Ownership

[vc_row][vc_column][vc_column_text] 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 relief packages including fee waivers, rent holidays, and waivers of penalties and also introduced new license packages with a …

Everything You Need to Know about End of Service Gratuity in the UAE

[vc_row][vc_column][vc_column_text]The End of Service Gratuity (‘EOS’) is a benefit granted by the UAE Federal Law no. 8 of 1980, as amended (‘Employment Law’) to the expatriate workforce in the private sector. Consequently, the benefit applies to expatriate employees in UAE mainland companies and in UAE free zone companies, that operate under the remit of the …

Fujairah Opens for Crew Changes

[vc_row][vc_column][vc_column_text]Travel restrictions and border closure imposed by governments around the world due to the Coronavirus outbreak, have caused significant hurdles to crew changes and left many seafarers stranded onboard ships or unable to join ships. According to the Federal Transport Authority-Land & Maritime(FTA), UAE decided to open crew changes in all its ports and waters, …

Get In Touch