due diligence Archives - Fichte & Co

Executive Summary of EU GDPR: 10 Action Points for Compliance

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...

The Status of Anti-Corruption Legislation in the UAE

On 10 June 2017, Robert Bosch Middle East (“Bosch”) was the first company in the region to be awarded an anti-bribery certification by Tasneef-Rina Business Assurance. The standard implements best practices when it comes to fighting bribery and corruption, and contributes to the UAE’s goals of achieving transparency and creating a healthy business environment. As...

Deciphering Due Diligence in the UAE

Clients often ask us, “How can we conduct legal due diligence or background checks on another party in the UAE?” Unfortunately, there’s no straightforward answer. With no centralised company register, and over 40 different free zones, obtaining basic information about UAE free zone companies may pose a daunting challenge. Even so, there are still effective...

November 21, 2016

Major banks still refuse Iran business

Large banking transactions with Iran remain difficult despite new sanctions guidelines Major international banks are still refusing to handle any banking transactions with Iran, despite recent clarifications. It remains very difficult to do thorough due diligence on Iranian entities Large transactions remain difficult despite new sanctions guidelines Major international banks are still refusing to handle...

October 22, 2016

From Flags to Finance

As a Civil law jurisdiction, UAE maritime law is derived from the UAE's Maritime Code (or specifically Federal Law No. 26/1981) but all maritime financial transactions are governed by the Commercial and Civil Codes. The Federal Transport Authority (FTA), is the Government body which is responsible for regulating and implementing daily shipping procedures, and for...