The Virtual Horizon
Dubai surprised many businesses earlier this year when it issued a new Virtual Assets Law. Dr Laura Voda, Of Counsel at Fichte Legal, examines this law’s most significant provisions and what could be next in…
Registration of Security Interests over Movable Property in the UAE
Historically, the practice of creating security in the UAE could be distinguished from common law jurisdictions, with no recognition of floating charges or future assets. There was no comprehensive legislation which mandated the registration of…
ChequeScore – Know the probability of a cheque to bounce
When and Where? Launched earlier this year, the ChequeScore is an innovative tool of Al Etihad Credit Bureau (AECB), aimed at complementing the initiatives of the UAE Government to decriminalize bounced cheques. As of April…
DIAC Arbitration Rules 2022 – A Paradigm Shift For Dubai Becoming A Global Arbitration Hub
The Dubai International Arbitration Centre (DIAC) published its new arbitration rules (DIAC Arbitration Rules 2022 or the “New Rules”) on 2nd March 2022; these are in effect as of 21st March 2022. The 2022 Rules…
Dubai’s New Law on Virtual Assets: The Digital Way Ahead
Most jurisdictions are yet to enact laws or regulations governing cryptocurrencies and non-fungible tokens, leaving much uncertainty in the field. At a time when virtual assets are increasingly becoming a part of business transactions, and…
Update on the Major Overhaul of UAE Legislation with effect from February 2022
In celebrating its landmark 50th anniversary, the UAE has introduced various legislative changes reinforcing its position as a market leader in the region. The new legislation requires additional compliance from businesses and thus, we at…
Approaching Deadline: Amendments to Constitutional Documents of Mainland Companies
The Federal Law by Decree No. 26 2020 (“Decree Law”), issued on November 23, 2020, introduced new provisions amending various aspects of the Federal Law No.2 2015 regarding Commercial Companies (“Commercial Companies Law”). The Decree…
Covering the same Risk under Multiple Insurance Policies
The concept of insurance depends on the participation of a group of persons, whether physical or corporate (the insured), that distribute the risks that may result from specific events. The insureds pay pre-determined contributions to…
Dissolution of EMAC and its effects on the business community
On September 14 2021, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, issued Decree No. 34 of 2021 (“Decree”) regarding the Dubai International Arbitration…
