Insight Category: News
Over the past two years, the UAE Central Bank (“CBUAE”) has been actively working on issuing updated circulars to address the growing concerns and challenges relating to money laundering, financing of terrorism and sanctions. This is part of the overall approach the CBUAE is adopting as part of their ongoing efforts to protect the integrity… Continue reading New CBUAE guidance for licensed financial institutions...
Introduction As the UAE continues to attract entrepreneurs and foreign investment we expect to see a steep rise of start-ups in the near future. Crucial to a start-up are well organized and documented internal governance documents. Thus, beyond the start-up ensuring that they are in compliance with all applicable laws and regulations, and have in… Continue reading Business start-ups: Why you should have a SHA...
The following article, originally written for and published by Global Legal Insights, covers 2022 FinTech Laws and Regulations in the UAE. Approaches and developments The United Arab Emirates (“UAE”) continues to maintain its position as the leader in financial technology (“FinTech”) in the Middle East. This position is maintained with the help of supportive governmental… Continue reading GLI: UAE FinTech Chapter 2022...
The following article was originally written for and published in Middle East Insurance Review. Introduction Insurance distribution in the Middle East has traditionally been procured through the insurance intermediary markets, such as brokers and insurance agents despite the fast-growing alternative distribution channels available to insurance providers. Bancassurance is one of the fastest growing distribution channels… Continue reading Bancassurance – The legal landscape in the Middle East – Future distribution channels...
This chapter forms part of the Anti-counterfeiting Law Over Borders Comparative Guide 2022. The Law Over Borders comparative guides provide essential information on law and legal practice across the world in an easy-to-use digital format that allows readers to quickly compare the legal frameworks of different jurisdictions. Anti-counterfeiting is a practical and comprehensive guide providing answers… Continue reading Global Legal Post: UAE Anti-Counterfeiting Guide...
UAE-based Amanat Holdings, a healthcare and education investment company, has recently received approval to raise the cap on foreign ownership of the company’s shares from 49% to 100%. The company obtained the necessary approvals from the Securities and Commodities Authority (SCA), it said in a bourse filing on the Dubai Financial Market (DFM). The amendment… Continue reading Raising ownership of UAE company shares to 100%: Rewards and risks...
The legal lowdown on rental increases and maintenance fees Rent in Dubai is on the rise, however as a tenant in Dubai you don’t have to just sit back and go with the flow when it comes to rental hikes. There are legal limits on how much rent can be raised. So how much can… Continue reading Renting in Dubai: Tenants’ rights...
The United Arab Emirates’ new unemployment insurance scheme came into force last week, offering a safety net for expatriate residents and citizens who find themselves out of work. Originally announced in May, the program was launched as part of reforms aimed at attracting more talent and investment into the country. In the following article, partner… Continue reading Everything you need to know about the UAE’s new employment insurance scheme...
The following update provides an overview of Federal Decree-Law No. 14/2022 concerning amending some provisions of Federal Decree-Law No. 33/2021 regarding the regulation of labour relations. The UAE government has recently updated Clause (3) of Article (8) of the Federal Decree-Law No. 33/2021, Regulating Labor Relations (the Labour Law), by issuing Federal Decree-Law No. 14/2022… Continue reading Overview of Federal Decree-Law No.14/2022...
Introduction In a recent arbitration case, which concerned a real estate project; a real estate developer company incorporated in the UAE (the “Real Estate Company”) was the successful party in a dispute concerning an assignment under the relevant contract. The claim was filed against the Real Estate Company by an individual, in his capacity as… Continue reading Arbitration Case Focus: Real Estate Project...