Insight Category: News
Speedier commercial cases, reshaped economic rights for women and local HQ requirements all prove good news for cohesion in the region. International businesses that contract with the Kingdom of Saudi Arabia have only three years to set up regional headquarters in the country, it was recently decreed. The decision that KSA will not contract with… Continue reading Clarified legal landscape for KSA offers investors potential new playground...
The English High Court has recently handed down a judgement in a test case related to “Business Interruption” insurance in the context of the COVID19 pandemic, which provides an interesting angle in respect of coverage issues and general English law [insurance] contract interpretation. The Financial Conduct Authority v Arch and Others[1] essentially addressed the legal… Continue reading Recent Legal Developments in Business Interruption Insurance – Coverage Issues and Wider Implications perhaps for the Middle East...
Small investors: imagine owning a property by browsing a website and buying a piece of property that appeals to you – just as you buy a piece of clothing you find appealing online from one of your favourite brands. Prospective entrepreneurs: imagine pitching a project or business through an online platform and raising funds from… Continue reading Real Estate Crowdfunding as Potential Opportunity for Investors and Entrepreneurs...
The Dubai Government issued decree number 6 of 2020 in relation to advertisement regulations. This new decree sets out new guidelines, regulations and permits criteria for all physical advertisements, such as signages, outdoor billboards, promotions, leaflets, roads, commercials and others. Historically, there was a decree number 30 of 1986 that was issued in Dubai to… Continue reading Decree on the Regulation of Advertisements in Dubai...
Regulatory Changes for Insurance Disputes in the United Arab Emirates and the existing Insurance Dispute Committee in the Kingdom of Saudi Arabia BSA are often instructed by the London market for coverage advice pending disputes between cedant and reinsurers. Many of those treaty terms will be governed by the laws of various Middle East jurisdictions… Continue reading Insurance Claims Management: Using the Most Appropriate Governing Law & Jurisdiction Clause in Reinsurance Contracts...
The long-awaited revamp of the data protection regime has finally arrived in the DIFC. As one of the first jurisdictions in the Middle East to draft a stand-alone data protection law, the DIFC has always stood on the forefront of ensuring that the best standards of privacy and data protection would be a key building… Continue reading DIFC Data Protection Law 2020...
The United Arab Emirates (UAE) Insurance Authority (IA) has confirmed that capitation schemes related to the health insurance business in the UAE are unlawful and all IA, authorized and licensed entities must immediately cease the operation of such schemes. Circular No (17) of 2020 for the Cessation of Violating Practices dated 2 June 2020 (the… Continue reading Health Insurance in the UAE – Capitation Schemes Confirmed Unlawful by the Insurance Authority...
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai issued Law No. (4) of 2020 (the “Law”) on Saturday, 3 July 2020, regulating drone activity in Dubai. Aside from military-purpose drones, which are exempt, this law applies to the activity of all types of… Continue reading Dubai Drone Law announced to provide new opportunities and boost Dubai’s aviation sector...
How does a fractional title deed work? With the aim of attracting investors to the Emirate, the Dubai Land Department (DLD) announced a ‘fractional title deed’ initiative. A fractional title deed effectively divides what would normally be one unit (held via a single deed) into two or four parts. The investor may buy up to… Continue reading Dubai Land Department (DLD) Announces the Fractional Title Deed initiative...
The Ministry of Commerce and Industry (“MOCI”), has recently brought into force a new Foreign Capital Investment Law (“FCIL”) promogulated by Royal Decree No: 50/2019, effective as of 2 January 2020. The law has revitalized the regulations and administrative processes applicable to foreign investment in Oman. The new procedures improve the speed and efficiency of… Continue reading New Foreign Capital Investment Law (“FCIL”) in Oman...